About Me

 

 Jared G Randall

Houlihan Lawrence

100 West Putnam Avenue

Greenwich, CT 06830

Cell:    203-273-1034

Office: 203-869-0700 x40250

email: jrandall@HoulihanLawrence.com

 

 

Sunday
Oct212012

Greenwich Real Estate Guy: Greenwich CT-Residential Analysis and Blog: 10/19/12

Greenwich, CT Residential Real Estate Analysis: October 19th
A weekly analysis brought to you by Greenwich Real Estate Guy.
21 Ridge Road

 The above beautifully updated home is located at 21 Ridge Road in Cos Cob.  It has been on the market for four days.  This property is located within walking distance to the Elementary, Middle, and High School.  The house is sitting on .25 of an acre and contains three bedrooms along with two baths.  It is listed as 2,174 square feet and is for sale at $1.195M.  This is a turn key home ready for someone to move in.  It is listed as three bedrooms, with two upstairs and one on the main floor.  The current owners are using the bottom bedroom as an office/study.  The renovations and updates are what make this house great in my opinion. I alos liked the great landscaping.

 

We are continually seeing more properties come on to the market than are being sold.  For example last week, we had twenty nine new listings.  Yet, only fourteen properties closed.  Now, realize that the closed properties typically take thirty to sixty days to meet contingencies and go through contracts.  So, a more up to date barometer would be AOCTS (Accepted Offer Continue to Show).

We only had eleven of those last week, much less than the twenty nine new properties.  Hence, although our sold numbers are slowly moving up from years past, my personal opinion is the market will not start to show improvement until the solds, or AOCTS outpace the new listings.

This weekend is supposed to be beautiful out and with the colors of the leaves changing, it will be a great day for touring open houses.  As always, if you have a house in mind you would like to see, please do not hesitate to call.  I would also like to thank Mark Pruner for mentioning me in the Greenwich Patch.  

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

sold1019 We have passed 2011 sold numbers for October.  However, we are seeing the same trend, even with the 14 sold last week, there were 29 new listings.

 New Listings

newlistings10/19
We have had 29 new listings so far this month, which puts us up to 63 for the month.  It is looking like next week we could pass the numbers for 2011.

  Year to Date Soldytdsold1019

 

The biggest jump in houses this week was the seven that sold in the 500K-$1M range.  This made a 1% change in that category.

Year to Date Available

currentavailable1019  

 

Even though it did not show in the above chart we had the current available properties in the $4M-$5M range drop to 45 from 51, a more than ten percent drop in inventory.  As you will see below the $4M-$5M range is the only range that dropped this week and it dropped an astounding six weeks.

 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.  We are currently 42 weeks through the year. In the $0-$500K range we have 7.81 months on average to sell through. $500K-$1M  we have 6.34 months.  In the $1M-$1.5M we have 10.8 months. $1.5M-$2M we have 8.96 months.  $2M-$3M we have 12.25 months, a gain of a month.  $3M-$4M we have 18.43 weeks a gain of a month $4M-$5M we have 24.21 months, a drop of six weeks. $5M-$7.5M we have 24 months. $7.5-$10M we have 35.5 months providing a drop of one month.  $10M and above we have 40.5months.   

Open Houses October 21st
  
 

Below are all of the Greenwich Open Houses for Sunday.  If you click on the link it will take you to the listing.  It should be a beautiful weekend, so enjoy.  The first five on the list are for rent.

