Greenwich Market Update | Q3 2017

Q3 | 2017

Greenwich

Market Update

GREENWICH

Fabulous Country Lifestyle | Offered at $12,475,000 22hurlinghamdr.com

GREENWICH

Offered at $9,900,000 61lowercrossrd.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 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

Byram Shore Road | Offered at $5,995,000 byramshorerd.com

GREENWICH

Offered at $10,950,000 781LakeAve.com GREENWICH

Offered at $9,900,000 61lowercrossrd.com GREENWICH

Offered at $5,795,000 200oldmillrd.com GREENWICH

Offered at $5,495,000 8mwd.com *in order from left to right, top to bottom

sothebyshomes.com/greenwich

Market Snapshot

Q3 2017 Highlights

SFH Active Inventory

All Greenwich

Highlight: Total Units Sold SFH 450 400 350

Old Greenwich 300 250

Greenwich Riverside

200

Riverside

Greenwich

Old Greenwich Cos Cob

150 100 50

Total Single Family Home Units Sold 248 48 81 57

Greenwich Cos Cob Riverside Old Greenwich

Old Greenwich

Riverside

Cos Cob

0 *Price in Millions

Greenwich

Cos Cob

Active Single Family Home Inventory by Price Point & Area 198 225 138 66

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

Q3 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

Single Family Home Median Selling Price 1.9 $ 1.2 $ 1.8 $ 2.1

$

Greenwich Cos Cob Riverside Old Greenwich *Price in Millions

Old Greenwich

Riverside

Cos Cob

Greenwich

$0.0 *Price in Millions

<$2M

$2 - $4M

$4 - $7.5M

$7.5M and up

Single Family Home Total Volume by Price Point 27 % 33 % 27 % 13 %

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

Q3 Highlights

/ Greenwich Market Update

at a glance {Q3 | 2017}

greenwich

6

%

Change in Average Selling Price {2017 v 2016}

6

%

Change in Units Sold {2017 v 2016}

248 Units Sold

2.7m

$

Average Selling Price

Greenwich SINGLE FAMILY HOMES AND CONDOS

sfh

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

{2017 v 2016}

Change

6%

-5%

1%

6%

-4%

2017

2,749,469

1,900,000

87%

248

426

2016

2,593,719

1,995,000

86%

234

446

2015

2,965,216

2,249,000

89%

249

413

2014

3,362,158

2,110,000

83%

253

428

Greenwich - SFH vs Condos Median

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

GRW Condos

$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

3%

2%

2%

17%

17%

2017

$916,777

$712,500

94%

119

98

2016

$891,497

$699,500

92%

102

84

2015

$1,120,280

$890,000

93%

117

88

2014

$957,596

$715,000

92%

100

98

Greenwich

/ Greenwich Q3 Market Update

Average Selling Price | Total Units Sold $1.6

80

$1.4

70

$1.2

60

$1.0

50

$0.8

40

$0.6

30

$0.4

20

$0.2

10

$0.0

0

2014

Average Selling Price <$2M Q3 | 2017 $7.5 and up

2015 $2M-$4M ASP

2016

2017

Total Units Sold

$4M-$7.5M Under $2 Million

$2 - 4 Million

$4 - 7.5 Million

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

3%

6%

-3%

-34%

6%

2017

$1,363,581

$1,240,000

89%

48

54

2016

$1,324,085

$1,175,000

92%

73

51

2015

$1,362,007

$1,250,000

94%

57

61

2014

$1,281,125

$1,178,000

93%

51

40

Greenwich Q3 Market Update / Cos Cob

at a glance {Q3 | 2017}

cos cob

3

%

Change in Average Selling Price {2017 v 2016}

-34

%

Change in Units Sold {2017 v 2016}

48 Units Sold

1.4m

$

Average Selling Price

at a glance {Q3 | 2017}

riverside

5

%

Change in Average Selling Price {2017 v 2016}

5

%

Change in Units Sold {2017 v 2016}

81 Units Sold

2.4m

$

Average Selling Price

Average Selling Price | Total Units Sold $2.5

100 90

$2.0

80 70

$1.5

60 50

$1.0

40 30

$0.5

20 10

$0.0

0

2014

Average Selling Price <$2M Q3 | 2017 $7.5 and up

2015

2016

2017

$2M-$4M Under $2 Million ASP

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

Total Units Sold

$7.5+ Million

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

5%

2%

3%

5%

3%

2017

$2,353,439

$1,785,000

89%

81

75

2016

$2,234,836

$1,757,000

86%

77

73

2015

$2,320,603

$1,887,500

92%

94

77

2014

$2,037,741

$1,887,500

93%

78

59

Riverside

/Greenwich Q3 Market Update

Average Selling Price | Total Units Sold $3.0

90 80

$2.5

70

$2.0

60 50

$1.5

40

$1.0

30 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 $4 - 7.5 Million Under $2 Million $2 - 4 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

28%

22%

-4%

-24%

9%

2017

$2,605,432

$2,125,000

89%

57

72

2016

$2,030,612

$1,735,000

93%

75

66

2015

$2,069,294

$1,700,000

95%

79

63

2014

$2,499,107

$2,000,000

91%

81

58

Greenwich Q3 Market Update / Old Greenwich

at a glance {Q3 | 2017}

old greenwich

28

%

Change in Average Selling Price {2017 v 2016}

-24

%

Change in Units Sold {2017 v 2016}

57 Units Sold

2.6m

$

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

NORTH COURT | $22,000,000

4 of the top 6

NORTH COURT $22,000,000 Listed by Helene Barre

ONEIDA DRIVE $19,250,000 Listed by Shelly Tretter

MEADOWCROFT LANE $13,065,000 Listed by Leslie McElwreath

GROVE LANE $9,800,000

Listed by Renee Haggquist

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. Final selling prices included. *Sales data is as of 10.13.17. All property transaction data is provided by Greenwich Association of REALTORS® MLS.

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