Sunday
Aug042019
Greenwich Real Estate Guy's Blog: 2nd Quarter Market Report and July 21st Open House List
Jared Randall
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Pictured above is our 2nd Quarter Market Report. As you can see the market is still a trying market for sellers, where pricing and value are the two deciding factors.
There's something for everyone to enjoy in Greenwich, Connecticut during our summer months. The Town of Greenwich operates an 18-hole golf course, numerous tennis courts, a beautiful new pool, pristine beaches and even seasonal ferry service to Island Beach Park and Great Captains Island for residents. If that's not enough we have spacious inland and coastal parks for hiking, riding horses and mountain biking.
The summer, however, tends to be quieter in real estate. While we saw a modest improvement in market conditions in the second quarter it wasn't enough to erase the losses from the previous quarter. Home sales dropped 12% year over year in Q2. A weak NYC market, the impact of recent tax reforms and a perception that the market has more room to decline has kept some buyers patiently on the sidelines. Those that have stepped up and are making offers are getting value-driven deals done.
What catches a buyer's attention today? Strategic initial pricing plays a key role in reducing days on market and maximizing a selling price. In 2019, it's taken, on average, more than 230 days to sell a home. However, when a home is priced in a way that doesn't require a reduction to sell the average days on market falls to just 80 days. With inventory on the rise, it is more important than ever to price leaner than the competition. Condition also plays a critical role in attracting buyers today. Buyers are doing their initial home tours online and a seller can run the risk of rejection before the buyer even physically visits a home. Savvy sellers have noticed and are sprucing up their homes and often staging them to get more online clicks, showings and offers.
Among the highlights from the second quarter was a nearly 40% jump in the geography North of the Merritt Parkway. Buyers have taken notice of price declines here and stepped in to take advantage of the value propositions. Mid-Country Greenwich also experienced a nearly 8% increase in home sales last quarter. Value is proving to dictate where the buyers perform.
We are grateful to our world class agents and loyal clients who have made Houlihan Lawrence retain our leadership position in Greenwich, Connecticut for more than four and a half years. Thank you.
There are 67 Open Homes this Sunday.
| Street Name | Area | List Price | Time | Listing Office |
| 43 Locust Street | Greenwich | $6.2K | 1-3 p.m. | Coldwell Banker |
| 2 Clark Street | Old Greenwich | $7.2K | 1-3 p.m. | Greenwich Custom |
| 128 Valley Drive | Greenwich | $8.3K | 2-4 p.m. | Sotheby's |
| 483 Round Hill Road | Greenwich | $16K | 1-3 p.m. | Houlihan Lawrence |
| 8 Buckthorne Lane | Greenwich | $18K | 1-3 p.m. | Houlihan Lawrence |
| 190 Putnam Park | Greenwich | $398K | 1-3 p.m. | Raveis |
| 9 Putnam Park | Greenwich | $400K | 2-4 p.m. | Douglas Elliman |
| 47 Pemberwick Road | Greenwich | $495K | 2-4 p.m. | Sotheby's |
| 47 Pemberwick Road | Greenwich | $495K | 2-4 p.m. | Sotheby's |
| 453 Putnam Avenue #1D | Cos Cob | $595K | 1-3 p.m. | Marr and Caruso |
| 25 Cary Road | Riverside | $599K | 2-4 p.m. | Raveis |
| 7 River Road #309 | Cos Cob | $629K | 1-3 p.m. | Douglas Elliman |
| 1 Scott Lane | Greenwich | $699K | 1-3 p.m. | Coldwell Banker |
| 70 Riverdale #1004 | Greenwich | $749K | 1-3 p.m. | Halstead |
| 193 Hamilton Avenue #10 | Greenwich | $7459.99K | 1-4 p.m. | Houlihan Lawrence |
| 188 Henry Street #B | Greenwich | $799K | 2-4 p.m. | Coldwell Banker |
