The Commercial Record - July 2016

JULY 2016

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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT

THE

RECRUITMENT AND RETENTION ISSUE

Recession Fallout Continues; Development Design Lacks Qualified Candidates When The Playing Field Is Level, Hiring Comes Down To Corporate Culture Want To Pay Back Those Student Loans? Look For A Career In Cybersecurity

JULY 2016 | THE COMMERCIAL RECORD | 1

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inside The Commercial Record’s Recruitment And Retention Issue No matter the condition of the economy or the industry of the company, firms everywhere struggle with the right balance of recruiting new employees and retaining the ones they have. This issue of The Commercial Record takes a look at what local real estate agencies are doing to attract and keep Millennial agents, as well as clients; the impact the recession had on hiring in architecture; and the gap between the cybersecurity needs of the financial industry and the number of experts available for hire.

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6

No Soldiers For The Fight Financial industries nationwide find the demand for cybersecurity experts far outstrips the supply of qualified candidates.

10 Attracting Top Talent Agents say a lot of their recruitment strategy comes down to corporate culture, and not everyone fits in.

12 Choosy Candidates

10

Design departments struggle to recruit top talent in a field decimated by the recession.

8

news roundup

14 state statistics 16 c-changes 17 in person 18 top commercial transactions

12

20 trendlines 34 gossip report

JULY 2016 | THE COMMERCIAL RECORD | 3

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The Commercial Record (ISSN 0010-3098) © 2016 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher. Periodicals postage paid at Boston, MA, and additional locations. Published 12 times a year January to December 2016. The Commercial Record™ and The Warren Group™ are trademarks of The Warren Group Inc. POSTMASTER: Please send address changes to The Commercial Record, 280 Summer St., Boston, MA 02210. Basic annual subscription rate is $349, monthly subscription rate is $35. Subscription, advertising, editorial and production inquiries should be directed to: The Commercial Record, 280 Summer St., Boston, MA 02210, 800-356-8805.

4 | THE COMMERCIAL RECORD | JULY 2016

from the editor

EMPLOYEES ARE NOT CHATTEL

T

his month’s issue of The Commercial Record is about the age-old problem of employees – how to get them and how to keep them. People are complicated and policies are inflexible; the execution of said policies often loses sight of the people they are meant to promote and protect. Lots of “experts” have lots of advice about how to keep employees happy and productive, most of it contradictory. Amenities are all the rage, in development and in the firm – look to the tech industry for examples of nap pods, free food and open bars (all of which are designed to keep employees working longer and harder so they can’t take advantage of those open vacation policies). Much depends on the individual and why they have made the choices they have. A career in residential real estate affords a flexible schedule and at least the illusion of being your own boss. A career in the highly structured field of banking offers a clear path up the ladder. Those are two very different personality traits. Though recruitment strategies may vary by industry and the perks available are different in every field, it all comes

down to only one thing: treating employees like humans. A corporation’s culture has a lot to do with this. As Barbara Pearce sagely noted in Jim Morrison’s article in this issue (page 12), the agency promotes the idea that colleagues are peers. If you think of your coworkers as friends, almost family, you’re less likely to leave that comfortable place. Moreover, most workers spend far more time with their colleagues than they do with anyone else, including their own families and friends – better they should actually enjoy who they work with instead of merely tolerating them. Sometimes that bond is formed through fire – many a bar has seen the bonding between workers in the trenches of a highstress work environment – but that is, obviously, not an ideal way to build a team or a healthy corporate culture.

Teambuilding and cross-departmental cooperation are vital to creating a truly supportive environment for employees. So is open and communicative leadership. Perhaps we should just be grateful to have jobs at all, but in truth we’ll be working for most of our lives; much better that we should enjoy coming to work every day. It’s a charge often lobbed at a Millennial, who has (supposedly) been told their entire life that they are a special snowflake, which often doesn’t translate well in the business world. While there’s a line between supporting and enabling, everyone, no matter their generation, wants to feel valued. When employees feel valued and respected, they are far more invested in their job and in the company as a whole – and far less likely to leave it. n

Cassidy Murphy Editorial Director Email: cmurphy@thewarrengroup.com

JULY 2016 | THE COMMERCIAL RECORD | 5

No Soldiers For The Fight

INSIDE THE CUTTHROAT WORLD OF CYBERSECURITY RECRUITMENT

Demand For Talent Far Outstrips Supply Of Qualified Applicants

BY LAURA ALIX | COMMERCIAL RECORD STAFF

M

uch ink has been spilled in these very pages about both the need for strong cybersecurity practices and the talent wars happening at banks today (particularly in commercial lending), but ne’er the twain shall meet. But as hackers at home and abroad target financial institutions of all sizes, banks in need of talented cybersecurity personnel are finding that their demand is far outstripping the supply. “Our experience has been that the talent in that field is fully deployed. It’s really difficult to find cybersecurity technology specialists,” said Barry Abramowitz, executive vice president and chief information officer at Liberty Bank in Middletown. Chris Connolly, division manager at the IT recruiting firm Open Systems Technol-

ogies, says the supply of talented cybersecurity personnel is “not even close” to meeting the demand, and he has a theory as to why. In Connecticut in particular, the insurance capital of the world, many major organizations have outsourced at least part of their IT functions, creating the perception that the IT field is unstable. “As kids are going into college, their parents are telling them, ‘don’t go into IT, because you could be outsourced and lose your job,’” he said. Perhaps those parents should pay more

6 | THE COMMERCIAL RECORD | JULY 2016

attention to the high-profile data breaches hitting everybody from Target to the Fed. In banking and elsewhere, cybersecurity is no longer strictly the domain of IT. And while the Massachusetts-based search firm Kiradjieff & Goode Inc. specializes in executive and senior-level placements more generally, Managing Partner Chip Goode said that cybersecurity experience is increasingly valuable for positions like chief technology officer or chief information officer. That’s due in no small part to increased visibility of highprofile data breaches, along with the attendant scrutiny by regulators. “There’s no question that it’s increasingly on board of directors’ and CEOs’ minds,” he said. “One of the things we’ve been screening for in our CTO and CIO engagements is: ‘Does this professional have any background in cybersecurity? How knowledgeable are they? What has their specific experience been?’” Though all the top cybersecurity executives at the organization may not yet directly report to the CEO, those people tasked with keeping the bank’s data safe increasingly have more interaction with the CEO and the board, Goode said.

The Search For Up-And-Coming Talent Lore has it that the bank robber Willie Sutton once said that he robbed banks because “that’s where the money is.” Though Sutton didn’t actually say that, the principle certainly applies to today’s cybercriminals, who hack and phish their way to cash and sensitive customer data. As long as they’re lurking in the shadows, cybersecurity will be a priority to the banking industry. To help foster interest in the field, Connolly said that he often visits college campuses as part of his work with the Society for Information Management, spreading

Considering A Career In IT? Consider Some Figures

63% Last year, the Society for Information Management (SIM) found in its IT Trend Study that just under 63 percent of responding organizations said in 2014 that they planned to increase spending and budgeting for IT.

46% SIM also found that nearly 46 percent of respondents reported an increase in internal IT employees, as opposed to 21 percent who reported a decrease and 33 percent who reported no change at all.

the word about career prospects in the IT field. A cybersecurity professional could easily pull in a salary beginning around $70,000 for an entry-level position, he said. Perhaps more college students should know that. Companies in need of cybersecurity personnel are also trolling college campuses for fresh recruits. “What we’re seeing is more and more companies are actively involved in college recruiting, directly off campus, dramatically more than when I was in school,” he said. “They’re trying to get these kids young and bring them in and train them the way they want [them] to be trained.” The demand has also prompted many in other areas of the technology field to rebrand themselves in the hope of better positioning themselves for future job growth. “Oftentimes what we see are that people are more specialized in the roles they fill,” Abramowitz said. “They may be specialized in validating the environment to make sure their patch management program is up to date, but they have no involvement identifying any other vulnerabilities in their environment. Or they haven’t had experience in the documentation of policy and procedures, or haven’t had experience in incident response.” He said that he now sees people from other areas of IT seeking certifications – for example, a certified information security manager – to help propel their careers.

79% Additionally, 79 percent of those organizations reported that average IT staff salaries had increased and the average reported increase was just over 2 percent.

For his own part, Abramowitz said he doesn’t favor any one particular designation over another, but he values that in his employees and would-be employees. And Goode said that while particular cybersecurity qualifications haven’t yet been “make or break” in any of the senior technology placements his firm has made, having a well-rounded background in all areas of the bank’s technology function only

36% SIM found that the turnover rate for IT staff that year was at its highest level since the report began, at more than 36 percent of full-time IT staff. SIM sees this largely as a function of an improving job market.

helps professionals distinguish themselves. “It was definitely a nice to have qualification and enhanced their candidacy that much more,” he said. “From our experience, it is still coming down to strategy, leadership and communication skills and it is a real plus if they have this in their background.” n Email: lalix@thewarrengroup.com

Free money. First-come, first served. Really. For a limited time, we’re offering members zero-percent Classic Advances to create or preserve jobs in their communities. Our new program, Jobs for New England, will award up to $5 million in interest-rate subsidies every year through 2018. A maximum of $250,000 in subsidy is available per member each year. At current rates, $250,000 can leverage up to $30 million in one-year advances. To find out more about Jobs for New England, contact Fatima Razzaq at 617-425-9564, or fatima.razzaq@fhlbboston.com. But don’t delay. These funds won’t last forever.

See what your cooperative can do for you!

FHLBBoston Federal Home Loan Bank of Boston • 800 Boylston Street Boston, MA 02199 • www.fhlbboston.com

JULY 2016 | THE COMMERCIAL RECORD | 7

NEWS ROUNDUP CT GREEN BANK TO OFFER GRANTS FOR GREEN UPGRADES

The Connecticut Green Bank is soliciting applications for a program intended to provide supplemental funds to manufacturers who complete a qualifying green energy project using the organization’s program for energy efficient upgrades for commercial borrowers. The Energy on the Line program is offering grants for renewable energy and energy efficiency building upgrades and is accepting applications until Sept. 16. The Green Bank’s Commercial Property Assessed Clean Energy (C-PACE) program provides commercial property owners with full financing for green energy projects that help reduce the plant’s total energy cost and improve emissions. “Connecticut manufacturers feel the burden of energy costs more than anyone, and we’re excited to see C-PACE put manufacturers back in control of their businesses through the Energy on the Line program,” Bryan Garcia, president and CEO of the Connecticut Green Bank, said in a statement. “We look forward to working with the manufacturing community and to making green energy financing more accessible and affordable to them. That’s a win for Connecticut’s environment and economy.” The Green Bank is offering supplemental funding up to $50,000 for project related expenses with the intent of reducing the amount of financing needed by C-PACE to complete upgrades. The $800,000 program is funded through the Connecticut Department of Economic and Community Development’s Manufacturing Innovation Fund and will be matched by more than $8 million of private sector funds through the Connecticut Green Bank. The Green Bank is administering the program, which is open to all Connecticut manufacturing companies that have owner-occupied facilities.

JULIAN ENTERPRISES ACQUIRES COMMERCIAL OFFICES IN FAIRFIELD

A Fairfield commercial office building has sold for $2.9 million. Milford-based Julian Enterprises purchased the 24,866-square-foot building on 1.05 acres. BAO Partners LLC owns the property at 418 Meadow St. Angel Commercial Senior Vice President Brett A. Sherman represented the seller, and Lester Fradkoff represented the buyer in the transaction.

REM TO PAY $1.5M IN SETTLEMENT FOR ABUSING MEDICAID PROGRAM REM Connecticut Community Services has entered into a civil settlement with the federal and state governments in which it will pay $1.5 million to resolve allegations that it received overpayments from the state Medicaid program. REM, formerly of Middletown, operated multiple group homes that provided residential and day services to the intellectually disabled and at-risk youth. The company ceased state operations at the end of 2014. It is alleged that REM reported certain interest expenses as allowable costs in the annual reports of residential and day services that were not allowable under the state’s cost standards. Consequently, the government alleges the company received overpayments from Medicaid that it was not entitled to. REM has agreed to pay $1.5 million to the federal and state governments. A portion of the settlement amount will be satisfied by the government retaining nearly $1.2 million that was suspended by the state due to the company’s questionable billing practices. The remaining $310,975 will be paid by REM collectively to the federal and state governments.

THE MOST VIEWED ARTICLES IN JUNE • Former Execs Sue Nutmeg State FCU, Alleging Whistleblower Retaliation • Former Simsbury Man Found Guilty On 57 Counts As Part of Insurance Scheme • Former Financial Advisor Admits To Stealing Over $1M From Clients • Teaming Up For Successful Sales • Nutmeg State Financial Fires Back

8 | THE COMMERCIAL RECORD | JULY 2016

• Private Equity Fund Manager Charged In Elaborate Embezzlement Scheme • Savings Institute Promotes Retail Lending Specialist To SVP • Real Estate Firm Picks Up Waterbury Shopping Center • BHHS Names Top Sales Executives • Replica Of Jefferson’s Monticello Sells At Auction For $2.1M

EVENTS CMBA BOWLING CHALLENGE

CBRE LANDS OMEGA AS NEWEST TENANT IN NORWALK OFFICE BUILDING

CT Mortgage Bankers Association Aug. 18, 2016 Brunswick Colony Lanes, 600 South Colony Road, Wallingford, CT 06492 Who should attend: Bankers, attorneys, PMI professionals More information: www.cmba.org

OMEGA Engineering, a global instrumentation company, will relocate its corporate headquarters in Stamford with a 26,995-squarefoot office lease in Norwalk. The company will move to 800 Connecticut Ave., a 412,000-square-foot property owned by CBRE Strategic Partners U.S. Value 7, a fund sponsored by CBRE Global Investors. CBRE represented the building ownership in the lease negotiations. Steve Baker of Cushman & Wakefield acted on behalf of OMEGA Engineering. “800 Connecticut Ave. is one of the very few office buildings in the market that caters to TAMI tenants and Millennial employees, offering coworking and collaborative spaces as well as full Wi-Fi connectivity,” David Block of CBRE said in a statement. “OMEGA Engineering’s commitment to relocate its corporate operations from Stamford speaks directly to the allure of the property and the entire Norwalk submarket to global companies.” CBRE acquired 800 Connecticut Ave. last fall and plans to make $7 million worth of improvements, including a host of amenities and a new glass canopy. Other tenants include Priceline and Octagon.

