MARKET UPDATE | YEAR END 2013 GREENWICH, CT THE GREENWICH RESIDENTIAL REAL ESTATE MARKET continued its steady improvement throughout 2013. The market experienced strong sales growth in the number of single family homes sold, increasing 11 percent to 644 from 580 in 2012.* This significant increase reflects a further return to a healthy local market. The average sale price for single-family houses dropped 6.1 percent to $2,247,040. Most price categories saw average sales growth keeping pace with the previous year’s sales, except for the booming $1 million to $3 million range which increased a remarkable 35.6 percent. There were 8 sales over $10 million, down from 14 in 2012, and one $25 million sale in 2013. Total sales in 2013, at $1.6 billion, exceeded the total sales of 2012 by $103 million, or 6.9 percent. Continuing the trend of recent years, Old Greenwich, Riverside remain highly desirable neighborhoods. Total single-family sales in Riverside increased 18.9 percent to 145
ABOUT OUR AREA Greenwich, the gateway to New England, is a terrific place to live and enjoy. Residents of our premier community revel in its parks, beaches and sailing on Long Island Sound; Backcountry horseback riding and hiking among other outdoor activities; terrific public and private schools and a sophisticated social scene. With its easy and convenient access to New York City, either by train or car, Greenwich continues to be one of the best towns in America.
GREENWICH BROKERAGE sothebyshomes.com/greenwich t: 203.869.4343 One Pickwich Plaza Greenwich, CT 06830
from 122 in 2012. Old Greenwich single-family sales between $1 million and $3 million increased 53.1 percent to 75 from 49 in 2012. We wish everyone a healthy and prosperous 2014 and welcome you to contact us with your real estate needs.
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 figures as reported by the Greenwich MLS (12/31/13). Operated by Sotheby’s International Realty, Inc. Sotheby’s International Realty® is a registered trademark. Equal Housing Opportunity.
SALES SALES
SINGLE FAMILY HOMES SINGLE FAMILY HOMES TOWN WIDE
YEAR END 2013 CLOSED SALES PRICE RANGE
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
136
175
157
-10.3%
$1,000,000 - $3,000,000
265
267
362
35.6%
$3,000,000 - $5,000,000
78
73
75
2.7%
$5,000,000 - $7,500,000
35
38
34
-10.5%
$7,500,000 - $10,000,000
5
13
8
-38.5%
$10,000,000 & above
7
14
8
-42.9%
526
580
644
11.0%
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
141
153
122
-20.3%
$1,000,000 - $3,000,000
192
164
145
-11.6$
TOTAL
AVERAGE DAYS ON MARKET AT SALE PRICE RANGE
$3,000,000 - $5,000,000
144
182
183
0.5%
$5,000,000 - $7,500,000
250
253
240
-5.1%
$7,500,000 - $10,000,000
147
242
248
2.5%
$10,000,000 & above
474
175
540
208.6%
AVERAGE
179
171
155
-9.4%
2011
2012
2013
% CHANGE (2013 VS 2012)
ACTIVE INVENTORY PRICE RANGE Up to $1,000,000
77
39
36
-7.7%
$1,000,000 - $3,000,000
171
148
119
-19.6%
$3,000,000 - $5,000,000
82
84
84
0.0%
$5,000,000 - $7,500,000
60
55
56
1.8%
$7,500,000 - $10,000,000
32
28
26
-7.1%
$10,000,000 & above
50
42
41
-2.4%
TOTAL
472
396
362
-8.6%
AVERAGE AND MEDIAN SALE PRICE YEAR
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$3,500,000
2004
$2,338,219
$1,625,000
2005
$2,576,327
$1,882,500
$3,000,000
2006
$2,687,400
$2,001,250
2007
$3,012,134
$2,175,000
2008
$2,822,185
$2,000,000
2009
$2,668,805
$1,690,000
2010
$2,518,863
$1,741,500
2011
$2,429,922
$1,661,250
2012
$2,383,910
$1,693,750
Year End 2013
$2,247,040
$1,687,500
$2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Median Sales Price
