Sunday
Aug052018
Greenwich Real Estate Guy's Blog: 2nd Quarter Market Analysis and August 5th Open House List
Jared Randall
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I will be hosting a public open house 33 Butler Street on Sunday from 1-4 p.m. Enjoy a wonderful indoor/outdoor lifestyle in this updated four-bedroom, two and a half bath home with a great deck, inviting stone terrace and greenhouse, set back on a well-landscaped, level .39 acre within walking distance to trains, schools, shopping, Cos Cob and Loughlin Parks. The sunny interior, with wood floors in most rooms, radiant skylights and three sets of sliding doors to the terrace, offers a granite clad kitchen with center island seating and stainless appliances; living and dining rooms with a vaulted beamed ceiling and fireplace; bay window seat and fireplace in family room; and mudroom. The private master suite boasts a vaulted ceiling with a skylight. Three additional bedrooms occupy the other side of the home. Also includes an outdoor shower and attached garage. The price is $1.43M.
From the Q2 Market Report from our CEO Stephen Meyers, and President Chris Meyers
The view looks good from where we sit this summer and we have you to thank for it.
Houlihan Lawrence remains at the top, as the #1 brokerage serving Greenwich, Connecticut. It is a credit to our world class agents, staff and most of all our clients that we participated in 7 of the top 10 sales in the second quarter.
As the previous quarter closed out, we predicted that when the weather improved, pent-up demand would boost our local property market. Because of our close ties in the community, we knew that serious and focused buyers were waiting in the wings, ready to finally buy their dream homes this spring.
We are thrilled to have been correct on that call. We were able to erase most of the declines of the first quarter, as both home sales and prices rose this in the most recent quarter. Rising home prices is also being seen at the national level. Home values jumped more than 7 percent in May, the biggest increase in 4 years according to CoreLogic.
We also remain vigilant in keeping tabs on relevant changes tied to the broader economic situation and political action in Washington D.C. Despite volatility, the stock market was higher in the second quarter. The job market remains strong, and corporate profits continue to grow, thanks in part to tax relief.
Buyers are still very specific when it comes to selecting a property. Homes are on the market longer, on average nearly 8 months. That is an indication that while buyers will buy when they see what they want, at the price they want, there is still no sense of urgency.
Serious sellers must have a competitive mindset ahead of listing. That means pre-market painting, along with updates, and in many cases, professional staging. Initial pricing needs to be strategic and realistic. Rising mortgage rates, and the increased cost of borrowing money for buyers also needs to be considered. An impartial outsider assessment of a property is an essential set in preparing to list a home.
Some regional statistics we'd like to share:
Greenwich North of the Parkway saw a spike in home sales, rising more than 85 percent in the second quarter compared to last year. Sellers still have to be patient. On average it can take close to a year to sell a property. But buyers are seeing value in the area and offers are conservative. That trend is reflected in a decline in average sales prices.
Sales were slower in Greenwich South of the Parkway but there were some price increases, most notably in the $4- $5m range. The highest demand is for properties priced under $2 million.
We were not surprised to see that home sales South of the Post Road benefited from their proximity to town and the waterfront community. The number of homes sold, and the average price, both gained traction.
Cos Cob was a standout success. The number of homes sold soared by 64 percent in the second quarter compared to last year. Average sale prices were higher by a staggering 34 percent. The area is close to the train for commuters, as well as dining and shopping.
Riverside home sales edged lower with some progress upward in pricing. Sellers should be mindful that buyers are taking their time. Days on market ballooned to over 200 days. Buyers don't want to overpay and have showed extreme patience in waiting for prices to come down.
There was a nice bump up in sales in Old Greenwich, though average sales prices barely inched higher. The picturesque community with its quaint village setting and bike ride to the beach remain a big attraction for buyers.
Condo sales in Greenwich showed healthy price gains. More units were sold as well. Buyers like new construction but will also pay up for pre-owned properties that are in A+ condition.
The success of the condo market is an example of the very real challenge many home owners face. While more buyers have the financial resources to move forward, they will not compromise on quality.
The market simply lacks FOMO, or Fear of Missing Out. Sellers who embrace the opportunity to upgrade their homes and manage their own price expectations will sell their property and be able to move forward with their future plans.
