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Q1 | 2018

Greenwich

Market Update


GREENWICH

The Grandeur of Yesteryear | Offered at $5,995,000 byramshorerd.com


a message from

Pamela Pagnani Brokerage Manager

Greenwich, the gateway to New England, is a terrific place to live and enjoy life. The town is comprised of several villages or hamlets, each with its own unique character, and many with roots dating back to the Pre-Revolutionary War era. Residents of our premier community revel in its parks, beaches, 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. No matter the state of the market, Sotheby’s International Realty Greenwich brokerage is uniquely well-positioned to service the needs of discriminating buyers, sellers and renters. While Sotheby’s International Realty has offices around the world in 69 countries and territories, here in Greenwich we serve the entire community including Cos Cob, Riverside, Old Greenwich and Greater Greenwich. Sotheby’s International Realty Greenwich has approximately 95 affiliated agents who are seasoned experts in local real estate laws, zoning, building and rental codes. Our mission is simple: to pair exceptional properties with exceptional clients while offering superior, white glove service. We would be pleased to assist you in buying your dream house or selling your home in Greenwich.

sothebyshomes.com/greenwich

GREENWICH BROKERAGE

One Pickwick Plaza | Greenwich, CT 06830 | 203.869.4343 All figures in this document are as reported by the Greenwich MLS (12/31/2017). Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal housing opportunity.


GREENWICH

17 Wooddale Road | Offered at $6,695,000 17wooddaleroad.com

Featured Properties We invite you to explore our exclusive offerings at S OT H EBYS H O M E S.C O M /GR EEN WI CH


GREENWICH (ON THE COVER)

Offered at $22,500,000 124oldmill.com GREENWICH

Offered at $14,450,000 134indianheadrd.com GREENWICH

Offered at $8,988,000 808northst.com GREENWICH

Offered at $6,495,000 167zaccheusmead.com *in order from left to right, top to bottom

sothebyshomes.com/greenwich


Market Snapshot Q1 2018

SFH Active Inventory

All Greenwich

Highlight: Total Units Sold SFH 400 350

Old Greenwich

300 250

Greenwich Cos Cob

Riverside 200

Riverside Greenwich

Old Greenwich Cos Cob

150 100 50

Total Single Family Home Units Sold 59 14 14 13

Greenwich Cos Cob Riverside Old Greenwich

Old Greenwich

Riverside

Cos Cob

Greenwich

0

Active Single Family Home Inventory by Price Point & Area 184 204 121 59

Under $2 Million $2 - 4 Million $4 - 7.5 Million $7.5+ Million


Q1 Highlights

Highlight: Median Sale Price SFH

All Greenwich

Highlight: Vol by Price Points SFH

$2.5

$2.0

<$2M

$7.5M and up

$1.5

$1.0

$4 - $7.5M

$2 - $4M

$0.5

Single Family Home Median Selling Price 2.3 $ 2.0 $ 2.0 $ 1.3 $

Greenwich Cos Cob Riverside Old Greenwich *Price in Millions

Old Greenwich

Riverside

Cos Cob

*Price in Millions

Greenwich

$0.0

<$2M

$2 - $4M

$4 - $7.5M

$7.5M and up

Single Family Home Total Volume by Price Point 20.8 % 30.0 % 31.7 % 17.5 %

Under $2 Million $2 - 4 Million $4 - 7.5 Million $7.5+ Million

Q1 Highlights

/ Greenwich Market Update


at a glance {Q1 | 2018}

greenwich

3

%

Change in Average Selling Price {2018 v 2017}

-22

%

Change in Units Sold {2018 v 2017}

76 Units Sold

2.9m

$

Average Selling Price


Greenwich SINGLE FAMILY HOMES AND CONDOS

sfh

Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory

{2018 v 2017}

Change

3%

11%

4%

-22%

-5%

2018

$2,964,471

$2,270,000

86%

59

366

2017

$2,883,863

$2,050,000

83%

76

385

2016

$2,752,120

$1,735,000

85%

54

402

2015

$2,966,500

$1,880,000

89%

52

327

2014

$2,966,500

Greenwich - SFH vs Condos Median327 $1,880,000 89% 52

Median Sale Price | Single Family Homes vs Condos $2,500,000

GRW Condo

$2,000,000

GRW SFH

$1,500,000 $1,000,000 $500,000 $0

2014

2015

Single Family Homes

condos

2016

2017

2018

Condos

Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory

{2018 v 2017}

Change

-13%

-11%

-8%

-24%

11%

2018

$838,535

$677,000

85%

22

102

2017

$963,893

$762,500

92%

29

92

2016

$999,638

$797,000

91%

34

102

2015

$985,714

$745,000

93%

28

89

2014

$817,875

$635,000

88%

20

76 Greenwich

/ Greenwich Market Update


Average Selling Price | Total Units Sold 20

$1.6

18

$1.4

16

$1.2

14

$1.0

12

$0.8

10 8

$0.6

6

$0.4

4

$0.2

2

$0.0

0

2014

2015

Average Selling Price Q1<$2M | 2018

$7.5 and up

2016 $2M-$4M

2017

2018

Total Units Sold

$4M-$7.5M Under $2 Million $2 - 4 Million

$4 - 7.5 Million

ASP

About

Cos Cob Situated just east of Central Greenwich, Cos Cob provides a peaceful village-like setting in a close-knit community. Cos Cob residential areas border the scenic Mianus River, and extensive marinas are located on the upper Mianus Harbor. sothebyshomes.com/greenwich

Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory {2018 v 2017}

Change

16%

3%

3%

-28%

15%

2018

$1,486,274

$1,275,000

91%

13

46

2017

$1,285,611

$1,240,000

88%

18

40

2016

$1,302,767

$1,175,000

91%

15

52

2015

$1,489,656

$1,307,500

91%

16

26

2014

$1,458,125

$1,225,000

93%

8

28

Greenwich Market Update / Cos Cob


at a glance {Q1 | 2018}

cos cob

16

%

Change in Average Selling Price {2018 v 2017}

-18

%

Change in Units Sold {2018 v 2017}

18 Units Sold

1.3m

$

Average Selling Price


at a glance {Q1 | 2018}

riverside

29

%

Change in Average Selling Price {2018 v 2017}

-22

%

Change in Units Sold {2018 v 2017}

18 Units Sold

2.3m

$

Average Selling Price


Average Selling Price | Total Units Sold $4.0

20 18

$3.5

16

$3.0

14

$2.5

12

$2.0

10 8

$1.5

6

$1.0

4

$0.5

2

$0.0

0

2014

Average Selling Price <$2M Q1 | 2018

2015

2016 $2M-$4M

Under $2 Million

$7.5 and up

2017

2018

Total$4M-$7.5M Units Sold

$2 - 4 Million

$4 - 7.5 Million

$7.5+ Million

ASP

About

Riverside Riversideâ&#x20AC;&#x2122;s extensive shoreline on the river, harbor, and Long Island Sound contributes to its appeal as a desirable waterfront community with a unique and popular variety of properties for sale at any given time. Closely linked to its neighboring village of Old Greenwich, Riverside also has a Metro North commuter station â&#x20AC;&#x201C; less than one hour to Grand Central Station in New York City. sothebyshomes.com/greenwich

Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory {2018 v 2017}

Change

29%

6%

-1%

-22%

13%

2018

$2,925,214

$1,997,500

90%

14

87

2017

$2,260,216

$1,880,000

92%

18

77

2016

$2,002,321

$1,600,000

92%

14

71

2015

$3,651,923

$2,080,000

84%

13

50

2014

$2,630,079

$2,300,000

90%

19

39 Riverside

/ Greenwich Market Update


Average Selling Price | Total Units Sold $3.0

16 14

$2.5

12 $2.0

10

$1.5

8 6

$1.0

4 $0.5

2

$0.0

0

2014

Average Selling Price <$2M Q1 | 2018

2016

2015

Under$2M-$4M $2 Million

$7.5 and up

2018

2017

Total Units Sold

$4M-$7.5M $2 - 4 Million $4 - 7.5 Million

$7.5+ Million

ASP

About

Old Greenwich The townâ&#x20AC;&#x2122;s origins are traced to the historic village of Old Greenwich, which today preserves the charm of a gracious New England community with classic Colonial Old Greenwich homes and beautiful waterfront properties. Old Greenwich offers an intimate shopping district and lies a short distance of scenic Greenwich Point with its fine town beach, park, and boating facilities. sothebyshomes.com/greenwich

Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory {2018 v 2017}

Change

4%

-5%

5%

0%

8%

2018

$2,464,321

$2,029,000

92%

14

69

2017

$2,377,643

$2,137,500

88%

14

64

2016

$2,137,633

$1,795,000

91%

15

51

2015

$1,526,124

$1,295,000

94%

9

58

2014

$1,890,769

$1,225,000

88%

13

58

Greenwich Market Update / Old Greenwich


at a glance {Q1 | 2018}

old greenwich

4

%

Change in Average Selling Price {2018 v 2017}

0

%

Change in Units Sold {2018 v 2017}

14 Units Sold

2.4m

$

Average Selling Price


Extraordinary Results We celebrate the notable success of our associates and clients

OLD GREENWICH

6 Ford Lane Last asking $7,500,000


GREENWICH

10 Flagler Drive Last asking $5,995,000 GREENWICH

5 Lindsay Drive Last asking $5,995,000 GREENWICH

Thunder Mountain Last asking $5,500,000 GREENWICH

20 Grahampton Lane Last asking $4,450,000 *in order from left to right, top to bottom

sothebyshomes.com/greenwich


DISCOVER NEW WINES THIS FALL Sothebyâ&#x20AC;&#x2122;s Wine is more than an auctioneer. We are a global retailer with stores in New York and Hong Kong. Visit us online at sothebyswine.com.

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Smythe & Jones

Greenwich Market Update | Q1 2018  
Greenwich Market Update | Q1 2018