Greenwich CT, Residential Real Estate Blog and Analysis: July 17th Second Quarter Report

Greenwich, CT Residential Real Estate Blog and Analysis:   July 17th- Second Quarter Report A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

As the second quarter came to a close, I would like to thank everyone. I have sold four properties privately (meaning they were not openly for sale on the market) this year.  Including those deals, I am currently ranked 15th out of over 1,300 agents in total volume sold and 4th overall in number of transactions.  It means a lot that people find this blog/newsletter informative, and have put their trust and faith in me.  Please do not hesitate to reach out if you would like to view the featured property, or any other properties.  Also, I would be happy to give an evaluation of your house, or run any analysis for you.  My cell is 203-273-1034 and email is jrandall@houlihanlawrence.com. For past newsletters feel free to visit www.greenwichrealestateguy.com/blog. The above featured property is located at 75 Conyers Farm Drive.  There are countless aspects of this estate that spoke to me.  First off, it is located in the exclusive Conyers Farm enclave.  The house boasts 16,386 s.f. with seven bedrooms and seven full baths, and two half baths.  However, the flow of the house was put together very thoughtfully.  The transitions from room to room were seamless and I could feel the way a family would live and make use of the space.  There is a magnificent pool and pool house, along with a guest house and a tennis court.  The interior of the home has 12 foot ceilings with tons of light.  The architectural detail along with the walls of window added to the flow.  There is a phenomenal wine room that wraps around and can hold the grandest of collections.  The master suite and chef's kitchen add to the many amenities of the home.  The listing price is $8.998M. 2nd Quarter Analysis There are currently 676 properties for sale in Greenwich.  Last year at this time there were 690 properties.  When you look at the charts below you will see that we had an incredible June ending a great 2nd Quarter for the market.  With the long winter we had this year, it seems a lot got pushed back and we had 131 closed properties in June.  We have had 135 new listings come on in June, so will be interesting to see if this new inventory helps or hurts the market.  The single family homes sold grew by 15% in the 2nd quarter over the last year, and the median price grew 9%. To see how much of an impact June had on the market scroll down to the months on average chart below.  Please click on the below reports for more specific information.  The Q2 report is exceptional and really dives into different sections of the community. Q2 and June Reports for Markets Q2 Greater Greenwich Report Greenwich June Monthly Report Cos Cob June Monthly Report Riverside June Monthly Report Old Greenwich June Monthly Report   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   We As you can tell by the above graph.  We have had a great two months.  May and June really made up for a slower March and April and have pulled us ahead of last year's numbers.  In June 131 properties sold compared to 101 in June of last year. New Listings We had 135 new listings in June compared to 124 new listings last year.  Thus demonstrating we are more competitive than last year.  As we enter typically the slowest time of the year in the next two months I am intrigued to see if we can keep the momentum.    Year to Date Sold Below is what I said last month.  The inventory that hit the market in the lower numbers really help push the market.  We had a 50% growth sold in the $500K-$1M market in June where that price range grew from 57 properties sold to 82 in just one month.   "We had a lot of inventory hit the market but it is in the right price ranges.  The biggest jump was the $500K to $1M and the $2M-$3M ranges.  We also had a great May in regards to closed properties."   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.  The first chart is the 2014 inventory vs. sold numbers.  