Greenwich Market Update | Q2 2017

Q2 | 2017

Greenwich

Market Update

GREENWICH

Offered at $29,500,000 110crr.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, Greenwichcontinues 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 ofdiscriminating buyers, sellers and renters. While Sotheby’s International Realty has offices around the world in 69 countries and territories, here inGreenwich we serve all of Greenwich 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 whileoffering 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 (6/30/2017). 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.

Featured Properties We invite you to explore our exclusive offerings at S OTHEBYS H O ME S.C O M/ G R E E N WIC H

GREENWICH

French Road | Offered at $9,250,000 36frenchroad.com

RIVERSIDE

Offered at $15,900,000 glenavondrive.com GREENWICH

Offered at $11,500,000 32vineyardlane.com GREENWICH

Offered at $8,495,000 brentwoodmanorct.com GREENWICH

Offered at $5,995,000 5lindsaydr.com *in order from left to right, top to bottom

sothebyshomes.com/greenwich

Market Snapshot Q2

SFH Active Inventory

All Greenwich

Highlight: Total Units Sold SFH 500 450

Old Greenwich

400 350

Greenwich Riverside

250

Riverside

Greenwich

Old Greenwich

200 150

Cos Cob

100

Total Single Family Home Units Sold 163 34 55 34

Greenwich Cos Cob Riverside Old Greenwich

Old Greenwich

Riverside

0 *Price in Millions

Cos Cob

50

Greenwich

Cos Cob

300

Active Single Family Home Inventory by Price Point & Area 185 235 148 70

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

Q2 Highlights

Highlight: Median Sale Price SFH

All Greenwich

Highlight: Vol by Price Points SFH

$2.5

$2.0

$7.5M and up <$2M

$1.5

$4 - $7.5M

$1.0

$0.5

$2 - $4M

Old Greenwich

Riverside

Cos Cob

*Price in Millions

Greenwich

$0.0

Single Family Home Median Selling Price 1.9 $ 1.3 $ 1.9 $ 2.1 $

Greenwich Cos Cob Riverside Old Greenwich *Price in Millions

<$2M

$2 - $4M

$4 - $7.5M

$7.5M and up

Single Family Home Total Volume by Price Point 28 % 35 % 26 % 11 %

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

Q2 Highlights

/ Greenwich Market Update

at a glance {Q2 | 2017}

greenwich

1

%

Change in Average Selling Price {2017 v 2016}

17

%

Change in Units Sold {2017 v 2016}

163 Units Sold

2.7m

$

Average Selling Price

Greenwich SINGLE FAMILY HOMES AND CONDOS

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

sfh {2017 v 2016}

Change

1%

0%

-1%

17%

-8%

2017

$2,670,423

$1,900,000

86%

163

433

2016

$2,642,081

$1,900,000

86%

139

473

2015

$2,868,842

$2,175,000

89%

151

397

2014

$3,757,135

$2,283,525

- SFH vs Condos Median Greenwich80% 161 420

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

GRW Con

$2,000,000

GRW SFH

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

2014

2015

Single Family Homes

condos

2016

2017

Condos

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

{2017 v 2016}

Change

16%

5%

2%

-1%

-9%

2017

$983,176

$737,450

93%

68

106

2016

$847,383

$700,000

92%

69

116

2015

$1,211,115

$932,500

93%

74

88

2014

$883,115

$685,000

92%

57

91

Greenwich

/ Greenwich Q2 Market Update

Average Selling Price | Total Units Sold $1.6

50

$1.4

45 40

$1.2

35

$1.0

30

$0.8

25

$0.6

20 15

$0.4

10

$0.2

5

$0.0

0

2014 Average Selling Price <$2M Q2 | 2017 $7.5 and up

2015 $2M-$4M

2016 $4M-$7.5M

2017 Total Units Sold Under $2 Million

$2 - 4 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 {2017 v 2016}

Change

-5%

4%

-5%

-23%

-34%

2017

$1,331,162

$1,290,000

89%

34

46

2016

$1,408,523

$1,242,500

94%

44

70

2015

$1,331,163

$1,257,500

94%

40

55

2014

$1,238,000

$1,175,000

93%

22

39

Greenwich Q2 Market Update / Cos Cob

at a glance {Q2 | 2017}

cos cob

-5

%

Change in Average Selling Price {2017 v 2016}

-23

%

Change in Units Sold {2017 v 2016}

34 Units Sold

1.3m

$

Average Selling Price

at a glance {Q2 | 2017}

riverside

16

%

Change in Average Selling Price {2017 v 2016}

22

%

Change in Units Sold {2017 v 2016}

55 Units Sold

2.4m

$

Average Selling Price

Average Selling Price | Total Units Sold $3.0

60

$2.5

50

$2.0

40

$1.5

30

$1.0

20

$0.5

10

$0.0

0

2014 Average Selling Price <$2M Q2 | 2017

$7.5 and up

2015 $2M-$4M Under $2 Million

2016

2017

Total Units Sold

$2 - $4M-$7.5M 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 {2017 v 2016}

Change

16%

15%

1%

22%

3%

2017

$2,365,104

$1,941,500

90%

55

82

2016

$2,034,630

$1,690,000

89%

45

80

2015

$2,701,566

$2,162,500

91%

57

65

2014

$2,288,011

$2,175,000

93%

45

50

Riverside

/Greenwich Q2 Market Update

Average Selling Price | Total Units Sold $2.5

60 50

$2.0

40 $1.5 30 $1.0 20 $0.5

10

$0.0

0

2014 Average<$2M Selling Price Q2 | 2017

$7.5 and up

2015 $2M-$4M

2016

2017 Total Units Sold

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

$4 - 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 {2017 v 2016}

Change

4%

6%

-3%

-15%

4%

2017

$2,250,324

$2,137,500

89%

34

77

2016

$2,172,113

$2,021,250

92%

40

74

2015

$2,012,556

$1,700,000

95%

49

71

2014

$1,962,931

$1,600,000

90%

49

68

Greenwich Q2 Market Update / Old Greenwich

at a glance {Q2 | 2017}

old greenwich

4

%

Change in Average Selling Price {2017 v 2016}

-15

%

Change in Units Sold {2017 v 2016}

34 Units Sold

2.3m

$

Average Selling Price

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

GREENWICH

Enchanting Estate In-Town Last asking $10,900,000

GREENWICH

Khakum Wood Georgian Last asking $6,650,000 SOUTH OF PARKWAY

Calhoun Drive Last asking $5,975,000 GREENWICH

Doubling Road Last asking $5,795,000 GREENWICH

Maple Avenue Last asking $5,200,000 *in order from left to right, top to bottom

sothebyshomes.com/greenwich

TONY DUQUETTE Lot 41: Multi-Colored Sapphire and Ruby Bracelet, $15,000-$20,000

New York July Sales 2017

Jewels Online Auction 30 June – 14 July Contemporary Living Online Auction 6 July – 19 July Contemporary Art Online Auction 7 July – 21 July Space Exploration Online Auction 7 July - 21 July Space Exploration Auction 20 July

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/Auctions.

ENQUIRIES +1 212 606 7000 © 2017 ARTISTS RIGHTS SOCIETY (ARS), NEW YORK / ADAGP, PARIS