Greenwich Market Update | Q3 2014

Greenwich, CT | web: 0066756

Greenwich Market Update 3rd Quarter 2014 GREENWICH BROKERAGE One Pickwick Plaza Greenwich, CT 06830 t. 203.869.4343

sothebyshomes.com/greenwich

All figures in this document are as reported by the Greenwich MLS (09/30/14)

A MESSAGE FROM OUR MANAGER: Pam Pagnani Town-wide, the Greenwich real estate market during the third quarter of this year does not differ much from the same time period last year, with the exception that the average selling price of a single family homes is over $2.4 million as opposed to last year when the average selling price was slightly over $2.2 million, which reflects an almost an 8% increase, according to the Greenwich Multiple Listing Service. This increase demonstrates more sustained strength in the higher end sales in the $3 million to well over $10 million range.

The total number of transactions declined somewhat town-wide, by approximately 8.5%, mostly due to a lack of inventory in one of the town’s most active segments, those listings of up to $1 million. Our most sought after properties continue to include waterfront properties, which are listing for very high price points and close to town neighborhoods generating more transactions and increasing values.

As a result of the increase of the town-wide average sales price, homeowners felt more confident and listed more of their single family homes; 585 this third quarter compared with 524 during last year’s third quarter. This reflects an 11% increase in inventory of active listings.

If we look at the various sections of town, including Greenwich, Old Greenwich, Riverside and Cos Cob, we note that each section has unique and different results. For instance in Greenwich the average sale price was $2.7 million. Greenwich remains the focus of many buyers seeking the proximity to town, schools and transportation. Transactions in the $1 million to $3 million range occurred in all sections of town. Both the Western section of Greenwich and Cos Cob accounted for the most sales up to $1 million. Backcountry Greenwich, north of the Parkway, dipped in the number of transactions to just 12 sales in the 3rd Quarter. However, half of these sales were at higher price levels ranging from $3 million to $13 million, including a number of properties with substantial acreage.

Old Greenwich waterfront area sales increased the average sale prices in the village higher, to over $3 million. During this quarter, Sotheby’s International Realty proudly participated in the four highest waterfront sales in Old Greenwich ranging from $6.4 million to $13.5 million. Riverside saw a 37.7% decline in the pace of sales in transactions, having sold 53 during last year’s third quarter to 33 during that same time period this year, with an average sale price in the $1.7 million range.

The increase in number of transactions in Cos Cob continued to demonstrate the popularity of neighborhoods which are located close to town and shopping areas. With fewer days on market, Cos Cob saw a big jump of sales near the village, increasing from 19 sales during the 3rd quarter of last year as compared to 29 sales during this year’s 3rd Quarter.

The global footprint of Sotheby’s International Realty and knowledge of the local markets continues to attract clients from across the nation and around the world, with approximately 720 offices in 52 countries and territories and more than 15,000 independent sales associates worldwide. We are prepared and equipped to assist you with your real estate needs and we thank those who already have or are working with us.

FEATURED LISTINGS

SUNSETS ON THE MIANUS RIVER | Web ID: 0067118 | $2,350,000 Greenwich Brokerage | Kathryn Adams | 203.912.7255

A CLASSIC IN MID-COUNTRY | Web ID: 0065980 | $5,095,000 Greenwich Brokerage | Shelly Tretter Lynch | 203.618.3103

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. 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. 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.

SIGNIFICANT SALES | Q3 2014

EASTERN POINT Greenwich Brokerage | Joseph Barbieri | 203.618.3112

WATERFRONT ESTATE IN OLD GREENWICH Greenwich Brokerage | Shelly Tretter Lynch | 203.618.3103

OLD GREENWICH SUNSET WATERFRONT Greenwich Brokerage | Scott Elwell | 203.618.3137

RESORT STYLE LIVING BY THE SEA Greenwich Brokerage | Carol Zuckert | 203.618.3135

TOWN WIDE

SINGLE FAMILY HOMES

2014 THIRD QUARTER CLOSED SALES PRICE RANGE

2012

2013

2014

% Change (2014 v 2013)

