The Commercial Record - October 2017

OCTOBER 2017

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THE

REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT

ISSUE BUILDING UIL

Banks Struggle To Grow Loan Portfolios

Campuses Invest In Buildings To Accommodate Learning Styles

Slowdown In Homebuilding Attributed To Lack Of Demand

OCTOBER 2017 | THE COMMERCIAL RECORD | 1

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inside The Commercial Record’s Building Issue Though it has a few bright spots, Connecticut’s building landscape is suffering in a prolonged economic recovery. As the state loses businesses and residents, home building has stagnated, as has mortgage portfolio growth.

But higher education institutions are creating new spaces on their campus to break down barriers and build tomorrow’s workforce.

5

10

Cap Analysis Lenders move away from percentage-based rate caps and towards a flat fee, regardless of the loan size.

6

Troubled Economy Loan growth is a zero-sum game in Connecticut’s struggling economic recovery. Until population growth returns, banks trade customers without seeing much in return.

10 Hands-On Learning New additions on the campuses of the University of New Haven and UConn Farmington, and a new project in the former Weaver High School in Hartford, aim to accommodate and promote flexible learning styles.

14

14 Construction Crunch

8

Homebuilders blame a slowdown on a number of factors, but primarily a shortage of demand as the state’s population continues to decline.

news roundup

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

6

20 trendlines 34 gossip report

OCTOBER 2017 | THE COMMERCIAL RECORD | 3

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4 | THE COMMERCIAL RECORD | OCTOBER 2017

Guest Column

THE FUTURE OF RATE CAPS SHIFTS TO FLAT FEES

Lenders Pivot Away From Antiquated Basis Points

BY EITAN WEINSTOCK | SPECIAL TO THE COMMERCIAL RECORD

C

ommercial real estate owners looking to hedge interest rate risk are often asked to purchase derivatives and other financial products blindly. Rather than receiving transparency, borrowers are simply handed an invoice that they are forced to pay. Unarmed to properly price hedging products and their service providers, owners overpay for many over-the-counter products.

A primary example is interest rate caps, a product often required on new floating rate mortgages, including bridge and construction loans. Although lenders intend for EITAN WEINSTOCK their borrowers to purchase caps with minimal additional costs, borrowers often pay brokers exorbitant fees for even this standardized product. Although brokers should simply charge flat, minimal fees, more antiquated firms frequently charge percentage points on the loan amount even though each transaction is nearly identical.

Firms such as Rate Cap Advisors (RCA) have shifted the market by charging flat $5,000 fees rather than the antiquated model of charging basis points or percentages based on deal size. In the past, purchasing a $50 million rate cap would cost $18,500 in third-party fees alone. Like Silicon Valley startups, RCA helps commoditize the real estate hedging field, lowering costs for borrowers and lifting the veil off a previously opaque industry.

What Is A Rate Cap? Rate caps are the most common method for protecting against rising interest rates.

Essentially serving as an insurance policy for both the property owner and lender (i.e. it doesn’t help anyone if rates rise to 14 percent and the borrowers default on their loans), rate caps lock in a maximum loan interest rate. Borrowers get to have their cake and eat it too by gaining the security of a maximum interest rate while obtaining the opportunity to benefit from drops in interest rates.

Most rate caps follow identical structures: the lender dictates deal loan amount, strikes rate and term, and the cap simply needs to match these requirements. In the example below, a borrower on a $50 million loan is capping one-month LIBOR at 3 percent over the next three years. Any time LIBOR exceeds 3 percent, the borrower will be reimbursed the difference by the bank providing the cap.

• Rate caps can be purchased for any length of time but are usually taken out for two to five years, with the average being three.

• Strike rates can be purchased at any level but are usually 2.5 to 4.5 percent, with the average being in the 3 percent range.

Rate caps effectively hedge risk for both lender and the borrower against market fluctuations by adding a third-party to the equation. The third-party (the cap provider) guarantees that it will make any interest pay-

ments over the strike rate, protecting both sides from a catastrophic rate rise. Banks can feel confident that payments will never be missed even if interest rates skyrocket.

It also allows the borrower will not have to worry about paying exorbitant interest payments if rates rise.

Why Would You Want A Rate Cap? In most cases, new lenders require borrowers to purchase rate caps in conjunction with new floating rate mortgages. The only question is how to find the lowest rate possible. The old system of rate cap providers hiding behind the “mystery” of caps is ending and borrowers are increasingly realizing that cap costs should be minimized for the future by using more forward-thinking firms.

How Does The Economy Affect Rate Caps?

As interest rates rise, cap costs generally rise as well. The more likely a borrower’s strike rate to be hit, the more expensive the cap becomes. With widespread expectations of continuing Federal Reserve rate hikes and rising interest rates in general, now more than ever borrowers are looking to purchase rate caps in order to purchase at lower costs and simultaneously protect themselves from expected market movements.

Ultimately, understanding rate caps and their costs is one of the most valuable tools for real estate owners. Rate caps are the prudent and efficient way to hedge against increases in interest rates and borrowers are increasingly educating themselves about the importance of working with the most transparent providers available. n Eitan Weinstock is managing director of Rate Cap Advisors (RCA).

OCTOBER 2017 | THE COMMERCIAL RECORD | 5

Troubled Economy

LOAN GROWTH A ZERO-SUM GAME

Harsh Economic Climate Dampens Opportunities

BY BRAM BERKOWITZ | COMMERCIAL RECORD STAFF

W

ith two large corporations heading to Boston, a shrinking population and no state budget for at least the first three months of this fiscal year, all parts of Connecticut’s economy may have trouble generating new growth.

For community banks, the challenge lies in finding new borrowers to expand loan portfolios.

“The biggest thing is a lot of our new business we get, and most community banks are getting, is not new businesses coming in or existing businesses expanding. It’s just businesses leaving one bank

to come to another bank because they are getting offered new services or something like that,” Stephen Lewis, president and CEO of Thomaston Savings Bank, told The Commercial Record. “It’s nice to be funding growth when you have it, but our growth is a zero-sum game.”

Lewis said most of the new business at

6 | THE COMMERCIAL RECORD | OCTOBER 2017

Thomaston comes when the bank lures customers away from larger banks that might be closing branches, or if a bank consolidates or changes its business model, presenting an opportunity for other banks to attract new customers.

Despite the economic turmoil and political issues, banks in Connecticut have seen loan growth.

Banks in Connecticut collectively grew net loans from $73.8 billion at the end of June 2016 to $78.9 billion at the end of June this year, according to the FDIC. But Peter Gioia, vice president and economist for the Connecticut Business and Industry Association, said he sees ma-

jor banks in Connecticut doing more lending in Massachusetts and New York than Connecticut.

Which isn’t surprising, he said; Connecticut has recovered only 80 percent of jobs the state lost during and since the recession, whereas Massachusetts has added three times more jobs than it lost.

The Signs Are There Several key factors come together this year to presage difficulties for community banks looking for available borrowers in the future.

“For residential real estate to grow, you need demand,” Lewis said. “We don’t have a lot of demand. Towns are not growing.”

Connecticut’s population has declined over the last three years.