The second chart is inventory today vs. sold properties.   Price Range 1/31/14 2/28/14 3/28/14 4/25/14 5/16/14 7/31/14 12/31/14 0-$500K 10.2 6.0 7.0 6.1 5.5 5.6 3 $500K-$1M 9.7 8.6 9.0 8.7 8.6 5.2 3.7 $1M-$1.5M 5.5 9.5 8.9 10.3 7.8 6.4 4.4 $1.5M-$2M 8 14.5 13.6 18.4 17.8 11 6.7 $2M-$3M 4.7 9.2 11.6 14.3 14.2 11.1 7 $3M-$4M 11 13.1 11.8 14.2 14.5 10.4 9 $4M-$5M 11.9 8.9 13.1 14.4 22.1 17.7 18.4 $5M-$7.5M 20.7 32.0 39.5 59 56.6 32 25.1 $7.5M-$10M n/a n/a 71.5 51 31.5 59.5 21.6 $10M+ 22.4 27.2 42.0 22.7 33.8 29.9 35.2 Price Range 2/28/15 3/30/15 4/30/15 5/31/15 6/30/15 0-$500K 4.5 4 9.6 9.6 5.4 $500K-$1M 6.3 4.2 7.5 8.6 7.4 $1M-$1.5M 4.8 4.5 6 5.5 4 $1.5M-$2M 6.9 7 8.8 8.1 6.5 $2M-$3M 10.1 8 14 15 11.6 $3M-$4M 31 20.5 25.5 25.3 16.2 $4M-$5M 54.3 26.6 30.3 27.3 17.2 $5M-$7.5M 49.1 30.2 34.6 31.7 23.8 $7.5M-$10M 20.4 36 31.3 36.4 49.6 $10M+ 41.7 76.5 80.5 86 103.1 Notice the huge fall in the months on average to sell through the inventory.  Everything had a dramatic drop in just one month, except for the over $7.5M range.  This just shows how much June positively affected the market.  Looking at these two charts really shows the market and the difference between last year.  The numbers typically go up in April, as that is the month that the most amount of inventory hits the market.  It is interesting to see this year's change in the months on average vs. the same time last year. Open Houses for July 17th    Below are the 46 open houses on Sunday.   Street Name Area List Price Time Listing Office 7 Brookside Park Old Greenwich $5.3K 1-4 p.m. Re/Max 153 Putnam Park Greenwich $495K 1-4 p.m. Sotheby's 32 Mead Avenue Greenwich $510K 1-3 p.m. Coldwell Banker 38 Fletcher Avenue Greenwich $570K 1-3 p.m. Keller Williams 453 E. Putnam #4I Cos Cob $575K 2-5 p.m. Raveis 148 Putnam Park Greenwich $599K 2-4 p.m. Coldwell Banker 7 River Road #305 Cos Cob $625K 10-12 p.m. Douglas Elliman 351 Pemberwick #101 Greenwich $675K 2-4 p.m. Raveis 5 Glen Street #403 Greenwich $749K 1-3 p.m. Coldwell Banker 7 Brookside Park Old Greenwich $799K 1-4 p.m. Re/Max 17 Amherst Road Riverside $829K 1-3 p.m. Houlihan Lawrence 35 Center Drive Old Greenwich $895K 1-3 p.m. Halstead 15 Stone Brook Lane Cos Cob $1.265M 1-3 p.m. Weichert 36 Sherwood Avenue Greenwich $1.29M 1-3 p.m. Raveis 41 Leonard Avenue Riverside $1.395M 1-4 p.m. Sotheby's 70 Gregory Road Cos Cob $1.5M 2-4 p.m. William Pitt Sotheby's 70 Bedford Road Greenwich $1.625M 1-3 p.m. Coldwell Banker 70 Bedford Road-land Greenwich $1.625M 1-3 p.m. Coldwell Banker 18 Duncan Drive Greenwich $1.645M 1-4 p.m. BHHS 365 Round Hill Greenwich $1.695M 12:30-2:30 Davenport 24 Shore Road Old Greenwich $1.695M 2-4 p.m. Dacid Ogilvy 7 Steeple Chase Greenwich $1.695M 1-3 p.m. Sotheby's 85 Lower Cross Greenwich $1.875M 1-3 p.m. Coldwell Banker 7 Heusted Drive Old Greenwich $1.9M 1-4 p.m. BHHS 69 Mallard Drive Greenwich $1.995M 1-3 p.m. Sotheby's 54 Sundance Drive Cos Cob $1.995M 2-4 p.m. Raveis 280 Riversville Road Greenwich $2.1M 2-4 p.m. Coldwell Banker 39 Lockwood Drive Old Greenwich $2.15M 2-4 p.m. Houlihan Lawrence 76 Summit Road Riverside $2.25M 2-4 p.m. Halstead 11 Pintail Lane Greenwich $2.35M 12-2 p.m. Houlihan Lawrence  28 Upland Drive Greenwich $2.395M 1-4 p.m. Sotheby's 9 William Street Riverside $2.595M 2-4 p.m. Houlihan Lawrence 215 Shore Road Greenwich $2.595M 2-4 p.m. Houlihan Lawrence 44 Cedar Cliff Riverside $2.95M 1-4 p.m. Coldwell Banker 97 Shore Road Old Greenwich $2.995M 2-4 p.m. Houlihan Lawrence 400 N. Maple Greenwich $3M 1-3 p.m. BHHS 257 Shore Road Greenwich $3.1M 2-4 p.m. Houlihan Lawrence 98 North Street Greenwich $3.75M 2-4 p.m. Coldwell Banker 67 Sound Beach Old Greenwich $3.795M 1-3 p.m. Coldwell Banker 10 Esther Place Old Greenwich $3.995M 2-4 p.m. Houlihan Lawrence 56 Milbank #2 Greenwich $3.995M 1-3 p.m. Coldwell Banker 1 Ashton Drive Greenwich $4.6M 2-4 p.m. Coldwell Banker 36 Perkins Road Greenwich $5.959M 2-4 p.m. Sotheby's 303 Milbank Greenwich $6.4M 1-3 p.m. Coldwell Banker 11 Partridge Hollow Greenwich $6.445M 1-3 p.m. Houlihan Lawrence 35 Winding Lane Greenwich $6.995M 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