Greenwich, CT Residential Real Estate Blog and Analysis: October 31st

Greenwich, CT Residential Real Estate Blog and Analysis:   October 31st    A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

Keeping in line with the last few weeks I am featuring another property that wowed me as I walked through the home.  There are not many times as a Realtor that I am taken back with a home, this was definitely one of those occasions.  The above pictured 11 Wynnwood Road has everything today's buyers are looking for and then some.  The outdoor space consists of a  heated pool, with a spa, a flood lit tennis court, a pool house with a full bath and a kitchenette, a built in outdoor bbq, and a screened in porch.  The home itself sits on 2.24 acres in a 2 acre zone, on a cul-de-sac on a highly desirable street in mid country, just a short drive to town. The home contains 12,712 s.f. with five bedrooms, seven full baths with three half baths.  Aspects of the home I liked were the double height library, the flow of the house, the wine cellar, the media room, and the master suite. 

There are 655 current properties for sale in all of Greenwich.

I have also included a link to the 3rd Quarter Market Report my firm puts out for your review.

3rd Quarter Market Report

I would like to take a minute to thank everyone.  We just ended the third quarter.  There are over 1,120 Realtors in Greenwich and when counting my private sales I ranked 12th in gross volume for the third quarter.  I truly appreciate everyone who takes the time to read and follow this blog as well as those of you who have used me and continue to tell your friends about me.  Thank you.  The charts are as of end of Q3, the open house list has been updated. 

I have invested in my own MLS Search for my readers.  This will give access to a lot of the listing information I have.  Also, if I have already set you up with your personal portal, you will now be able to search your own searches outside of what I set up for you.  Feel free to test out and search properties.  I feel the best attribute is that you can save your own search and choose to get alerts as new properties come on to the market, properties are sold, or change in price.  All specific to your customized search.  Hence, you will speed up your learning curve, becoming an expert in the specific market you care about.

Please let me know if you would like me to provide customized information or statistics for you based on your criteria.

**The information on the featured property and all statistical information is from the Greenwich MLS.

**All opinions garnered from the statistics are my own

Properties Sold   As you can see from above a great September for us.  The first month since January where we have double digit percentage growth in amount of transactions over last year. New Listings We had 157 new listings in September very comparable to last year's 160.

Year to Date Sold The percentages have leveled off and are sustaining, all percentages are the same vs. the end of last month.   Year to Date Available    In an effort to define the different markets as a good time to buy or sale I believe one needs to look at the months on average it would take to sell through the inventory we have.  This one below is the amount of months on average to sell through our current inventory based on 2014 ytd sold numbers by price range. Price Range 1/31/14 2/28/14 3/28/14 4/25/14 5/16/14 7/31/14 0-$500K 10.2 6.0 7.0 6.1 5.5 5.6 $500K-$1M 9.7 8.6 9.0 8.7 8.6 5.2 $1M-$1.5M 5.5 9.5 8.9 10.3 7.8 6.4 $1.5M-$2M 8 14.5 13.6 18.4 17.8 11 $2M-$3M 4.7 9.2 11.6 14.3 14.2 11.1 $3M-$4M 11 13.1 11.8 14.2 14.5 10.4 $4M-$5M 11.9 8.9 13.1 14.4 22.1 17.7 $5M-$7.5M 20.7 32.0 39.5 59 56.6 32 $7.5M-$10M n/a n/a 71.5 51 31.5 59.5 $10M+ 22.4 27.2 42.0 22.7 33.8 29.9   I believe these chart above and below best show the Greenwich market.  If you look at the months on average to sell through the inventory I believe it best shows the market.  I have done two reports, one based on last year's activity and one based on this year's activity.  You will see that across the board the months on average are down year to date, which may seem counter intuitive if I am saying that the transactions are down.  However, the end of July is typical when the least amount of inventory is out there, due to being past the spring market and before the fall market.  Hence, when you compare it to the chart with the 2013 activity you see that the months on average are higher. The chart below is the amount of months on average to sell throughcurrent inventory based on all of 2013 sold numbers by price range.  Price Range 8/30/13 9/30/13 10/25/13 11/30/13 12/30/13 1/31/14 2/28/14 3/28/14 4/25/14 5/16/14 7/31/14 0-$500K 4.26 4.4 5.2 4.2 4 4.2 4 3.8 3.7 4 4.1 $500K-$1M 4.65 4.9 4.6 3.4 3.2 3 3.8 4.4 5.2 5.4 4.7 $1M-$1.5M 4.96 5.2 4.6 3.6 3 3.5 4 4.1 5.6 5.4 5.8 $1.5M-$2M 5.61 5.6 5.1 5 4.7 5 6.4 6.1 7.2 7.1 8.7 $2M-$3M 7.84 9.1 8.3 6.3 5.4 5.9 6.9 8 9.1 10.3 9.7 $3M-$4M 20.22 23.4 21.3 17.1 15.8 16.3 15.3 16.5 19.8 18.5 19.8 $4M-$5M 22 23.9 25.3 18.8 14.1 15 13.7 13.7 18 21 22.7 $5M-$7.5M 40.8 31.6 26.4 25 21.5 22.2 24 25.1 28.4 32 26.5 $7.5M-$10M 44.8 52.1 58.8 53.1 46.3 46.3 46.3 42.9 46.3 48 58.3 $10M+ 272 103.2 92.1 72.2 61.5 66 63 66 54 67.5 70.5 I find these two charts to be very intriguing.  One can see the huge discrepancy based on the 2013 numbers between the luxury market and under $3M.  However, at the top if we use the inventory based on the ytd sold numbers it is not as definitive. The luxury market is doing much better than last year and each market seems to be doing relatively well.