We accept the challenge and are ready to step up to be part of your winning team. We look forward to a winning summer season and welcoming new neighbors to our community.'
Stephen Meyers Chris Meyers
CEO President
Please feel free to email me at jrandall@houlihanlawrence.com or call at 203-273-1034 for anymore information.
Below are the 73 Open Homes for Sunday.
| Street Name | Area | List Price | Time | Listing Office |
| 2 Gerald Court | Riverside | $4.5K | 11-2 p.m. | Keller Williams |
| 11 Fairfield Avenue | Old Greenwich | $4.95K | 1-3 p.m. | Coldwell Banker |
| 35 Sound Beach Avenue | Old Greenwich | $5.95K | 1-3 p.m. | Sotheby's |
| 59 Riverside Lane | Riverside | $6.5K | 1-3 p.m. | BHHS |
| 6 Knoll Street | Riverside | $11K | 1-3 p.m. | Coldwell Banker |
| 81 Hendrie Avenue | Riverside | $12K | 2-4 p.m. | Coldwell Banker |
| 95 Stanwich Road | Greenwich | $13.5K | 1-3 p.m. | Raveis |
| 229 Stanwich Road | Greenwich | $14.85K | 1-3 p.m. | Houlihan Lawrence |
| 29 Glen Avon Drive | Riverside | $16K | 2-4 p.m. | Halstead |
| 1535 E. Putnam #110 | Old Greenwich | $399K | 1-3 p.m. | Weichert |
| 190 Putnam Park | Greenwich | $465K | 1-3 p.m. | Davenport |
| 22 Putnam Park | Greenwich | $489K | 2-4 p.m. | Davenport |
| 108 Putnam Park | Greenwich | $510K | 2-4 p.m. | Weichert |
| 53 Rodwell #A | Greenwich | $524K | 2-4 p.m. | Raveis |
| 51 Rodwell #A | Greenwich | $539K | 2-4 p.m. | Raveis |
| 17 Palmer Street #4 | Cos Cob | $580K | 1-3 p.m. | Raveis |
| 51 Forest Avenue #72 | Old Greenwich | $629K | 2-4 p.m. | Anderson Associates |
| 37 Sheephill Road #6 | Riverside | $649K | 2-4 p.m. | Douglas Elliman |
| 25 Hollow Wood | Greenwich | $680K | 1-3 p.m. | Coldwell Banker |
| 70 Riverdale #1003 | Greenwich | $735K | 1-3 p.m. | Coldwell Banker |
| 11 River Road #116 | Cos Cob | $748K | 1-3 p.m. | Houlihan Lawrence |
| 40 Woodland Drive #A | Greenwich | $770K | 1-3 p.m. | Raveis |
| 16 Sunshine Avenue | Riverside | $839K | 1-3 p.m. | Coldwell Banker |
| 2 Gerald Court | Riverside | $849K | 11-2 p.m. | Keller Williams |
| 69 Riverdale #104 | Greenwich | $859K | 2-4 p.m. | Coldwell Banker |
| 70 Riverdale #901 | Greenwich | $879K | 2-4 p.m. | Coldwell Banker |
| 147 E. Elm | Greenwich | $895K | 1-3 p.m. | BHHS |
| 60 Valley Road #B | Cos Cob | $895K | 1-3 p.m. | Coldwell Banker |
| 16 Heusted Drive | Old Greenwich | $980K | 1-4 p.m. | New England |
| 40 Oak Ridge Street #1B | Greenwich | $1.075M | 1-3 p.m. | Coldwell Banker |
| 47 Sachem Lane | Greenwich | $1.075M | 2-4 p.m. | Sotheby's |
| 362 Davis Avenue #4 | Greenwich | $1.095M | 2-4 p.m. | David Ogilvy |
| 11 Fairfield Avenue | Old Greenwich | $1.095M | 1-3 p.m. | Coldwell Banker |
| 43 Sundance Drive | Cos Cob | $1.095M | 1-3 p.m. | Sotheby's |
| 1044 North Street | Greenwich | $1.1M | 1-4 p.m. | Keller Williams |
| 9 Fairfield Avenue | Old Greenwich | $1.125M | 1-3 p.m. | Exp Realty |
| 15 Robin Place | Old Greenwich | $1.147M | 1-3 p.m. | Houlihan Lawrence |
| 37 Lockwood Lane | Riverside | $1.15M | 2-4 p.m. | Keller Williams |