Address Town List Price Time Broker
60 Valley Road #A Cos Cob $4K 2-4 PM Raveis
60 Valley Road #B Cos Cob $4.2K 2-4 PM Raveis
543 Stanwich Road Greenwich $6.4K 1-4 PM Raveis
81 Sherwood Place #D Greenwich $8.5K 1-4 PM Prudential
30 Sherwood Avenue Greenwich $12.5K 1-3 PM Prudential
117 Putnam Park #117 Greenwich $375K 2-4 PM Sotheby's
1535 E Putnam Avenue #402 Old Greenwich $389.5K 1-3 PM Raveis
50 Valley Road #A2 Cos Cob $437.5K 1-3 PM Sotheby's
51 Forest Avenue #123 Greenwich $499K 1-4 PM Prudential
207 Sheephill Road Riverside $525K 1-3 PM Shore & Cntry Prop
49 Valley Road #A1 Cos Cob $598K 1-3 PM Sotheby's
60 Valley Road #A Cos Cob $599K 2-4 PM Raveis
47 Lafayette Place #4-I Greenwich $599K 1-4 PM Prudential
60 Valley Road #B Cos Cob $624.9K 2-4 PM Raveis
98 Putnam Park #98 Greenwich $695K 1-4 PM Raveis
133 Lake Avenue Greenwich $749K 1-4 PM Prudential
89 Prospect St Greenwich $799K 1-3 PM Sotheby's
5 North Ridge Rd Old Greenwich $898K 3-5 PM Prudential
25 Griffith Road Riverside $1.099M 2-4 PM Raveis
38 Breezemont Avenue Riverside $1.125M 1-4 PM Sotheby's
60 Valley Road A&B Cos Cob $1.22M 2-4 PM Raveis
13 Center Drive Old Greenwich $1.245M 2-4 PM Sotheby's
116 Lockwood Road Riverside $1.275M 2-4 PM Raveis
17 Stuart Drive Old Greenwich $1.375M 2-4 PM Sotheby's
81 Sherwood Place #D Greenwich $1.425M 1-4 PM Prudential
130 Woodside Drive Greenwich $1.469M 2-4 PM Sotheby's
77 Sherwood Place #B Greenwich $1.525M 1-4 PM Prudential
24 Burning Tree Road Greenwich $1.6999M 2-4 PM Sotheby's
34 Bote Road Lot 10 Tomney Road Greenwich $1.75M 1-4 PM Raveis
127 Havemeyer Place Greenwich $1.797M 1-4 PM Raveis
43 Stag Lane Greenwich $1.85M 2-4 PM Sotheby's
212 Bible Street Cos Cob $1.995M 2-4 PM Sotheby's
112 Taconic Road Greenwich $1.995M 1-4 PM Prudential
18 Welwyn Road Riverside $2.65M 1-4 PM Prudential
19 Crescent Road Riverside $2.695M 2-4 PM Raveis
30 Sherwood Avenue Greenwich $2.75M 1-3 PM Prudential
30 Sherwood Avenue Greenwich $2.75M 1-3 PM Prudential
543 Stanwich Road Greenwich $2.825M 1-4 PM Raveis
543 Stanwich Road Greenwich $2.825M 1-4 PM Raveis
127 Dingletown Road Greenwich $3.199999M 1-4 PM Raveis
55 Will Merry Lane Greenwich $3.25M 2-4 PM Coldwell Bnkr
64 Hillcrest Park Old Greenwich $3.495M 2-4 PM Sotheby's
1200 Lake Avenue Greenwich $3.85M 1-3 PM Prudential
487 North Street Greenwich $5.495M 2-4 PM Coldwell Bnkr
23 Cliffdale Road Greenwich $6.95M 12-2 PM Sotheby's
       

Mortgage Information

 

The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage.

 

Jeff can be reached at 646-372-5181.

 

Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202.

 

  

CT Mortgage Rates

Product

Interest Rates

Annual Percentage Rate

15 YR Fixed Conforming

2.625%

2.863%

30 YR Fixed Conforming

3.375%

3.514%

30 Year Fixed Agency  Jumbo

n/a

n/a

30 YR  Fixed Jumbo

3.990%

4.116%

5/1 YR ARM Conforming

2.250%

3.081%

5/1 YR ARM Jumbo

2.250%

3.060%

10/1 YR ARM Jumbo

3.375%

3.453%

 *as of July 15th
 
Friday
Oct122012

Greenwich Real Estate Guy: Greenwich CT-Residential Analysis and Blog: 10/12/12

Greenwich, CT Residential Real Estate Analysis: October 12th
A weekly analysis brought to you by Greenwich Real Estate Guy, Jared Randall
17 Welwyn

 

The above colonial is located at 17 Welwyn Road in Riverside and just came on the market.  This stunning house was built in 2006 and is described on the Greenwich MLS as a "this 'Green' Chic and impeccable home was built by Ken Bacco and designed by Architect Mockler Taylor.  Beautiful touches abound-5 inch wide Oak floors on the first floor, hand stenciled dining room walls, butler's pantry with Calcutta Gold marble counters, Mahogany built-ins in the library just to name a few.  The square footage does not reflect the 1,651 sq. ft. basement which includes a game room, wine room, full bath and guest/au-pair/ exercise room."  The property is .47 acre and the house is listed at 4,486 square feet.  The list price is $4.195M.

As I mentioned last week, the goal of this newsletter has always been to inform buyers and sellers alike.  Clients are always asking when is the right time to buy or sell.  My personal opinion is there is not a better time to buy than right now.  We know that regardless of who is president the Obama Healthcare plan that was passed, contains a federal transfer tax of 3.8% to go into affect January 1.  On top of that the Bush tax cuts are scheduled to expire at the end of the year.  If one, assumes a 60 day close and would want to spare the 3.8% transfer tax, they would need to be in contracts by the end of the month give or take a few weeks.  Which leaves only a few weeks to find the right house, negotiate a price, get inspections, and sign contracts to close by the end of the year.

With last week being an extended weekend I wanted to reiterate that we are seeing the sold properties grow continually over the last three months vs the sold properties in the same time period last year.  For the last three months we are about 25% higher in sold properties than we were in 2011.  However, we are seeing more new listings than we did last year.  In my opinion this is a sign that things are in the beginning stages of improving.  We have sold 25% more in July-September than we did last year, but just as important is we have not sold more properties than the amount of new listings coming onto the market.  So, even though it is encouraging we have more activity, until the sold properties outnumber the new inventory we will not see much change as the excess inventory is not declining.  My personal opinion is we will start to see closed properties outnumber (or close to it) the new listings in the last quarter, and work into a more competitive 2013.