HOME SALES UP AGAIN WITH DOUBLE-DIGIT INCREASE FOR 7TH CONSECUTIVE MONTH Single-family home sales in the Nutmeg State rose 23.9 percent in May, according to the latest report from The Warren Group, publisher of The Commercial Record. A total of 2,921 single-family homes sold in Connecticut during the month, compared with 2,357 sold year-over-year. This marked the highest number of sales in the month of May since 2007, when there were 3,039 homes sold. Year-to-date, sales were up 23 percent with 10,913 transactions, compared with 8,872 during the same timeframe a year ago. May also saw the largest percentage decrease in the median sale price in five consecutive months. The median price of a single-family home dropped by 7.2 percent to $246,000, compared with $265,000 a year ago. Year-to-date, prices are down 1.4 percent to $235,000 compared with $238,307 year-over-year. “Single-family home sales have hit double-digit percentage increases for seven consecutive months, for the first time since 2009,” Timothy M. Warren Jr., CEO of The Warren Group, said in a statement. Condominium sales in the state posted another double-digit increase in May, rising 14.7 percent with 719 condos sold, up from 627 in May of 2015. Year-to-date, condo sales were up 15.7 percent, with 2,871 condos sold compared to 2,482 during the same timeframe last year. May also saw the highest median sale price recorded in eight months. The median sale price for condos posted an increase of 5.8 percent, rising to $172,000 from $162,500 in May of 2015. Year-to-date, median condo sale prices fell 0.9 percent to $157,000, compared with $158,500 at the same time last year.

The best things in life are free. Especially money. We’re offering members zero-percent Classic Advances, on a first-come, first-served basis, to create or preserve jobs in their communities. Our new program, Jobs for New England, will award up to $5 million in interest-rate subsidies every year through 2018. A maximum of $250,000 in subsidy is available per member each year. At current rates, $250,000 can leverage up to $30 million in one-year advances. To find out more about Jobs for New England, contact Fatima Razzaq at 617-425-9564, or fatima.razzaq@fhlbboston.com. But don’t delay. These funds won’t last forever.

See what your cooperative can do for you!

FHLBBoston Federal Home Loan Bank of Boston • 800 Boylston Street Boston, MA 02199 • www.fhlbboston.com

JULY 2016 | THE COMMERCIAL RECORD | 9

Attracting Talent

BROKER/OWNERS WANT TO RECRUIT, RETAIN TOP PRODUCERS Corporate Culture Key To Keeping Salespeople Satisfied

BY JIM MORRISON | COMMERCIAL RECORD STAFF

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uccessful real estate agencies must carefully balance time spent recruiting great agents and time spent retaining the ones they already have – and these days, that’s harder than ever. For some, it’s not about “recruiting;” it’s about “attracting talent.” “We have a strong focus on high-caliber professionals,” said Candace Adams, president and CEO of BHHS New England Properties. “We’re bringing in new and experienced people, and we stress reputation. We’re trying to maintain the high quality of the brand. We try to target high-caliber agents in other firms” to bring them to one of the agency’s 50 offices statewide. Adams is particularly interested in hiring agents who can relate to and work well with the next big homebuying demographic – and she requires all agents to work full-time.

“We’ve had a focus on Millennials – highly skilled, professional young people,” Adams said. “We have a nice platform for them to come into the business. We’re being selective and making sure we vet them.” Other offices find their agents in the same way they find their clients – through referrals. That’s the case at Pearce Properties’ nine offices, where they’re also looking for top young talent. “We get most of our agents through referrals from current agents; that’s the most effective way,” said Barbara Pearce, president and CEO. “We also train new agents. We actually have a cohort of Millennial agents, all men, who started within the last three years. We’ve done very well with them. Everyone

10 | THE COMMERCIAL RECORD | JULY 2016

has the same problem. The median age of a real estate agent keeps going up.” Recruiting talented agents is even more complicated for a large firm like Coldwell Banker of Connecticut and Westchester County. Chuck Cusson, vice president of operations, manages more than 50 offices across a diverse geographic area, and the recruiting needs vary widely between offices. “We have a great cross-section of agents who we’re looking to attract and Millennials are part of that,” he said. “Our office leaders really look at their area and identify great agents, as well as new licensees, to determine who we want to bring on board. That affords us the ability to create the right mix of agents who complement each other.” And of course, firms are competing with each other to attract top talent. “We compete with both bigger and smaller firms,” Pearce said. “Every firm has its own personality. Our sweet spot is people who want the feel of a small firm and the ability to get paid the same day and the ability to reach a top manager easily, but also have the IT services and relocation services of a big firm. People commonly say, ‘I don’t want to go somewhere where I’m just a number.’ We all lose agents to smaller firms who don’t provide support or charge fees.”

Diversity Challenges According to the 2016 National Association of Realtor Membership Profile Report, the typical Realtor is a 53-year-old white woman. Many in the industry see that as an obstacle to connecting with Millennials, the next big cohort of homebuyers, as well as people of color. Pearce said it’s harder than ever to ensure her agents mirror the communities they serve. “Yes, I think everyone is having that problem,” she said. “The applicant pool does not look like the community.”

The aging of the workforce – and its rapidly approaching retirement – has its roots in an era long gone by, Pearce said. When many of these agents started in the industry, women were underpaid and marginalized in the workforce, without a lot of career options. Working mothers who found it difficult to simultaneously punch a clock and raise children found real estate sales a good fit, especially if they were married to someone working full time. Without a second, steady income stream, real estate can be a difficult career for young, single adults, she said. Cusson said the struggle to maintain a diverse sales force varies by market in his region, but what is constant is his commitment to striking the right balance. “This company was founded on diversity,” he said. The firm has an internal team that works to celebrate and honor diversity throughout the company, a support “that comes down from the corporate headquarters throughout the branch offices,” Casson said. “That’s our belief and an absolute foundation of our company, and a big part of how we support the global network. When you go to a Coldwell Banker event, you may meet agents from around the world.”

Once You Have Them, How Do You Keep Them? One of the key components of keeping agents happy – and thus keeping them in the firm – is a manager whose sole focus is on their employees, said those interviewed. The manager does not list or sell homes; they do not compete for the agents’ business, but rather are a resource for the agents’ continued success. “We have strong emphasis on culture, ethics, values and integrity,” Adams said. “The environment we provide is safe, flexible, professional, creative and supportive. Our agents get individual coaching and business planning. They’re strong and can give their clients anything they need. We’ve had our best year ever in attracting and retaining talent.” Cusson said his company places a high emphasis on recognizing the success of his agents. They also invest in agents’ education. “Support is the greatest thing you can offer sales associates,” he said. “This market is one of those challenging markets. It’s less

predictable and deals are more and more difficult. We have at least one support administrator in each branch office to support agents and help them work through transactions. We also have an entire team processing transactions. That means agents can do what they do best: be out in the field. We consistently hear from our agents that the biggest reasons they’re with us are the strength of their office manager and the education we provide.” Pearce said her agents expect a level of professionalism they won’t find in other companies. She also says agents who are interested in better splits or lower fees have to do a bit of homework to ensure they’re comfortable with the accompanying reductions in support services. “You can always find a better split or lower fees,” Pearce said. “Our constant struggle is to explain our commission plan. Big brokers know that it all comes out to about the same. It’s a constant struggle to get people to do the math. It’s harder than it used to be, because there are more choices today. You can get any kind of plan you want. The same thing isn’t right for everyone.” Recruiting and retention are on a col-

lision course, Pearce said; spending too much energy on one causes the other to suffer, so balance is crucial. Retaining agents is all about creating the right corporate culture; every company has its own personality, and the trick is to find agents who resonate with it. “You try to make your company feel like a family, so agents have the sense they belong to a culture; they don’t want to leave their friends and family,” she said. “For example, this year we had a corporate meeting on the day that would have been my father’s 100th birthday. Even though it was far away, we had incredibly high attendance. It was a great day. People spent the whole day together.” Cusson said that at the end of the day, for some agents, it all comes down to dollars and cents. “We have some agents who affiliate with us because we’re a global brand with offices in a number of countries around the world,” he said. “If an agent sees that affiliating with a specific office allows them to do more deals, then that’s where they go.” n Email: jmorrison@thewarrengroup.com

Money doesn’t grow on trees. But sometimes it’s free. We’re offering members zero-percent Classic Advances, on a first-come, first-served basis, to create or preserve jobs in their communities. Our new program, Jobs for New England, will award up to $5 million in interest-rate subsidies every year through 2018. A maximum of $250,000 in subsidy is available per member each year. At current rates, $250,000 can leverage up to $30 million in one-year advances. To find out more about Jobs for New England, contact Fatima Razzaq at 617-425-9564, or fatima.razzaq@fhlbboston.com. But don’t delay. These funds won’t last forever.

See what your cooperative can do for you!

FHLBBoston Federal Home Loan Bank of Boston • 800 Boylston Street Boston, MA 02199 • www.fhlbboston.com

JULY 2016 | THE COMMERCIAL RECORD | 11

Choosy Candidates

IT’S A COMPETITIVE JOB MARKET – IF YOU’RE HIRING

Downturn Left Lasting Impression On Design Industry

BY STEVE ADAMS | COMMERCIAL RECORD STAFF

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he Great Recession erased years of price appreciation in residential and commercial properties, but it had a littlenoticed effect on the job market as well. The downturn discouraged college students from pursuing jobs in the beatendown development sector. Nearly a decade later, the industry is still feeling the effects, with a drought of qualified candidates competing for job openings in the architecture field. “There’s a three- to five-year gap where all of those people who were pursuing architecture coming out of college pursued jobs elsewhere,” said Joseph Vallone, founder of a Greenwich architecture and development firm. “It’s difficult to find the person who doesn’t have 10 years’ experience.” The high cost of living along the Con-

necticut coastline and the preference of recent college grads to pursue jobs in larger cities also constricts the recruiting process, industry sources say. A recruitment specialist for a national architectural firm with local offices in New Haven County said candidates can afford to be choosy, and salary is secondary to job satisfaction and career advancement opportunities. “There are a lot more opportunities out there, and the smart candidates are savvy about that,” he said. “They know that they need to be selective looking at the right opportunities. They aren’t looking at the (salary) numbers, they are looking at cul-

12 | THE COMMERCIAL RECORD | JULY 2016

tural fit and the types of projects they can work on: the hierarchy at the studio and how they can fit in.” The source, who requested anonymity because of competitive considerations, said the firm has augmented traditional recruiting channels with social media channels, but campus outreach remains the primary source of entry-level candidates. Career fair interviews, if successful, proceed to follow-ups, typically in the form of videoconference interviews for out-of-state candidates and in-person meetings for finalists. With most candidates coming from out-of-state, the firm sometimes struggles to educate them about the details of working in the region. “It’s not a known quantity and there are a lot of questions about what it’s like to live there,” he said. “We do a fair amount of talking about New Haven as a place.”

In Greenwich, it’s still a “challenging” climate for recruiting at Douglas VanderHorn Architects, said William Malmstedt, an associate partner. Earlier this year, after several months looking to fill a junior-level opening, the firm ended up filling the position from within, Malmstedt said. “Unless you’re able to plan well in advance, it’s still difficult to find the right people,” he said. Part of the problem, Malmstedt said, is the high cost of housing in Fairfield County, which is a shock to candidates coming right out of college from outside the region. Most newer employees live with roommates. “We let them know in advance what they’re getting into. It’s not like it’s just 10 percent more,” he said.

School Ties Trump Social Media Savvy Despite the rise of social networks and online job boards, Connecticut firms still place a premium on relationships, be-

A recruitment specialist for a national architectural firm with local offices in New Haven County said candidates can afford to be choosy, and salary is secondary to job satisfaction and career advancement opportunities. tween appearances at college job fairs and reliance on industry recommendations. Industry sites with job boards such as Archinect and Architzer are a starting point, and connections through LinkedIn, Twitter and even Craigslist yield leads. But at a firm with 13 employees, the deciding factor usually comes down to culture fit, Malmdstedt said. “Because we’re in such a specialized profession, we’re most concerned about their ability to do the sort of work we’re looking to do,” he said. “We don’t expect them to know everything straight out of

college. Everyone we’ve brought in has blended in well enough. Especially in this profession, everyone has their quirks, but you learn to live with them.” The recruiter for the New Haven-area firm agreed that compatibility with the workplace vibe can be the single biggest factor in a hiring decision. “We’re not a big office and there’s not a lot of places to hide, so we just need everybody to work collegially and collaboratively,” he said. n Email: sadams@thewarrengroup.com

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JULY 2016 | THE COMMERCIAL RECORD | 13

STATE STATISTICS Number of Single-Family Sales by Price Range

10-Year Single-Family Sales 14,000

12,000 10,000

12,000

10,000 6,000

$700K+

4,000

1991

$500k-$699k

1996 2001 $400k-$499k

2006

2011

2016

$300k-$399k

2,500

$0-$299k 2,000

NUMBER OF SALES

NUMBER OF SALES

8,000

8,000

6,000

4,000 1,500

2,000

1,000 500

0

0

1991

1996

2001

2006

2011

2016

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

*Statistics include sales January - May All Years Source: The Warren Group

*Statistics include sales January - May All Years Source: The Warren Group

Lis Pendens and Foreclosures by Month 2,000

Lis Pendens Foreclosure Deeds 1,500

1,000

500

0

May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May

2014

14 | THE COMMERCIAL RECORD | JULY 2016

2015

2016

Top 5 Lenders by Market Share Refinance Mortgages

Multifamily Median Price 300,000

Quicken Loan Inc. | 2016 Rank: 1 | 2015 Rank: 3

2-Family 5.44%

3-Family

240,000

5.07%

Wells Fargo Bank NA | 2016 Rank: 2 | 2015 Rank: 1

PRICE

180,000

120,000

5.34% 60,000

5.64% 0

Webster Bank | 2016 Rank: 3 | 2015 Rank: 2

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 *Statistics include sales January - May All Years Source: The Warren Group

4.35%

20-Year Residential Median Prices 5.20%

300,000

Single-Family

Bank Of America NA | 2016 Rank: 4 | 2015 Rank: 5 240,000

Condo

3.61%

180,000

JPMorgan Chase Bank | 2016 Rank: 5 | 2015 Rank: 6

PRICE

5.02%

120,000

3.22% 60,000

2.63% 0

2016

2015

*MarketShare percent includes loans through May for both years

96 97 98 99 00 01 02 03 04 04 06 07 08 09 10 11 12 13 14 15 16 *Statistics include median prices January - May All Years Source: The Warren Group

JULY 2016 | THE COMMERCIAL RECORD | 15

C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES

Gene Michael Deary has been promoted to senior vice president of the Savings Institute Bank & Trust. Deary was previously director of retail lending. Deary started at Savings Institute Bank & Trust in 2014. He serves on the board of directors for ARC of Quinebaug Valley, and as finance chair for the town of Brooklyn.

Frank Fetzer has joined Chelsea Groton Bank’s residential lending team in Glastonbury. Fetzer will work to build new relationships throughout Hartford, Tolland and Middlesex counties, and assist clients with traditional mortgages, affordable lending programs and specialty financing. He is licensed with the Nationwide Mortgage Licensing System & Registry. Fetzer most recently held positions at Sovereign/Santander as a mortgage development officer and Simsbury Bank as a mortgage loan advisor.

Webster Bank recently announced that John Tracey has been named managing director and senior relationship manager for the bank’s sponsor and specialty finance group. In this position, Tracey is responsible for originating and executing senior secured credit facilities for private equity sponsors and middle market companies across all sectors of the health care industry. Tracey brings 20 years of finance- and banking-related experience to Webster. Previously, he was managing director and head of health care risk management at Varagon Capital Partners.