Average Sales Price
GREENWICH BROKERAGE: One Pickwick Plaza, Greenwich, CT 06830 | 203.869.4343 | sothebyshomes.com/greenwich
SALES SALES
CONDOMINIMUMS ANDCOOPERATIVES COOPERATIVES CONDOMINIUMS AND
TOWN WIDE
YEAR END 2013 CLOSED SALES 2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
PRICE RANGE
104
116
152
31.0%
$1,000,000 - $2,000,000
17
19
34
78.9%
$2,000,000 - $4,000,000
7
9
9
0.0%
$4,000,000 & above
1
1
0
-100.0%
129
145
195
34.5%
TOTAL
AVERAGE DAYS ON MARKET AT SALE 2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
PRICE RANGE
191
205
145
-29.3%
$1,000,000 - $2,000,000
294
273
284
4.0%
$2,000,000 - $4,000,000
203
278
396
42.4%
$4,000,000 & above
389
-
-
-
TOTAL
210
217
180
-17.1%
2011
2012
2013
% CHANGE (2013 VS 2012)
AVERAGE SALE PRICE List Price Up to $1,000,000
$525,388
$538,576
$562,896
4.5%
$1,000,000 - $2,000,000
$1,325,221
$1,322,421
$1,344,431
1.7%
$2,000,000 - $4,000,000
$2,752,143
$2,689,376
$2,635,833
-2.0%
$4,000,000 & above
$4,100,000
$4,850,000
-
-
$779,334
$804,519
$794,838
-1.2%
TOTAL
ACTIVE INVENTORY SINGLE FAMILY HOMES
140
CONDO
80 70
120
60
100
50
80
40
60
30
40
20
20
10
0
0
up to $1
$1 to $3
$3 to $5
$5 to $7.5
$7.5 to $10
$10+
up to $1
$1 to $2
$2 to $4
$4+
SALES SALES
SINGLE FAMILY HOMES GREENWICH
YEAR END 2013 CLOSED SALES PRICE RANGE
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
52
74
71
-4.1%
$1,000,000 - $3,000,000
132
121
159
31.4%
$3,000,000 - $5,000,000
57
48
52
8.3%
$5,000,000 - $7,500,000
28
27
30
11.1%
$7,500,000 - $10,000,000
4
11
6
-45.5%
$10,000,000 & above
7
10
7
-30.0%
280
291
325
11.7%
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
166
159
111
-30.2%
$1,000,000 - $3,000,000
239
200
188
-6.0%
$3,000,000 - $5,000,000
171
202
197
-2.5%
$5,000,000 - $7,500,000
260
268
242
-9.7%
$7,500,000 - $10,000,000
150
261
255
-2.3%
$10,000,000 & above
474
226
559
147.3%
AVERAGE
218
199
187
-6.0%
TOTAL
AVERAGE DAYS ON MARKET AT SALE PRICE RANGE
AVERAGE AND MEDIAN SALE PRICE YEAR
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$4,000,000
2004
$2,917,448
$2,112,500
$3,500,000
2005
$3,203,083
$2,475,000
$3,000,000
2006
$3,419,625
$2,777,500
$2,500,000
2007
$3,661,577
$2,722,500
$2,000,000
2008
$3,429,881
$2,375,000
$1,500,000
2009
$3,586,219
$2,500,000
$1,000,000
2010
$3,348,965
$2,450,000
2011
$3,058,461
2,150,000
2012
$2,833,234
$1,925,000
Year End 2013
$2,745,438
$1,950,000
$500,000 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Median Sales Price
Average Sales Price
GREENWICH BROKERAGE: One Pickwick Plaza, Greenwich, CT 06830 | 203.869.4343 | sothebyshomes.com/greenwich
SALES SALES
SINGLE FAMILY HOMES CONDOMINIUMS AND COOPERATIVES YEAR END 2013 CLOSED SALES PRICE RANGE
RIVERSIDE
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
38
35
37
5.7%
$1,000,000 - $3,000,000
52
65
88
35.4%
$3,000,000 - $5,000,000
10
12
14
16.7%
$5,000,000 - $7,500,000
5
7
4
-42.9%
$7,500,000 - $10,000,000
1
1
1
0.0%
$10,000,000 & above
-
2
1
-50.0%
106
122
145
18.9%
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
157
118
157
33.1%
$1,000,000 - $3,000,000
166
117
112
0.0%
$3,000,000 - $5,000,000
55
146
151
-2.5%
$5,000,000 - $7,500,000
244
192
2225
15.8%
$7,500,000 - $10,000,000
139
0
16
4700.0%
-
27
402
352.5%
164
122
132
8.2%
TOTAL
AVERAGE DAYS ON MARKET AT SALE PRICE RANGE
$10,000,000 & above AVERAGE
AVERAGE AND MEDIAN SALE PRICE YEAR
AVERAGE SALE PRICE
MEDIAN SALE PRICE
2004
$2,090,588
$1,585,000
2005
$1,916,512
$1,685,000
2006
$1,898,065
$1,635,000
2007
$2,276,455
$1,910,000
$1,500,000
2008
$2,750,007
$2,123,500
$1,000,000
2009
$2,049,818
$1,492,500
2010