Building permits issued by 104 communities surveyed in the state at the end of July this year were just below 1,950. Permits for the year are projected to come up short of 2016’s numbers, when those same communities issued about 4,100 building permits, according to the Department of Economic and Community Development.

“Retirees are leaving because state taxes are too high,” Lewis said. “Retirees are looking to go southwest and to Florida. They will spend six months and one day [down south] solely driven by the tax situation.”

According to a recent WalletHub study, Hartford, New Haven, Bridgeport and Waterbury were among the the top 10 worst real estate markets in the country.

Bridgeport and Waterbury had some of the highest percentages of homes with negative equity in the country, while Waterbury was among cities with the lowest median home-price appreciation, according to the study.

The loss of General Electric and now Aetna have not improved the situation.

Hundreds of employees potentially moving means hundreds of homes potentially on the market.

Lewis said the loss of those two companies also hurts the state’s reputation and makes it hard to attract other new companies, which Connecticut desperately needs to create new jobs.

“

For residential real estate to grow, you need demand. We don’t have a lot of demand.

Towns are not growing.”

— Stephen Lewis, president and CEO, Thomaston Savings Bank

Unemployment in the state, at 4.8 percent in August, is above the national average.

Potential For Change Lewis said there is certainly potential for new growth, pointing out that Connecticut still has an attractive school system, a strong educative workforce and a good location on the coast.

But he said that the state government needs to pass a budget and solve some of its fundamental issues – like its eroding tax base – to prove to residents and companies that the state is moving in the right direction.

“On the commercial side, people are hesitant to build or reinvest in business, and on the residential side people, are

unable to sell their homes and are unwilling to buy and trade up because they are nervous about the residential market,” Lewis said.

Gioia said Home construction is weak, there’s hardly any new office space and not enough apartments, which older residents are downsizing to and younger residents, saddled with student debt, prefer over single-family houses.

All of this, he said, has challenged credit and lending departments across the state.

“Banks are aggressively trying to lend,” Gioia said. “The banks are really seeking out people.” n Email: bberkowitz@thewarrengroup.com

OCTOBER 2017 | THE COMMERCIAL RECORD | 7

NEWS ROUNDUP STAMFORD OFFICE BUILDINGS SELL FOR NEARLY $7.6M

SURVEY: US MOBILE BANKERS PLEASED WITH BANK APPS

A local development and investment firm recently purchased three office buildings in Stamford totaling 52,000 square feet.

Kolich Holdings LLC purchased the buildings at 992 and 100 High Ridge Road and 1 Bank St. for $7,571,814.

The office buildings at 992 and 1011 High Ridge Road contain 12,500 and 24,500 square feet, respectively, and sit almost directly across from each other. Kolich plans to make substantial improvements to interior common areas, overhaul exterior facades, renovate parking lots and make landscape enhancements. Located in downtown Stamford, 1 Bank St. is a mixed-use building of 15,000 square feet. The renovated building is intended to attract office tenants utilizing space from 700to-5,000 square feet. The name of the seller, who owned all three properties, was not disclosed.

The sale was orchestrated by Enzennio Mallozzi, managing director of Colliers International’s Stamford office.

Banks may not be perfect, but one product they seemed to have nailed down is the mobile application.

A new survey conducted by Morning Consult for the American Bankers Association shows 87 percent of U.S. mobile banking users say their bank’s mobile app is “excellent,” “very good” or “good.”

According to the survey, 71 percent of Americans use a mobile device to manage their bank account at least monthly, and 50 percent do so more than three times per month.

Nearly half of consumers said in the survey they used their mobile device to cash a check in the past year, and 62 percent of those who have used it report using their banking app at least once a month.

ELECTRONIC PARTS DISTRIBUTOR ANNOUNCES OLD SAYBROOK HQ An electronic parts distributor recently inked a three-year lease in Old Saybrook for its corporate headquarters.

ALL-TEST Pro LLC will occupy the 5,084 square-foot property at 20 Research Parkway. The new offices will also be used for sales, distribution and electronics testing.

The multitenant flex building is located in The Old Saybrook Business Park, an eightbuilding office park set on 45 acres.

The landlord is Mill Meadow Development LLC. Kevin Geenty of The Geenty Group was the sole agent in the transaction.

EAST GRANBY INDUSTRIAL COMPLEX SOLD FOR NEARLY $3.9M A multitenant industrial complex in East Granby has sold for just under $3.89 million.

The buyer, 29 Kripes Road Assoc. LLC, purchased 25-27 and 29 Kripes Road in from Airport Business Center III LP. The 65,691-square-foot complex on 8.34 acres is part of Airport Business Center, a five-building industrial park developed by the seller that began in 1984.

Sentry Commercial was the sole broker in the transaction.

THE MOST VIEWED ARTICLES IN SEPTEMBER • • • • •

Real Estate Agent Hit And Killed By Train In Connecticut Katharine Hepburn’s Connecticut Home Sold For $11.5M Real Estate Developer Admits To Defrauding Investors Defunct Woodbury Restaurant Purchased, To Be Rebranded Webster Financial Corp. Announces CEO Secession Plan

8 | THE COMMERCIAL RECORD | OCTOBER 2017

• • • • •

Alexion Pharmaceuticals Moving HQ From New Haven To Boston Equifax Announces Security Breach CT Realtors Oppose Increase In Real Estate Conveyancing Tax Savings Bank Of Danbury Plans Expansion Stamford Office Buildings Sell For Nearly $7.6M

EVENTS SURVEY: MILLENNIALS ANXIOUS ABOUT DOWN PAYMENTS

BANKWORLD The Warren Group Jan. 12, 2018 1 Mohegan Sun Blvd., Uncasville, CT 06382 Who should attend: Banking and mortgage professionals More information: www.thewarrengroupevents.com/bankworld

ALEXION PHARMACEUTICALS MOVING HQ FROM NEW HAVEN TO BOSTON

Anxiety about having enough money for a down payment is one of the factors keeping Millennial renters from buying a home, according to a new national survey by LoanDepot cited in the September 2017 Down Payment Report.

Some 63 percent of young renters participating in the survey said that they are concerned about having enough money for a down payment. Millennials are unsure how much they need to put down, with the average coming out to 32 percent while the industry standard is typically a 20 percent down payment.

“It’s clear from the survey results that Millennials have a lot of anxiety built up about the homebuying process,” David Norris, LoanDepot’s head of retail lending, said in a statement. “There is good news, however, as there’s more flexibility than most Millennials think regarding how to qualify for a loan and what’s needed for a down payment.”

Of those surveyed, 49 percent currently have a home mortgage, yet just 27 percent said they felt knowledgeable about the home purchase process when they began. For those who’ve already made the jump to homeownership, they wished they’d known more about interest rates (55 percent), types of loans available (47 percent) and how the pre-approval process worked and what down payment they’d need (45 percent each) before setting out.

Alexion Pharmaceuticals will move its headquarters from New Haven to Boston in mid-2018, bringing 400 corporate and research jobs and filling the remaining office and lab space in a speculative tower scheduled to open early next year in Boston’s Seaport District.

The announcement comes just 18 months after Alexion cut the ribbon on a brand-new headquarters in downtown New Haven. Alexion said it will retain approximately 450 jobs in New Haven in its R&D, clinical supply and quality teams, nurse case management and enterprise business services.