Up to $1,000,000

48

47

44

-6.4%

$1,000,000 - $3,000,000

93

115

100

-13.0%

$3,000,000 - $5,000,000

23

24

23

-4.2%

$5,000,000 - $7,500,000

12

10

10

0.0%

$7,500,000 - $10,000,000

5

2

2

0.0%

$10,000,000 & above

5

3

5

66.7%

186

201

184

-8.5%

2012

2013

2014

% Change (2014 v 2013)

Up to $1,000,000

154

127

112

-11.8%

$1,000,000 - $3,000,000

127

121

123

1.7%

TOTAL

AVERAGE DAYS ON MARKET PRICE RANGE

$3,000,000 - $5,000,000

142

165

165

0.0%

$5,000,000 - $7,500,000

237

244

364

49.2%

$7,500,000 - $10,000,000

302

400

153

-61.8%

95

464

167

-64.0%

147

142

140

-1.4%

2012

2013

2014

% Change (2014 v 2013)

74

50

54

8.0%

$10,000,000 & above

AVERAGE

ACTIVE INVENTORY PRICE RANGE Up to $1,000,000 $1,000,000 - $3,000,000

232

197

237

20.3%

$3,000,000 - $5,000,000

126

135

127

-5.9%

$5,000,000 - $7,500,000

64

71

85

19.7%

$7,500,000 - $10,000,000

30

27

32

18.5%

$10,000,000 & above

47

44

50

13.6%

573

524

585

11.6%

TOTAL YEAR

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

AVERAGE SALE PRICE

MEDIAN SALE PRICE

$2,614,418 $2,541,042 $3,394,386 $2,916,643 $2,805,363 $2,451,931 $2,340,892 $2,487,909 $2,230,231 $2,410,440

$1,887,500 $1,967,500 $2,277,500 $2,100,000 $1,800,000 $1,839,750 $1,497,500 $1,721,250 $1,700,000 $1,722,500

sothebyshomes.com/greenwich

$4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Median Sales Price

Average Sales Price

4

GREENWICH

SINGLE FAMILY HOMES 2014 THIRD QUARTER CLOSED SALES PRICE RANGE

2012

2013

2014

% Change (2014 v 2013)

Up to $1,000,000

20

17

19

11.8%

$1,000,000 - $3,000,000

36

52

45

-13.5%

$3,000,000 - $5,000,000

14

16

14

-12.5%

$5,000,000 - $7,500,000

9

9

8

-11.1%

$7,500,000 - $10,000,000

4

2

1

-50.%

$10,000,000 & above

3

2

3

50.0%

86

98

90

-8.2%

2012

2013

2014

% Change (2014 v 2013)

Up to $1,000,000

204

85

137

61.2%

$1,000,000 - $3,000,000

199

147

172

17.0%

$3,000,000 - $5,000,000

171

173

198

14.5%

$5,000,000 - $7,500,000

179

245

412

67.5%

$7,500,000 - $10,000,000

377

400

243

-39.3%

$10,000,000 & above

149

496

229

-53.8%

200

162

193

19.1%

TOTAL

AVERAGE DAYS ON MARKET PRICE RANGE

TOTAL

YEAR 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

5

AVERAGE SALE PRICE

MEDIAN SALE PRICE

$3,432,241 $3,260,767 $4,111,636 $3,669,217 $3,942,035 $3,089,435 $3,197,400 $2,955,138 $2,758,523 $2,702,136

$2,575,000 $2,600,000 $2,825,000 $2,800,000 $2,560,000 $2,582,500 $2,125,000 $2,031,000 $2,060,000 $1,837,500

$4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 20052006200720082009 2010 2011 2012 2013 2014 Median Sales Price

Average Sales Price

RIVERSIDE

SINGLE FAMILY HOMES

2014 THIRD QUARTER CLOSED SALES PRICE RANGE

2012

2013

2014

% Change (2014 v 2013)

Up to $1,000,000

9

13

9

-30.8%

$1,000,000 - $3,000,000

23

34

22

-35.3%

$3,000,000 - $5,000,000

4

4

2

-50.0%

$5,000,000 - $7,500,000

2

1

-

-

$7,500,000 - $10,000,000

1

-

-

-

$10,000,000 & above

1

1

-

-

40

53

33

-37.7%

2012

2013

2014

% Change (2014 v 2013)