AWARDS & ACCOLADES

The Governor’s Prevention Partnership has selected Kim Mauro, assistant branch manager at First Niagara Bank in Manchester, for its Connecticut Mentoring Hall of Fame. The award was established to recognize and honor individuals from a corporation or business who have committed tremendous time, energy and effort to the field of youth mentoring. Mauro, a Manchester resident, joins 10 other individuals from corporations around the state who have been inducted into the hall of fame since it was established by the partnership in 2011.

16 | THE COMMERCIAL RECORD | JULY 2016

Robin DiNicola, Simsbury Bank’s vice president and senior market manager for the Avon and Canton markets, has received the Loren Bristol Spirit Award from the Avon Chamber of Commerce. The award is presented annually in memory of Loren Bristol to a current member of the chamber who demonstrates devotion to their family, commitment to bettering the community and dedication to business.

IN PERSON A Commercial Record online exclusive, the In Person features in-depth interviews with top talent in finance and real estate, from CEOs to nonprofit leaders, entrepreneurs to industry veterans. Excerpts from these interviews appear in the print version of The Commercial Record; to see the complete stories, please visit www.commercialrecord.com.

JULIA ANNE M. SLOM SENIOR VICE PRESIDENT AND TEAM LEADER, COMMERCIAL REAL ESTATE GROUP, WASHINGTON TRUST At first, Slom didn’t intend to stay long in the banking industry, but since landing at Washington Trust, she’s seen the bank grow from $400 million in assets to nearly $4 billion today. How would you characterize much of the commercial real estate deals you’ve been doing in Connecticut lately? We’ve done quite a bit of retail, especially in the Fairfield County market. … It’s both acquisition and refinance, plus some redevelopment of existing stuff and then also some ground-up construction. And really all property types: retail, industrial, office and multifamily. We haven’t done as much [industrial] in Connecticut as in the Boston area and a little bit in Providence. But we have some up in the Windsor Locks area. What do you think about the competitive landscape in Connecticut? The big banks, in a lot of cases, are not looking at the same deals we are, [and when they are], if they’re big enough, we partner with them. … All of our competition is friendly competition because a lot of times we’re working together on a deal. I think in Connecticut, the competition is very healthy.

JOSEPH A. VALVANO PRESIDENT, COLDWELL BANKER RESIDENTIAL, CONNECTICUT AND WESTCHESTER COUNTY After buying their first piece of real estate around the time they got married, Valvano and his wife were hooked. They bought more real estate, got their real estate licenses and soon bought a real estate office. You and your wife went from being sales agents to owning an office fairly quickly. How did that happen? We had bought a duplex just before we got married and moved in after the wedding. We rented out the other side. Shortly thereafter, we bought a vacant lot and designed and built a home. … The real estate firm we worked with was for sale. So, we sold the investment property and used the proceeds to buy this little real estate firm and grew it to the point where we had the number-one market share in the area. The year is off to a good start; do you expect to finish that way? We’re in an interesting time because interest rates are low and the financial markets are fairly strong. … When consumers are more confident, they’re more apt to buy a higher-ticket item. If all of a sudden there’s a negative world event and interest rates go up, the real estate market is going to suffer.

KATHRYN SHAFER DEPUTY POLICY DIRECTOR, PARTNERSHIP FOR STRONG COMMUNITIES Shafer develops and advocates on behalf of policies that support a broad range of housing opportunities in Connecticut communities, both in her current role at the Partnership for Strong Communities and her previous position at the Women’s Institute for Housing and Economic Development. How do you gauge the effectiveness of the Incentive Housing Zone program? You look at it from the whole ecosystem. The backdrop is there are a lot of communities where it’s difficult to develop mixed-income and affordable housing. The incentive housing zone was advanced because we thought it was important for towns to look at affordable housing outside of projects under review. And that’s hugely important, as opposed to being in a reactive and defensive position. What are the partnership’s top priorities for the legislative agenda? Certainly we realize Connecticut is in a difficult budget climate but we continue to advocate for programs to end homelessness. We’re also working to find resources that help us address homelessness among youth, and funding for creation of affordable housing for families as a foundation of opportunity.

JULY 2016 | THE COMMERCIAL RECORD | 17

TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly. TOP 3 STATEWIDE 611 E Hill Rd, Southbury....................... $18,900,000

32 Schoolhouse Hill Rd, Newtown........ $10,000,000

223 Washington Ave, Bridgeport........... $9,418,644

Use:............................................. Commercial Building

Use:............................................. Commercial Building

Use:............................................... Apartment Building

Buyer:.......................................... Nhi Reit Of Axel LLC

Buyer: .........................................Cascades Hld US Inc

Buyer: ........................................................ BCT 1 LLC

Seller:................................ Watermark East Hill Woods

Seller: .................................... Rand Whitney Container

Seller: .........................................K Washington St LLC

Date:............................................................ 06/07/16

Date: ............................................................ 06/01/16

Date: ............................................................ 05/31/16

Total Assessed Value (2016):................... $21,189,000

Total Assessed Value (2016): .....................$3,708,600

Total Assessed Value (2016): ........................$821,100

Lot Size:..................................................... 2436746sf

Lot Size: ....................................................... 816314sf

Lot Size: ......................................................... 13050sf

Prior Sale: ...................................$34,440,000 (11/07)

Prior Sale: .....................................$2,963,000 (12/98)

Prior Sale:........................................ $510,000 (11/09)

FAIRFIELD 32 Schoolhouse Hill Rd, Newtown.$10,000,000 Use:............................................. Commercial Building Buyer: .........................................Cascades Hld US Inc Seller: .................................... Rand Whitney Container Date: ............................................................ 06/01/16 Total Assessed Value (2016):..................... $3,708,600 Lot Size: ....................................................... 816314sf Prior Sale: .....................................$2,963,000 (12/98)

223 Washington Ave, Bridgeport.... $9,418,644 Use:............................................... Apartment Building Buyer:........................................................ BCT 1 LLC Seller:......................................... K Washington St LLC Date: ............................................................ 05/31/16 Total Assessed Value (2016): ........................$821,100 Lot Size: ......................................................... 13050sf Prior Sale: ........................................$510,000 (11/09)

9 Woodland Ave, Stamford.............. $2,310,000 Use:............................................... Apartment Building Buyer: ................................. 59 Woodland Avenue LLC Seller:................................ 5 Woodland Avenue Assoc Mtg:..................... CBRE Capital Mkts Inc $2,000,000 Date:............................................................ 05/24/16 Total Assessed Value (2016): ........................$431,750 Lot Size:........................................................... 6163sf Prior Sale:........................................ $750,000 (05/04)

37-39 Charter Oak Pl, Hartford....... $3,705,000 Use:................................... Apartment Bldg - 9 + Units Buyer: .........................................Aria Charter Oak LLC Seller: ........................................... Dr Charter Oak LLC Mtg: ..................... CBRE Capital Mkts Inc $3,535,000 Date: ............................................................ 05/12/16 Total Assessed Value (2015): ........................$883,545 Lot Size:......................................................... 16988sf Prior Sale: ........................................$900,000 (03/05)

29 Old Windsor Rd, Bloomfield....... $3,528,920 Use:............................................. Commercial Building Buyer: ... JA Bloomfield LLC & Storage Pros Bloomfield Seller: ................................... Albany Road CT Storage Mtg: .................................. Eastern Bank $26,107,700 Date:............................................................ 05/11/16 Total Assessed Value (2016): .....................$1,617,840 Lot Size: ....................................................... 172933sf Prior Sale:..................................... $2,250,000 (12/12)

32 Watertown Rd, Thomaston........ $1,175,000 Use:................................... Commercial Devlpble Land Buyer: ............................ 32 Watertown Rd Thomaston Seller: ....................................Clocktown Const&Mgmt Date: ............................................................ 05/19/16 Total Assessed Value (2015): ........................$234,710 Lot Size: ......................................................... 64904sf Prior Sale: ........................................$750,000 (08/01)

29 State St, Watertown.................... $500,000 Use:............................................. Commercial Building Buyer: .............................................Oxbow Realty LLC Seller: .........................................C&S Real Estate LLC Date: ............................................................ 06/02/16 Total Assessed Value (2016): ........................$239,300 Lot Size:......................................................... 30056sf Prior Sale: ........................................$375,000 (01/02)

732 Middlesex Tpke, Old Saybrook. $565,000 Use:............................................. Commercial Building Buyer:................ Alfonso Pisanzio & Juliana R Pisanzio Seller: .....................................................Irving T Wong Mtg: .............................. C Barton Gullong $1,700,000 Date:............................................................ 05/19/16 Total Assessed Value (2016): ........................$269,200 Lot Size: ......................................................... 34412sf

11 Kirby Rd, Cromwell..................... $450,000 Use:............................................. Commercial Building Buyer: ............................................ 11 Kirby Road LLC Seller: ..Robert C Serviss Tr, Tr for Patricia A&R Serviss FT Mtg: .......................... Newtek Small Bus Fin $530,000 Date: ............................................................ 05/24/16 Total Assessed Value (2015): ........................$263,520 Lot Size:......................................................... 41818sf

HARTFORD 1280 Hopmeadow St, Simsbury...... $4,199,996 Use:................................................... Commercial Use Buyer: ...............................Storage Pros Simsbury LLC Seller: ............................... Albany Rd Storage Simsbur Mtg: .................................. Eastern Bank $26,107,700 Date: ............................................................ 05/11/16 Total Assessed Value (2016):..................... $2,447,810 Lot Size: ....................................................... 257875sf Prior Sale: .....................................$4,600,000 (12/12)

LITCHFIELD 992 E Main St, Torrington............... $2,000,000 Use:........................................................ Bowling Alley Buyer: ........................................992 East Main St LLC Seller: ........................................ Deco Enterprises LLC Date: ............................................................ 05/05/16 Total Assessed Value (2016): ........................$860,940 Lot Size: ....................................................... 108900sf

MIDDLESEX 455 Main St, Deep River................. $1,375,000 Use:............................................. Commercial Building Buyer: .........................................................Lessul LLC Seller: ............................... Commerce Crossing Realty Mtg: ..........................Eastern Svgs Bk FSB $940,000 Date: ............................................................ 05/18/16 Total Assessed Value (2015): ........................$579,110 Lot Size:....................................................... 535788sf

18 | THE COMMERCIAL RECORD | JULY 2016

FEATURED PROPERTY 6 Coogan Blvd, Stonington........................................................... $7,125,000 Use:........................................................................................ Commercial Building Buyer: .................................................................................. J&H Hospitality Mystic Seller: ................................................................................................... Saram LLC Mtg: ................................................................................... Dime Bank $6,000,000 Date: ........................................................................................................05/09/16 Total Assessed Value (2016): ................................................................ $2,880,800 Lot Size:................................................................................................... 212573s

NEW HAVEN 611 E Hill Rd, Southbury................$18,900,000 Use:............................................. Commercial Building Buyer:........................................... Nhi Reit Of Axel LLC Seller: ................................Watermark East Hill Woods Date: ............................................................ 06/07/16 Total Assessed Value (2016): ...................$21,189,000 Lot Size: ..................................................... 2436746sf Prior Sale:................................... $34,440,000 (11/07)

375 Washington Ave, North Haven.. $2,400,000 Use:..................................................Industrial Building Buyer: .................................. 375 Washington Ave LLC Seller: ......................................375 Wasington Ave Ent Mtg: ..................................BMO Harris Bk $1,616,000 Date: ............................................................ 05/18/16 Total Assessed Value (2016): ........................$716,100 Lot Size:....................................................... 102802sf Prior Sale:..................................... $1,575,000 (11/12)

1660 E Main St, Waterbury............. $2,200,000 Use:............................................... Apartment Building Buyer: .................... Paul D Lagasse & Vincent Lagasse Seller: ................................... Rational Real Est 10 LLC Mtg: ......................... Thomaston Svgs Bk $2,000,000 Date: ............................................................ 05/11/16 Total Assessed Value (2016): .....................$1,953,000 Lot Size: ......................................................... 42689sf Prior Sale: .....................................$4,100,000 (12/06)

5 Woods Dr, Norwich...................... $2,000,000 Use:............................................... Apartment Building Buyer: .......................................5 Norwich Woods LLC Seller: .............................BR Norwich Apartments LLC Date: ............................................................ 05/26/16 Total Assessed Value (2016): .....................$2,250,220 Lot Size: ....................................................... 487872sf Prior Sale:..................................... $1,700,000 (10/03)

17 Hancox St, Stonington............... $1,350,000 Use:............................................... Apartment Building Buyer: .......................................Stonington Village LLC Seller: ........................................Sea Village Waterfront Date: ............................................................ 05/24/16 Total Assessed Value (2016): ........................$975,300 Lot Size: ......................................................... 16117sf

482 Talcottville Rd, Vernon............. $1,200,000 Use:............................................................. Retail-Any Buyer: .................................. 482 Talcottville Road LLC Seller:........................................................ Kishan LLC Mtg: ................................................ Seller $1,000,000 Date: ............................................................ 05/19/16 Total Assessed Value (2015): ........................$357,560 Lot Size: ......................................................... 43124sf Prior Sale:........................................ $275,000 (08/10)

28 Center St, Stafford..................... $1,150,000 Use:............................................... Apartment Building Buyer: ................................. Stafford Springs Apts LLC Seller: ......................................Center Street Apts LLC Mtg:............................. Greystone Servicing $940,000 Date: ............................................................ 06/06/16 Total Assessed Value (2016): ........................$545,370 Lot Size: ....................................................... 116741sf

161 Main St, Windham..................... $450,000 Use:.................................Res Potentially Dvlpble Land Buyer:........................................ HRES Willimantic LLC Seller: ................. Scott Beausoleil & Shawn Beausoleil Date: ............................................................ 05/02/16 Total Assessed Value (2015): ..........................$19,780 Lot Size: ......................................................... 35284sf

148 Margaret Henry Rd, Killingly..... $265,000 Use:...........................................................Auto Repair Buyer: .....................................Chapel Props West LLC Seller: ..................... Clifford W Basley & Jo-Ann Basley Mtg:....................................... Putnam Bank $212,000 Date: ............................................................ 05/09/16 Total Assessed Value (2015): ........................$158,340 Lot Size: ......................................................... 34412sf

NEW LONDON 6 Coogan Blvd, Stonington............. $7,125,000 Use:............................................. Commercial Building Buyer: ....................................... J&H Hospitality Mystic Seller: ........................................................ Saram LLC Mtg: ........................................Dime Bank $6,000,000 Date: ............................................................ 05/09/16 Total Assessed Value (2016): .....................$2,880,800 Lot Size:....................................................... 212573sf