The rare disease specialist will occupy 150,000 square feet on seven floors on the lower levels of 121 Seaport, according to a source. The 17-story tower is being developed by Skanska.

Newmark Knight Frank represented Skanska as the developer and owner of the project, and Cushman & Wakefield represented Alexion.

As part of a restructuring plan, Alexion will cut 20 percent of its global workforce to save $250 million annually. It will shut its manufacturing facility in Smithfield, Rhode Island by 2018 and shift manufacturing to other sites in the U.S. and Ireland and through outside contractors, executives said.

Designed by Elkus Manfredi Architects, the tower at the end of the Route 34 connector replaced 250,000 square feet in three buildings at a Cheshire office park, where Alexion employed 650 people.

SAVINGS BANK OF DANBURY PLANS EXPANSION The Savings Bank of Danbury is beefing up its presence in Waterbury, while also looking to expand the bank’s loan presence to Stamford and Greenwich.

The Connecticut Department of Banking recently approved a new full-service branch at 2084 North Main St. in Waterbury, marking the bank’s third branch in the state’s fifth largest city.

The other two Waterbury branches are on Wolcott and Bank Street.

The Savings Bank of Danbury also filed applications with the Connecticut Department of Banking to open loan production offices on Summer Street in Stamford and on Putnam Avenue in Cos Cob, a neighborhood of Greenwich.

The bank is closing in on $1 billion in assets and currently has 15 branches and ATMs.

OCTOBER 2017 | THE COMMERCIAL RECORD | 9

Hands-On Learning

REDESIGNING SCHOOLS FOR COLLABORATION New Projects Erase Boundariess

A $54 million magnet school built on the campus of University of New Haven was designed to maximize interdisciplinary and hands-on learning styles.

BY STEVE ADAMS | COMMERCIAL RECORD STAFF

L

ecture halls and traditional classrooms are falling out of favor, providing the impetus for a wave of school building projects designed to accommodate flexible learning styles.

In Hartford, the 43-year-old former Weaver High School is undergoing a dramatic transformation into a new magnet school for journalism, finance and drama students. In West Haven, a magnet school with a science and technology focus became a living laboratory for engineering

lessons even before opening its doors.

Just as collaborative workspaces are reshaping office buildings and how businesses use their real estate, schools and universities are discarding traditional building models to fit evolving teaching techniques.

10 | THE COMMERCIAL RECORD | OCTOBER 2017

“Hands-on experience-based learning has been coming to the fore, not just in STEM (science, technology, engineering and mathematics) but in all disciplines,� said Julia McFadden, an associate principal at Svigals + Partners in New Haven.

Form and function work hand in hand at a new $54 million magnet school in West Haven designed by Svigals + Partners.

The Engineering and Science University Magnet School is designed to host interdisciplinary learning and

group projects, including makerspaces equipped with 3-D printers and specialized software.

Classrooms are equipped with glass partitions opening up into hallways, which broaden into group learning spaces with casual furniture.

The 122,000-square-foot school for students in grades 6 through 12 opened in February, replacing a series of temporary spaces in New Haven. The project is a partnership between the University of New Haven, on whose campus the school was built, and the cities of New Haven and West Haven.

The construction project provided an opportunity to expose students to engineering concepts. They toured the property and heard a presentation from a geotechnical engineer about blasting work and excavation required to fit the school into the steeply pitched site. A structural engineer described the 5-story building’s design, including three levels with cantilevered wings over a 2-story base. The design was a nod to the school’s location on a college campus and students’ future academic goals.

“It’s an expression of the reaching out that the students would be making hopefully through their education and their careers, as well as illustrating some of the engineering aspects they were learning about,” McFadden said.

A Windowless Box Transformed In Hartford Built to accommodate 2,000 students when it opened in 1974, Hartford’s 415,000-square-foot Weaver High School suffered from declining enrollment in recent years as school officials pondered new formats.

Glastonbury-based architects S/L/ A/M Collaborative joined the project team in 2014, when the city was still debating which programs to include in the $100 million project as it was converted into a magnet school. The final mix will include the R.J. Kinsella Magnet High School of Performing Arts, an insurance and finance academy called High School Inc., and a Journalism and Media Academy.

To reflect the projected enrollment of 900 students, the project removed the academic wing’s 100,000-square-foot

“

We’re creating opportunities for the faculty and students to organize their learning in a much different way.”

— Chad Floyd, principal, Centerbrook

fifth floor and gut renovated the rest of the building. Architects are now designing renovations to the auditorium and field house located in a separate wing.

Visitors will probably notice the addition of exterior windows as the most dramatic change. Faculty will not have assigned classrooms, but move between different areas of the building and use lockers to store personal belongings.

“Even though they’re three independent schools, nobody owns their own classroom,” said Glenn Gollenberg, a principal at S/L/A/M Collaborative.

“The faculty are moving around the building more than you would normally see in a comprehensive high school. It’s a concept that’s going to be beneficial to Hartford schools, in that they’re trying to have the faculty communicate more than they have in the past.”

Only 18 traditional classrooms and six science labs will remain, leaving space for specialized areas such as a broadcast booth for the school radio station, WTQT, a black box theater and a dance

studio. Completion of the academic wing renovations is scheduled for August 2018.

Amenta-Emma Architects (AEA) in Hartford is an associate architect for the project responsible for the core and shell design, while S/L/A/M Collaborative led the interior architecture, site design and project management as architect of record.

A new addition to University of Connecticut Medical School in Farmington reinvents the traditional lecture hall format.

Designed by Centerbrook Architects, The Rotunda is a 3,800-square-foot hall with capacity for 240 students arrayed around tables with a central dias where lecturers can project images on monitors and students’ laptops.

“It’s no longer the passive lecture format,” said Chad Floyd, a Centerbrook principal. “We’re creating opportunities for the faculty and students to organize their learning in a much different way.” n Email: sadams@thewarrengroup.com

OCTOBER 2017 | THE COMMERCIAL RECORD | 11

STATE STATISTICS 10-Year Single-Family Sales More than $1 Million

Top 5 Credit Unions Market Share: All Mortgages

2,000

American Eagle FCU | 2017 Rank: 1 | 2016 Rank:1

17.71% NUMBER OF SALES

1,600 22.37%

1,200 Charter Oak Fed Cr Un | 2017 Rank: 2 | 2016 Rank: 2

800

12.47%

400

13.12%

Sikorsky Fncl CU Inc | 2017 Rank: 3 | 2016 Rank: 3

0

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 *Statistics include sales January-August - All Years Source: The Warren Group

8.35%

Condo Sales By Price Range 7.88%

6,000 $700K+

5,400

$500k-$699k

Navy FCU | 2017 Rank: 4 | 2016 Rank: 5

$400k-$499k $300k-$399k

4,800

NUMBER OF SALES

$150k-$299k $10K-$149k

4,200 3,600

7.06%

5.69%

3,000

CT State Emp FCU | 2017 Rank: 5 | 2016 Rank: 4 2,400

5.33%

1,800 1,200

5.76%

600 0

1992

1997

2002

2007

2012

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

12 | THE COMMERCIAL RECORD || OCTOBER OCTOBER 2017 2017

2017

2017

2016

*2017 MarketShare percent (of Credit Union Lenders only) thru August 2017 *2016MarketShare percent (of Credit Union Lenders only) thru August 2016

