Greenwich, CT Residential Real Estate Blog and Analysis: July 11th

Greenwich, CT Residential Real Estate Blog and Analysis:   July 11th    A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

The above colonial is located at 10 Maher Avenue in Greenwich.  Please let me know if you would like to set up a showing.  My cell is 203-273-1034. Charming Colonial in the Heart of Greenwich A sundrenched, in-town 5 bedroom colonial, steps away from shopping and schools, affords an open and airy floor plan providing wonderful flow. Built in 1933 this gracious 2334 sq. ft. home boasts hardwood floors, lofty ceilings and unique vintage details and sits on .19 acres of well-manicured, beautifully landscaped property. Recent upgrades include the cedar shingle roof and copper gutters. A quaint, new white picket fence graces the front of this delightful residence adding to its genuine curb appeal.   Step through the latched gate to a lush lawn, punctuated by mature hydrangea and rhododendron bushes.   A welcoming, large front porch with an inviting Dutch door leads into a stately entryway. The generous formal living room is bathed in natural light from the front facing bay windows and unfolds into the elegant dining room, complete with a wood-burning fireplace and swinging door to the butler's pantry. The casual living room, centered around another fireplace, expands into the bright kitchen, providing a perfect backdrop for intimate gatherings.   A small mudroom, powder room and side porch entry sit just conveniently off the family room, rounding out the main level. A spacious master bedroom, three additional bedrooms and a full bath comprise the sunlit second level. The top floor provides an additional private home office or bedroom, with a small landing space and easy access to a walk-in attic. A full bathroom and laundry room are located in the unfinished lower level, offering endless potential for additional recreational living space. The side porch accesses the detached two-car garage, and pristine level backyard with a private stone terrace. Ideally located on the same street as Brunswick Academy and just steps away from Greenwich Academy, Whole Foods and the esteemed Greenwich Avenue shopping and dining district. Convenient to the train and major highways to New York City. A charming home close to it all! Bullet Points: Built in 1933 New Cedar Shingle Roof New Copper gutters 2334 square feet .19 well-manicured, level acres 5 bedrooms 2 full baths/1 half bath Four levels Detached Two Car Garage Completely Rebuilt Large Front Porch Gas-lit Outdoor sconces Backyard Stone Terrace Belgian Block Lined Driveway White Picket Fence, recently added Mature plantings Central Air Conditioning 2 wood-burning fireplaces Listing Price:  $2.195M The stats have not been updated since last week. The first three months of 2014 we sold 128 properties vs 122 properties in 2013 which is up 4%.  However, the last three months April-June, we have sold 215 in 2014 down from 265 in 2013.  This is down 19% for the last three months and down 12% YTD.  Also, compared to this time last year we have 711 properties for sale in Greenwich compared to 692 last year.  Throughout this year we have typically been below inventory against last year.   