Greenwich Market Update | Q4 2016

Greenwich, CT | sothebyshomes.com/0067353

Greenwich Market Update Year End 2016 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 (12/31/2016)

A MESSAGE FROM OUR MANAGER: Pam Pagnani This report provides information concerning the Greenwich real estate market for the period of January 1, 2016 through December 31, 2016 using data from the Greenwich Multiple Listing Service (GMLS). During this period, Greenwich saw an increase in the number of single-family homes sold priced between $1 million and $3 million; where in 2015, 150 single-family homes traded compared to 2016’s 163 homes sold. Old Greenwich witnessed a 100% increase in the number of homes sold between $3 and $5 million, from 7 to 14. In Riverside, single-family homes sold declined by 18% compared to prior year while active inventory increased by 9%. In Cos Cob, there was a 20% increase in the number of single-family homes sold. Condominiums in Cos Cob enjoyed both an increase in average and median sale price, 40% and 24% respectively.

Sellers will be happy to know that the average and median sale price increased North of the Parkway, 4% and 8% respectively, despite the townwide decline in average and median sale price by 9% in both categories. Greenwich townwide* experienced a 5% decrease in the number of single-family homes traded, from 601 in 2015 to 572 in 2016. This decline was driven by fewer homes sold in the $2 million and $7.5 million range. Homes that sold below $2 million, accounted for 61% of the 572 homes that sold in 2016. The condo/coop activity townwide decreased by 15%, from 210 in 2015 to 179 in 2016.

What differentiates Sotheby’s International Realty from our competitors is the ability to connect buyers and sellers globally. With a dedicated liaison stationed at the Sotheby’s Auction House, the company is able to help unite buyers with the properties our network represents. Today, the Sotheby’s International Realty network boasts more than 20,000 sales associates, located in approximately 850 offices in 65 countries and territories, sharing referrals around the world. In addition, Sotheby’s International Realty offers exclusive digital media partnerships, an internationally recognized online presence, a streamlined mobile site, customized eMarketing programs and detailed reports for sellers. * The town of Greenwich is comprised of Greenwich, North and South of the Parkway, Cos Cob, Riverside and Old Greenwich

FEATURED LISTINGS

NORTH COURT | Web ID: 0067353 | $20,000,000 Greenwich Brokerage | Helene Barre | 203.618.3123

AIKEN ROAD OASIS | Web ID: 0068192 | $12,995,000 Greenwich Brokerage | Fran Ehrlich | 203.203.3164

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.

sothebyshomes.com/0068165

TOWNWIDE 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 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.

AVERAGE SALES PRICE MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE

UNITS SOLD

SF

CONDO

2015

$ 2,421,486

$ 982,956

2016

$ 2,201,237

$ 939,931

% CHANGE

-9%

-4%

2015

$ 1,856,250

$ 720,000

2016

$ 1,698,000

$ 700,000

% CHANGE

-9%

-3%

2015

90%

93%

2016

87%

93%

% CHANGE

-3%

-

INVENTORY

SOLD JAN-DEC 2015

SOLD JAN-DEC 2016

% CHANGE 2016 TO 2015

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

Up to $999,999

108

147

117

138

8%

-6%

30

66

33

49

$1,000,000 - $1,999,999

228

45

234

22

3%

-51%

85

15

81

25

$2,000,000 - $2,999,999

113

12

99

13

-12%

8%

81

7

72

15

$3,000,000 - $3,999,999

65

4

58

3

-11%

-25%

69

5

62

6

$4,000,000 - $4,999,999

33

2

29

3

-12%

50%

47

5

40

2

$5,000,000 - $7,499,999

39

-

25

-

-36%

-

64

0

73

0

$7,500,000 - $9,999,999

10

-

5

-

-50%

-

27

0

30

0

$10,000,000 & Above

5

-

5

-

0%

-

44

0

36

0

601

210

572

179

-5%

-15%

447

98

427

97

TOTALS

LAST YEAR (12.31.2015)

THIS YEAR (12.31.2016)

3

sothebyshomes.com/0068243

GREENWICH On scenic Long Island Sound, just 30 miles from midtown Manhattan, Greenwich, Connecticut is a vibrant cosmopolitan community considered among the most desirable in the nation.

Founded in 1640, this historic town retains its natural beauty and picturesque charm, encompassing some 50 square miles stretching from the rolling hills, woodlands and meadows of the backcountry to 32 miles of shoreline on the Sound.