Top 5 Lenders By Market Share Purchase Mortgages

10-Year Condo Sales 10,000

Wells Fargo Bank | 2017 Rank: 1 | 2016 Rank: 1

2.88%

3.63%

LoanDepot.Com | 2017 Rank: 2 | 2016 Rank:5

2.79%

NUMBER OF SALES

8,000

6,000

4,000

2,000 2.56%

0

First World Mortgage | 2017 Rank: 3 | 2016 Rank: 4

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 *Statistics include sales January-August - All Years Source: The Warren Group

2.63%

Multifamily Home Sales 2.60%

2,000

2-Family

3-Family

William Raveis Mtg Co | 2017 Rank: 4 | 2016 Rank: 2

1,600

2.83% Norcom Mortgage | 2017 Rank: 5 | 2016 Rank: 3

NUMBER OF SALES

2.61%

1,200

800

2.54%

400 2.75%

2017

2016

*MarketShare percent and Rank statistics includes loans thru August for both 2016 & 2017

0

07 08 09 10 11 12 13 14 15 16 17 *Statistics include median prices January-August - All Years Source: The Warren Group

OCTOBER 2017 | THE COMMERCIAL RECORD | 13

Construction Crunch

BUILDERS BLAME GOVERNMENT FOR CONSTRUCTION SLOWDOWN

Cost Increases, Tax Hikes Make It Hard To Stay Afloat

14 | THE COMMERCIAL RECORD | OCTOBER 2017

BY JIM MORRISON | COMMERCIAL RECORD STAFF

T

urns out there’s a bright side to Connecticut’s fragile housing recovery. While the National Association of Realtors warns brokers and agents to expect to see their commissions drop, high inventory and low prices will keep those drops in check for Nutmeg State Realtors.

Builders in the Nutmeg State say demand for new homes is way down and will stay that way until Gov. Dannel Malloy and the legislature get the state’s fiscal house in order.

Permits for new homes are far from their pre-crash peaks and a full recovery is not on the horizon, according to Joanne Carroll, publisher and editor of the Home Builders & Remodelers Association of Connecticut’s trade magazine, Connecticut Builder.

“There were around 12,000 permits pulled statewide in 2005,” Carroll said.

“Last year there were 4,006. The majority of permits are not for new single-family homes, though those permits are edging upward.”

Few builders will build on spec anymore; there are too many hurdles, she said.

“

fia Building & Development.

“You can’t lose 30,000 people a year and expect to see an increase in homebuilding,” he said. “Everything is very spotty.

It depends where you are. If you’re lucky enough to be in Southington, you’re selling a few houses. If you’re in West Granby, you’re sitting on your land.

There’s a lot of doom and gloom east of the [Connecticut] river.”

Denorfia has been in the business for 36 years – through four recessions – and while the last one wasn’t the worst, the recovery has been slow. And the situation seems to be getting worse.

“Our state government is not healthy and our material costs are not healthy,” Denorfia said. “But let’s be optimistic: This is

on the banks for about 20 percent of what we do. You have to keep your overhead low and not leverage yourself. That’s why we’re a family-run business.”

As the market for new single-family homes struggles, developers who also remodel, like Wallingford-based Sunwood Development, are moving in.

“The economy is holding us back,” Sunwood’s President and CEO Robert Wiedenmann Jr. said. “Eventually they will get a budget passed, but not having a budget is effecting people’s trust. Permits are down 15 percent from last year, which was the lowest in 20 years. It’s tough out there.

Each year, we say this will be the year it’ll come around. Other parts of the county are recovering much faster than we are.”

Tax increases and the high cost of living are forcing older people on fixed incomes and young professionals to look to other states with lower costs, he said.

“People are saying, ‘The cost of living is so high here, why should we stick around?’

There are a whole lot of places that are less expensive to live than here,” he said. “And there are opportunities all over the country for younger people.”

Wiedenmann doesn’t see a turnaround in the immediate future.

“They’re building rental apartments because young people don’t want to get locked into a house in case they get a better opportunity in another part of the country,” he said. “Until we get job growth, which leads to population growth, we don’t really need any more houses. There’s not a huge need for five to ten thousand new houses to be built in Connecticut right now.”

As a result, his firm has been doing more remodeling, but the margins in that business are getting thin, too.

“People’s houses wear out and they’ll always need roofs, siding and windows,” he said. “But now we’re seeing problems with increasing lumber prices and the cost of construction across the board. Insulation is up. Sheetrock is going to go up. It’s hurting us, but hey, we’re still here. We’re just not making as much as we should for the risk we take every day.” n

Until we get job growth, which leads to population growth, we don’t really need any more houses. There’s not a huge need for five to ten thousand new houses to be built in Connecticut right now.”

— Robert Wiedenmann Jr., president, Sunwood Development

“There are some sweet spots throughout the state,” Carroll said. “But land costs are high and approvals are time-consuming.

There’s also a lack of new construction financing. Builders have to have angel investors or have more capital and be more at risk.”

Builders put the bulk of the blame on the state government. People aren’t moving into Connecticut in great numbers because the state is losing good jobs, not creating them, according to Tony Denorfia, president of the Homebuilders & Remodelers Association of Central Connecticut and president of Southington-based AA Denor-

where Massachusetts was 15 or 20 years ago.

I’m sure we’ll eventually turn it around.”

Denorfia’s firm primarily builds developments, totaling 15 to 18 homes a year, as well as some apartment buildings. This summer was been particularly slow, he said.

Uncertainty Constrains Capital The homebuying public feels uncertain about political leaders at the state and federal level as well, he said, and lenders feel the same.

“Right now there’s no capital around,” Denorfia said. “Getting financing is impossible unless you’re established. We only rely

Email: jmorrison@thewarrengroup.com

OCTOBER 2017 | THE COMMERCIAL RECORD | 15

C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES Jonathan Roberts has joined Webster Bank’s community banking team as executive vice president for consumer deposits and retail network management. Roberts, who has 23 years of experience in retail banking sales, service and operations, joins Webster from First Bank in St. Louis, Missouri, where he was executive vice president of retail and business banking, guiding and modernizing a banking center network of 129 locations while concurrently growing their business banking portfolio. He will be responsible for profitably growing Webster’s consumer deposits business and managing the company’s banking centers and customer care center

LaKisha Jordan has been promoted to corporate responsibility officer for Key Bank’s Connecticut and Western Massachusetts market. Jordan will be responsible for driving KeyBank’s Community Reinvestment Act compliance within its Connecticut and Greater Springfield market areas. Additionally, Jordan will work with local KeyBank leadership and community organizations in partnership on critical community issues facing those markets. The newly created role of corporate responsibility officer expands the role of the bank’s former CRA officers.

After 30 years at the helm of Webster Bank, James C. Smith, chairman and CEO of the bank and its holding company, Webster Financial Corp., will retire at the end of the year. John R. Ciulla, president of the bank, will succeed Smith as the third CEO in Webster’s 82-year history, and also become a member of the board of directors of Webster Financial Corp., the bank’s holding company. Ciulla joined Webster in 2004 as senior vice president for middle market banking and has served in a variety of management positions with increasing responsibility, including as chief credit risk officer from 2008 to 2010. He was promoted to executive vice president in 2011, and became head of commercial banking in 2014.