Up to $1,000,000

98

230

51

-77.8%

$1,000,000 - $3,000,000

75

83

82

-1.2%

$3,000,000 - $5,000,000

117

165

163

-1.2%

$5,000,000 - $7,500,000

214

233

-

-

$7,500,000 - $10,000,000

1

-

-

-

$10,000,000 & above

1

402

-

-

87

134

78

-41.8%

TOTAL

AVERAGE DAYS ON MARKET PRICE RANGE

AVERAGE DAYS TOTALON MARKET

AVERAGE SALE PRICE

MEDIAN SALE PRICE

$3,000,000

2005 2006 2007 2008 2009 2010 2011 2012

$1,859,684 $1,967,745 $2,405,200 $2,385,424 $1,778,175 $1,816,236 $1,875,837 $2,393,681

$1,737,500 $1,700,000 $1,960,000 $1,865,000 $1,512,500 $1,700,000 $1,332,500 $1,696,875

$2,500,000

2013

$1,963,042

$1,680,000

2014

$1,696,464

$1,660,000

YEAR

sothebyshomes.com/greenwich

$2,000,000 $1,500,000 $1,000,000 $500,000 $0 20052006200720082009 2010 2011 2012 2013 2014 Median Sales Price

Average Sales Price

6

OLD GREENWICH

SINGLE FAMILY HOMES 2014 THIRD QUARTER CLOSED SALES PRICE RANGE

2012

2013

2014

% Change (2014 v 2013)

7

10

4

-60.0%

$1,000,000 - $3,000,000

22

17

16

-5.9%

$3,000,000 - $5,000,000

4

4

7

75.0%

$5,000,000 - $7,500,000

1

-

2

-

$7,500,000 - $10,000,000

-

-

1

-

$10,000,000 & above

1

-

2

-

35

31

32

3.2%

2012

2013

2014

% Change (2014 v 2013)

Up to $1,000,000

195

80

88

10.0%

$1,000,000 - $3,000,000

101

84

92

9.5%

$3,000,000 - $5,000,000

68

131

100

-23.7%

$5,000,000 - $7,500,000

798

-

169

-

$7,500,000 - $10,000,000

-

-

62

-

24

-

75

-

134

89

96

7.9%

Up to $1,000,000

TOTAL

AVERAGE DAYS ON MARKET PRICE RANGE

$10,000,000 & above

AVERAGE DAYS TOTALON MARKET

YEAR

AVERAGE SALE PRICE

MEDIAN SALE PRICE

2005 2006 2007 2008 2009 2010 2011 2012 2013

$2,120,647 $2,010,719 $3,033,000 $1,993,935 $1,715,734 $2,004,691 $2,082,300 $2,363,139 $1,611,706

$1,868,750 $1,905,000 $2,625,000 $1,600,000 $1,450,000 $1,817,500 $1,775,000 $1,860,000 $1,500,000

2014

$3,320,126

$2,450,000

7

$3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 20052006200720082009 2010 2011 2012 2013 2014 Median Sales Price

Average Sales Price

COS COB

SINGLE FAMILY HOMES

2014 THIRD QUARTER CLOSED SALES PRICE RANGE

2012

2013

2014

% Change (2014 v 2013)

Up to $1,000,000

12

7

12

71.4%

$1,000,000 - $3,000,000

12

12

17

41.7%

$3,000,000 - $5,000,000

1

-

-

-

$5,000,000 - $7,500,000

-

-

-

-

$7,500,000 - $10,000,000

-

-

-

-

$10,000,000 & above

-

-

-

-

25

19

29

52.6%

2012

2013

2014

% Change (2014 v 2013)

Up to $1,000,000

90

104

126

21.2%

$1,000,000 - $3,000,000

63

168

75

-55.4%

$3,000,000 - $5,000,000

134

-

-

-

$5,000,000 - $7,500,000

-

-

-

-

$7,500,000 - $10,000,000

-

-

-

-

$10,000,000 & above

-

-

-

96

-33.8%

TOTAL

AVERAGE DAYS ON MARKET PRICE RANGE

TOTAL

YEAR 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

79

AVERAGE SALE PRICE

MEDIAN SALE PRICE

$1,239,528 $1,376,400 $1,286,822 $1,369,375 $1,233,718 $1,165,559 $1,060,181 $1,206,080 $1,259,847 $1,313,841