| 54 Center Drive | Old Greenwich | $799K | 12-1 p.m. | Global Real Estate |
| 500 River Road #11 | Cos Cob | $840K | 1-3 p.m. | BHHS |
| 115 River Road #7 | Cos Cob | $850K | 11-1 p.m. | Executive |
| 21 Wessels Place | Greenwich | $899K | 12-2 p.m. | Raveis |
| 207 Glenville Road | Greenwich | $1.039M | 12-2 p.m. | Coldwell Banker |
| 625 Lyon Farm | Greenwich | $1.065M | 1-3 p.m. | BHHS |
| 27 Annjim Drive | Greenwich | $1.075M | 12-2 p.m. | Douglas Elliman |
| 66 Valleywood Road | Cos Cob | $1.098M | 1-3 p.m. | Halstead |
| 500 River Road #17 | Cos Cob | $1.125M | 2-4 p.m. | Coldwell Banker |
| 31 Mallard Drive | Greenwich | $1.15M | 1-3 p.m. | Sotheby's |
| 7 Jackson Street | Cos Cob | $1.199M | 1-3 p.m. | Compass |
| 160 Byram Shore | Greenwich | $1.25M | 1-3 p.m. | Sotheby's |
| 160 Byram Shore | Greenwich | $1.245M | 1-3 p.m. | Sotheby's |
| 4 Banksville Road | Greenwich | $1.265M | 2:30-4:30 p.m. | Coldwell Banker |
| 63 Wildwood Drive | Greenwich | $1.4988M | 12-2 p.m. | Coldwell Banker |
| 5 Finney Knoll | Riverside | $1.55M | 1-3 p.m. | BHHS |
| 31 Guinea Road | Greenwich | $1.575M | 2-4 p.m. | Houlihan Lawrence |
| 7 Lia Fail Way | Cos Cob | $1.595M | 2-4 p.m. | Houlihan Lawrence |
| 6 Buxton Lane | Riverside | $1.595M | 2-4 p.m. | BHHS |
| 128 Valley Drive | Greenwich | $1.899M | 2-4 p.m. | Sotheby's |
| 6 Wyngate Road | Greenwich | $1.995M | 12-2 p.m. | Houlihan Lawrence |
| 1 Ford Lane | Old Greenwich | $2.0875M | 12-4 p.m. | BHHS |
| 165 Lake Avenue | Greenwich | $2.15M | 12-2 p.m. | Houlihan Lawrence |
| 49 Lockwood Lane | Riverside | $2.29M | 2-4 p.m. | Houlihan Lawrence |
| 4 Weston Hill Road | Riverside | $2.495M | 1-4 p.m. | Sotheby's |
| 2 Dewart Road | Greenwich | $2.5M | 1-3 p.m. | BHHS |
| 2 Dewart Road | Greenwich | $2.5M | 1-3 p.m. | BHHS |
| 100 Hendrie Avenue | Riverside | $2.595M | 1-3 p.m. | Centric |
| 130 Lower Cross Road | Greenwich | $2.65M | 1-3 p.m. | Sotheby's |
| 64 Lockwood Avenue | Old Greenwich | $2.795M | 2-4 p.m. | Halstead |
| 11 Dialstone Lane | Riverside | $2.995M | 12-2 p.m. | Five Corner's |
| 7 Nawthorne Road | Old Greenwich | $3.15M | 1-3 p.m. | Sotheby's |
| 1 Lismore Lane | Greenwich | $3.15M | 12-4 p.m. | Coldwell Banker |
| 27B Bayside Terrace | Riverside | $3.295M | 1-3 p.m. | Sotheby's |
| 27A Bayside Terrace | Riverside | $3.395M | 1-3 p.m. | Sotheby's |
| 4 Highgate Road | Riverside | $3.595M | 2-4 p.m. | Compass |
| 26 Cobb Island Drive | Greenwich | $3.695M | 1-3 p.m. | Abart |
| 291 Stanwich Road | Greenwich | $3.7M | 1-3 p.m. | Sotheby's |
| 174 Shore Road | Old Greenwich | $3.7M | 2-4 p.m. | Sotheby's |
| 1 Tower Lane | Old Greenwich | $3.829M | 1-3 p.m. | Houlihan Lawrence |
| 25 Dublin Hill Drive | Greenwich | $3.995M | 1-3 p.m. | Sotheby's |
| 4 Jones Park | Riverside | $3.995M | 2-4 p.m. | Houlihan Lawrence |
| 8 Buckthorne Lane | Greenwich | $4.15M | 1-3 p.m. | Houlihan Lawrence |
| 33 Willowmere Circle | Riverside | $4.45M | 2-4 p.m. | Houlihan Lawrence |
| 483 Round Hill Road | Greenwich | $4.495M | 1-3 p.m. | Houlihan Lawrence |
| 2 Conyers Farm | Greenwich | $4.495M | 4-6 p.m. | Compass |
| 3 Hill Road | Greenwich | $4.495M | 2-4 p.m. | Centric |
| 373 Taconic Road | Greenwich | $5.5M | 2-4 p.m. | Houlihan Lawrence |
| 105 Parsonage Road | Greenwich | $5.995M | 1-3 p.m. | BHHS |
| 7 Bryon Road | Old Greenwich | $6.995M | 2-4 p.m. | Sotheby's |
| 15 Reynwood Manor | Greenwich | $8.995M | 1-3 p.m. | Coldwell Banker |
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.
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Best,
Jared Randall Join my Mailing List
Houlihan Lawrence Greenwich Search Properties
cell: 203-273-1034 View My Website
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