AVERAGE SALES PRICE

MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE

UNITS SOLD

SF

CONDO

2015

$ 2,821,384

$ 1,078,539

2016

$ 2,522,167

$ 992,654

% CHANGE

-11%

-8%

2015

$ 2,086,000 $ 816,500

2016

$ 1,900,000

$ 741,500

% CHANGE

-9%

-9%

2015

88%

93%

2016

86%

92%

% CHANGE

-3%

-1%

INVENTORY

SOLD JAN-DEC 2015

SOLD JAN-DEC 2016

% CHANGE 2016 TO 2015

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

Up to $999,999

57

101

54

101

-5%

0%

17

55

23

41

$1,000,000 - $1,999,999

96

41

104

17

8%

-59%

38

10

44

19

$2,000,000 - $2,999,999

54

11

59

10

9%

-9%

56

6

43

15

$3,000,000 - $3,999,999

43

4

35

3

-19%

-25%

45

5

44

6

$4,000,000 - $4,999,999

23

2

19

3

-17%

50%

43

5

32

2

$5,000,000 - $7,499,999

32

-

23

-

-28%

-

53

-

56

-

$7,500,000 - $9,999,999

10

-

4

-

-60%

-

24

-

24

-

$10,000,000 & Above

4

-

4

-

0%

-

41

-

34

-

319

159

302

134

-5%

-16%

317

81

300

83

TOTALS

4

LAST YEAR (12.31.2015)

THIS YEAR (12.31.2016)

sothebyshomes.com/greenwich

sothebyshomes.com/0068291

NORTH & SOUTH OF PARKWAY Situated north of the Merritt Parkway, the backcountry offers large luxury Greenwich real estate and properties amid extraordinarily beautiful countryside, with four-acre zoning throughout much of the area and extensive open space preserved through the efforts of the Greenwich Land Trust and other conservation organizations. North of Parkway of Greenwich offers a truly unique locale, a pastoral haven less than 35 miles from Manhattan.

South of the Merritt Parkway, South of Parkway of Greenwich enjoys a country-like setting with Greenwich real estate on zoning ranges from one to two acres in size. Protected conservation land adds to its ambiance, and scenic riding trails are ideal for the equestrian enthusiast.

AVERAGE SALES PRICE

MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE

NORTH SF

SOUTH SF

2015

$2,834,464

$3,405,687

2016

$2,939,223

$2,713,869

% CHANGE

4%

-20%

SOLD JAN-DEC 2016

$2,043,000 $2,043,000 $2,200,000 $2,200,000

% CHANGE

8%

8%

2015

85%

89%

2016

81%

87%

% CHANGE

-5%

-2%

UNITS SOLD SOLD JAN-DEC 2015

2015 2016

INVENTORY % CHANGE 2016 TO 2015

LAST YEAR (12.31.2015)

THIS YEAR (12.31.2016)

NORTH SF

SOUTH SF

NORTH SF

SOUTH SF

NORTH SF

SOUTH SF

NORTH SF

SOUTH SF

NORTH SF

SOUTH SF

5

10

5

13

0%

30%

3

4

-

4

$1,000,000 - $1,999,999

25

43

18

47

-28%

9%

10

14

11

24

$2,000,000 - $2,999,999

10

37

9

34

-10%

-8%

12

32

10

26

$3,000,000 - $3,999,999

7

33

6

24

-14%

-27%

14

25

8

33

$4,000,000 - $4,999,999

5

15

4

14

-20%

-7%

12

26

9

20

$5,000,000 - $7,499,999

8

17

5

14

-38%

-18%

24

21

20

27

$7,500,000 - $9,999,999

2

6

1

1

-50%

-83%

11

10

11

9

$10,000,000 & Above

-

4

1

-

-

-100%

20

16

17

14

62

165

49

147

-21%

-11%

106

148

86

157

Up to $999,999

TOTALS

5

sothebyshomes.com/0068260

COS COB Situated just east of Central Greenwich, Cos Cob reaches from the charming village center out to one and two acre properties in quiet, country settings. The scenic Mianus River offers an extensive waterfront with marinas and rowing facilities. The Montgomery Pinetum and Mianus River Park offer over 200 acres of natural parkland for hiking and exploring.

AVERAGE SALES PRICE

MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE

UNITS SOLD

SF

CONDO

2015

$1,365,294

$805,346

2016

$1,321,117

$1,126,000

% CHANGE

-3%

40%

2015

$ 1,250,000

$649,000

2016

$1,175,000

$805,000

% CHANGE

-6%

24%

2015

96%

92%

2016

92%

94%

% CHANGE

-5%

2%

INVENTORY

SOLD JAN-DEC 2015

SOLD JAN-DEC 2016

% CHANGE 2016 TO 2015

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

Up to $999,999

19

19

30

12

58%

-37%

2

10

5

4

$1,000,000 - $1,999,999

37

3

40

3

8%

0%

28

2

14

5

$2,000,000 - $2,999,999

8

1

9

3

13%

200%

5

1

5

-

$3,000,000 - $3,999,999

2

-

-

-

-100%

-

4

-

5

-

$4,000,000 - $4,999,999

-

-

-

-

-

-

-

-

-

-

$5,000,000 - $7,499,999

-

-

-

-

-

-

-

-

-

-

$7,500,000 - $9,999,999

-

-

-

-

-

-

-

-

-

-

$10,000,000 & Above

-

-

-

-

-

-

-

-

-

-

66

23

79

18

20%

-22%

39

13

29

9

TOTALS

6

LAST YEAR (12.31.2015)

THIS YEAR (12.31.2016)

sothebyshomes.com/greenwich

sothebyshomes.com/0068200

RIVERSIDE Riverside’s extensive shoreline on the river, harbor, and Long Island Sound contribute to its appeal as a desirable waterfront community with terrific Greenwich houses. It is closely linked to the neighboring village of Old Greenwich, and also lies within easy reach of the railroad station, making Riverside properties ideal for commuters to New York City.