The couple of positives in the market is that we have 110 properties that have met all of their contingencies and are just waiting for a close date.  With another 71 properties that are under contingent contract.   Another of the positives vs. last year is the luxury market, we have sold 8 properties over $10M which is more than all of last year.  When you look at the charts you will see the market leans more and more toward the buyer as you go up in price range.  This shows that this is the best time to trade up in price range.  If you can sell in the $2M-$3M range you will have a market where the buyers are looking, but if you buy in the $3M-$5M range you will buy in a market where it is less competitive. 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   This shows the difference in the first three months vs. the last three months.  You can see that June was lower than the last three years, that is a tad skewed as June of 2011 was the last month before tax advantage changed.  New Listings We had 158 new listings in May and 130 in June. We had more listings in June than the past few years, where May was more in line.    Year to Date Sold The percentages have leveled off.  The biggest differential is that the $2M-$3M grew two percentage points, while the $3M-$4M dropped two percentage points.  This shows that it is the perfect time to jump up in price range current.   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 0-$500K 10.2 6.0 7.0 6.1 5.5 $500K-$1M 9.7 8.6 9.0 8.7 8.6 $1M-$1.5M 5.5 9.5 8.9 10.3 7.8 $1.5M-$2M 8 14.5 13.6 18.4 17.8 $2M-$3M 4.7 9.2 11.6 14.3 14.2 $3M-$4M 11 13.1 11.8 14.2 14.5 $4M-$5M 11.9 8.9 13.1 14.4 22.1 $5M-$7.5M 20.7 32.0 39.5 59 56.6 $7.5M-$10M n/a n/a 71.5 51 31.5 $10M+ 22.4 27.2 42.0 22.7 33.8   I believe these chart above and below best show the Greenwich market.  We had an influx of inventory lately.  However, if you look at the specific price ranges 0-$500K dropped from 7 months to 5.5.  When looking closely you notice over the last six weeks the under $1.5M became more competitive, where the $1.5M-$4M became less competitive adding approximately three months per price range.  The $4M-$7.5M range is ice cold, and the luxury market of over $7.5M has actually done pretty well. 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 0-$500K 4.26 4.4 5.2 4.2 4 4.2 4 3.8 3.7 4 $500K-$1M 4.65 4.9 4.6 3.4 3.2 3 3.8 4.4 5.2 5.4 $1M-$1.5M 4.96 5.2 4.6 3.6 3 3.5 4 4.1 5.6 5.4 $1.5M-$2M 5.61 5.6 5.1 5 4.7 5 6.4 6.1 7.2 7.1 $2M-$3M 7.84 9.1 8.3 6.3 5.4 5.9 6.9 8 9.1 10.3 $3M-$4M 20.22 23.4 21.3 17.1 15.8 16.3 15.3 16.5 19.8 18.5 $4M-$5M 22 23.9 25.3 18.8 14.1 15 13.7 13.7 18 21 $5M-$7.5M 40.8 31.6 26.4 25 21.5 22.2 24 25.1 28.4 32 $7.5M-$10M 44.8 52.1 58.8 53.1 46.3 46.3 46.3 42.9 46.3 48 $10M+ 272 103.2 92.1 72.2 61.5 66 63 66 54 67.5 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 July 13th       Below are the 64 open houses this Sunday. Address Area List Price Time Listing Office 51 Forest Avenue #75 Old Greenwich $4.2K 1-3 p.m. Weichert 24 Shore Road Old Greenwich $7.5K 2-4 p.m. Houlihan Lawrence 6 Hemlock Drive Greenwich $9K 2-4 p.m. Houlihan Lawrence 993 Lake Avenue Greenwich $9K 1-4 p.m. Houlihan Lawrence 30 Sherwood Avenue Greenwich $12.5K 1-4 p.m. BHHS 18 Perryridge Road Greenwich $16K 1-3 p.m. Houlihan Lawrence 1535 Putnam #301 Old Greenwich $295K 2-4 p.m. Houlihan