Open Houses for November 2nd       Below are the 42 open houses this weekend.   Street Name Area List Price Time Listing Office 28 Rippowam Road #A Cos Cob $3.5K 2-4 p.m. David Ogilvy 66 Richland Road #2 Greenwich $3.5K 12-3 p.m. Raveis 48 Rodwell Avenue #A Greenwich $4K 1-3 p.m. Raveis 53 Indian Field Road Greenwich $5K 12-2 p.m. Raveis 45 William Street #A Greenwich $6.5K 1-4 p.m. BHHS 2 Idar Court #A Greenwich $11K 2-4 p.m. Coldwell Banker 53 Rodwell Avenue #A Greenwich $494K 1-4 p.m. Keller Williams 47 Lafayette Place #2I Greenwich $549K 1-3 p.m. Raveis 165 Pine Street Greenwich $565K 1-3 p.m. Weichert 66 Richland Road #2 Greenwich $629K 12-3 p.m. Raveis 13 Fletcher Avenue Greenwich $650K 2-4 p.m. Weichert 48 Rodwell Avenue #A Greenwich $669K 1-3 p.m. Raveis 100 Strickland Road #8 Cos Cob $670K 2-4 p.m. Raveis 303 Bruce Park Avenue Greenwich $699K 1-3 p.m. Weichert 80 Bedford Road Greenwich $1M 1-4 p.m. BHHS 35 Center Drive Old Greenwich $1.085M 1-3 p.m. Halstead 21 West End Avenue Old Greenwich $1.099M 1-3 p.m. BHHS 285 Bruce Park Avenue #A Greenwich $1.195M 1-3 p.m. Weichert 285 Bruce Park #B Greenwich $1.495M 1-3 p.m. Weichert 1017 North Street Greenwich $1.275M 12-3 p.m. Douglas Elliman 17 Manor Road Old Greenwich $1.295M 1-4 p.m. Coldwell Banker 53 Indian Field Road Greenwich $1.399M 12-2 p.m. Raveis 1 Old Church Road #7 Greenwich $1.4M 2-5 p.m. Coldwell Banker 365 Round Hill Road Greenwich $1.595M 12-2 p.m. Weichert 30 Old Stone Bridge Cos Cob $1.595M 2-4 p.m. BHHS 45 William Street #A Greenwich $1.63M 1-4 p.m. BHHS 233 Milbank Avenue #8 Greenwich $1.795M 1-3 p.m. Houlihan Lawrence 24 Bedford Road Greenwich $2.15M 2-4 p.m. Raveis 55 Shore Road Old Greenwich $2.195M 2-4 p.m. Weichert 285 Bruce Park Avenue Greenwich $2.39M 1-3 p.m. Weichert 88 Dingletown Road Greenwich $2.395M 12-3 p.m. William Pitt Sotheby's 3 Azalea Terrace Cos Cob $2.399M 1-4 p.m. BHHS 2 Idar Court #A Greenwich $2.475M 2-4 p.m. Coldwell Banker 34 Hearthstone Drive Riverside $2.5M 1-4 p.m. BHHS 17 Mortimer Drive Old Greenwich $2.749M 1-3 p.m. Houlihan Lawrence 420 North Street Greenwich $2.795M 1-4 p.m. Sotheby's 1333 King Street Greenwich $2.845M 1-4 p.m. BHHS 7 Holman Lane Old Greenwich $3.395M 2-4 p.m. Raveis 38 Bramble Lane Riverside $3.895M 1-4 p.m. BHHS 70 Sherwood Avenue Greenwich $3.975M 1-4 p.m. Charles Paternina 30 Vineyard Lane Greenwich $4.85M 1-3 p.m. Coldwell Banker 21 Midwood Drive Greenwich $10.85M 1-3 p.m. Coldwell Banker Best,                                                                                                                                                         Jared Randall                                                 Join my Mailing List Houlihan Lawrence Greenwich                     Search Properties www.greenwichrealestateguy.com                Forward to a Friend cell:  203-273-1034                                         View My Website email:  jrandall@houlihanlawrence.com     Like me on Facebook

Mortgage Information There are two individuals I feel most confident about when it comes to home mortgages.  One in Manhattan and one in Greenwich.  They are Jeff Ihrig of First Republic in Manhattan, and in Greenwich I prefer Treena David-Chirico of Wells Fargo NMLSR ID 404288. Jeff can be reached at 646-372-5181.  Treena's phone number is 203-618-3923.  You can go to her website to input your specific information to receive rates.  Her website is www.wfhm.com/treena-david-chirico.