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   

Best,                                                                     
                                                                                  
Jared Randall   

Greenwich, CT Residential Real Estate: Properties Sold

Another week demonstrating that although the sold properties are improving (8 more last week), we are being outpaced by the inventory additions (20 new listings last week).

 

Greenwich, CT Residential Real Estate: New Listings
newlistings1012
We have had 36 new listings so far this month, which is inline with the 71 we had last October.

   

Greenwich, CT Residential Real Estate: Year to Date Soldytdsold1012

 

Surprisingly we saw a one percentage change here and there, which is hard to believe this late in the year.  However, with only eight properties closing nothing that impacts the statistics.

 

Greenwich, CT Residential Real Estate: Year to Date Available
currentavailable1012  

 

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.  We are currently 38 weeks through the year. In the $0-$500K range we have 7.23 months on average to sell through. $500K-$1M  we have 6.15 months.  In the $1M-$1.5M we have 10.8 months. $1.5M-$2M we have 8.43 months.  $2M-$3M we have 11 months, a drop of a week.  $3M-$4M we have 17.34 weeks a gain of a week. $4M-$5M we have 25.5 months, a gain of three weeks. $5M-$7.5M we have 23.4 months. $7.5-$10M we have 33 months providing a drop of one month.  $10M and above we have 37.63 months.  

 

Open Houses October 14th
  
 

Below are all of the Greenwich Open Houses for Sunday.  If you click on the link it will take you to the listing.  I will be hosting an open house from 12-3 p.m. on Sunday at 106 Hunting Ridge Road in Greenwich.  Enjoy your weekend. 

Address Town Price Time Broker
49 Indian Mill Road Cos Cob $5,200/mo 1-4 PM Raveis
21 Mallard Drive Greenwich $6,000/mo 1-4 PM Coldwell Bnkr
21 Cat Rock Road Cos Cob $8,000/mo 1-4 PM Coldwell Bnkr
39 Willow Road Riverside $8,500/mo 1-4 PM Coldwell Bnkr
18 Lexington Avenue #A Greenwich $10,000/mo 1-4 PM Coldwell Bnkr
525 River Road Cos Cob $10,500/mo 1-4 PM New England Land
351 Pemberwick Road #110 Greenwich $335K 1-3 PM Raveis
1465 E Putnam Avenue #530 Old Greenwich $389K 1-4 PM Coldwell Bnkr
51 Old Kings Highway #1 Old Greenwich $495K 1-3 PM Shore & Cntry Prop
358 Long Ridge Road Stamford $579K 1-4 PM Prudential
60 Valley Road #A Cos Cob $645K 2-4 PM Raveis
9 River Road #419 Cos Cob $685K 1-4 PM Coldwell Bnkr
98 Putnam Park #98 Greenwich $695K 1-4 PM Raveis
64 Richland Road Greenwich $699K 1-4 PM Coldwell Bnkr
60 Valley Road #B Cos Cob $699.5K 2-4 PM Raveis
53 Harvest Ln Stamford $849K 1-4 PM Prudential
4 Lockwood Drive Old Greenwich $1.15M 1-4 PM Coldwell Bnkr
21 Mallard Drive Greenwich $1.199M 1-4 PM Coldwell Bnkr
86 Lower Cross Road Greenwich $1.249M 1-4 PM Weichert
49 Indian Mill Road Cos Cob $1.25M 1-4 PM Raveis
116 Lockwood Road Riverside $1.275M 2-4 PM Raveis
60 Valley Road #A & B Cos Cob $1.295M 2-4 PM Raveis
90 Buckfield Lane Greenwich $1.495M 1-4 PM Prudential
631 Long Ridge #12 Stamford $1.495M 1-4 PM Prudential
16 Norton Lane Old Greenwich $1.495M 1-4 PM Raveis
16 Norton Lane Old Greenwich $1.495M 1-4 PM Raveis
24 Shore Road Old Greenwich $1.568M 2-4 PM Coldwell Bnkr
21 Cat Rock Road Cos Cob $1.599M 1-4 PM Coldwell Bnkr
30 Stonebrook Lane Cos Cob $1.68M 1-4 PM Raveis
70 Bedford Road Greenwich $1.7M 1-4 PM Coldwell Bnkr
106 Hunting Ridge Road Greenwich $1.695M 12-3 PM Prudential
320 Valley Road Cos Cob $1.795M 1-4 PM Coldwell Bnkr
318 Valley Road Cos Cob $1.795M 1-4 PM Coldwell Bnkr
127 Havemeyer Place Greenwich $1.797M 1-4 PM Raveis
525 River Road Cos Cob $1.899M 1-4 PM New England Land
29 Hunting Ridge Road Greenwich $1.95M 2-4 PM Grnwich Fine Prop
1 Idar Court #B Greenwich $1.995M 1-3 PM Reloc. Group
18 Ravenglass Drive Stamford $2.195M 1-4 PM Prudential
120 Milbank Ave Greenwich $2.275M 2-4 PM Grnwich Fine Prop
17 Candelight Place Greenwich $2.275M 1-3 PM Prudential
145 Porchuck Road Greenwich $2.3M 1-4 PM Coldwell Bnkr
191 North Street Greenwich $2.4M 2-4 PM Coldwell Bnkr
55 Shore Road Old Greenwich $2.495M 1-4 PM Coldwell Bnkr
39 Willow Road Riverside $2.695M 1-4 PM Coldwell Bnkr
5 Dawn Harbor Lane Riverside $2.785M 1-4 PM Coldwell Bnkr
20 Stoney Ridge Lane Riverside $2.849M 2-4 PM Shore & Cntry Prop
82 Glenville Road Greenwich $2.875M 2-4 PM Grnwich Fine Prop
530 North Street Greenwich $2.995M 1-4 PM Raveis
55 Will Merry Lane Greenwich $3.25M 2-4 PM Coldwell Bnkr
43 Koefferam Road Old Greenwich $3.45M 1-3 PM Prudential
27 Chieftans Road Greenwich $3.595M 2-4 PM Grnwich Fine Prop
4 Cove Ridge Lane Old Greenwich $4.195M 1-4 PM Coldwell Bnkr
585 Round Hill Road Greenwich $4.495M 1-4 PM Coldwell Bnkr
101 Brookside Drive Greenwich $4.995M 2-4 PM Grnwich Fine Prop
487 North Street Greenwich $5.495M 2-4 PM Coldwell Bnkr