TOLLAND 2 Commerce Dr, Columbia.............. $2,995,280 Use:..................................................Industrial Building Buyer: .Storage Pros Columbia LLC & JA Columbia LLC Seller: ...............................Albany Rd Columbia Storag Mtg: .................................. Eastern Bank $26,107,700 Date:............................................................ 05/11/16 Total Assessed Value (2016): .....................$1,214,430 Lot Size:....................................................... 340204sf Prior Sale: .....................................$2,600,000 (03/15)

WINDHAM 104 Main St, Windham..................... $560,000 Use:.............................................. Gas/Service Station Buyer:............................................................ FAZ LLC Seller: .................................... Edward M Sprague LLC Mtg: ...................... Edward M Sprague LLC $400,000 Date: ............................................................ 05/05/16 Total Assessed Value (2015): ........................$357,420 Lot Size: ......................................................... 17424sf

JULY 2016 | THE COMMERCIAL RECORD | 19

TRENDLINES

FAIRFIELD COUNTY SALES REPORT

NUMBER OF SALES

MEDIAN PRICE

MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 YTD

1 Family

1 3

15

15.38%

59

56

-5.08%

$297,000

$325,000

9.43%

$291,000

$300,750

3.35%

Condo

3

10

233.33%

28

25

-10.71%

$232,000

$280,000

20.69%

$287,500

$290,000

0.87%

1 7

26

52.94%

100

106

6.00%

$297,000

$284,500

-4.21%

$293,000

$304,670

3.98%

$155,000

3.33%

%CHG 15-16

MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

BETHEL

All Sales

BRIDGEPORT 1 Family

3 3

43

30.30%

148

187

26.35%

$173,000

$155,000

-10.40%

$150,000

Condo

1 9

14

-26.32%

56

66

17.86%

$69,000

$91,450

32.54%

$75,000

114

42.50%

358

452

26.26%

$161,000

$139,950

-13.07%

$130,000

$132,750

All Sales

8 0

$65,000 -13.33% 2.12%

BROOKFIELD 1 Family

1 3

26

100.00%

55

66

20.00%

$362,000

$339,500

-6.22%

$362,000

$343,517

-5.11%

Condo

7

6

-14.29%

22

23

4.55%

$163,500

$242,000

48.01%

$161,750

$183,500

13.45%

2 8

35

25.00%

112

113

0.89%

$246,450

$315,000

27.81%

$305,000

$290,000

-4.92%

1 Family

2 5

40

60.00%

119

155

30.25%

$275,500

$250,500

-9.07%

$260,000

$258,000

-0.77%

Condo

2 3

37

60.87%

107

129

20.56%

$186,000

$189,000

1.61%

$185,000

$171,000

-7.57%

6 4

107

67.19%

310

386

24.52%

$231,400

$250,000

8.04%

$250,000

$249,950

-0.02%

1 Family

3 8

31

-18.42%

96

105

9.38%

$1,635,000

$1,350,000

Condo

4

1

-75.00%

16

9

-43.75%

$1,764,870

4 5

34

-24.44%

124

127

2.42%

$1,625,000

$1,298,000

1 Family

1 2

11

-8.33%

44

41

-6.82%

$472,950

$660,000

Condo

0

0

0

0

1 3

14

7.69%

46

49

6.52%

$485,000

$577,500

All Sales

DANBURY

All Sales

DARIEN

All Sales

-17.43% $1,349,500

$1,255,000

-7.00%

N/A -100.00% $1,701,632

$1,630,000

-4.21%

-20.12% $1,635,000

$1,290,000 -21.10%

EASTON

All Sales

N/A

N/A

N/A

N/A

39.55% N/A

$535,000 N/A

$600,000 N/A

12.15% N/A

19.07%

$535,000

$591,500

10.56%

-2.48%

FAIRFIELD 1 Family

8 7

67

-22.99%

250

220

-12.00%

$585,000

$540,000

-7.69%

$553,750

$540,000

Condo

1 3

8

-38.46%

34

36

5.88%

$355,000

$265,000

-25.35%

$355,000

$291,000 -18.03%

1 08

87

-19.44%

317

297

-6.31%

$539,500

$510,000

-5.47%

$519,400

$510,000

16.97% $1,375,000

All Sales

-1.81%

GREENWICH 1 Family

4 4

24

-45.45%

149

111

-25.50%

$1,250,362

$1,462,500

Condo

6

9

50.00%

44

48

9.09%

$609,500

$723,000

6 2

39

-37.10%

232

191

-17.67%

$1,145,000

$1,200,000

1 Family

2 0

27

35.00%

68

60

-11.76%

$336,700

$370,000

9.89%

Condo

3

7

133.33%

18

20

11.11%

$242,000

$236,000

-2.48%

2 7

36

33.33%

96

92

-4.17%

$337,500

$368,500

9.19%

$1,380,000

All Sales

$1,435,000

4.36%

$617,500

$711,500

15.22%

4.80% $1,150,000

$1,100,000

-4.35%

$348,500

$336,250

-3.52%

$222,250

$225,250

1.35%

$327,500

$311,500

-4.89%

-17.61% $1,475,000

$1,410,000

-4.41%

18.62%

MONROE

All Sales

NEW CANAAN 1 Family

3 8

17

-55.26%

87

71

-18.39%

$1,675,000

Condo

7

2

-71.43%

21

19

-9.52%

$885,000

5 0

20

-60.00%

123

100

-18.70%

$1,573,750

$1,343,500

22

340.00%

50

78

56.00%

$445,000

$250,188

0 -100.00%

6

2

-66.67%

228.57%

66

86

30.30%

$440,000

$259,500

-41.02%

$293,550

$283,000

$376,000

$390,000

3.72%

$370,000

$350,000

-5.41%

N/A $290,000

$343,635

18.49%

$350,000

0.00%

All Sales

N/A -100.00%

$829,000

-14.63% $1,315,000

$630,000 -24.00% $1,274,900

-3.05%

NEW FAIRFIELD 1 Family

5

Condo

1

All Sales

7

23

N/A

N/A

-43.78%

$370,000

N/A $231,088

$287,500 -22.30% N/A - 100.00% -3.59%

NEWTOWN 1 Family

4 0

35

-12.50%

137

133

-2.92%

Condo

2

4

100.00%

5

9

80.00%

5 0

46

-8.00%

160

163

1.88%

All Sales

20 | THE COMMERCIAL RECORD | JULY 2016

N/A $350,000

$239,818 $379,000

8.29%

$350,000

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES MAY 2015

MAY %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

NORWALK 1 Family

5 6

58

3.57%

200

226

13.00%

$457,500

$477,550

4.38%

$450,000

$418,250

-7.06%

Condo

2 6

29

11.54%

123

114

-7.32%

$273,650

$285,000

4.15%

$255,000

$272,500

6.86%

9 7

101

4.12%

378

412

8.99%

$410,000

$396,000

-3.41%

$369,000

$375,750

1.83%

1 Family

1 6

14

-12.50%

42

48

14.29%

$577,000

$518,225

-10.19%

$545,000

$512,500

-5.96%

Condo

0

0

0

2

1 8

15

-16.67%

47

58

23.40%

$545,000

$495,000

All Sales

REDDING

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

-9.17%

$535,000

$507,500

N/A -5.14%

RIDGEFIELD 1 Family

2 6

24

-7.69%

90

103

14.44%

$614,900

$666,400

8.38%

$627,400

$635,000

1.21%

Condo

4

6

50.00%

20

27

35.00%

$201,450

$157,700

-21.72%

$193,346

$220,000

13.79%

3 3

34

3.03%

125

139

11.20%

$548,800

$631,500

15.07%

$548,800

$560,000

2.04%

1 Family

2 6

35

34.62%

98

122

24.49%

$255,750

$360,000

40.76%

$257,250

$300,000

16.62%

Condo

1 5

11

-26.67%

56

46

-17.86%

$220,000

$279,900

27.23%

$232,500

$225,000

-3.23%

52

23.81%

181

196

8.29%

$248,950

$346,175

39.05%

$271,000

$285,000

5.17%

0.00%

13

17

30.77%

$499,000

33.07%

0

0

All Sales

SHELTON

All Sales

4 2

SHERMAN 1 Family

2

2

Condo

0

0

2

2

0.00%

15

20

33.33%

All Sales

N/A

N/A

N/A

N/A

N/A $375,000

N/A

N/A

N/A

N/A

N/A

N/A $375,000

N/A

N/A

N/A

$465,000

24.00%

STAMFORD 1 Family

5 8

54

-6.90%

212

258

21.70%

$575,000

$640,000

11.30%

$533,000

$547,500

2.72%

Condo

5 9

62

5.08%

188

231

22.87%

$315,000

$305,500

-3.02%

$271,000

$296,000

9.23%

1 36

143

5.15%

481

616

28.07%

$400,000

$455,000

13.75%

$402,500

$433,750

7.76%

-4.23%

All Sales

STRATFORD 1 Family

5 1

50

-1.96%

174

217

24.71%

$225,000

$219,250

-2.56%

$224,500

$215,000

Condo

1 1

12

9.09%

43

64

48.84%

$185,000

$177,632

-3.98%

$180,000

$152,500 -15.28%

81

14.08%

267

347

29.96%

$199,900

$210,000

5.05%

$212,500

$198,000

-6.82%

$347,450

$352,000

1.31%

$349,900

$353,500

1.03%

N/A $321,000

$335,000

4.36%

All Sales

7 1

TRUMBULL 1 Family

3 2

40

25.00%

101

160

58.42%

Condo

1

4

300.00%

8

13

62.50%

3 8

46

21.05%

124

181

45.97%

$347,450

$342,500

-1.42%

$347,950

$352,000

1.16%

1 Family

1 6

14

-12.50%

48

47

-2.08%

$807,450

$727,500

-9.90%

$782,500

$730,000

-6.71%

Condo

0

0

0

0

1 8

14

-22.22%

54

49

-9.26%

$807,450

$727,500

$1,000,000

$1,262,500

All Sales

N/A

$326,250

WESTON

All Sales

N/A

N/A

N/A

N/A

N/A -9.90%

N/A

N/A

N/A

$782,500

$725,000

-7.35%

26.25% $1,097,500

$1,220,000

11.16%

N/A $636,375

$742,500

16.68%

33.03% $1,022,500

$1,175,000

14.91%

WESTPORT 1 Family

3 7

30

-18.92%

120

139

15.83%

Condo

2

2

0.00%

10

10

0.00%

4 9

36

-26.53%

154

170

10.39%

1 Family

2 3

20

-13.04%

66

61

-7.58%

$829,000

$751,000

-9.41%

$837,000

$780,000

-6.81%

Condo

3

6

100.00%

8

17

112.50%

$430,000

$327,500

-23.84%

$357,500

$336,500

-5.87%

2 8

27

-3.57%

83

85

2.41%

$837,000

$639,000

-23.66%

$799,000

$720,000

-9.89%

$413,500 -10.01%

All Sales

N/A $919,000

N/A $1,222,500

WILTON

All Sales

FAIRFIELD COUNTY 1 Family

7 11

699

-1.69% 2,426

Condo

2 09

230

10.05%

All Sales

1 ,083 1,132

2,681

10.51%

$510,000

$425,000

-16.67%

$459,500

813

910

11.93%

$278,450

$265,750

-4.56%

$255,000

$249,900

-2.00%

4.52% 3,953

4,435

12.19%

$425,000

$362,637

-14.67%

$375,000

$352,000

-6.13%

JULY 2016 | THE COMMERCIAL RECORD | 21

TRENDLINES

HARTFORD COUNTY SALES REPORT

NUMBER OF SALES MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2 0 8 3 0

14 12 29

-30.00% 50.00% -3.33%

70 50 133

4 5 1 2

13 7 22

225.00% 40.00% 83.33%

2 3 3 2 7

27 8 39

4 1 5 5 1

MEDIAN PRICE

2016 YTD

%CHG 15-16

MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

68 35 113

-2.86% -30.00% -15.04%

$380,000 $180,000 $330,000

$575,000 $199,950 $297,500

51.32% 11.08% -9.85%

$395,000 $205,000 $320,000

$371,500 $190,000 $301,000

-5.95% -7.32% -5.94%

40 19 72

57 16 85

42.50% -15.79% 18.06%

$231,250 $270,000 $278,750

$230,000 $260,000 $236,250

-0.54% -3.70% -15.25%

$238,100 $214,000 $238,100

$229,900 $257,500 $230,000

-3.44% 20.33% -3.40%

17.39% 166.67% 44.44%

85 13 108

97 23 137

14.12% 76.92% 26.85%

$179,900 $155,000 $179,900

$187,500 $273,950 $191,000

4.22% 76.74% 6.17%

$179,000 $207,500 $180,950

$169,900 $195,000 $185,000

-5.08% -6.02% 2.24%

55 6 81

34.15% 20.00% 58.82%

124 20 186

182 38 283

46.77% 90.00% 52.15%

$185,500 $74,000 $183,500

$174,000 $74,750 $165,000

-6.20% 1.01% -10.08%

$178,500 $82,000 $166,533

$170,000 $99,500 $156,500

-4.76% 21.34% -6.02%

6 0 7

16 0 18

166.67% N/A 157.14%

35 0 44

41 2 49

17.14% N/A 11.36%

$400,650 N/A $407,500

$253,100 -36.83% $290,000 N/A N/A N/A $275,600 -32.37% $284,500

$261,200 -9.93% N/A N/A $290,000 1.93%

8 4 1 3

17 3 23

112.50% -25.00% 76.92%

26 17 50

40 9 55

53.85% -47.06% 10.00%

$260,000 $127,500 $156,000

$329,000 26.54% $250,500 96.47% $329,000 110.90%

$272,500 $155,000 $232,500

$294,500 $158,500 $269,000

8.07% 2.26% 15.70%

8 1 9

100.00% -50.00% 12.50%