| 35 Sound Beach Avenue | Old Greenwich | $1.199M | 1-3 p.m. | Sotheby's |
| 2 Bote Court | Greenwich | $1.37M | 2-4 p.m. | BHHS |
| 61 Orchard Place #B | Greenwich | $1.38M | 1-3 p.m. | BHHS |
| 33 Butler Street | Cos Cob | $1.43M | 1-4 p.m. | Houlihan Lawrence |
| 4 Banksville Road | Greenwich | $1.495M | 1-3 p.m. | Coldwell Banker |
| 116 Old Stone Bridge | Cos Cob | $1.495M | 1-3 p.m. | Houlihan Lawrence |
| 22 Mianus View | Cos Cob | $1.499M | 2-4 p.m. | Houlihan Lawrence |
| 142 Sound Beach | Old Greenwich | $1.585M | 1-3 p.m. | Sotheby's |
| 62 Long Meadow Road | Riverside | $1.629M | 1-3 p.m. | Houlihan Lawrence |
| 59 Riverside Lane | Riverside | $1.695M | 1-3 p.m. | BHHS |
| 45 William Street #B | Greenwich | $1.75M | 1:30-3:30 p.m. | Kinard Realty |
| 340 Field Point | Greenwich | $1.995M | 2-4 p.m. | Houlihan Lawrence |
| 14 Rockview Drive | Greenwich | $2M | 2-4 p.m. | Houlihan Lawrence |
| 32 Loughlin Avenue | Cos Cob | $2.145M | 1-3 p.m. | Raveis |
| 37 Crescent Road | Riverside | $2.15M | 1-3 p.m. | Raveis |
| 81 Hendrie Avenue | Riverside | $2.195M | 2-4 p.m. | Coldwell Banker |
| 15 Shady Lane | Greenwich | $2.265M | 2-4 p.m. | Coldwell Banker |
| 2 Randolph Place | Cos Cob | $2.295M | 2-4 p.m. | Coldwell Banker |
| 6 Knoll Street | Riverside | $2.395M | 1-3 p.m. | Coldwell Banker |
| 22 Indian Head Road | Riverside | $2.395M | 1-3 p.m. | BHHS |
| 199 Palmer Hill | Old Greenwich | $2.595M | 11-1 p.m. | Higgins Group |
| 11 Meyer Place | Riverside | $2.65M | 1-3 p.m. | Sotheby's |
| 9 Stallion Trail | Greenwich | $2.95M | 12-2 p.m. | Keller Williams |
| 95 Stanwich Road | Greenwich | $2.995M | 1-3 p.m. | Raveis |
| 24 Pell Place | Riverside | $3.395M | 2-4 p.m. | BHHS |
| 19 S. End Court | Old Greenwich | $3.395M | 1-4 p.m. | Five Corners |
| 123 Maple Avenue | Greenwich | $3.625M | 1-3 p.m. | Houlihan Lawrence |
| 229 Stanwich Road | Greenwich | $4.45M | 1-3 p.m. | Houlihan Lawrence |
| 16 Boulder Brook | Greenwich | $4.995M | 1-4 p.m. | Coldwell Banker |
| 8 Buckthorne Lane | Greenwich | $4.995M | 1-3 p.m. | Houlihan Lawrence |
| 5 Crossway | Old Greenwich | $5.195M | 1-3 p.m. | Halstead |
| 10 Crossway | Old Greenwich | $5.485M | 1-3 p.m. | Raveis |
| 30 Club Road | Riverside | $5.995M | 1-4 p.m. | BHHS |
| 189 Shore Road | Old Greenwich | $6.195M | 2-4 p.m. | Halstead |
| 29 Glen Avon Drive | Riverside | $6.5M | 2-4 p.m. | Halstead |
I have paid to open the MLS to you, so feel free to search properties based on your own parameters or set up a portal to get notifications on a customized search. For readers that just follow on the Greenwich Patch I will not be posting all entries on the patch. You can read all postings at www.greenwichrealestateguy.com/blog.
If easier, please subscribe here to receive each post. Please do not hesitate to email (jrandall@houlihanlawrence.com) or call (203-273-1034) if I can assist in any way.
Best,
Jared Randall
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