 

 

 
Saturday
Oct062012

Greenwich Real Estate Guy: Greenwich CT-Residential Analysis and Blog: 10/5/12

Greenwich, CT Residential Real Estate Analysis: October 5th
A weekly analysis brought to you by The Greenwich Real Estate Guy.
20 Maplewood

 

The above ranch is located at 20 Maplewood Drive in Cos Cob.  I feel this is a great value.  I love the location of this house for the price of $895K.  It is within walking distance to Cos Cob train station and shops.  When walking through the house it had a newer feel than that of the year 1957 when it was built.  The owners have obviously done renovations, that included refinishing the floors.  They are also in the process of renovating a walk out bonus room on the lower level which is an additional 507 s.f. to the 1,601 s.f. of the home.  The kitchen may need some renovating, but with the location and the renovations, I feel it is a great value.  The lot is on the smaller size with .18 of an acre.

 

The goal of this newsletter has always been to inform buyers and sellers alike.  Clients are always asking when is the right time to buy or sell.  My personal opinion is there is not a better time to buy than right now.  We know that regardless of who is president the Obama Healthcare plan that was passed, contains a federal transfer tax of 3.8% to go into affect January 1.  On top of that the Bush tax cuts are scheduled to expire at the end of the year.  If one, assumes a 60 day close and would want to spare the 3.8% transfer tax, they would need to be in contracts by the end of the month.  Which leaves only a few weeks to find the right house, negotiate a price, get inspections, and sign contracts to close by the end of the year.

 

As you will see by looking at the charts below, we are seeing the sold properties grow continually over the last three months vs the sold properties in the same time period last year.  For the last three months we are about 25% higher in sold properties than we were in 2011.  However, we are seeing more new listings than we did last year.  In my opinion this is a sign that things are in the beginning stages of improving.  We have sold 25% more in July-September than we did last year, but just as important is we have not sold more properties than the amount of new listings coming onto the market.  So, even though it is encouraging we have more activity, until the sold properties outnumber the new inventory we will not see much change as the excess inventory is not declining.  My personal opinion is we will start to see closed properties outnumber (or close to it) the new listings in the last quarter, and work into a more competitive 2013.

 

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

sold 10/05 

We have seen an impressive number of closings over the last two weeks.  September 2012 had a strong ending, finishing up 25% and October is off to a hot start with 15 closings.  In all of October last year there were only 32 closings and we have had 15 in the first five days this October.  To reiterate the point above, we also had 16 new listings, so it is a positive sign, but we are not yet eating into the excess inventory.

 

New Listings
newlistings 10/05
We have had 16 new listings so far this month, which is inline with the 71 we had last October.

 

  
Year to Date Soldytdsold1005

 

Surprisingly we saw a one percentage change here and there, which is hard to believe this late in the year.  However, over the last week we saw 9 properties sold in the $500K-$1M range raising the ytd number to 164 from 155.  The second biggest gain was the $1.5M-$2M range where 8 properties traded over the last week.  The $5M-$7.5M range rose one percent as two properties sold over the last week.