AWARDS & ACCOLADES

William Pitt Sotheby’s International Realty agent Bryan Morris has been named the 2017 Realtor of the Year by the Darien Board of Realtors. The accolade recognizes his commitment to service as president of both the Darien board and Multiple Listing Service.

Morris was received the award from a committee of past board presidents, adding to the other accomplishments he has achieved in Fairfield County.

16 | THE COMMERCIAL RECORD | OCTOBER 2017

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.

JOHN TRENTACOSTA, PRESIDENT AND CEO, NEWTOWN SAVINGS BANK After graduating into a very difficult job market in 1974, John Trentacosta said he would have taken a job in any sector. He considered himself lucky to land a job at Banker’s Trust Co. in New York, and from that moment forward, he fell in love with banking. After 43 years in banking, Trentacosta announced in April that he will retire at the end of the year.

After more than four decades in banking, what accomplishments are you most proud of?

My proudest accomplishment was helping navigate the bank through the worst recession and banking crisis in history. I’ll never forget that. It presented some challenges. We had to do some restructuring and had a few break-even years. Adding branches and entering new communities are always great moments, but I was very happy to come out of the crisis strong.

What are the biggest challenges community banks face in the future?

Competition has always been one of major challenges. We are blessed in Connecticut to have so many community banks, but the competition is harder against larger banks. They can outspend community banks at will. I think that will continue to be a challenge going forward. Another challenge is remaining relevant with generations, like the Millennials, who have different banking requirements. Trying to align ourselves with them is extremely important.

PATRICK MCMAHON, CEO, CONNECTICUT MAIN STREET CENTER Decisions by General Electric, Aetna and Alexion Pharmaceuticals to uproot their corporate headquarters from Connecticut have spotlighted job-creating industries’ growing preference for urban centers with young, educated talent pools. Restoring jobs, housing and vibrancy to the state’s downtowns and struggling cities has been the longtime goal of the Hartford-based Connecticut Main Street Center; Patrick McMahon joined the group as CEO on Aug. 21.

What are some of the success stories from the “Come Home To Downtown” program that encourages reuse of vacant space as housing?

We’ve had for five years a pilot program where we’d go into communities and pick a single multistory building and work with the property owner. Most of these would have first-floor office or retail and the upper stories were vacant. In New Britain, developer Abner Krohn was able to convert the upper stories at 99 West Main St. into 16 market-rate apartments. There’s a project in Waterbury that is coming close, and others in Torrington, Hartford and Bridgeport. We had an economic consultant firm that determined Connecticut has 187 million square feet of space that could be programmed in our downtowns. We’d be looking at the possibility of bringing online 80,000 more housing units. That sounds like a lot, but that’s only 6 percent of the housing stock in Connecticut. That’s a lot of additional vibrancy that could be brought to our town center areas.

MONIKA AVERY, PRINCIPAL AND INTERIOR ARCHITECTURE PRACTICE LEADER, S/L/A/M COLLABORATIVE Monika Avery has spent 18 years tailoring commercial real estate interiors to the needs of clients in the life science, higher education, manufacturing and professional services sectors.

What originally prompted your interest in the architectural field?

I knew very early what I wanted to do as a profession. As a 10-year-old child in my hometown of Zabrze, Poland, I was inspired by my neighbor, an architect who passionately designed buildings which improved the lives of others. I went into the profession because of her.

Which industry sectors have been the most aggressive about adopting nontraditional workspaces?

The biggest impact on our world today is the competition for talent, and one of the factors they are competing over is the workplace experience. It’s based upon human needs, and they vary demographically, culturally and geographically. It’s important for a design firm to really tune into that.

People want to be engaged and have a sense of purpose in our work life.

What questions do you ask clients to gauge their needs?

We consider our clients to be partners, so we take the time to really listen. It’s less talking and more listening to understand their business goals, their brand, their culture and really co-create with them the right space that is tailored to make them successful.

OCTOBER 2017 | THE COMMERCIAL RECORD | 17

TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly.

TOP 3 STATEWIDE 5 Grist Mill Ln, Simsbury............ $20,900,000

138-154 Hillside Ave, Hartford..$15,200,000*

151 Hillside Ave, Hartford..........$15,200,000*

Use:........................................... Office Bldg-General

Use:........................................................ Parking Lot

Use:................................................... Nursing Home

Buyer: .................................. BW Mill Commons LLC

Buyer: ................................... Summit Trinity Snf LLC

Buyer:................................... Summit Trinity Snf LLC

Seller: ......................................... Mill Commons LLC

Seller: ...................................... Trinity Hill Realty LLC

Seller: ...................................... Trinity Hill Realty LLC

Mtg: ..............................M&T Bank NA $16,125,000

Date:......................................................... 08/11/17

Date:.......................................................... 08/11/17

Date: ......................................................... 08/16/17

Total Assessed Value (2016): .......................$72,590

Total Assessed Value (2016): ..................$3,679,200

Total Assessed Value (2017):.................. $7,584,080

Lot Size:...................................................... 31549sf

Lot Size:...................................................... 68824sf

Lot Size: .................................................... 370696sf

Prior Sale: .....................................$170,000 (11/04)

Prior Sale:.................................. $5,228,490 (01/92)

FAIRFIELD 583 Pacific St, Stamford................. $2,450,000 Use:............................................. Commercial Building Buyer:............................................ 583 Pacific Ch LLC Seller: .............................................Pacific Revival LLC Mtg: ............................Pacific Revival LLC $2,000,000 Date: ............................................................ 09/06/17 Total Assessed Value (2017): .....................$1,343,700 Lot Size: ......................................................... 15528sf Prior Sale: ........................................$712,000 (11/99)

68 Arch St, Greenwich.................... $1,800,000 Use:............................ Mixed Use-Prim Comm & Resd Buyer: ...................................................... 68 Arch LLC Seller: .... Benjamin Futie Tr, Tr for Benjamin&M Futie LT Date: ............................................................ 09/07/17 Total Assessed Value (2017): .....................$1,260,980 Lot Size:........................................................... 6098sf Prior Sale: ..........................................$65,000 (04/91)

6567 Main St, Trumbull................... $1,450,000 Use:............................................. Commercial Building Buyer: ...................................Trumbull Super Stop LLC Seller: ......................................Genes Automotive LLC Date: ............................................................ 08/24/17 Total Assessed Value (2017):........................ $457,100 Lot Size: ......................................................... 36590sf Prior Sale: ........................................$300,000 (08/00)

151 Hillside Ave, Hartford............ $15,200,000* Use:.......................................................Nursing Home Buyer:....................................... Summit Trinity Snf LLC Seller: ..........................................Trinity Hill Realty LLC Date: ............................................................ 08/11/17 Total Assessed Value (2016): .....................$3,679,200 Lot Size:......................................................... 68824sf Prior Sale:..................................... $5,228,490 (01/92)

138-154 Hillside Ave, Hartford.... $15,200,000* Use:........................................................... Parking Lot Buyer: .......................................Summit Trinity Snf LLC Seller: ..........................................Trinity Hill Realty LLC Date: ............................................................ 08/11/17 Total Assessed Value (2016):.......................... $72,590 Lot Size: ......................................................... 31549sf Prior Sale: ........................................$170,000 (11/04)