$1,024,500 $1,305,000 $1,137,500 $1,441,250 $950,000 $1,199,000 $1,013,750 $1,030,000 $1,275,000 $1,178,000

sothebyshomes.com/greenwich

145

$1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0 20052006 2007 20082009 2010 2011 2012 2013 2014 Median Sales Price

Average Sales Price

8

TOWN WIDE

CONDOMINIUMS AND COOPS 2014 THIRD QUARTER CLOSED SALES PRICE RANGE

2012

2013

2014

% Change (2014 v 2013)

Up to $1,000,000

31

49

37

-24.0%

$1,000,000 - $2,000,000

4

9

11

22.0%

$2,000,000 - $4,000,000

4

2

4

100%

$4,000,000 & above

1

-

1

-

40

60

53

-11.7%

2012

2013

2014

% Change (2014 v 2013)

TOTAL

AVERAGE DAYS ON MARKET PRICE RANGE Up to $1,000,000

205

135

114

-15.6%

$1,000,000 - $2,000,000

410

198

184

-7.1%

$2,000,000 - $4,000,000

348

246

110

-55.3%

1

-

147

-

234

148

129

-12.8%

2012

2013

2014

% Change (2014 v 2013)

$4,000,000 & above

AVERAGE

AVERAGE SALES PRICE PRICE RANGE Up to $1,000,000

$519,258

$601,092

$603,904

0.5%

$1,470,625

$1,416,008

$1,274,532

-10.0%

$2,000,000 - $4,000,000

$2,893,750

$2,225,000

$2,453,125

10.3%

$4,000,000 & above

$4,850,000

-

$5,475,000

-

$960,113

$774,460

$974,562

25.4%

$1,000,000 - $2,000,000

TOTAL

ACTIVE INVENTORY SINGLE FAMILY HOMES

CONDOS AND CO-OPS

250

80 70

200

60

150

50 40

100

30 20

50

10

0

9

up to $1

$1 to $3

$3 to $5

$5 to $7.5 $7.5 to $10

$10+

0

up to $1

$1 to $2

$2 to $4

$4+

ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS NEW YORK, NY | Web: 0137370 | $2,895,000 HOUSTON, TX | Web: 1231558 | $3,649,000 SAN FRANCISCO, CA | Web: 0086965 | $3,995,000 RESORT MARKETS MALIBU, CA | Web: 1300004 | $2,495,000 WEST PALM BEACH, FL | Web: 0074827 | $3,795,000 SUMMERLAND, CA | Web: 0632268 | $3,750,000 FOREIGN MARKETS HONG KONG | Web: DDH648 | $2,838,234 ITALY | Web: ZV27TP | $3,165,375 FRANCE | Web: BMWKQP | Price Upon Request sothebysrealty.com

Where curb appeal meets global appeal.

GEORGIAN GRANDEUR | $5,995,000 | LESLIE MCELWREATH | 203.618.3165

There’s a reason we’re the local leader in luxury real estate. We’re at home in the luxury realm. We know the territory. And we’re backed by the global reach and resources of the world’s premier real estate network — offering you privileged access to the most qualified buyers. Let us show you.

GREENWICH BROKERAGE | 203.869.4343 One Pickwick Plaza | Greenwich, CT 06830

SothebysHomes.com/Greenwich

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.

FEATHRED LISTINGS

PREMIERE LOCATION - IMPORTANT ESTATE Web ID: 0067050 | $16,250,000 This timeless stone Georgian manor is set on 3 acres of beautifully manicured property in a prime midcountry Greenwich location.

Greenwich Brokerage Shelly Tretter Lynch | 203.618.3103

CLASSIC DEER PARK Web ID: 0067316 | $5,795,000 Mastering a mix of beauty and practicality, this classic residence adds distinctive character and understated elegance on approx. 2.32 park-like acres in a private Mid-Country association.

Greenwich Brokerage Joseph Barbieri | 203.618.3112

SERENITY Web ID: 0067210 | $4,995,000 Set on 5.65 park-like acres offering peaceful and private surroundings. 21st century colonial offering a Victorian twist paying homage to the grace and elegance of the period.

Greenwich Brokerage Barbara O’Shea | 203.618.3134