March Synopsis

Greenwich Market Newsletter March 2012 Dear Jared,    Thank you for reading my newsletter.  Every week I will break down the Greenwich Real Estate Market so that you can be knowledgeable in your price range.  Also below you will see a list of the open houses for the weekend.  On the right hand side will be useful mortgage or community information.  If you know someone who would benefit from this information please forward to them.  If you have received this in error feel free to unsubscribe.  Please contact me if you or someone you know is interested in buying or selling real estate. First and foremost as of March 27, 2012 the average sale price vs list price  and average days on market were as follows: Town                 %SP/LP            AVG DOM  Riverside              91.7                        117 Old Greenwich      94.6                         97 Greenwich             92.4                        178 Cos Cob                96.3                        261 Total                       92.9                        164 March is notoriously a busy month for properties listed. This year was no exception.  This March was not all that different than last March.  There were a couple of distinct differences.  First and foremost, the new listings dropped by 7.7%  The amount of single family homes and condos that sold were flat from last year.  Where we saw the biggest decline is in the amount of rentals closing.  The amount of rentals were down 15% from March of last year.  This tells us that even though we had the same amount of sales the inventory is a little bit tighter than it was last year at this time.  Below I will break down the numbers in more detail based on price ranges.  There were 158 new properties single family homes on the market.  There were 163 properties that were either accepted offers, contingent contract, executed contract; or sold.  This exemplifies the fact that Greenwich Real estate is picking up. There were 48 properties that sold in the month of March.  This month's properties break down as follows. $0-$500K=     8 properties $500-$1M=    18 properties $1M-$1.5M=  6 properties $1.5M-$2M=  6 properties $2M-$5M=     6 properties $5M and up=  4 properties In the last 30 days we have had 40 properties executed contract (meaning all contingencies have been met, awaiting close).  They were as follows: $0-$500K=     0 properties $500-$1M=    15 properties $1M-$1.5M=  7 properties $1.5M-$2M=  5 properties $2M-$5M=     9 properties $5M and up=  4 properties *note executed prices are based on most current list price We had an additional 75 properties that were accepted offers or in contract with contingencies. Sincerely, Jared Randall 203-273-1034 www.jaredrandall.prudentialct.com jaredrandall@prudential.com www.facebook.com/jaredrandallprudentialct Prudential Connecticut OPEN HOUSES APRIL 15  Address                    Town        List Price Hours Broker  1525 E. Putnam #30 Old Greenwich$325,000     1-4     Raveis 102 Valley Rd #119    Cos Cob      $475,000      1-4       Raveis 86 Ritch Avenue West Greenwich$499,000       1-4  Prudential 28 Homestead Lane   Greenwich   $499,000      1-4      Raveis 76 Putnam Park          Greenwich   $545,000      2-4       Raveis 51 Forest Ave #78 Old Greenwich$550,000      1-3       Raveis 171 S. Water Street   Greenwich   $550,000      2-4       Raveis 351 Pemberwick#505 Greenwich  $599,000      1-4  Prudential 7 Richland Rd             Greenwich   $685,000      1-4  Prudential 28 Woods Avenue     Greenwich   $699,000      12-3    Raveis 9 Melrose Ave            Greenwich   $739,000      1-5   Weichert 60 Valley Rd               Cos Cob       $750,000      1-4      Raveis 175 Lake Ave             Greenwich   $849,000      1-4      Raveis 3 Ridge Rd                  Cos Cob       $849,000      1-4      Raveis 124 Milbank Ave         Greenwich   $899,00        2-4   Coldwell 31 Scott                      Greenwich   $949,500      1-5   Weichert 73 Weaver Street       Greenwich   $995,000      2-4   Coldwell 9 Sinawoy Rd             Cos Cob       $999,000      1-4 Prudential 133 Cherry Hill Road   Stamford      $1,249,000   1-4 Prudential 7 Chestnut St              Cos Cob       $1,345,000   1-4      Raveis 86 Lower Cross         Greenwich   $1,349,000   1-5   Weichert 43 Stag Lane              Greenwich   $1,850,000  2-4   Sothebys 25 Oval Avenue          Riverside      $1,875,000  1-4      Raveis 79 William Street         Greenwich   $1,975,000   2-4   Coldwell 49 Pecksland Road     Greenwich   $2,087,000   1-3        *S&C 75 Harding Road   Old Greenwich   $2,139,000   2-4        *S&C 112 Taconic Road       Greenwich   $2,200,000   1-4 Prudential 6 Stanwich Lane         Greenwich   $2,350,000   2-4  Coldwell 27 Hoyclo Road           Stamford      $2,350,000   2-4   Coldwell 26 Hill Road                 Greenwich   $2,480,000   2-4 Anderson 9 Tomney Road           Greenwich   $2,699,000 12-2 Prudential 165 Lake Ave             Greenwich    $2,750,000   1-5  Weichert 32 Hendrie Drive    Old Greenwich   $2,975,000  1-4 Sothebys 70A Havemeyer Pl      Greenwich    $3,100,000   1-4     Raveis 5 Gilliam Lane              Riverside       $3,395,00     1-4       *S&C 25 Windabout Drive    Greenwich     $3,495,000   2-4 Coldwell 1 Little Cove Place   Old Greenwich  $4,195,000   1-4    Raveis 22 Cherry Tree Ln      Riverside        $5,495,000   2-4       *S&C 244 Byram Shore Rd  Greenwich     $5,975,000   2-4 Coldwell 487 North Street Lot 1 Greenwich    $6,995,000   2-5 Coldwell 18 Chimney Corner Ln Greenwich    $10,750,000 2-4 Coldwell *= Shore & Company About Jared Randall Whether you are new to the community or a lifetime resident of Greenwich, Jared dedicates his time and skills to best represent you.  With a customized approach, Jared incorporates all of your family's needs into the process. His priority for individuals selling a home is to accentuate the unique offerings of the property that distinguish it in the marketplace and expose it to the broadest buying audience.  If purchasing a new home, Jared diligently combs through inventory to find a place that is best aligned with your desires at the most competitive price.  With almost two decades of experience in executive sales with Fortune 100 companies, Jared applies his fine-tuned negotiating skills to every transaction. Jared grew up in Northern California.  He spent much of his childhood in Tahoe City, a small town of picturesque Lake Tahoe.  A former Sales Executive who is a graduate of Saint Mary's College,  Jared has lived in San Francisco, Park Slope, New York City, and most recently in Greenwich, where he currently resides with his wife and twin boys.      Jared Randall lives in Greenwich. He moved to this dynamic community for the top-rated school system, the altruistic community, the friendly neighborhood coffee shop, and the cultural diversity that Greenwich embodies.  Jared Randall knows Greenwich. The clients who work with Jared come to him for his trusted expertise in every facet of the Greenwich marketplace.  His familiarity with Connecticut's Gold Coast--combined with his in-depth comprehension of the current market and shifting trends--is the knowledge he passes along to every client.   Join My Mailing List     Like Me On Facebook     Visit My Website MORTGAGE INFORMATION  The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of HSBC and Iliad Estrada or Ct. Home Mortgage. Jeff's rates can be found at: http://www.us.hsbc.com/1/2/3/personal/home-loans   Jeff can be reached at 646-372-5181. Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202. Product Interest Rates Annual Percentage Rate 15 YR Fixed Conforming 2.875% 3.117% 30 YR Fixed Conforming 3.750% 3.894% 30 Year Fixed Agency  Jumbo n/a n/a 30 YR  Fixed Jumbo 4.250% 4.379% 5/1 YR ARM Conforming 2.375% 3.112% 5/1 YR ARM Jumbo 2.375% 3.091% 10/1 YR ARM Jumbo 3.500% 3.523%