12 3 21

21 5 30

75.00% 66.67% 42.86%

$236,000 N/A $236,000

$255,500 N/A $255,000

8.26% $232,950 N/A $79,900 8.05% $236,000

$240,000 $132,000 $228,000

3.03% 65.21% -3.39%

41 4 54

-2.38% 33.33% -3.57%

133 17 200

170 13 236

27.82% -23.53% 18.00%

$147,450 $121,000 $147,880

$155,000 $114,000 $145,417

5.12% -5.79% -1.67%

$135,000 $67,000 $139,600

$146,750 8.70% $169,000 152.24% $145,000 3.87%

7 6 1 3

11 3 16

57.14% -50.00% 23.08%

30 14 53

31 7 51

3.33% -50.00% -3.77%

$245,000 $160,950 $186,000

$165,000 $157,000 $164,900

-32.65% -2.45% -11.34%

$155,000 $154,200 $150,000

$185,000 $162,000 $165,000

19.35% 5.06% 10.00%

3 9 1 4 5 8

46 13 65

17.95% -7.14% 12.07%

136 42 194

172 40 239

26.47% -4.76% 23.20%

$167,500 $141,500 $161,500

$163,500 $132,000 $155,300

-2.39% -6.71% -3.84%

$166,925 $139,000 $160,000

$164,000 $127,950 $156,000

-1.75% -7.95% -2.50%

21 26 48

-19.23% 116.67% 4.35%

71 42 136

91 68 173

28.17% 61.90% 27.21%

$367,500 $242,450 $316,750

$420,000 $201,000 $303,750

14.29% -17.10% -4.10%

$335,000 $193,000 $307,750

$330,000 $176,500 $285,000

-1.49% -8.55% -7.39%

2 8 1 5 5 2

32 9 42

14.29% -40.00% -19.23%

98 44 174

141 47 212

43.88% 6.82% 21.84%

$377,000 $156,000 $281,000

$342,000 $171,000 $316,750

-9.28% 9.62% 12.72%

$327,250 $170,000 $291,200

$327,900 $164,900 $281,750

0.20% -3.00% -3.25%

1 3 1 1 5

19 2 22

46.15% 100.00% 46.67%

39 7 53

52 4 75

33.33% -42.86% 41.51%

$260,000 N/A $246,000

$310,000 19.23% $260,000 N/A N/A $175,000 $287,250 16.77% $246,000

$269,750 $202,000 $255,000

3.75% 15.43% 3.66%

18 8 59

-30.77% -11.11% 3.51%

96 48 265

102 43 317

6.25% -10.42% 19.62%

$122,500 $40,000 $123,500

$96,278 $49,900 $113,000

-2.75% -1.67% 4.39%

9 0 9

7 0 8

-22.22% N/A -11.11%

$192,500 N/A $192,500

AVON 1 Family Condo All Sales

BERLIN 1 Family Condo All Sales

BLOOMFIELD 1 Family Condo All Sales

BRISTOL 1 Family Condo All Sales

BURLINGTON 1 Family Condo All Sales

CANTON 1 Family Condo All Sales

EAST GRANBY 1 Family Condo All Sales

4 2 8

EAST HARTFORD 1 Family Condo All Sales

4 2 3 5 6

EAST WINDSOR 1 Family Condo All Sales

ENFIELD 1 Family Condo All Sales

FARMINGTON 1 Family Condo All Sales

2 6 1 2 4 6

GLASTONBURY 1 Family Condo All Sales

GRANBY 1 Family Condo All Sales

HARTFORD 1 Family Condo All Sales

2 6 9 5 7

$75,250 $74,250 $80,325

-38.57% 85.63% -34.96%

$99,000 $50,750 $108,250

HARTLAND 1 Family Condo All Sales

4 0 4

2 0 2

-50.00% N/A -50.00%

22 | THE COMMERCIAL RECORD | JULY 2016

N/A -100.00% $209,000 N/A N/A N/A N/A -100.00% $209,000

$274,000 31.10% N/A N/A $264,500 26.56%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

MANCHESTER 1 Family Condo All Sales

3 2 4 4 5

71 7 103

121.88% 75.00% 128.89%

131 23 196

203 43 321

54.96% 86.96% 63.78%

$150,500 $106,250 $142,000

$167,500 $117,000 $175,900

11.30% 10.12% 23.87%

$155,000 $105,000 $149,950

$163,000 $102,000 $158,000

5.16% -2.86% 5.37%

MARLBOROUGH 1 Family Condo All Sales

3 0 3

7 0 7

133.33% N/A 133.33%

18 2 25

20 1 22

11.11% -50.00% -12.00%

$210,000 N/A $210,000

$370,000 76.19% $212,500 N/A N/A N/A $370,000 76.19% $215,000

$291,000 36.94% N/A N/A $281,500 30.93%

36 4 59

89.47% 0.00% 43.90%

117 26 221

153 22 282

30.77% -15.38% 27.60%

$129,000 $54,500 $128,000

$147,950 14.69% $125,500 130.28% $145,000 13.28%

$125,000 $59,950 $120,000

$133,000 $65,000 $128,125

6.40% 8.42% 6.77%

20 10 32

-20.00% 11.11% -15.79%

82 36 139

80 49 144

-2.44% 36.11% 3.60%

$220,000 $112,000 $204,500

$235,000 $133,200 $197,500

6.82% 18.93% -3.42%

$196,950 $142,500 $190,000

$207,500 $138,000 $186,000

5.36% -3.16% -2.11%

16 7 27

60.00% 40.00% 58.82%

40 17 68

50 18 88

25.00% 5.88% 29.41%

$194,670 $115,000 $179,000

$205,450 $105,000 $189,900

5.54% -8.70% 6.09%

$192,335 $148,000 $187,000

$175,050 -8.99% $107,500 -27.36% $165,000 -11.76%

13 9 27

44.44% -25.00% 22.73%

38 40 89

49 62 125

28.95% 55.00% 40.45%

$241,500 $166,000 $203,250

$271,000 $171,000 $225,000

12.22% 3.01% 10.70%

$240,000 $142,750 $191,000

$260,000 $169,250 $205,000

35 10 48

52.17% 25.00% 41.18%

88 25 120

122 28 159

38.64% 12.00% 32.50%

$314,900 $154,750 $297,950

$293,000 $189,000 $289,950

-6.95% 22.13% -2.69%

$298,320 $174,500 $277,750

$292,250 -2.03% $155,500 -10.89% $282,000 1.53%

25 9 40

47.06% 0.00% 37.93%

60 22 97

83 38 140

38.33% 72.73% 44.33%

$310,000 $132,900 $290,000

$263,000 $154,000 $237,500

-15.16% 15.88% -18.10%

$282,850 $146,450 $254,000

$251,000 -11.26% $156,950 7.17% $225,000 -11.42%

1 4 1 2 3 4

30 7 46

114.29% -41.67% 35.29%

94 33 179

150 39 233

59.57% 18.18% 30.17%

$180,000 $165,000 $180,000

$282,950 $199,900 $247,450

57.19% 21.15% 37.47%

$232,000 $170,500 $220,000

$266,500 14.87% $134,900 -20.88% $235,000 6.82%

1 3 3 2 0

13 9 28

0.00% 200.00% 40.00%

40 15 70

41 23 86

2.50% 53.33% 22.86%

$325,000 $81,500 $283,450

$295,000 $150,000 $210,250

-9.23% 84.05% -25.82%

$275,450 $122,500 $232,500

$275,000 -0.16% $162,000 32.24% $197,000 -15.27%

90 15 111

50.00% 25.00% 40.51%

199 39 261

282 55 380

41.71% 41.03% 45.59%

$296,875 $197,500 $280,000

$296,500 $195,000 $285,000

-0.13% -1.27% 1.79%

$278,000 $215,000 $269,900

$295,000 6.12% $190,000 -11.63% $282,750 4.76%

2 7 5 3 5

35 6 46

29.63% 20.00% 31.43%

108 21 145

120 15 152

11.11% -28.57% 4.83%

$219,000 $64,000 $206,000

$235,000 7.31% $143,000 123.44% $232,250 12.74%

$222,350 $142,500 $190,000

$230,000 3.44% $127,000 -10.88% $218,500 15.00%

1 4 4 2 5

41 7 55

192.86% 75.00% 120.00%

93 18 129

127 29 183

36.56% 61.11% 41.86%

$170,000 $204,750 $182,000

$185,000 $227,000 $181,000

8.82% 10.87% -0.55%

$179,500 $121,000 $174,000

$179,500 $150,000 $175,700

0.00% 23.97% 0.98%

13 2 23

85.71% -33.33% 64.29%

31 11 55

53 12 84

70.97% 9.09% 52.73%

$133,000 $143,000 $139,000

$167,500 25.94% N/A -100.00% $180,000 29.50%

$143,000 $135,000 $148,000

$160,000 $127,950 $166,000

11.89% -5.22% 12.16%

39.18% 2,143 15.25% 664 33.45% 3,492

2,805 784 4,462

30.89% 18.07% 27.78%

$215,000 $155,000 $194,670

$219,000 $160,250 $201,200

$202,000 $152,000 $185,000

$209,000 $147,500 $189,000

3.47% -2.96% 2.16%

NEW BRITAIN 1 Family Condo All Sales

1 9 4 4 1

NEWINGTON 1 Family Condo All Sales

2 5 9 3 8

PLAINVILLE 1 Family Condo All Sales

1 0 5 1 7

ROCKY HILL 1 Family Condo All Sales

9 1 2 2 2

8.33% 18.56% 7.33%

SIMSBURY 1 Family Condo All Sales

2 3 8 3 4

SOUTH WINDSOR 1 Family Condo All Sales

1 7 9 2 9

SOUTHINGTON 1 Family Condo All Sales

SUFFIELD 1 Family Condo All Sales

WEST HARTFORD 1 Family Condo All Sales

6 0 1 2 7 9

WETHERSFIELD 1 Family Condo All Sales

WINDSOR 1 Family Condo All Sales

WINDSOR LOCKS 1 Family Condo All Sales

7 3 1 4

HARTFORD COUNTY 1 Family Condo All Sales

5 64 785 1 77 204 8 85 1,181

1.86% 3.39% 3.35%

JULY 2016 | THE COMMERCIAL RECORD | 23

TRENDLINES

LITCHFIELD COUNTY SALES REPORT

NUMBER OF SALES APR 2015

APR %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

APR 2015

APR %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

BARKHAMSTED 1 Family Condo All Sales

4 0 5

7 0 7

75.00% N/A 40.00%

13 0 17

18 0 21

38.46% N/A 23.53%

$272,500 N/A $235,000

$257,500 N/A $257,500

-5.50% $222,500 N/A N/A 9.57% $222,500

$253,750 14.04% N/A N/A $257,500 15.73%

5 0 7

66.67% N/A 133.33%

9 0 11

11 0 16

22.22% N/A 45.45%

$225,000 N/A $225,000

$265,000 17.78% $252,000 N/A N/A N/A $225,000 0.00% $252,000

$223,000 -11.51% N/A N/A $214,875 -14.73%

3 0 4

4 0 5

33.33% N/A 25.00%

8 0 10

8 0 13

0.00% N/A 30.00%

$405,000 N/A $397,500

$383,500 -5.31% $397,500 N/A N/A N/A $307,000 -22.77% $397,500

$395,000 -0.63% N/A N/A $460,000 15.72%

1 0 2

4 0 4

300.00% N/A 100.00%

3 0 5

7 0 9

133.33% N/A 80.00%

N/A N/A N/A

$272,500 N/A $272,500

N/A $159,000 N/A N/A N/A $159,000

$230,000 44.65% N/A N/A $220,000 38.36%

3 0 3

200.00% N/A 200.00%

4 0 6

7 0 7

75.00% N/A 16.67%

N/A N/A N/A

$225,200 N/A $225,200

N/A $133,950 N/A N/A N/A $187,500

$206,000 53.79% N/A N/A $206,000 9.87%

0 0 1

1 0 3

N/A N/A 200.00%

2 0 3

6 0 10

200.00% N/A N/A N/A 233.33%

N/A N/A $780,000

N/A N/A N/A N/A N/A $157,000

$410,000 N/A N/A N/A $462,500 194.59%

0 0 1

4 0 4

N/A N/A 300.00%

16 0 22

16 0 21

0.00% N/A -4.55%

N/A N/A N/A

$287,500 N/A $287,500

N/A $305,000 N/A N/A N/A $305,000

$272,500 -10.66% N/A N/A $240,000 -21.31%

9 0 11

350.00% N/A 83.33%

24 0 33

29 1 40

20.83% N/A 21.21%

N/A N/A $138,000

$276,000 N/A $200,000 N/A N/A N/A $276,000 100.00% $189,000

$255,000 27.50% N/A N/A $248,500 31.48%

2 -33.33% 0 -100.00% 6 50.00%

12 1 15

9 3 22

-25.00% 200.00% 46.67%

$285,500 N/A $242,250

N/A -100.00% $477,500 N/A N/A N/A $243,750 0.62% $350,000

$350,000 -26.70% $169,900 N/A $320,250 -8.50%

6 1 9

5 1 6

-16.67% 0.00% -33.33%

19 3 29

24 2 36

26.32% -33.33% 24.14%

$337,500 N/A $330,000

$211,500 -37.33% $325,500 N/A N/A $375,000 $225,700 -31.61% $310,000

$256,000 -21.35% N/A - 100.00% $256,000 -17.42%

2 0 2

1 0 2

-50.00% N/A 0.00%

12 0 15

2 0 5

1 0 1

-85.71% N/A -85.71%

18 2 29

11 5 25

-38.89% 150.00% -13.79%

$340,000 N/A $340,000

22 9 40

-8.33% 50.00% 25.00%

78 29 131

93 24 149

19.23% -17.24% 13.74%

$299,500 $137,500 $281,500

3 0 6

7 0 11

133.33% N/A 83.33%

BETHLEHEM 1 Family Condo All Sales

3 0 3

BRIDGEWATER 1 Family Condo All Sales

CANAAN 1 Family Condo All Sales

COLEBROOK 1 Family Condo All Sales

1 0 1

CORNWALL 1 Family Condo All Sales

GOSHEN 1 Family Condo All Sales

HARWINTON 1 Family Condo All Sales

2 0 6

KENT 1 Family Condo All Sales

3 1 4

LITCHFIELD 1 Family Condo All Sales

MORRIS 1 Family Condo All Sales

-83.33% N/A -66.67%

N/A N/A N/A

N/A N/A N/A

N/A $236,000 N/A N/A N/A $222,000

N/A - 100.00% N/A N/A $160,000 -27.93%

N/A -100.00% $207,450 N/A N/A N/A N/A -100.00% $173,000

$225,000 8.46% $113,500 N/A $125,000 -27.75%

NEW HARTFORD 1 Family Condo All Sales

7 0 7

NEW MILFORD 1 Family Condo All Sales

2 4 6 3 2

$277,500 $145,000 $230,500

-7.35% 5.45% -18.12%

$282,500 $109,000 $225,000

$270,000 $125,000 $225,000

-4.42% 14.68% 0.00%

NORFOLK 1 Family Condo All Sales

1 0 2

0 -100.00% 0 N/A 2 0.00%

24 | THE COMMERCIAL RECORD | JULY 2016

N/A N/A N/A

N/A N/A N/A

N/A $340,000 N/A N/A N/A $224,500

$196,500 -42.21% N/A N/A $196,500 -12.47%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES APR 2015