Lawrence 171 Putnam Park Greenwich $425K 1-4 p.m. BHHS 20 High Street Greenwich $569K 1-3 p.m. Coldwell Banker 71 Byram Road Greenwich $649K 1-3 p.m. Sotheby's 17 Pleasant Street Cos Cob $650K 1-3 p.m. Coldwell Banker 48 Rodwel Avenue #A Greenwich $669K 1-3 p.m. Raveis 303 Bruce Park Drive Greenwich $749K 12-3 p.m. Weichert 26 Hunt Terrace Greenwich $789K 2-4 p.m. Raveis 8 Relay Court Cos Cob $819.5K 2-4 p.m. Coldwell Banker 6 Buena Vista Drive Greenwich $839K 1-3 p.m. Weichert 70 Riverdale #903 Greenwich $839K 2-4 p.m. Coldwell Banker 40 Ettl Lane #14 Greenwich $855K 1-3 p.m. Weichert 19 Wescott Street Riverside $890K 11-1 p.m. Coldwell Banker 82 Northfield Street #A Greenwich $950K 1-3 p.m. Coldwell Banker 178 Weaver Street Greenwich $1.049M 1-3 p.m. Coldwell Banker 70 Gregory Road Cos Cob $1.35M 1-4 p.m. William Pitt Sotheby's 69 Stanwich Road Greenwich $1.375M 1-4 p.m. BHHS 36 Sherwood Avenue Greenwich $1.395M 1-4 p.m. Coldwell Banker 392 Davis Avenue Greenwich $1.495M 1-4 p.m. Raveis 134 Butternut Hollow Greenwich $1.65M 2-4 p.m. Houlihan Lawrence 106 Hunting Ridge Greenwich $1.695M 1-4 p.m. BHHS 24 Shore Road Old Greenwich $1.695M 2-4 p.m. Houlihan Lawrence 225 Milbank #A Greenwich $1.775M 1-4 p.m. Houlihan Lawrence 225 Milbank #B Greenwich $1.775M 1-4 p.m. Houlihan Lawrence 233 Milbank #6 Greenwich $1.795M 1-4 p.m. Houlihan Lawrence 233 Milbank #8 Greenwich $1.795M 1-4 p.m. Houlihan Lawrence 80 Elm Street #A Greenwich $1.825M 1-4 p.m. Houlihan Lawrence 223 Milbank #B Greenwich $1.875M 1-4 p.m. Houlihan Lawrence 11 Circle Drive Greenwich $2.085M 1-4 p.m. BHHS 55 Shore Road Old Greenwich $2.195M 1-3 p.m. Weichert 25 Willowmere Avenue Riverside $2.295M 1-3 p.m. Coldwell Banker 270 Palmer Hill Road Riverside $2.295M 2-5 p.m. Raveis 16 Crescent Road Riverside $2.295M 1-4 p.m. Coldwell Banker 39 Skylark Road Greenwich $2.345M 2-4 p.m. Houlihan Lawrence 27 Dandy Drive Cos Cob $2.395M 1-3 p.m. Sotheby's 10 Birchwood Drive Greenwich $2.495M 2-4 p.m. Houlihan Lawrence 178 Weaver Street Greenwich $2.499M 1-3 p.m. Coldwell Banker 30 Sherwood Avenue Greenwich $2.5M 1-4 p.m. BHHS 10 Newton Street Riverside $2.595M 1-4 p.m. BHHS 6 Hemlock Drive Greenwich $2.595M 2-4 p.m. Houlihan Lawrence 10 Deep Gorge Road Greenwich $2.695M 2-4 p.m. Houlihan Lawrence 680 Steamboat Road #4 Greenwich $2.7M 2-4 p.m. Houlihan Lawrence 33 Pleasant Street Riverside $2.749M 1-3 p.m. Keller Williams 6 Dingletown Road Greenwich $2.75M 2-4 p.m. Houlihan Lawrence 106 Patterson Avenue Greenwich $2.85M 2-4 p.m. Raveis 30 Hillcrest Park Road Old Greenwich $2.975M 1-4 p.m. Higgins Group 16 Mortimer Drive Old Greenwich $3M 2-4 p.m. Houlihan Lawrence 20 Heronvue Road Greenwich $3.375M 12-2 p.m. Coldwell Banker 180 North Street Greenwich $3.425M 2-4 p.m. Coldwell Banker 10 Ledge Road Old Greenwich $3.45M 1-4 p.m. BHHS 95 Connecticut Avenue Greenwich $3.695M 2-4 p.m. Coldwell Banker 18 Perryridge Road Greenwich $3.995M 1-3 p.m. Houlihan Lawrence 38 Bramble Lane Riverside $3.995M 1-4 p.m. BHHS 15 Lexington Avenue Greenwich $4.15M 1-3 p.m. Coldwell Banker 36 Day Road Greenwich $4.495M 2-4 p.m. Coldwell Banker 26 Glen Avon Drive Riverside $4.495M 1-4 p.m. BHHS 421 Field Point Road Greenwich $6M 1-4 p.m. BHHS 158 Clapboard Ridge Greenwich $6.449M 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.