AVERAGE SALES PRICE

MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE

UNITS SOLD

SF

CONDO

2015

$2,275,811

$697,250

2016

$2,121,617

$697,820

% CHANGE

-7%

0%

2015

$1,903,500

$649,500

2016

$1,690,000

$ 675,100

% CHANGE

-11%

4%

2015

91%

99%

2016

87%

97%

% CHANGE

-5%

-2%

INVENTORY

SOLD JAN-DEC 2015

SOLD JAN-DEC 2016

% CHANGE 2016 TO 2015

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

Up to $999,999

18

4

17

5

-6%

25%

8

-

5

-

$1,000,000 - $1,999,999

43

-

44

-

2%

-

10

-

12

-

$2,000,000 - $2,999,999

30

-

14

-

-53%

-

9

-

10

-

$3,000,000 - $3,999,999

13

-

9

-

-31%

-

8

-

8

-

$4,000,000 - $4,999,999

6

-

6

-

0%

-

3

-

5

-

$5,000,000 - $7,499,999

3

-

1

-

-67%

-

8

-

8

-

$7,500,000 - $9,999,999

-

-

1

-

-

-

1

-

4

-

$10,000,000 & Above

1

-

1

-

0%

-

2

-

2

-

114

4

93

5

-18%

25%

49

-

54

-

TOTALS

LAST YEAR (12.31.2015)

THIS YEAR (12.31.2016)

7

sothebyshomes.com/0068329

OLD GREENWICH The town’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 within walking distance of scenic Greenwich Point with its fine town beach, park and boating facilities. The convenient railroad station gives easy access to midtown Manhattan, approximately 45 minutes away.

AVERAGE SALES PRICE

MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE

UNITS SOLD

SF

CONDO

2015

$2,017,058

$567,542

2016

$1,997,289

$521,591

% CHANGE

-1%

-8%

2015

$1,685,000

$478,750

2016

$1,662,500

$374,500

% CHANGE

-1%

-22%

2015

93%

97%

2016

93%

96%

% CHANGE

0%

-1%

INVENTORY

SOLD JAN-DEC 2015

SOLD JAN-DEC 2016

% CHANGE 2016 TO 2015

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

Up to $999,999

14

23

16

20

14%

-13%

3

1

-

4

$1,000,000 - $1,999,999

52

1

46

2

-12%

100%

9

3

11

1

$2,000,000 - $2,999,999

21

-

17

-

-19%

-

11

-

14

-

$3,000,000 - $3,999,999

7

-

14

-

100%

-

12

-

5

-

$4,000,000 - $4,999,999

4

-

4

-

0%

-

1

-

3

-

$5,000,000 - $7,499,999

4

-

1

-

-75%

-

3

-

9

-

$7,500,000 - $9,999,999

-

-

-

-

-

-

2

-

2

-

$10,000,000 & Above

-

-

-

-

-

-

1

-

-

-

102

24

98

22

-4%

-8%

42

4

44

5

TOTALS

8

LAST YEAR (12.31.2015)

THIS YEAR (12.31.2016)

sothebyshomes.com/greenwich

SIGNIFICANT SALES | 2016

OLD ROUND HILL LANE ESTATE Greenwich Brokerage | Helene Barre | 203.550.0855

BIRCH LANE Greenwich Brokerage | Leslie McElwreath | 203.618.3165

GRACIOUS CENTER HALL COLONIAL Greenwich Brokerage | Krissy Blake | 203.618.3126

MASTERPIECES IN THE MAKING

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Collection available for purchase at Sotheby’s Diamonds salons and exclusive exhibitions worldwide.

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ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS NEW YORK, NY | Web: 0138486 | $5,250,000 GREENWICH, CT | Web: 0068267 | $5,300,000 SAN FRANCISCO, CA | Web: 0088189 | $5,695,000 RESORT MARKETS MONTECITO, CA | Web: 0114072 | $5,500,000 HAMPTONS, NY | Web: 0046575 | $5,500,000 NAPA VALLEY, CA | Web: 0244257 | $5,699,000 FOREIGN MARKETS BELGIUM | Web: HCGGW9 | 4.950.000 € GREECE | Web: SN3KDB | Price Upon Request SWITZERLAND | Web: YMDRPZ | 5’200’000 CHF sothebysrealty.com