The Goldspiel Group Property Report | 2018
IRA GOLDSPIEL #1 William Pitt Sotheby’s International Realty Agent - Litchfield County 2017* c: 917.626.3481 | o: 860.927.7724 | igoldspiel@williampitt.com
•A Record $50 Million in 2017 Sales* •Highest Residential Sale in Litchfield County* •#1 William Pitt Sotheby’s International Realty Agent - Litchfield County 2017*
The Goldspiel Group and William Pitt Sotheby’s International Realty are proud to note outstanding results for 2017 and bring you the market report. We continue to outpace the growth in the market with sales increases of 66% and 30% in sold dollar volume.* In 2017, Single Family Home Unit Sales in Litchfield County were essentially flat and total dollar volume was up 5%. William Pitt Sotheby’s International Realty saw a dollar volume increase of 30% in closed sales.* The Goldspiel Group realized an increase of 66% in closed sales.* Goldspiel recorded sales in excess of $50 million, making him the highest producing agent in all the William Pitt Sotheby’s International Realty Brokerages in Connecticut.* The year was highlighted by the highest sale in Litchfield County by Goldspiel at $5.8 million.* We are thrilled to announce that Steve Pener has been named a partner in the group. He brings over 12 years experience and is well regarded for his commitment to exceptional service for both buyers and sellers. Steve also takes the lead in making sure we use the latest in technology in mapping, electronic signature, and social media. Howard Schissler continues to develop his role as buyer specialist and focusing on providing the best service possible to clients. Our team is supported by an expanded group of administration, marketing and public relations, ensuring top notch exposure for our clients. If you have any questions about the market or want to discuss listing your home this year, please contact us as we are always available and look forward to providing the best real estate support in this area. Best,
The Team
Ira Ira Goldspiel c. 917.626.3481 igoldspiel@williampitt.com iragoldspiel.williampitt.com Facebook.com/iragoldspiel Instagram.com/igoldspiel
Howard Schissler
c. 917.304.0871 hschissler@williampitt.com
Steve Pener
c. 203.470.0393 spener@williampitt.com
*William Pitt Sotheby’s International Realty sold dollar volume in Litchfield County increased 30% from 2016-2017. Ira Goldspiel sold dollar volume increased 66% from 2016-2017. Highest residential sale in Litchfield County in 2017 by Ira Goldspiel per SmartMLS.
EXCLUSIVE OFFERINGS | 2018
KENT, CT 6 BR, 6 BATHS, 3 HALF BATHS $5,150,000 Front/Back Cover Property. 100+ Acs, North Spectacle Lake Frontage, Lake Views, Soaring Ceilings, Open Floor Plan, Expansive Deck, Home Theater, 3-Car Gar., Dock.
LITCHFIELD, CT 4 BR, 4 BATHS, 1 HALF BATH $1,050,000 Stylish Redo, 10.83 Acs, Pond, State-of-the-Art Systems, Fabulous Kitchen/Family Room, Exposed Antique Beams, Saltwater Pool with Spa, Pool House.
ROXBURY, CT 4 BR, 5 BATHS, 1 HALF BATH $2,185,000 5 Fireplaces, Fabulous Kitchen/Great Room, Heated Pool, 5 Acres, Covered Terrace, First Floor Master, Finished Lower Level, Wine Cellar, 3-Bay Garage.
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EXCLUSIVE OFFERINGS | 2018
Roxbury, CT | $3,200,000
Kent, CT | $1,085,000
Kent, CT | $1,385,000
Kent, CT | $2,750,000
Bridgewater, CT | $850,000
Kent, CT | $985,000
Kent, CT | $1,135,000
Warren, CT | $1,350,000
Kent, CT | $485,000
Roxbury, CT | $479,900
Cornwall, CT | $337,500
Kent, CT | $569,500
5 BR, 7.3 BA | 9,089 SF | 21 ACS Distant Views, Guest Suite, Au Pair Quarters.
4 BR, 4.1 BA | 4,718 SF | 7.64 ACS South Spectacle Lake Amenities, Views, Pool.
6 BR, 6.1 BA | 5,361 SF | 2 ACS C. 1741, Guest House, Pool, Pool House.
3 BR, 2 BA | 1,920 SF | 4+ ACS Chic & Modern, One Level, Master Suite.
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4 BR, 4 BA | 3,600 SF | 14.72 ACS Circa 1900, Exposed Hand Hewn Posts, Pool.