 

 

Year to Date Available
currentavailable1005  

 

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.  We are currently 38 weeks through the year. In the $0-$500K range we have 7.33 months on average to sell through. $500K-$1M  we have 6.09 months.  Another drop of a week, continuing to be our most competitive price range.  In the $1M-$1.5M we have 10.8 months. $1.5M-$2M we have 8.43 months.  This showing a huge drop of one month from 9.5 months last week. $2M-$3M we have 11.21 months.  $3M-$4M we have 17.1 weeks. $4M-$5M we have 24.75 months. $5M-$7.5M we have 23.5 months. $7.5-$10M we have 34 months providing a gain of one month.  $10M and above we have 36.66 months.  

 

Open Houses October 7th
  
 

Below are all of the Greenwich Open Houses for Sunday.  If you click on the link it will take you to the listing.  Enjoy your weekend.

 

 

 

 

Address Town List Price Time Broker
5 Station Drive Greenwich $6,300/mo 1-4 PM Prudential
48 Arcadia Road Old Greenwich $11,500/mo 1-3 PM Coldwell Bnkr
1465 E Putnam Ave #329 Old Greenwich $449K 2-4 PM Coldwell Bnkr
184 Peck Ave #2 Greenwich $455K 2-4 PM Coldwell Bnkr
21 Cary Road Riverside $499K 1-3 PM Coldwell Bnkr
207 Sheephill Road Riverside $525K 2-4 PM Shore & Cntry
51 Forest Ave #156 Old Greenwich $680K 1-4 PM FF Realty
67 Long Meadow Road Riverside $1.1M 1-3 PM Coldwell Bnkr
21 Mallard Drive Greenwich $1.199M 1-4 PM Coldwell Bnkr
274 North St Greenwich $1.28M 1-4 PM Prudential
6 Indian Pass Greenwich $1.499M 1-3 PM Shore & Cntry
30 Stonebrook Lane Cos Cob $1.68M 1-4 PM Raveis
1 Idar Court Greenwich $1.995M 1-3 PM Reloc Grp
48 Arcadia Road Old Greenwich $2.479M 1-3 PM Coldwell Bnkr
11 Grimes Rd Old Greenwich $2.575M 2-4 PM Coldwell Bnkr
1333 King Street Greenwich $3.895M 1-4 PM Coldwell Bnkr
313 Stanwich Road Greenwich $3.95M 2:30-4:30  Coldwell Bnkr
450 North St Greenwich $4.5M 2-4 PM Summit
504 North Street Greenwich $6.85M 2-4 PM Coldwell Bnkr
122 Old Church Road Greenwich $8.5M 12-2 PM Coldwell Bnkr
500 Lake Ave Greenwich $8.9M 2-4 PM Sotheby's
  

 

Mortgage Information

 

The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage.

 

Jeff can be reached at 646-372-5181.

 

Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202.

 

  

CT Mortgage Rates

Product

Interest Rates

Annual Percentage Rate

15 YR Fixed Conforming

2.625%

2.863%

30 YR Fixed Conforming

3.375%

3.514%

30 Year Fixed Agency  Jumbo

n/a

n/a

30 YR  Fixed Jumbo

3.990%

4.116%

5/1 YR ARM Conforming

2.250%

3.081%

5/1 YR ARM Jumbo

2.250%

3.060%

10/1 YR ARM Jumbo

3.375%

3.453%

 *as of July 15th
Sunday
Sep302012

Greenwich Real Estate Guy: Greenwich CT-Residential Analysis and Blog: 09/28/12

Greenwich, CT Residential Real Estate Analysis: September 28th
A weekly analysis brought to you by Jared Randall.
64 Hillcrest

The above Victorian is situated in the Hillcrest Park Section of Old Greenwich.  64 Hillcrest Park is for sale for $3.495M.  The pictures do not do this property justice.  The house was built in 1901 and renovated in 1992.  The flow of the house is very open with a meandering feel.  It is stated to be 8,300 s.f. sitting on 1.11 acres of land.  There are 7 bedrooms and 4.5 baths.  The character of the house is what impressed me the most.  It has the architectural detail of the original home, but the renovations make it feel open and lively for entertaining.  

 

I mentioned in last week's article that the tremendous influx of inventory we are seeing in September tells us the market has not turned around yet.  Until, we see an uptick in the amount of properties being sold that is comparable to the amount of new properties being listed, the market will continue to sputter.  However, now that we have so much fresh inventory, it could bring buyers out.  I feel it will be interesting to see where we go from here.  My personal opinion is that we will start to see the pick up in February or March of 2013.  There could be a flurry at the end of the year due to the Healthcare tax that will go into effect January 2013.  We currently have 49 properties that are in Executed Contract, which is a good sign as there were 40 properties sold in October of 2010.

 

Please let me know if you would like me to provide specific information or statistics for you.

 

**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

sold0928 

We are staying on trend in regards to sold properties as you can see above.  As stated above sold properties are typically 30-60 days old, as that is how long clients are in contract.  The interesting point will be to see the sold over the next two months.  

 

New Listings
newlistings0928
We have more than doubled the amount of new listings there were in September of 2010 and already doubled the amount in 2011.  This graph shows the disparity between this year and previous years.