APR %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

APR 2015

APR %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

NORTH CANAAN 1 Family

2

6

Condo

0

0

4

10

All Sales

200.00%

8

14

0

0

150.00%

15

25

66.67%

$270,000

$85,000

-68.52%

$155,000

$158,800

2.45%

83.33%

25

31

24.00%

$169,000

$165,000

-2.37%

$161,000

$165,000

2.48%

0

5

N/A

75.00% N/A

N/A N/A

$140,000 N/A

N/A $143,906 N/A

N/A

$159,400 N/A

10.77% N/A

PLYMOUTH 1 Family

6

11

Condo

0

1

1 1

15

36.36%

40

50

25.00%

1 Family

2

1

-50.00%

8

12

50.00%

Condo

0

0

0

0

4

3

-25.00%

17

20

All Sales

N/A

N/A

N/A $193,000

N/A $159,000

N/A -17.62%

N/A

$97,900

N/A

$155,000

$153,500

-0.97%

$475,000

55.74%

ROXBURY

All Sales

N/A

N/A 17.65%

N/A

N/A

N/A $305,000

N/A

N/A

N/A

$228,750

$99,000

-56.72%

N/A $232,500

N/A $419,500

N/A 80.43%

SALISBURY 1 Family

1

2

100.00%

14

11

-21.43%

N/A

N/A

N/A $418,500

Condo

1

0 -100.00%

1

0

-100.00%

N/A

N/A

N/A

All Sales

3

3

0.00%

23

14

-39.13%

$475,000

1 Family

7

3

-57.14%

21

15

-28.57%

$284,000

Condo

0

1

0

1

9

10

11.11%

32

24

-20.00%

18 3

$1,140,000 140.00%

N/A

$345,000 -17.56% N/A

N/A

$337,000

$377,500

12.02%

$580,000

$305,000 -47.41%

SHARON

All Sales

N/A

N/A

$160,000

N/A

N/A

-43.66% N/A

N/A

N/A

N/A

-25.00%

$300,000

$81,250

-72.92%

$325,200

$263,500 -18.97%

16

-11.11%

$183,750

$200,000

8.84%

$222,500

$221,250

6

100.00%

26

26

0.00%

$207,875

$180,500

-13.17%

$206,350

$180,500 -12.53%

THOMASTON 1 Family

5

4

Condo

0

3

8

8

All Sales

N/A 0.00%

N/A

$95,000

N/A $105,000

-0.56%

$82,500 -21.43%

TORRINGTON 1 Family

2 4

44

83.33%

94

140

48.94%

$123,000

$126,000

2.44%

$117,000

$127,950

9.36%

Condo

3

6

100.00%

20

28

40.00%

$90,000

$91,500

1.67%

$81,500

$77,500

-4.91%

2 8

58

107.14%

128

210

64.06%

$116,500

$120,500

3.43%

$112,675

$119,500

6.06%

1 Family

0

4

N/A

5

11

120.00%

Condo

0

0

N/A

0

0

0

5

N/A

8

15

20

13

-35.00%

2

0

-100.00%

35

14

-60.00%

$388,750 $156,250

All Sales

WARREN

All Sales

N/A 87.50%

N/A N/A N/A

$503,750 N/A $737,500

N/A $265,000 N/A

N/A

N/A $245,000

$560,000 111.32% N/A $270,000

N/A 10.20%

WASHINGTON 1 Family

7

1

Condo

0

0

1 2

1

All Sales

-85.71% N/A -91.67%

$400,000

N/A -100.00%

N/A

N/A

N/A

N/A -100.00%

$723,000 N/A

$420,000 -41.91% N/A

N/A

$550,000

$397,500 -27.73%

$174,900

$181,500

WATERTOWN 1 Family

2 0

24

20.00%

75

82

9.33%

Condo

1

2

100.00%

10

9

-10.00%

2 9

32

10.34%

105

113

7.62%

$157,500

$165,000

4.76%

$165,000

$175,000

$120,000

$160,000

33.33%

$124,000

$132,500

6.85%

$47,450

$62,000

30.66%

All Sales

$165,500

N/A

N/A

5.92%

N/A $161,250

3.77%

$140,000 -13.18% 6.06%

WINCHESTER 1 Family

9

3

-66.67%

29

38

31.03%

Condo

1

1

0.00%

4

6

50.00%

1 2

4

-66.67%

40

59

47.50%

$96,750

$107,000

10.59%

$111,000

$110,000

-0.90%

$348,500

$439,500

26.11%

$256,500

$319,250

24.46%

N/A $120,000

$129,500

7.92%

All Sales

N/A

N/A

N/A

WOODBURY 1 Family

1 2

8

-33.33%

28

30

7.14%

Condo

2

1

-50.00%

17

9

-47.06%

1 9

10

-47.37%

56

53

-5.36%

$295,000

$427,000

All Sales

N/A

N/A

44.75%

$235,250

$285,000

21.15% -4.87%

LITCHFIELD COUNTY 1 Family

1 52

179

17.76%

566

661

16.78%

$234,000

$212,000

-9.40%

$215,500

$205,000

Condo

1 6

25

56.25%

92

99

7.61%

$135,000

$100,000

-25.93%

$100,000

$105,000

5.00%

2 18

260

19.27%

857

1,008

17.62%

$225,000

$196,250

-12.78%

$189,000

$179,000

-5.29%

All Sales

JULY 2016 | THE COMMERCIAL RECORD | 25

TRENDLINES

MIDDLESEX COUNTY SALES REPORT

NUMBER OF SALES MAY 2015

MAY %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

CHESTER 1 Family Condo All Sales

6 0 7

3 0 4

-50.00% N/A -42.86%

18 1 21

18 0 20

0.00% -100.00% -4.76%

$332,500 N/A $320,000

$350,000 5.26% $320,625 N/A N/A N/A $260,000 -18.75% $308,000

$243,500 -24.05% N/A N/A $222,000 -27.92%

1 0 0 1 4

21 4 28

110.00% N/A 100.00%

54 6 70

70 10 95

29.63% 66.67% 35.71%

$278,500 N/A $278,500

$300,000 $160,500 $269,909

7.72% $240,000 N/A $130,250 -3.08% $236,500

$269,909 $150,750 $248,000

12.46% 15.74% 4.86%

12 14 27

20.00% 75.00% 35.00%

28 38 84

45 51 109

60.71% 34.21% 29.76%

$226,175 $115,250 $168,500

$316,500 $122,500 $178,000

39.94% 6.29% 5.64%

$255,000 $125,000 $167,000

8.51% -8.59% -4.30%

3 0 3

4 1 6

33.33% N/A 100.00%

13 2 17

26 4 34

100.00% 100.00% 100.00%

$295,000 N/A $295,000

$208,200 -29.42% $245,000 N/A N/A N/A $208,200 -29.42% $245,000

$233,750 $132,300 $227,250

-4.59% N/A -7.24%

1 1 3

7 600.00% 0 -100.00% 9 200.00%

8 2 15

26 3 31

225.00% 50.00% 106.67%

N/A N/A $220,000

$243,000 N/A $385,000 N/A N/A N/A $185,567 -15.65% $265,000

$239,000 -37.92% $99,900 N/A $200,000 -24.53%

CLINTON 1 Family Condo All Sales

CROMWELL 1 Family Condo All Sales

1 0 8 2 0

$235,000 $136,750 $174,500

DEEP RIVER 1 Family Condo All Sales

DURHAM 1 Family Condo All Sales

EAST HADDAM 1 Family Condo All Sales

9 2 1 3

8 1 11

-11.11% -50.00% -15.38%

32 4 45

28 2 39

-12.50% -50.00% -13.33%

$208,500 N/A $185,300

$267,450 28.27% $232,500 N/A N/A $136,000 $230,000 24.12% $215,000

$238,950 2.77% N/A - 100.00% $223,000 3.72%

1 4 2 1 7

5 2 10

-64.29% 0.00% -41.18%

47 8 59

52 3 69

10.64% -62.50% 16.95%

$222,000 N/A $190,000

$168,000 -24.32% $245,400 N/A N/A $119,000 $224,350 18.08% $230,000

$238,250 $190,000 $239,000

4 1 6

6 4 10

50.00% 300.00% 66.67%

18 2 28

31 10 47

72.22% 400.00% 67.86%

$280,000 N/A $254,950

$376,500 $246,250 $285,004

34.46% $418,250 N/A N/A 11.79% $374,700

$313,000 -25.16% $197,250 N/A $280,000 -25.27%

4 0 7

13 0 14

225.00% N/A 100.00%

24 0 38

51 0 57

112.50% N/A 50.00%

$304,750 N/A $252,500

$230,000 -24.53% $259,250 N/A N/A N/A $220,000 -12.87% $245,000

$232,500 -10.32% N/A N/A $222,040 -9.37%

10 0 11

0.00% N/A -8.33%

23 0 28

34 0 37

3 1 4

N/A N/A 300.00%

12 1 17

11 3 18

-8.33% 200.00% 5.88%

20.69% 100.00% 46.15%

97 30 146

102 52 189

5.15% 73.33% 29.45%

11 -35.29% 0 -100.00% 17 -19.05%

59 3 73

35 8 66

-40.68% 166.67% -9.59%

12 2 17

29 6 42

35 8 59

20.69% 33.33% 40.48%

EAST HAMPTON 1 Family Condo All Sales

-2.91% 59.66% 3.91%

ESSEX 1 Family Condo All Sales

HADDAM 1 Family Condo All Sales

KILLINGWORTH 1 Family Condo All Sales

1 0 0 1 2

47.83% $535,000 $327,500 N/A 32.14% $367,500 $370,000

-38.79% $340,000 $296,000 -12.94% N/A N/A 0.68% $352,500 $305,000 -13.48%

MIDDLEFIELD 1 Family Condo All Sales

0 0 1

N/A N/A N/A

$310,000 N/A $250,000

N/A $224,000 N/A N/A N/A $213,000

$263,000 $182,000 $233,750

17.41% N/A 9.74%

$208,500 $101,000 $165,000

10.90% -9.01% -1.55%

MIDDLETOWN 1 Family Condo All Sales

2 9 5 3 9

35 10 57

$185,000 $135,000 $182,500

$244,000 $99,000 $193,000

31.89% -26.67% 5.75%

$188,000 $111,000 $167,600

$377,000 N/A $377,000

$358,000 -5.04% $355,000 N/A N/A $385,000 $275,000 -27.06% $330,000

$330,000 -7.04% $347,354 -9.78% $290,000 -12.12%

$222,000 $162,500 $190,000

$229,000 3.15% N/A -100.00% $229,000 20.53%

$227,400 $200,000 $213,200

OLD SAYBROOK 1 Family Condo All Sales

1 7 1 2 1

PORTLAND 1 Family Condo All Sales

7 3 1 2

71.43% -33.33% 41.67%

26 | THE COMMERCIAL RECORD | JULY 2016

$182,000 $159,500 $169,700

24.95% 25.39% 25.63%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

WESTBROOK 1 Family Condo All Sales

0 0 3

7 1 13

N/A N/A 333.33%

1 0 8

23 2200.00% 2 N/A 40 400.00%

N/A N/A $5,000

$276,000 N/A N/A N/A $255,500 5010.00%

N/A N/A $3,500

$295,000 N/A N/A N/A $264,500 7457.14%

MIDDLESEX COUNTY 1 Family Condo All Sales

1 24 2 3 1 78

157 40 238

26.61% 73.91% 33.71%

463 103 691

587 156 910

26.78% 51.46% 31.69%

$268,000 $135,000 $229,500

$263,300 $141,000 $240,000

-1.75% 4.44% 4.58%

$249,500 $125,000 $229,000

$253,000 $129,950 $224,500

1.40% 3.96% -1.97%

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JULY 2016 | THE COMMERCIAL RECORD | 27