4 BR, 2.1 BA | 2,900 SF | 16.55 ACS Carriage House w/3 Bays & Guest Quarters.
91 ACS | OPEN FIELDS | WOODED FOREST Breathtaking Sunset Views, Quiet Road.
2 BR, 1 BA | 960 SF | 1.18 ACS C. 1856, High Ceilings, Laundry Room.
4 BR, 3.1 BA | 5,150 SF | 24 ACS Unspoiled Views, Open Floor Plan, Pool.
3 BR, 2.1 BA | 2,800 SF | 29.64 ACS View, Renovated Kitchen, 3-Season Porch
3 BR, 2.1 BA | 2,609 SF | 2+ ACS Mid-Century Home, Mtn Views, Terrace.
4 BR, 3 BA | 2,272 SF | 9+ ACS Updated Kitchen, Gunite Pool, Fieldstone FP.
The Market Report – Litchfield County 2018* Litchfield County experienced another strong year in sales.
Compared to the calendar year of 2016, a strong year in sales, units in 2017 stood ahead by 1% while dollar volume climbed ahead by 5%. Sales are steady at the lower end of the market up to the $500,000 mark, and have been all year. More significantly, the over $1 million segment, and even over $3 million, continue to operate at full strength, a trend that kicked off in 2016 and has not let up since. The $3+ million market saw 10 transactions for the year compared to 5 in all of 2016.
Inventory shortages are leading to increased competition among buyers.
Inventory has been declining in Litchfield County, and that remained the case at the end of the year. Product levels currently stand approximately 9% lower than this time last year, but an even more remarkable 20% lower than this time two years ago. Key to this is that properties are priced correctly from the outset and present in good condition, an ongoing requirement among purchasers.
The region’s status as a prime weekend destination is only growing.
Among New Yorkers searching for second homes, the region has more and more become the destination of choice over other resort areas such as the Hamptons. William Pitt Sotheby’s International Realty continues to promote the Litchfield County lifestyle with its “Escape to the Hills” on social media and in prime NYC advertising to attract more buyers.
It is too soon to determine how the new tax legislation will affect our local real estate market.
The property tax aspect is just one piece of a far more intricate tax law. On one side we have the cap on property tax deductions and the complexity of the bill, and on the other, the high rate of consumer confidence, consumer demand and a booming economy, all coming together to create a confluence of variables that leave the future unknown.
Bethlehem Bridgewater Canaan Cornwall Goshen Kent Litchfield Morris New Milford Norfolk Roxbury Salisbury Sharon Sherman Warren Washington Woodbury
Single Family Units
Average Sale Price
Total Dollar Volume
% Change from 2016
30 24 47 24 50 33 99 21 322 25 34 70 47 64 16 57 105
260,535 703,379 198,961 465,715 392,260 656,105 456,632 508,400 306,072 410,166 752,313 717,114 464,431 624,945 607,447 996,060 375,200
7,816,050 16,881,096 9,351,167 11,177,160 19,613,000 21,651,465 45,206,568 10,676,400 98,555,184 10,254,150 25,578,642 50,197,980 21,828,257 39,996,480 9,719,152 56,775,420 39,396,000
-17% -14% 33% 25% -27% -5% 37% 7% -7% 39% -2% 27% -14% 61% -48% 10% -6%
1068
463,178
494,674,171
3%
Litchfield Hills Brokerages 27 North Main Street, Kent, CT 06757 o: 860.927.7724 | c: 917.626.3481 e: igoldspiel@williampitt.com iragoldspiel.williampitt.com
Local Postal Customer
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The Goldspiel Group | Beaver Dam | $5,840,000 Whitcomb Hill | $4,200,000 145 Mill Road | $2,400,000 24 Taconic Road | $1,700,000 88 Howland Road | $1,600,000 47 Hammertown Road | $1,550,000 70 Beach Hill Road | $1,500,000 80 Rocky Mountain Road | $1,498,500 40 Herb Road | $1,450,000 338 Under Mountain Road | $1,275,000 35 South Street | $1,275,000 4 Crooked Furrows Lane | $1,250,000 18 Kenmont Road | $1,250,000 29 Ledgewood Drive | $1,192,500 12 Old Sharon Road | $1,166,250 192 Wells Hill Road | $1,085,000 41 Jennings Road | $1,037,500
Select Sales from 2017 to Present 102 North Street | $1,015,000 47 Carter Road | $975,000 33 Tichnor Road | $875,000 198 River Road | $800,000 15 Oak Ridge Rd | $679,000 24 Hidden Meadow Lane | $640,000 275 Dibble Hill Road | $635,000 21 South Ellsworth Road | $590,000 10 Cobble Road | $567,500 77 Pierce Lane | $435,000 11 North Main Street | $435,000 2 Northrup Road | $425,000 265 Huntsville Road | $350,000 184 Macedonia Road | $322,500 23 South Main Street | $260,000 40 Bridge Street | $210,000 433 Kent Cornwall Road | $190,000
© MMXVIII WP Holdings, LLC and Sotheby’s International Realty Affiliates LLC. A Realogy Company. All Rights Reserved. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. *All statistics per SmartMLS, closed residential sales, for 2017 in Litchfield County.