 

  
Year to Date Soldytdsold0928

 

As we are getting closer to the end of the year, we would need to see drastic changes in the numbers of one price range to change this chart by any significant amount.  That did not happen so all percentages remained the same.

 

 

Year to Date Available
currentavailable0928  

 

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.  We are currently 37 weeks through the year. In the $0-$500K range we have 7.38 months on average to sell through. $500K-$1M  we have 6.39 months.  In the $1M-$1.5M we have 10.9 months. $1.5M-$2M we have 9.5 months. $2M-$3M we have 11.9 months.  $3M-$4M we have 17.52 weeks. $4M-$5M we have 26.11 months. $5M-$7.5M we have 24.12 months. $7.5-$10M we have 33 months.  $10M and above we have 36.48 months.  

 

 

 

 

 

 

Open Houses September 23th
  
 

Below are all of the Greenwich Open Houses for Sunday.  If you click on the link it will take you to the listing.  Enjoy your weekend.

 

 

 

Address Town List Price Time Broker
21 Cat Rock Rd CC 8K/mo 2-4 PM Coldwell
29 Lockwood Av OG 15.5K/mo 1-4 PM Raveis
175 Putnam Park #175 GR $330K 2-4 PM Raveis
87 Putnam Park #87 GR $389K 2-4 PM Raveis
20 Nicholas Ave GR $560K 1-4 PM Real Living
47 Lafeyette Pl # 4-I GR $599K 1-4 PM PruCt
19 Wescott St RV $779K 2-4 PM Coldwell
5 North Ridge OG $898K 1-3 PM PruCt
20 West End Av (Rear) OG $899K 2-5 PM Raveis
17 Ronald Ln CC $959K 1-3 PM Raveis
349 Riversville Rd GR $995K 1-4 PM Raveis
179 Connecticut Av GR $1.05M 1-3 PM Raveis
25 Griffith Rd RV $1.099M 2-4 PM Raveis
128 Riverside Ave RV $1.15M 1-4 PM PruCt
73 Weaver St #18 GR $1.195M 1-3 PM Raveis
13 Center Dr OG $1.245M 1-4 PM Sotheby's
116 Lockwood Rd RV $1.275M 2-4 PM Raveis
86 Lower Cross Rd GR $1.349M 1-4 PM Weichert
16 Norton Ln OG $1.495M 1-4 PM Raveis
90 Buckfield Ln GR $1.55M 1-4 PM PruCt
99 Stanwich Rd GR $1.595M 1-3 PM Higgins Grp
21 Cat Rock Rd CC $1.649M 2-4 PM Coldwell
58 Orchard St Lot 1 CC $1.695M 1-3 PM Raveis
30 Stonebrook Ln CC $1.775M 1-4 PM Raveis
127 Havemeyer Pl GR $1.797M 1-3 PM Raveis
112 Taconic Rd GR $1.995M 1-4 PM PruCt
18 Ravenglass Dr OT $2.195M 1-4 PM Pruct
623 Steamboat Rd #A GR $2.95M 1-3 PM Ogilvy
230 Bedford Rd GR $3.35M 1-3 PM Ogilvy
29 Lockwood Av OG $3.495M 1-4 PM Raveis
623 Steamboat Rd #B GR $3.495M 1-3 PM Coldwell
71 S Baldwin Farms So GR $3.5M 1-4 PM Raveis
16 Indian Head Rd RV $4.195M 1-3 PM Coldwell
11 Club Rd RV $6.995M 1-4 PM PruCt
 

 

Mortgage Information

 

The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage.

 

Jeff can be reached at 646-372-5181.

 

Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202.

 

  

CT Mortgage Rates

Product

Interest Rates

Annual Percentage Rate

15 YR Fixed Conforming

2.625%

2.863%

30 YR Fixed Conforming

3.375%

3.514%

30 Year Fixed Agency  Jumbo

n/a

n/a

30 YR  Fixed Jumbo

3.990%

4.116%

5/1 YR ARM Conforming

2.250%

3.081%

5/1 YR ARM Jumbo

2.250%

3.060%

10/1 YR ARM Jumbo

3.375%

3.453%

 *as of July 15th
Saturday
Sep222012

Greenwich Real Estate Guy: Greenwich CT-Residential Analysis and Blog: 09/21/12

Greenwich, CT Residential Real Estate Analysis: September 21tst
A weekly analysis brought to you by Jared Randall.
15 East Point

When I am in the many houses I tour, every now and then, I think to myself, this could be my family's next house.  When I toured the house above I thought to myself this time:  This could be the next house, of the next house, of the next house, of my next house if ever my next house.  This immaculate shore colonial is located at 15 East Point Lane in Old Greenwich.  It is for sale for $7.85M.  This five bedroom four bath home is directly on the water as you can see.  It has a beautiful flow and has breathtaking views of the Sound.  My favorite aspect of this house, you can see if you look really close, is the three windows on the roof.  When you walk up, you can actually open those windows and stand with your head out of the house overlooking the sound.  You feel the crisp air against your face. It is a spectacular house with views from just about every room of the house.  It is listed as .32 acres containing 4,356 s.f.