103 Main St, Plymouth.................... $1,882,485 Use:...........................................Fraternal Organization Buyer: .................................................Marilyn Spencer Seller: ...............................................CPI Terryville LLC Date: ............................................................ 08/28/17 Total Assessed Value (2016): ........................$380,590 Lot Size:......................................................... 35284sf Prior Sale: .....................................$1,784,874 (04/14)

568 Torrington Rd, Litchfield.......... $1,400,000 Use:............................................. Commercial Building Buyer: ...............................................Barking Mad LLC Seller: ..............................................Linda Frankel LLC Mtg:..................... Midwest Business Cap $1,656,000 Date:............................................................. 08/22/17 Total Assessed Value (2017):........................ $579,640 Lot Size:....................................................... 440827sf Prior Sale: ........................................$230,000 (08/04)

59-R Nooks Hill Rd, Cromwell......... $3,585,000 Use:..............................................................Farm Use Buyer: ............................................... Carrier Group Inc Seller: .................................. Larry Webster Assoc LLC Mtg: ......................... Carrier Capital Grp L $3,585,000 Date: ............................................................ 09/01/17 Total Assessed Value (2017): ..........................$23,260 Lot Size: ..................................................... 1363428sf

85-R Skeet Club Rd, Durham.......... $1,400,000 Use:.............................................Industrial Warehouse Buyer: ............................................Hood Industries Inc Seller: ................................................. Liberty Land Co Date: ............................................................ 08/18/17 Total Assessed Value (2017): ........................$714,840 Lot Size:....................................................... 611147sf

HARTFORD 5 Grist Mill Ln, Simsbury...............$20,900,000 Use:...............................................Office Bldg-General Buyer:...................................... BW Mill Commons LLC Seller: ............................................ Mill Commons LLC Mtg:................................. M&T Bank NA $16,125,000 Date: ............................................................ 08/16/17 Total Assessed Value (2017): .....................$7,584,080 Lot Size: ....................................................... 370696sf

LITCHFIELD 400 Park Rd, Watertown................. $4,100,000 Use:..................................................Industrial Building Buyer:..................................... Amgraph Packaging Inc Seller: ...............................................KCAP Realty LLC Mtg:.............................. KCAP Realty LLC $3,690,000 Date: ............................................................ 08/11/17 Total Assessed Value (2017): .....................$3,458,000 Lot Size: ....................................................... 867280sf Prior Sale:..................................... $3,300,000 (11/04)

MIDDLESEX 76 Field Rd, Cromwell..................... $3,585,000 Use:..............................................................Farm Use Buyer:............................................... Carrier Group Inc Seller:.................................. Larry Webster Assoc LLC Mtg: ......................... Carrier Capital Grp L $3,585,000 Date:............................................................ 09/01/17 Total Assessed Value (2017):........................ $116,940 Lot Size:...................................................... 3258288sf Prior Sale: .....................................$1,600,000 (01/17)

18 | THE COMMERCIAL RECORD | OCTOBER 2017

FEATURED PROPERTY 583 Pacific St, Stamford............................................................... $2,450,000 Use:........................................................................................ Commercial Building Buyer:....................................................................................... 583 Pacific Ch LLC Seller: ........................................................................................Pacific Revival LLC Mtg: .......................................................................Pacific Revival LLC $2,000,000 Date: ........................................................................................................09/06/17 Total Assessed Value (2017): ................................................................ $1,343,700 Lot Size: .................................................................................................... 15528sf Prior Sale: ................................................................................... $712,000 (11/99)

NEW HAVEN 300 Fresh Meadow Rd, West Haven. $8,300,000* Use:...........................................Industrial Vacant Land Buyer:............................... Yale-New Haven Health Svc Seller:................................ Acorn Technology Campus Date:............................................................ 08/18/17 Total Assessed Value (2017):.......................... $50,820 Lot Size:....................................................... 234353sf Prior Sale:.......................................... $50,000 (06/96)

320 Fresh Meadow Rd, West Haven. $8,300,000* Use:...........................................Industrial Vacant Land Buyer:............................... Yale-New Haven Health Svc Seller:................................ Acorn Technology Campus Date: ............................................................ 08/18/17 Total Assessed Value (2017): ..........................$51,030 Lot Size: ....................................................... 235224sf

340 Fresh Meadow Rd, West Haven. $8,300,000* Use:...........................................Industrial Vacant Land Buyer: ...............................Yale-New Haven Health Svc Seller:................................ Acorn Technology Campus Date: ............................................................ 08/18/17 Total Assessed Value (2017): ..........................$49,910 Lot Size: ....................................................... 229997sf Prior Sale: ..........................................$50,600 (07/02)

830 Stonington Rd, Stonington........ $950,000 Use:............................................. Commercial Building Buyer: ...............................Lockwood Coveside Marina Seller:........ Eric J Watsky Tr, Tr for Stanley Watsky RET Date: ............................................................ 08/18/17 Total Assessed Value (2017): .....................$1,105,000 Lot Size: ....................................................... 461736sf

85 Norwich Westerly Rd,

NEW LONDON 25 Hancox St, Stonington............... $1,250,700 Use:................................... Apartment Bldg - 4-8 Units Buyer:.......................................... Sandra Gemsemmer Seller: ........................................... Elizabeth B Norman Date:............................................................ 09/06/17 Total Assessed Value (2017): ........................$875,500 Lot Size:........................................................... 9583sf

North Stonington ..............................$933,324 Use.............................................. Commercial Building Buyer:......................................................... Dime Bank Seller: ............. Nautilus Development Inc & Dime Bank Date:............................................................ 08/01/17 Total Assessed Value (2017): .....................$1,556,240 Lot Size: ....................................................... 133144sf Prior Sale: ..........................................$28,500 (07/95)

TOLLAND 77 Industrial Park Rd, Vernon......... $1,280,000 Use:.............................................Industrial Warehouse Buyer:................................... Industrial Property Group Seller: .............................................. Mel Pet Realty Co Mtg: ........................ Peoples United Bank $1,024,000 Date:............................................................ 09/01/17 Total Assessed Value (2017): .....................$1,188,350 Lot Size: ....................................................... 261360sf Prior Sale:......................................$1,300,000 (02/95)

1225 Boston Tpke, Bolton............... $310,000 Use:............................................. Commercial Building Buyer: ............................................... Happy Town LLC Seller: .................................... Boston Tpke Assoc LLC Mtg: ...........................................Dime Bank $378,100 Date: ............................................................ 09/07/17 Total Assessed Value (2015): ........................$232,900 Lot Size: ....................................................... 214751sf

1230 Boston Tpke, Bolton............... $225,000 Use:............................................ Farm and Forest Use Buyer:............................................... Happy Town LLC Seller: ............................ Arlene Giglio & Robin A Giglio Mtg: ...........................................Dime Bank $378,100 Date: ............................................................ 09/07/17 Total Assessed Value (2015):............................ $3,250 Lot Size:....................................................... 596772sf