$1,825,870
$1,530,000
2011
$1,856,570
$1,450,500
2012
$2,135,382
$1,556,250
Year End 2013
$1,962,381
$1,680,000
$3,000,000 $2,500,000 $2,000,000
$500,000 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Median Sales Price
Average Sales Price
SALES SALES
SINGLE SINGLE FAMILY FAMILYHOMES HOMES OLD GREENWICH
YEAR END 2013 CLOSED SALES PRICE RANGE
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
20
25
22
-12.0%
$1,000,000 - $3,000,000
54
49
75
53.1%
$3,000,000 - $5,000,000
11
8
8
0.0%
$5,000,000 - $7,500,000
2
4
-
-
$7,500,000 - $10,000,000
-
1
1
0.0%
$10,000,000 & above
-
2
-
-
87
89
106
19.1%
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
99
193
86
-55.4%
$1,000,000 - $3,000,000
110
152
101
-33.6%
$3,000,000 - $5,000,000
82
111
133
19.8%
$5,000,000 - $7,500,000
135
264
-
-
$7,500,000 - $10,000,000
-
282
435
54.3%
$10,000,000 & above
-
72
-
-
105
165
103
-37.6%
TOTAL
AVERAGE DAYS ON MARKET AT SALE PRICE RANGE
AVERAGE
AVERAGE AND MEDIAN SALE PRICE YEAR
AVERAGE SALE PRICE
MEDIAN SALE PRICE
2004
$1,650,610
$1,410,000
2005
$1,918,369
$1,737,500
2006
$1,951,825
$1,740,000
2007
$2,446,219
$2,100,000
$1,500,000
2008
$2,041,163
$1,725,000
$1,000,000
2009
$1,785,979
$1,365,000
2010
$1,736,841
$1,455,000
2011
$1,905,612
$1,630,000
2012
$2,271,284
$1,830,000
Year End 2013
$1,753,566
$1,593,750
$3,000,000 $2,500,000 $2,000,000
$500,000 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Median Sales Price
Average Sales Price
GREENWICH BROKERAGE: One Pickwick Plaza, Greenwich, CT 06830 | 203.869.4343 | sothebyshomes.com/greenwich
SALES SALES
SINGLE FAMILY HOMES CONDOMINIUMS AND COOPERATIVES
COS COB
YEAR END 2013 CLOSED SALES PRICE RANGE
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
26
41
27
-34.1%
$1,000,000 - $3,000,000
27
32
40
25.0%
$3,000,000 - $5,000,000
-
5
1
-80.0%
$5,000,000 - $7,500,000
-
-
-
-
$7,500,000 - $10,000,000
-
-
-
足-
$10,000,000 & above
-
-
-
-
53
78
68
-12.8%
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
102
148
132
-10.8%
$1,000,000 - $3,000,000
179
145
127
-12.4%
$3,000,000 - $5,000,000
-
197
278
41.1%
$5,000,000 - $7,500,000
-
-
-
-
$7,500,000 - $10,000,000
-
-
-
-
$10,000,000 & above
-
-
-
-
141
150
131
-12.7%
TOTAL
AVERAGE DAYS ON MARKET AT SALE PRICE RANGE
AVERAGE
AVERAGE AND MEDIAN SALE PRICE YEAR
AVERAGE SALE PRICE
MEDIAN SALE PRICE
2004
$1,156,799
$1,025,000
2005
$1,381,640
$1,065,000
2006
$1,513,291
$1,175,000
2007
$1,573,462
$1,265,550
2008
$1,444,383
$1,247,500
2009
$1,249,104
$935,000
2010
$1,141,637
$1,013,750
2011
$1,116,709
$1,010,000
2012
$1,224,822
$980,000
Year End 2013
$1,241,224
$1,157,500
$1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Median Sales Price
Average Sales Price
ON THE MARKET FEATURED PROPERTIES
LISTINGS AROUND THE WORLD IN THIS PRICE RANGE
OLD GREENWICH
IN METROPOLITAN MARKETS
BUENA VISTA
HOUSTON
BROOKLYN
SAN FRANCISCO
9.72 Acres | $6,300,000
4 br / 4 ba / 2 hf ba $3,850,000
3 br / 2 ba / 1 hf ba $3,400,000
3 br / 2 ba / 1 hf ba $3,000,000
GREENWICH
IN RESORT MARKETS
SANTA FE
PALM BEACH
OJAI
3 br / 4 ba / 1 hf ba $3,000,000
4 br / 4 ba / 1 hf ba $2,950,000
3 br / 3 ba $3,600,000
SOUTH AFRICA
PUERTO RICO
AUSTRALIA
$2,593,121
7 ba / 1 hf ba $3,600,000
3 br / 3 ba Price Upon Request
CLASSIC COUNTRY ESTATE 9 br, 6 ba, 2 hf ba | $5,750,000
RIVERSIDE
NEWLY RENOVATED 5 br, 4 ba, 1 hf ba | $3,300,000
IN FOREIGN MARKETS
AT AUCTION
SONGYE “FOUR HORN” COMMUNITY POWER FIGURE The Collection of Allan Stone 15 November, 2013 Estimate: $600,000-$900,000
THE PINK STAR Rare English & European Magnificent Jewels 13 November, 2013 Sold: $84,730,214.30