 

It has been said that the residential real estate market is turning around.  There definitely are examples of this, such as 106 Parsonage Road, which sold for asking at $2.875M and was only on the market for 37 days.  However, understanding where the market is and more importantly where it is heading, one must take an over arching view.  Ultimately looking at the Sold information is already lagging as it typically takes thirty to sixty days to close.  While, looking at new properties that are coming on vs. sold gives us a better idea of Supply vs Demand in my opinion.  With that being said, even though we are hearing the market is turning around, I believe the numbers tell us a different story.  So far this month, we have had an incredible amount of new properties hit the market.  The first three weeks of September has given us ninety nine new listings.  When we scroll back and look at 2010 for the whole month of September there were only 53 new listings.  We have sold 50 properties so far in September which is a little stronger than years past (there were 53 in all of September of 2011, and 46 in 2010).  Hence, when just looking at the properties sold one could assume the market is heating up.  Yet, my belief is when one looks at the sold numbers vs the tremendous amount of new listings one realizes the supply is growing much larger than the growth of the demand.  This is most prevalent when you scroll down and see the current months on average it would take to sell through the properties.

 

Almost completely across the board the months on average have increased due to the influx of inventory.  Only the $2-$3M range, $5M-$7.5M and $10M range remained unchanged or went down.  This is the fluctuation of time in each price range since the end of August.

 

0-$500K range up 1 week

$500K-$1M up 2 weeks

$1M-$1.5M- up 6 weeks

$1.5M-$2M up 2 weeks

$2M-$3M unchanged

$3M-$4M up 9 weeks

$4M-$5M up 3 weeks

$5M-$7.5M down 12 weeks

$7.5M-$10M up 12 weeks

$10M+ unchanged

 

Please let me know if you would like me to provide specific information or statistics for you.

 

**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

sold0921 

As stated above the closings are continually close to last year's number but over the last few months we have been exceeding the 2011 numbers.  So far this month we have had 50 closings.  In 2011 the month of September had 53 closings, and in 2010 there were 46 closings.

 

New Listings
newlistings0921
Just in the first three weeks we have doubled the amount of new listings there were in September of 2010 and just about already doubled the amount in 2011.  This graph shows the disparity between this year and previous years.

 

  
Year to Date Soldytdsold0907

 

As we are getting closer to the end of the year, we would need to see drastic changes in the numbers of one price range to change this chart by any significant amount.  That did not happen so all percentages remained the same.

 

 

Year to Date Available
currentavailable0907  

 

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.  We are currently 36 weeks through the year. In the $0-$500K range we have 7.22 months on average to sell through. $500K-$1M  we have 6.98 months.  In the $1M-$1.5M we have 11.52 months. $1.5M-$2M we have 9.587 months. $2M-$3M we have 11.99 months.  $3M-$4M we have 18.72 weeks. $4M-$5M we have 30.78 months. $5M-$7.5M we have 24.78 months. $7.5-$10M we have 36.16 months.  $10M and above we have 37.46 months.  

 

Almost completely across the board the months on average have increased due to the influx of inventory.  Only the $2-$3M range, $5M-$7.5M and $10M range remained unchanged or went down.  This is the fluctuation of time in each price range since the end of August.

 

0-$500K range up 1 week

$500K-$1M up 2 weeks

$1M-$1.5M- up 6 weeks

$1.5M-$2M up 2 weeks

$2M-$3M unchanged

$3M-$4M up 9 weeks

$4M-$5M up 3 weeks

$5M-$7.5M down 12 weeks

$7.5M-$10M up 12 weeks

$10M+ unchanged

 


 

 

Open Houses September 23th
  
 

Below are all of the Greenwich Open Houses for Sunday.  If you click on the link it will take you to the listing.  Enjoy your weekend.

 

 

 