TRENDLINES

NEW HAVEN COUNTY SALES REPORT

NUMBER OF SALES MAY 2015

MAY %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

40 0 63

56 2 87

40.00% N/A 38.10%

$138,500 N/A $126,550

$200,000 44.40% $168,000 N/A N/A N/A $184,900 46.11% $160,550

$169,450 0.86% N/A N/A $160,000 -0.34%

$235,000 N/A $235,000

N/A -100.00% $225,000 N/A N/A $251,000 $175,000 -25.53% $225,000

$202,500 -10.00% $308,699 22.99% $202,500 -10.00%

ANSONIA 1 Family Condo All Sales

8 0 1 4

11 1 19

37.50% N/A 35.71%

BEACON FALLS 1 Family Condo All Sales

4 1 7

2 -50.00% 0 -100.00% 3 -57.14%

15 5 27

18 5 28

20.00% 0.00% 3.70%

2 0 2

1 0 2

11 0 11

16 0 17

45.45% N/A 54.55%

BETHANY 1 Family Condo All Sales

-50.00% N/A 0.00%

N/A N/A N/A

N/A N/A N/A

N/A $330,000 N/A N/A N/A $330,000

$301,940 -8.50% N/A N/A $288,880 -12.46%

BRANFORD 1 Family Condo All Sales

7 1 3 2 4

14 16 35

100.00% 23.08% 45.83%

65 54 148

82 72 177

26.15% 33.33% 19.59%

$388,000 $115,000 $236,250

$307,500 $154,750 $190,900

-20.75% 34.57% -19.20%

$320,000 $145,750 $265,500

$306,443 -4.24% $149,250 2.40% $210,000 -20.90%

2 5 6 3 2

19 12 36

-24.00% 100.00% 12.50%

97 24 133

83 27 127

-14.43% 12.50% -4.51%

$322,500 $162,150 $312,500

$339,900 $173,950 $245,000

5.40% 7.28% -21.60%

$317,000 $158,400 $277,500

$288,000 $180,000 $269,500

-9.15% 13.64% -2.88%

8 3 1 2

6 3 16

-25.00% 0.00% 33.33%

29 15 52

31 15 74

6.90% 0.00% 42.31%

$159,500 $132,000 $159,500

$142,500 $136,500 $138,250

-10.66% 3.41% -13.32%

$150,000 $120,000 $130,000

$160,400 $116,000 $140,000

6.93% -3.33% 7.69%

24 6 32

41.18% -14.29% 18.52%

85 23 122

105 32 157

23.53% 39.13% 28.69%

$150,300 $119,700 $130,000

$191,250 $96,500 $189,000

27.25% -19.38% 45.38%

$174,000 $158,000 $171,250

$173,000 -0.57% $117,500 -25.63% $170,000 -0.73%

1 8 4 2 5

18 4 26

0.00% 0.00% 4.00%

71 13 101

90 12 119

26.76% -7.69% 17.82%

$321,000 $234,250 $309,000

$312,250 $135,500 $305,000

-2.73% -42.16% -1.29%

$350,000 $235,000 $342,000

$313,750 -10.36% $107,454 -54.27% $302,500 -11.55%

2 6 9 4 3

61 6 78

134.62% -33.33% 81.40%

140 41 209

173 36 244

23.57% -12.20% 16.75%

$176,500 $150,000 $167,000

$210,000 $121,800 $202,500

18.98% -18.80% 21.26%

$180,000 $122,000 $168,000

$185,000 2.78% $109,000 -10.66% $177,500 5.65%

1 6 4 2 2

27 2 35

68.75% -50.00% 59.09%

72 5 84

100 11 124

38.89% 120.00% 47.62%

$434,000 $450,000 3.69% $241,000 -100.00% $380,500 $429,750 12.94%

$393,000 $245,000 $384,250

$408,250 $245,000 $375,000

3 4 9 5 6

44 12 68

29.41% 33.33% 21.43%

126 32 215

194 63 325

53.97% 96.88% 51.16%

$156,500 $104,000 $140,000

$148,600 $133,750 $140,000

$150,000 $97,250 $126,000

$134,375 -10.42% $83,325 -14.32% $123,500 -1.98%

6 0 9

5 3 13

-16.67% N/A 44.44%

22 4 40

25 6 48

13.64% 50.00% 20.00%

$317,500 N/A $320,000

$210,000 $315,000 $280,500

-33.86% $304,000 N/A $289,500 -12.34% $304,000

$298,000 $450,000 $299,000

3 9 9 5 5

59 17 87

51.28% 88.89% 58.18%

141 58 232

209 65 320

48.23% 12.07% 37.93%

$235,000 $156,000 $230,000

$273,500 $138,000 $265,000

16.38% -11.54% 15.22%

$246,000 $179,000 $234,950

$275,000 11.79% $157,500 -12.01% $259,000 10.24%

37 5 49

42.31% 66.67% 53.13%

98 20 140

113 18 163

15.31% -10.00% 16.43%

$147,250 $98,000 $139,450

$168,000 $55,000 $156,000

14.09% -43.88% 11.87%

$150,000 $80,000 $134,950

$158,000 5.33% $63,000 -21.25% $145,000 7.45%

CHESHIRE 1 Family Condo All Sales

DERBY 1 Family Condo All Sales

EAST HAVEN 1 Family Condo All Sales

1 7 7 2 7

GUILFORD 1 Family Condo All Sales

HAMDEN 1 Family Condo All Sales

MADISON 1 Family Condo All Sales

3.88% 0.00% -2.41%

MERIDEN 1 Family Condo All Sales

-5.05% 28.61% 0.00%

MIDDLEBURY 1 Family Condo All Sales

-1.97% 55.44% -1.64%

MILFORD 1 Family Condo All Sales

NAUGATUCK 1 Family Condo All Sales

2 6 3 3 2

28 | THE COMMERCIAL RECORD | JULY 2016

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES MAY 2015

MAY %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

NEW HAVEN 1 Family Condo All Sales

2 9 2 0 8 0

26 14 75

-10.34% -30.00% -6.25%

110 57 311

124 48 363

12.73% -15.79% 16.72%

$229,900 $122,750 $168,750

$177,500 $114,500 $140,000

-22.79% -6.72% -17.04%

$160,000 $112,512 $147,000

$159,950 $112,250 $150,000

-0.03% -0.23% 2.04%

7 3 13

0.00% 50.00% 18.18%

24 5 33

42 14 61

75.00% 180.00% 84.85%

$275,000 N/A $238,000

$245,000 $138,000 $215,000

-10.91% $270,000 N/A $176,500 -9.66% $240,000

2 6 2 2 8

26 3 36

0.00% 50.00% 28.57%

73 6 90

95 11 131

30.14% 83.33% 45.56%

$272,500 N/A $272,500

$259,000 $233,000 $255,000

-4.95% $260,000 N/A $249,150 -6.42% $262,425

7 0 1 1

14 1 18

100.00% N/A 63.64%

37 2 49

52 1 67

40.54% -50.00% 36.73%

$324,000 N/A $330,000

$357,000 10.19% $324,000 N/A N/A N/A $357,000 8.18% $330,000

$330,000 1.85% N/A N/A $355,000 7.58%

6 3 1 3

12 4 18

100.00% 33.33% 38.46%

22 8 48

41 10 69

86.36% 25.00% 43.75%

$286,250 $380,530 $300,000

$359,200 $337,500 $346,950

$318,000 $362,500 $343,000

10.13% -4.04% -6.03%

8 3 12

-20.00% 200.00% 9.09%

36 2 47

36 14 55

0.00% 600.00% 17.02%

$257,000 N/A $259,000

$317,550 $403,703 $317,550

$262,500 $401,370 $304,000

4.58% N/A 12.59%

11 5 18

-8.33% 400.00% -10.00%

46 9 71

54 19 91

17.39% 111.11% 28.17%

$238,500 N/A $209,000

$137,000 $101,000 $120,250

-42.56% $216,600 N/A $121,000 -42.46% $206,301

$190,120 -12.23% $92,000 -23.97% $160,000 -22.44%

23 16 42

187.50% -5.88% 55.56%

39 59 111

66 86 169

69.23% 45.76% 52.25%

$404,750 $125,000 $164,900

$300,000 $188,750 $245,950

-25.88% 51.00% 49.15%

$316,250 $119,000 $175,000

$315,000 $124,000 $182,500

-0.40% 4.20% 4.29%

37 14 60

23.33% 55.56% 42.86%

110 41 179

130 40 201

18.18% -2.44% 12.29%

$232,000 $158,000 $228,000

$226,000 $224,500 $225,500

-2.59% 42.09% -1.10%

$236,500 $158,000 $221,000

$225,500 $169,000 $225,000

-4.65% 6.96% 1.81%

52 16 103

10.64% -44.83% -0.96%

202 93 423

253 74 464

25.25% -20.43% 9.69%

$83,000 $37,000 $63,500

$107,450 $48,300 $82,500

29.46% 30.54% 29.92%

$96,700 $43,000 $75,500

$94,000 $50,200 $81,000

-2.79% 16.74% 7.28%

37 6 56

-7.50% 0.00% 7.69%

124 29 193

151 30 237

21.77% 3.45% 22.80%

$137,500 $79,000 $136,950

$125,700 $104,850 $147,500

-8.58% 32.72% 7.70%

$146,963 $76,200 $140,000

$150,000 $97,100 $155,000

2.07% 27.43% 10.71%

17 1 22

88.89% -66.67% 46.67%

49 4 60

55 3 71

12.24% -25.00% 18.33%

$230,000 $299,900 $230,000

$196,900 -14.39% N/A -100.00% $198,450 -13.72%

$189,000 $282,400 $184,500

$196,900 4.18% $157,000 -44.41% $195,000 5.69%

26 0 32

40 0 45

53.85% N/A 40.63%

$376,000 N/A $390,500

$331,000 -11.97% $325,000 N/A N/A N/A $330,500 -15.36% $325,000

$341,500 5.08% N/A N/A $331,000 1.85%

28.78% 1,910 7.45% 609 26.02% 3,224

2,434 714 4,034

27.43% 17.24% 25.12%

$216,750 $115,000 $178,000

$217,000 $138,000 $193,784

$200,000 $125,000 $180,000

NORTH BRANFORD 1 Family Condo All Sales

7 2 1 1

$254,500 -5.74% $155,000 -12.18% $240,000 0.00%

NORTH HAVEN 1 Family Condo All Sales

$257,500 $228,000 $250,000

-0.96% -8.49% -4.73%

ORANGE 1 Family Condo All Sales

OXFORD 1 Family Condo All Sales

25.48% -11.31% 15.65%

$288,750 $377,765 $364,998

PROSPECT 1 Family Condo All Sales

1 0 1 1 1

23.56% $251,000 N/A N/A 22.61% $270,000

SEYMOUR 1 Family Condo All Sales

1 2 1 2 0

SOUTHBURY 1 Family Condo All Sales

8 1 7 2 7

WALLINGFORD 1 Family Condo All Sales

3 0 9 4 2

WATERBURY 1 Family Condo All Sales

4 7 2 9 1 04

WEST HAVEN 1 Family Condo All Sales

4 0 6 5 2

WOLCOTT 1 Family Condo All Sales

9 3 1 5

WOODBRIDGE 1 Family Condo All Sales

9 0 1 0

15 0 16

66.67% N/A 60.00%

NEW HAVEN COUNTY 1 Family Condo All Sales

4 76 1 61 7 84

613 173 988

0.12% 20.00% 8.87%

$203,500 $120,500 $175,000

-1.72% 3.73% 2.86%

JULY 2016 | THE COMMERCIAL RECORD | 29

TRENDLINES

NEW LONDON COUNTY SALES REPORT

NUMBER OF SALES MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

BOZRAH 1 Family Condo All Sales

2 0 2

4 0 6

100.00% N/A 200.00%

10 0 12

10 0 12

0.00% N/A 0.00%

50 7 64

76 6 92

52.00% -14.29% 43.75% 25.86% 0.00% 15.00%

N/A N/A N/A

$169,389 N/A $169,389

N/A $198,500 N/A N/A N/A $222,450

$169,389 -14.67% N/A N/A $169,389 -23.85%

COLCHESTER 1 Family Condo All Sales

1 6 2 1 9

16 0.00% 0 -100.00% 16 -15.79%

$217,000 N/A $217,000

$291,500 34.33% $208,500 N/A N/A $155,000 $291,500 34.33% $206,250

$237,450 $191,500 $230,000

13.88% 23.55% 11.52%

$285,000 $130,000 $289,000

$264,900 -7.05% N/A -100.00% $264,900 -8.34%

$268,000 -6.13% $184,900 -12.58% $264,900 5.54%

EAST LYME 1 Family Condo All Sales

1 2 3 2 1

17 2 23

41.67% -33.33% 9.52%

58 18 100

73 18 115

$285,500 $211,500 $251,000

3 0 3

200.00% N/A 50.00%

6 0 11

7 0 9

16.67% N/A -18.18%

N/A N/A N/A

$215,000 N/A $215,000

N/A $202,000 N/A N/A N/A $190,000

$215,000 6.44% N/A N/A $215,000 13.16%

14 4 26

21 6 43

50.00% 50.00% 65.38%

N/A N/A N/A

$136,500 N/A $136,500

N/A $150,000 N/A $83,450 N/A $114,202

$107,000 -28.67% $99,950 19.77% $100,000 -12.44%

64 31 112

119 13 166

85.94% -58.06% 48.21%

23 0 32

25 0 33

FRANKLIN 1 Family Condo All Sales

1 0 2

GRISWOLD 1 Family Condo All Sales

1 1 2

4 300.00% 0 -100.00% 6 200.00%

GROTON 1 Family Condo All Sales

8 5 1 8

37 3 51

7 0 1 0

2 0 4

362.50% -40.00% 183.33%

$207,500 $219,000 $231,000

$203,000 $124,000 $190,000

-2.17% -43.38% -17.75%

$235,000 $99,000 $176,050

$258,000 N/A $215,000

N/A -100.00% $185,000 N/A N/A N/A $160,250 -25.47% $157,000

$230,000 $127,500 $202,500

-2.13% 28.79% 15.02%

LEBANON 1 Family Condo All Sales

-71.43% N/A -60.00%

8.70% N/A 3.13%

$170,000 -8.11% N/A N/A $155,000 -1.27%

LEDYARD 1 Family Condo All Sales

1 7 3 2 0

21 23.53% 0 -100.00% 25 25.00%

60 5 69

81 4 93

35.00% -20.00% 34.78%

$198,000 $182,000 -8.08% $88,500 -100.00% $191,000 $204,000 6.81%

$191,000 $85,500 $185,500

$203,000 6.28% $42,000 -50.88% $200,000 7.82%

4 0 6

5 0 11

25.00% N/A 83.33%

15 0 24

16 0 27

6.67% N/A 12.50%

$166,500 N/A $157,500

$215,000 29.13% $169,900 N/A N/A N/A $145,000 -7.94% $162,250

$171,400 0.88% N/A N/A $150,000 -7.55%

5 0 7

5 0 7

0.00% N/A 0.00%

9 0 12

10 0 15

11.11% N/A 25.00%

$525,000 N/A $525,000

$499,000 -4.95% $567,500 N/A N/A N/A $469,000 -10.67% $568,750

$360,000 -36.56% N/A N/A $325,000 -42.86%

46 3 60

68 1 86

47.83% -66.67% 43.33%

$177,750 N/A $177,750

$182,500 N/A $178,000

$173,400 5.57% N/A - 100.00% $166,500 5.71%

54 11 107

49 15 114

-9.26% 36.36% 6.54%

$172,000 N/A $177,000

$140,000 $315,000 $140,000

26 0 36

24 0 35

-7.69% N/A -2.78%

$204,400 N/A $204,400

$261,000 27.69% $236,900 N/A N/A N/A $243,000 18.88% $242,450

$236,500 -0.17% N/A N/A $220,000 -9.26%

70 12 114

95 22 156

35.71% 83.33% 36.84%

$120,000 $159,900 $108,750

$120,000 $101,250 $114,000

$128,300 44.56% $95,000 -27.87% $112,000 25.14%

LISBON 1 Family Condo All Sales

LYME 1 Family Condo All Sales

MONTVILLE 1 Family Condo All Sales

1 4 1 1 6

14 0.00% 0 -100.00% 20 25.00%

2.67% $164,250 N/A $46,001 0.14% $157,500

NEW LONDON 1 Family Condo All Sales

1 3 1 2 2

11 3 19

-15.38% 200.00% -13.64%

-18.60% $147,500 N/A $110,000 -20.90% $137,000

$137,000 $149,000 $124,750

-7.12% 35.45% -8.94%

NORTH STONINGTON 1 Family Condo All Sales

8 0 1 2

6 0 11

-25.00% N/A -8.33%

2 1 3 4 0

15 10 33

-28.57% 233.33% -17.50%

NORWICH 1 Family Condo All Sales

30 | THE COMMERCIAL RECORD | JULY 2016

0.00% -36.68% 4.83%

$88,750 $131,704 $89,500

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NUMBER OF SALES MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

MAY 2015

$446,000

MAY %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

OLD LYME 1 Family

1 4

9

-35.71%

37

28

-24.32%

Condo

1

0 -100.00%

3

1

-66.67%

All Sales

N/A

$438,000 N/A

-1.79%

$455,000

N/A $410,000

$335,000 -26.37% N/A -100.00%

2 3

13

-43.48%

57

37

-35.09%

$314,000

$438,000

39.49%

$410,000

$340,000 -17.07%

1 Family

6

8

33.33%

20

21

5.00%

$174,500

$237,600

36.16%

$197,450

$210,000

Condo

0

0

0

0

7

11

57.14%

27

29

7.41%

1 Family

2

4

100.00%

12

12

0.00%

N/A

Condo

1

0 -100.00%

2

2

0.00%

N/A

PRESTON

All Sales

N/A

N/A

N/A $148,000

N/A $230,000

N/A 55.41%

N/A

N/A

6.36% N/A

$200,000

$199,000

-0.50%

N/A $288,500

$269,000

-6.76%

SALEM

All Sales

3

4

33.33%

20

16

-20.00%

1 Family

1

3

200.00%

6

12

100.00%

Condo

0

0

0

0

3

3

0.00%

9

14

14

-26.32%

66

0 -100.00%

11

$282,000

$229,000 N/A $229,000

N/A -18.79%

N/A $267,500

N/A

N/A

$169,000 -36.82%

SPRAGUE

All Sales

N/A

N/A

N/A N/A

$190,000 N/A

N/A $163,500 N/A

N/A

$169,500 N/A

3.67% N/A

55.56%

$220,900

$190,000

-13.99%

$202,000

$169,500 -16.09%

64

-3.03%

$279,000

$302,500

8.42%

$271,500

$299,200

6

-45.45%

STONINGTON 1 Family

1 9

Condo

2

All Sales

2 6

28

7.69%

94

120

27.66%

600.00%

7

18

157.14%

0

0

N/A $300,750

N/A $254,000

N/A $440,000 -15.54%

$284,950

10.20%

$330,000 -25.00% $262,500

-7.88%

VOLUNTOWN 1 Family

1

7

Condo

0

0

1

7

600.00%

7

20

185.71%

All Sales

N/A

N/A

N/A N/A N/A

$171,000 N/A $171,000

N/A $202,000 N/A

N/A

N/A $202,000

$168,000 -16.83% N/A

N/A

$157,500 -22.03%

WATERFORD 1 Family

2 1

33

57.14%

81

111

37.04%

$264,900

$216,000

-18.46%

$205,000

$212,000

3.41%

Condo

3

3

0.00%

17

17

0.00%

$162,000

$150,000

-7.41%

$110,000

$132,000

20.00%

2 7

39

44.44%

113

143

26.55%

$243,700

$215,000

-11.78%

$180,000

$188,500

4.72%

All Sales

NEW LONDON COUNTY 1 Family

1 93

238

23.32%

734

940

28.07%

$225,000

$219,450

-2.47%

$209,000

$200,000

-4.31%

Condo

2 6

21

-19.23%

124

111

-10.48%

$176,600

$135,000

-23.56%

$135,000

$125,000

-7.41%

2 87

340

18.47% 1,106

1,375

24.32%

$207,000

$199,000

-3.86%

$189,900

$180,000

-5.21%

All Sales

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JULY 2016 | THE COMMERCIAL RECORD | 31