35 Hawkins St, Killingly................... $252,500 Use:................................... Apartment Bldg - 4-8 Units Buyer: ................... Seth W Mitchell & Kathryn I Mitchell Seller: .......Michael J Amalfitano & Susan M Amalfitano Mtg: ...................................Savings Institute $137,500 Date:............................................................ 09/05/17 Total Assessed Value (2017): ........................$174,090 Lot Size:........................................................... 9583sf Prior Sale:........................................ $250,000 (01/11)

256 Providence St, Putnam............. $229,700 Use:............................................... Apartment Building Buyer: .................Seth W Mitchell & Kathryn M Intoccia Seller: ..............Michael A Summers & Elaine Summers Mtg:................................... Savings Institute $115,000 Date: ............................................................ 08/18/17 Total Assessed Value (2017):........................ $220,500 Lot Size: ........................................................... 8712sf Prior Sale: ........................................$330,000 (12/07)

WINDHAM 601 Chestnut Hill Rd, Killingly......... $290,000 Use:..............................................................Farm Use Buyer: ................ William J Nattress & Sarah T Nattress Seller: ....................................................Edith R Mavor Mtg: .......................................Citizens Bank $255,000 Date:............................................................. 08/11/17 Total Assessed Value (2017): ........................$230,570 Lot Size:..................................................... 5880600sf

*Group sales.