Address Town List Price Time Broker
41 Windsor Ln Cos Cob $4.7K/mo 2-4 PM Raveis
8 Fox Hollow Ln Cos Cob $7.9K/mo 1-3 PM Coldwell Bnkr
21 Cat Rock Rd Cos Cob $8K/mo 2-4 PM Coldwell Bnkr
39 Willow Rd Riverside $9.975K/mo 1-3 PM Coldwell Bnkr
55 Will Merry Ln Greenwich $14K/mo 2-4 PM Coldwell Bnkr
351 Pemberwick Rd #110 Greenwich $335K 1-3 PM Raveis
21 Byram Rd Greenwich $399K 1-3 PM Mary & Caruso
292 Hamilton Av Greenwich $409K 2-4 PM Coldwell Bnkr
13 Fletcher Av Greenwich $449K 1-3 PM Coldwell Bnkr
184 Peck Ave #2 Greenwich $455K 2-4 PM Coldwell Bnkr
9 River Rd #405 Cos Cob $469K 2-4 PM Raveis
1 Ocean View Greenwich $519K 1-3 PM Shore & Cntry
60 Valley Rd #A Cos Cob $645K 2-4 PM Raveis
45 Glenville St Greenwich $649K 2-4 PM Prudential
51 Forest Ave #156 Old Greenwich $680K 1-4 PM FF Realty
98 Putnam Park #98 Greenwich $695K 1-4 PM Raveis
60 Valley Rd #B Cos Cob $699.5K 2-4 PM Raveis
11 River Rd #122 Cos Cob $725K 2-4 PM Greenwich Fine Prop
133 Lake Av  Greenwich $749K 1-4 PM Prudential
5 Christiano St Greenwich $749K 1-3 PM Sothebys
89 Prospect St Greenwich $799K 1-3 PM Sothebys
297 Guinea Rd Greenwich $849K 1-4 PM Sothebys
349 Riversville Rd Greenwich $995K 1-4 PM Raveis
73 Weaver St #16 Greenwich $999.5K 2-4 PM Halstead
38 Breezemont Av Riverside $1.125M 1-4 PM Sothebys
37 Davenport Ave #4 Greenwich $1.199M 2-4 PM Greenwich Fine Prop
108 Hillcrest Park Old Greenwich $1.239M 2-4 PM Shore & Cntry
21 Mallard Dr Greenwich $1.25M 12-3 PM Coldwell Bnkr
116 Lockwood Rd Riverside $1.275M 2-4 PM Raveis
23 Dorchester Rd Riverside $1.295M 2-4 PM Greenwich Fine Prop
60 Valley Rd A & B Cos Cob $1.295M 2-4 PM Raveis
16 Norton Ln Old Greenwich $1.495M 1-4 PM Raveis
8 Fox Hollow Ln Cos Cob $1.499M 2-4 PM Coldwell Bnkr
21 Cat Rock Rd Cos Cob $1.649M 2-4 PM Coldwell Bnkr
30 Stonebrook Ln Cos Cob $1.775M 1-4 PM Raveis
127 Havemeyer Pl Greenwich $1.797M 1-4 PM Raveis
10 Stepping Stone Ln Greenwich $1.825M 1-4 PM Prudential
2 Stanwich Ln Greenwich $1.995M 1-4 PM Round Hill Prtners
120 Milbank Ave Greenwich $2.275M 2-4 PM Greenwich Fine Prop
20 Cherry Valley Rd Greenwich $2.35M 1-5 PM Raveis
23 Brown House Road Old Greenwich $2.395M 1-4 PM Blue Chip Prop
19 Crescent Rd Riverside $2.695M 2-4 PM Raveis
5 Dawn Harbor Ln Riverside $2.785M 2-4 PM Coldwell Bnkr
39 Willow Rd Riverside $2.8M 1-3 PM Coldwell Bnkr
20 Stoney Ridge Ln Riverside $2.849M 2-4 PM Shore & Cntry
35 Shore Rd Old Greenwich $2.85M 2-4 PM Greenwich Fine Prop
39 Shore Rd Old Greenwich $2.85M 2-4 PM Greenwich Fine Prop
8 Indian Point Ln Riverside $3.195M 2-4 PM Prudential
530 North St Greenwich $3.195M 1-4 PM Raveis
55 Will Merry Ln Greenwich $3.25M 2-4 PM Coldwell Bnkr
27 Chieftans Rd Greenwich $3.595M 2-4 PM Greenwich Fine Prop
35 Locust Rd Greenwich $3.65M 2-4 PM Greenwich Fine Prop
125 Cat Rock Rd Cos Cob $4.175M 1-4 PM Higgins Grp
1 Little Cove Ln Old Greenwich $4.195M 1-4 PM Raveis
38 Keofferam Rd Old Greenwich $4.495M 1-4 PM Raveis
487 North St, Lots 2&3 Greenwich $5M 2-4 PM Coldwell Bnkr
29 Cliffdale Rd Greenwich $5.495M 2-4 PM Greenwich Fine Prop
487 North St Lot #5&6 Greenwich $6M 2-4 PM Coldwell Bnkr
487 North St Lot 1 Greenwich $6.995M 2-4 PM Coldwell Bnkr
487 North St Greenwich $16M 2-4 PM Coldwell Bnkr
 

 

 

Mortgage Information

 

The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage.

 

Jeff can be reached at 646-372-5181.

 

Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202.

 

  

CT Mortgage Rates

Product

Interest Rates

Annual Percentage Rate

15 YR Fixed Conforming

2.625%

2.863%

30 YR Fixed Conforming

3.375%

3.514%

30 Year Fixed Agency  Jumbo

n/a

n/a

30 YR  Fixed Jumbo

3.990%

4.116%

5/1 YR ARM Conforming

2.250%

3.081%

5/1 YR ARM Jumbo

2.250%

3.060%

10/1 YR ARM Jumbo

3.375%

3.453%

 *as of July 15th