TRENDLINES

TOLLAND COUNTY SALES REPORT

NUMBER OF SALES

MEDIAN PRICE

MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 YTD

%CHG 15-16

MAY 2015

0 0 0

9 0 10

N/A N/A N/A

10 0 14

17 0 22

1 0 2

7 0 8

600.00% N/A 300.00%

18 0 21

19 0 21

5.56% N/A 0.00%

N/A N/A N/A

5 0 7

-37.50% N/A -12.50%

22 0 26

20 0 23

-9.09% N/A -11.54%

11 2 17

22.22% 100.00% 21.43%

48 3 69

45 6 74

-6.25% 100.00% 7.25%

8 3 1 6

13 2 18

62.50% -33.33% 12.50%

27 5 47

38 9 65

8 0 8

16 0 17

100.00% N/A 112.50%

23 0 29

44 0 49

5 0 8

12 3 19

140.00% N/A 137.50%

28 6 43

42 15 70

4 0 5

12 0 15

200.00% N/A 200.00%

22 0 34

35 4 46

9 2 1 2

14 2 24

55.56% 0.00% 100.00%

38 7 58

41 6 74

1 3 0 1 4

17 1 20

30.77% N/A 42.86%

39 2 48

50 5 64

0 -100.00% 0 N/A 0 -100.00%

4 0 6

1 0 1

55.00% -33.33% 37.50%

70 29 116

84 28 137

20.00% -3.45% 18.10%

3 -40.00% 0 -100.00% 4 -42.86%

18 1 23

11 0 16

-38.89% -100.00% -30.43%

367 53 534

447 73 662

21.80% 37.74% 23.97%

MAY %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

ANDOVER 1 Family Condo All Sales

70.00% N/A N/A N/A 57.14%

$294,500 N/A $275,250

N/A $194,450 N/A N/A N/A $192,000

$256,000 31.65% N/A N/A $243,000 26.56%

$255,000 N/A $224,936

N/A $223,000 N/A N/A N/A $210,000

$255,000 14.35% N/A N/A $245,000 16.67%

$204,000 N/A $204,000

$225,000 10.29% $225,000 N/A N/A N/A $225,000 10.29% $225,000

$186,500 -17.11% N/A N/A $178,000 -20.89%

$235,000 N/A $256,750

$175,000 -25.53% $205,000 N/A N/A $116,600 $175,000 -31.84% $205,000

$175,000 -14.63% $102,550 -12.05% $178,700 -12.83%

40.74% 80.00% 38.30%

$208,500 $113,000 $181,250

$334,000 60.19% N/A -100.00% $321,000 77.10%

$228,700 $115,000 $227,500

91.30% N/A 68.97%

$299,900 N/A $299,900

$284,500 -5.14% $322,000 N/A N/A N/A $262,000 -12.64% $322,000

$246,250 -23.52% N/A N/A $235,000 -27.02%

$228,000 N/A $203,136

$253,250 $188,000 $232,666

$199,450 -11.94% $234,900 72.34% $212,950 1.40%

$195,500 N/A $200,000

$267,500 36.83% $224,950 N/A N/A N/A $290,000 45.00% $235,000

$255,000 $364,950 $269,300

13.36% N/A 14.60%

7.89% -14.29% 27.59%

$166,000 N/A $140,750

$198,000 19.28% $179,700 N/A N/A $99,000 $150,000 6.57% $159,950

$188,000 $126,750 $162,450

4.62% 28.03% 1.56%

28.21% 150.00% 33.33%

$268,000 N/A $263,000

$269,000 N/A $262,000

0.37% $268,000 N/A N/A -0.38% $232,000

$243,500 $80,000 $232,750

-9.14% N/A 0.32%

N/A N/A N/A

N/A N/A N/A

N/A $134,500 N/A N/A N/A $134,500

BOLTON 1 Family Condo All Sales

COLUMBIA 1 Family Condo All Sales

8 0 8

COVENTRY 1 Family Condo All Sales

9 1 1 4

ELLINGTON 1 Family Condo All Sales

$207,000 $116,000 $219,900

10.48% -0.86% 3.46%

HEBRON 1 Family Condo All Sales

MANSFIELD 1 Family Condo All Sales

50.00% 150.00% 62.79%

11.07% $226,500 N/A $136,300 14.54% $210,000

SOMERS 1 Family Condo All Sales

59.09% N/A 35.29%

STAFFORD 1 Family Condo All Sales

TOLLAND 1 Family Condo All Sales

UNION 1 Family Condo All Sales

1 0 1

-75.00% N/A -83.33%

N/A - 100.00% N/A N/A N/A - 100.00%

VERNON 1 Family Condo All Sales

2 0 9 3 2

31 6 44

$150,000 $79,000 $139,450

$179,900 19.93% $230,000 191.14% $178,700 28.15%

$161,000 $110,000 $148,700

$168,500 $104,658 $156,000

4.66% -4.86% 4.91%

$215,000 N/A $215,000

$160,000 -25.58% $225,500 N/A N/A N/A $177,250 -17.56% $225,000

$170,000 -24.61% N/A N/A $194,750 -13.44%

$200,000 $112,750 $191,000

$229,950 $144,250 $224,000

$205,000 $127,000 $194,950

WILLINGTON 1 Family Condo All Sales

5 1 7

TOLLAND COUNTY 1 Family Condo All Sales

9 1 1 6 1 27

150 16 203

64.84% 0.00% 59.84%

32 | THE COMMERCIAL RECORD | JULY 2016

14.98% 27.94% 17.28%

$207,000 $112,700 $199,450

-0.97% 12.69% -2.26%

TRENDLINES

WINDHAM COUNTY SALES REPORT

NUMBER OF SALES MAY 2015

MAY %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

MAY 2015

MAY %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

ASHFORD 1 Family Condo All Sales

3 0 4

3 0 3

0.00% N/A -25.00%

11 0 16

17 0 22

54.55% N/A 37.50%

$216,000 N/A $183,000

$265,900 23.10% $167,000 N/A N/A N/A $265,900 45.30% $163,500

$195,000 16.77% N/A N/A $171,000 4.59%

14 0 22

100.00% N/A 175.00%

35 0 43

46 1 62

31.43% N/A 44.19%

$180,000 N/A $177,450

$177,500 N/A $167,500

-1.39% $175,000 N/A N/A -5.61% $163,000

$178,000 1.71% N/A N/A $175,450 7.64%

2 0 2

6 0 8

200.00% N/A 300.00%

16 0 20

18 0 27

12.50% N/A 35.00%

N/A N/A N/A

$225,000 N/A $218,900

N/A $168,500 N/A N/A N/A $166,000

$218,400 29.61% N/A N/A $200,000 20.48%

3 0 4

1 0 1

-66.67% N/A -75.00%

10 0 12

5 0 7

-50.00% N/A -41.67%

$130,000 N/A $104,950

N/A -100.00% $160,000 N/A N/A N/A N/A -100.00% $152,500

$169,900 6.19% N/A N/A $169,900 11.41%

1 0 3

0.00% N/A 50.00%

4 0 7

6 0 13

50.00% N/A 85.71%

N/A N/A N/A

N/A N/A $150,000

N/A $129,950 $205,500 N/A N/A N/A $149,000 $150,000

4 0 6

300.00% N/A 500.00%

3 0 7

8 0 13

166.67% N/A 85.71%

N/A N/A N/A

$195,900 N/A $167,400

N/A $246,000 N/A N/A N/A $55,000

10 3 20

-28.57% 50.00% 0.00%

55 10 87

54 6 89

-1.82% -40.00% 2.30%

$102,500 N/A $113,750

$164,450 $139,000 $158,000

$143,950 N/A $143,700

$113,000 -21.50% $137,950 N/A N/A N/A $113,000 -21.36% $134,775

$120,409 -12.72% N/A N/A $128,500 -4.66%

$166,000 N/A $210,500

$248,000 -22.01% N/A N/A $169,900 -13.54%

BROOKLYN 1 Family Condo All Sales

7 0 8

CANTERBURY 1 Family Condo All Sales

CHAPLIN 1 Family Condo All Sales

EASTFORD 1 Family Condo All Sales

1 0 2

58.14% N/A 0.67%

HAMPTON 1 Family Condo All Sales

1 0 1

$195,900 -20.37% N/A N/A $147,000 167.27%

KILLINGLY 1 Family Condo All Sales

1 4 2 2 0

60.44% $135,000 N/A $129,500 38.90% $134,900

$147,500 $133,000 $141,000

9.26% 2.70% 4.52%

PLAINFIELD 1 Family Condo All Sales

4 0 8

7 0 13

75.00% N/A 62.50%

40 1 68

46 1 66

15.00% 0.00% -2.94%

2 0 2

5 0 8

150.00% N/A 300.00%

11 0 23

15 0 27

36.36% N/A 17.39%

4 0 6

7 5 18

75.00% N/A 200.00%

21 5 42

33 15 71

5 0 5

150.00% N/A 150.00%

7 0 10

9 0 9

2 0 3

0.00% N/A 0.00%

17 1 27

17 0 25

0.00% -100.00% -7.41%

N/A N/A $137,000

N/A N/A $171,400 N/A N/A N/A $31,500 -77.01% $137,000

$180,000 5.02% N/A N/A $92,500 -32.48%

5 0 7

11 0 16

120.00% N/A 128.57%

23 1 39

49 2 65

113.04% 100.00% 66.67%

$179,900 N/A $145,000

$167,000 -7.17% $180,000 N/A N/A N/A $165,000 13.79% $150,000

$168,000 -6.67% N/A N/A $165,150 10.10%

1 2 1 1 8

16 33.33% 0 -100.00% 25 38.89%

43 3 77

50 3 72

16.28% 0.00% -6.49%

$110,750 N/A $103,250

$155,950 40.81% $118,000 N/A N/A $106,500 $152,000 47.22% $109,000

$134,500 $120,000 $121,500

13.98% 12.68% 11.47%

8 2 15

-27.27% 100.00% 15.38%

35 4 49

26 4 52

-25.71% 0.00% 6.12%

$214,000 N/A $210,000

$343,000 60.28% $210,000 N/A N/A $148,450 $155,000 -26.19% $192,000

$235,500 $140,000 $180,000

12.14% -5.69% -6.25%

36.99% 150.00% 66.00%

331 25 527

399 32 620

20.54% 28.00% 17.65%

$150,000 $116,250 $139,950

$169,950 $140,500 $155,500

$159,900 $137,500 $149,006

1.20% 2.19% 6.43%

POMFRET 1 Family Condo All Sales

N/A N/A N/A

N/A $318,000 N/A N/A N/A $196,500

PUTNAM 1 Family Condo All Sales

57.14% 200.00% 69.05%

$127,400 N/A $127,400

$149,000 $177,500 $130,750

16.95% $141,000 N/A $149,900 2.63% $127,500

$145,000 $140,000 $125,000

2.84% -6.60% -1.96%

N/A $132,900 $182,000 N/A N/A N/A $121,950 $182,000

36.95% N/A 49.24%

SCOTLAND 1 Family Condo All Sales

2 0 2

28.57% N/A -10.00%

N/A N/A N/A

$195,000 N/A $195,000

STERLING 1 Family Condo All Sales

2 0 3

THOMPSON 1 Family Condo All Sales

WINDHAM 1 Family Condo All Sales

WOODSTOCK 1 Family Condo All Sales

1 1 1 1 3

WINDHAM COUNTY 1 Family Condo All Sales

7 3 4 1 00

100 10 166

13.30% 20.86% 11.11%

$158,000 $134,549 $140,000

JULY 2016 | THE COMMERCIAL RECORD | 33

FAIRFIELD COUNTY GOSSIP REPORT

1

DARIEN

2

NORWALK

3

GREENWICH

ADDRESS: 195 Rowayton Ave., Norwalk PRICE: $4,825,000 SIZE: 2,867 square feet on 0.9 acres BUYER: 195 Investment LLC SELLER: William Nightingale and Deborah Watson SOLD: 5/11/16

ADDRESS: 137 Five Mile River Road, Darien

ADDRESS: 495 Field Point Road, Greenwich

PRICE: $6,800,000

PRICE: $4,035,000

SIZE: 5,738 square feet on 0.67 acres

SIZE: 4,815 square feet on 0.75 acres

BUYER: Susanoo LLC

BUYER: Erin Dodd and Michael Dodd

SELLER: Robin Brown-Woods and Richard M. Woods

SELLER: G.W. Greer-Nicholson

SOLD: 6/2/16

SOLD: 5/25/16

4

DARIEN

ADDRESS: 47 Pear Tree Point Road, Darien PRICE: $3,467,500 SIZE: 4,114 square feet on 0.78 acres BUYER: Justin Scott

5

SELLER: Ingeborg S. Sandberg and Job B. Sandberg SOLD: 6/2/16

5

NEW CANAAN

3

1 4

ADDRESS: 57 Chichester Road, New Canaan PRICE: $3,425,000 SIZE: 5,858 square feet on 1 acre

2

BUYER: Caitlyn A. Walsh and Luke A. Walsh SELLER: Joseph S. Tracy AGENT: Houlihan Lawrence SOLD: 6/1/16

This month’s list features homes with smaller lot sizes and several that were built in the 19th century, but the home in the number three spot stands out as an excellent example of classic Victorian-era design. The eight-bedroom, five-and-ahalf bathroom home has a wraparound, covered porch, is filled with period details and sits on a 1-acre lot on the Belle Haven peninsula. There are high ceilings, fireplaces, a butler’s pantry, built-in bookshelves and an updated, eat-in kitchen, a master bedroom suite – and it’s all a short walk to the water.

34 | THE COMMERCIAL RECORD | JULY 2016

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