OCTOBER 2017 | THE COMMERCIAL RECORD | 19

TRENDLINES

FAIRFIELD COUNTY SALES REPORT

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

BETHEL 1 Family

2 6

17

-34.62%

120

124

3.33%

$284,950

$300,000

5.28%

$295,000

$317,500

7.63%

Condo

1 1

7

-36.36%

54

65

20.37%

$309,900

$351,351

13.38%

$276,500

$293,500

6.15%

32

-28.89%

225

244

8.44%

$305,000

$343,950

12.77%

$295,000

$315,904

7.09%

12.97%

All Sales

4 5

BRIDGEPORT 1 Family

7 0

70

0.00%

366

412

12.57%

$155,750

$167,300

7.42%

$152,250

$172,000

Condo

3 9

29

-25.64%

161

194

20.50%

$65,000

$82,000

26.15%

$70,000

$75,770

8.24%

1 68

152

-9.52%

898

1,015

13.03%

$125,000

$150,000

20.00%

$130,000

$145,000

11.54%

All Sales

BROOKFIELD 1 Family

2 3

25

8.70%

131

122

-6.87%

$325,000

$355,000

9.23%

$340,000

$367,500

8.09%

Condo

6

8

33.33%

47

55

17.02%

$212,500

$163,000

-23.29%

$202,800

$190,000

-6.31%

3 5

39

11.43%

217

220

1.38%

$295,000

$330,000

11.86%

$308,000

$320,000

3.90%

1 Family

5 3

47

-11.32%

302

300

-0.66%

$302,000

$315,000

4.30%

$270,000

$292,000

8.15%

Condo

5 7

35

-38.60%

261

254

-2.68%

$189,900

$220,000

15.85%

$192,000

$192,000

0.00%

1 28

100

-21.88%

732

714

-2.46%

$266,250

$283,000

6.29%

$259,950

$275,000

5.79%

1 Family

2 7

44

62.96%

198

225

13.64%

$1,550,000

$1,570,500

1.32% $1,344,250

$1,350,000

0.43%

Condo

1

4

300.00%

16

15

-6.25%

N/A $1,163,750

N/A $ 1,172,500

2 9

51

75.86%

234

271

15.81%

$1,538,012

$1,537,500

1 Family

1 2

14

16.67%

80

76

-5.00%

$612,500

$500,000

Condo

0

0

0

0

1 2

15

25.00%

91

86

All Sales

DANBURY

All Sales

DARIEN

All Sales

-0.03% $1,338,250

$738,000 -37.06% $1,315,000

-1.74%

$600,000

0.00%

EASTON

All Sales

N/A

N/A

N/A

N/A

-18.37% N/A

$600,000 N/A

N/A

N/A

-5.49%

$612,500

$500,000

-18.37%

$591,500

$585,000

-1.10%

FAIRFIELD 1 Family

8 1

95

17.28%

506

552

9.09%

$625,000

$604,000

-3.36%

$589,000

$585,000

-0.68%

Condo

1 6

13

-18.75%

70

85

21.43%

$402,500

$395,000

-1.86%

$331,250

$360,000

8.68%

1 03

126

22.33%

652

744

14.11%

$549,000

$560,000

2.00%

$546,500

$561,000

2.65%

14.71% $1,475,000

All Sales

GREENWICH 1 Family

4 2

43

2.38%

243

248

2.06%

$1,373,000

$1,575,000

Condo

1 1

12

9.09%

85

81

-4.71%

$775,000

$829,000

6 5

68

4.62%

382

409

7.07%

$1,120,000

$1,282,500

1 Family

2 6

29

11.54%

135

133

-1.48%

$405,000

$375,500

-7.28%

$361,000

$366,000

1.39%

Condo

7

8

14.29%

41

39

-4.88%

$235,000

$202,500

-13.83%

$228,500

$212,500

-7.00%

3 9

41

5.13%

203

205

0.99%

$370,000

$352,000

-4.86%

$337,500

$327,500

-2.96%

$1,267,500

-21.27% $1,475,001

All Sales

$1,447,500

-1.86%

$675,000

$645,000

-4.44%

14.51% $1,120,000

$1,183,333

5.65%

6.97%

MONROE

All Sales

NEW CANAAN 1 Family

2 2

24

9.09%

154

155

0.65%

$1,610,000

Condo

4

1

-75.00%

40

35

-12.50%

$312,500

2 7

26

-3.70%

208

210

0.96%

$1,350,000

$1,267,500

55.00%

134

153

14.18%

$373,500

$378,000

2

2

0.00%

18.52%

154

170

10.39%

$330,000

$373,000

13.03%

$306,000

$332,500

8.66%

-0.82%

All Sales

$1,400,000

-5.08%

$500,000

$640,000

28.00%

-6.11% $1,302,250

$1,217,500

-6.51%

$339,000

6.55%

N/A -100.00%

NEW FAIRFIELD 1 Family

2 0

31

Condo

0

1

2 7

32

All Sales

N/A

N/A

N/A

1.20% N/A

$318,150 N/A

N/A

N/A

NEWTOWN 1 Family

4 0

47

17.50%

253

276

9.09%

$407,500

$355,000

-12.88%

$380,000

$376,900

Condo

9

3

-66.67%

33

28

-15.15%

$359,995

$345,000

-4.17%

$334,504

$342,498

2.39%

5 5

57

3.64%

325

353

8.62%

$380,000

$352,500

-7.24%

$375,000

$362,500

-3.33%

All Sales

20 | THE COMMERCIAL RECORD | OCTOBER 2017

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

NORWALK 1 Family

6 3

67

6.35%

438

452

3.20%

$422,500

$467,500

10.65%

$426,250

$450,000

5.57%

Condo

4 4

44

0.00%

224

267

19.20%

$262,000

$260,000

-0.76%

$271,000

$260,000

-4.06%

1 30

128

-1.54%

791

842

6.45%

$370,000

$350,500

-5.27%

$382,000

$375,150

-1.79%

1 Family

7

14

100.00%

78

95

21.79%

$466,930

$500,000

7.08%

$519,500

$500,000

-3.75%

Condo

1

0 -100.00%

3

4

33.33%

N/A $260,000

$431,500

65.96%

88.89%

95

111

16.84%

$466,930

$500,000

-5.83%

All Sales

REDDING

All Sales

9

17

N/A

N/A

7.08%

$515,000

$485,000

RIDGEFIELD 1 Family

4 5

42

-6.67%

221

256

15.84%

$615,000

$622,500

1.22%

$640,000

$647,500

1.17%

Condo

9

6

-33.33%

44

54

22.73%

$292,000

$495,000

69.52%

$222,500

$430,000

93.26%

5 7

51

-10.53%

284

333

17.25%

$615,000

$597,000

-2.93%

$609,500

$585,500

-3.94%

1 Family

3 2

37

15.63%

234

244

4.27%

$343,500

$287,000

-16.45%

$315,000

$310,000

-1.59%

Condo

1 4

13

-7.14%

100

82

-18.00%

$338,500

$204,000

-39.73%

$229,611

$266,200

15.94%

68

13.33%

396

391

-1.26%

$342,500

$265,000

-22.63%

$300,000

$306,500

2.17%

-16.67%

32

38

18.75%

$323,450

$330,000

2.03%

$442,500

$426,000

-3.73%

0

0

-16.67%

37

43

16.22%

$323,450

$330,000

2.03%

$400,000

$425,000

All Sales

SHELTON

All Sales

6 0

SHERMAN 1 Family

6

5

Condo

0

0

6

5

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A 6.25%

STAMFORD 1 Family

8 6

81

-5.81%

475

457

-3.79%

$603,000

$565,000

-6.30%

$560,000

$580,000

3.57%

Condo

6 7

60

-10.45%

433

410

-5.31%

$325,000

$318,000

-2.15%

$312,500

$310,000

-0.80%

1 78

159

-10.67% 1,118

1,041

-6.89%

$435,000

$463,000

6.44%

$435,000

$450,000

3.45%

6.96%

All Sales

STRATFORD 1 Family

7 7

76

-1.30%

396

455

14.90%

$239,000

$251,500

5.23%

$225,500

$241,200

Condo

2 0

12

-40.00%

106

115

8.49%

$215,500

$212,500

-1.39%

$166,000

$173,000

4.22%

1 08

99

-8.33%

605

681

12.56%

$230,875

$240,000

3.95%

$210,000

$220,000

4.76%

$394,950

5.46%

$359,900

$386,900

7.50%

N/A -100.00%

$313,500

$297,500

-5.10%

All Sales

TRUMBULL 1 Family

6 7

60

-10.45%

357

309

-13.45%

$374,500

Condo

3

2

-33.33%

26

29

11.54%

$277,000

7 5

68

-9.33%

398

365

-8.29%

$360,000

$386,000

7.22%

$354,500

$378,000

6.63%

1 Family

2 5

15

-40.00%

109

108

-0.92%

$800,000

$825,000

3.13%

$800,000

$792,750

-0.91%

Condo

0

0

0

0

2 9

20

-31.03%

115

122

6.09%

$795,000

$798,000

$1,200,000

All Sales

WESTON

All Sales

N/A

N/A

N/A

N/A

N/A 0.38%

N/A

N/A

N/A

$790,000

$780,000

-1.27%

$1,027,500

-14.38% $1,237,500

$1,250,000

1.01%

N/A $1,530,000

N/A $640,000

WESTPORT 1 Family

4 7

48

2.13%

253

289

14.23%

Condo

2

3

50.00%

14

25

78.57%

5 4

62

14.81%

301

362

20.27%

$1,062,500

$1,027,500

1 Family

2 5

26

4.00%

154

153

-0.65%

$731,000

$853,250

16.72%

Condo

3

5

66.67%

25

21

-16.00%

$287,500

$310,000

7.83%

3 4

36

5.88%

194

193

-0.52%

$657,500

$663,750

All Sales

-3.29% $1,175,000

$480,000 -25.00% $1,142,500

-2.77%

$767,250

$745,000

-2.90%

$336,500

$367,000

9.06%

0.95%

$711,750

$705,000

-0.95%

WILTON

All Sales

FAIRFIELD COUNTY 1 Family

9 22

957

3.80% 5,369

5,632

4.90%

$440,000

$460,000

4.55%

$435,000

$450,000

3.45%

Condo

3 24

266

-17.90% 1,785

1,860

4.20%

$258,250

$260,000

0.68%

$255,000

$259,250

1.67%

1 ,473 1,452

-1.43% 8,655

9,125

5.43%

$367,000

$383,250

4.43%

$365,000

$372,500

2.05%

All Sales

OCTOBER 2017 | THE COMMERCIAL RECORD | 21

TRENDLINES

HARTFORD COUNTY SALES REPORT

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

AVON 1 Family Condo All Sales

4 1 1 7 6 1

34 16 53

-17.07% -5.88% -13.11%

169 79 265

180 80 285

6.51% 1.27% 7.55%

$405,000 $262,000 $352,000

$468,950 $212,500 $360,000

15.79% -18.89% 2.27%

$425,000 $205,000 $335,000

$437,250 $211,000 $329,900

2.88% 2.93% -1.52%

2 6 6 3 6

27 6 34

3.85% 0.00% -5.56%

121 32 173

129 23 182

6.61% -28.13% 5.20%

$265,000 $201,750 $257,500

$245,000 $236,000 $249,000

-7.55% 16.98% -3.30%

$245,000 $240,000 $242,500

$240,000 $220,000 $231,000

-2.04% -8.33% -4.74%

2 6 6 3 5

21 4 29

-19.23% -33.33% -17.14%

172 42 238

153 47 224

-11.05% 11.90% -5.88%

$212,450 $161,350 $215,000

$229,000 $263,000 $236,000

7.79% 63.00% 9.77%

$180,000 $232,500 $193,000

$199,000 10.56% $203,000 -12.69% $200,000 3.63%

6 2 1 6 9 8

71 13 102

14.52% -18.75% 4.08%

365 84 562

410 88 626

12.33% 4.76% 11.39%

$175,000 $109,000 $158,500

$170,500 $99,900 $168,950

-2.57% -8.35% 6.59%

$175,000 $100,000 $160,000

$170,000 $105,000 $157,000

74 2 90

91 0 110

22.97% -100.00% 22.22%

$266,500 N/A $296,000

$320,000 20.08% $260,600 N/A N/A N/A $348,500 17.74% $270,100

$316,000 21.26% N/A N/A $323,725 19.85%

$355,000 $145,000 $240,000

$392,500 $155,000 $320,000

$317,500 $144,500 $282,550

BERLIN 1 Family Condo All Sales

BLOOMFIELD 1 Family Condo All Sales

BRISTOL 1 Family Condo All Sales

-2.86% 5.00% -1.88%

BURLINGTON 1 Family Condo All Sales

1 2 0 1 5

14 0 16

16.67% N/A 6.67%

1 4 5 1 9

14 6 23

0.00% 20.00% 21.05%

77 24 112

90 36 146

16.88% 50.00% 30.36%

10 1 11

-28.57% N/A -21.43%

56 6 69

55 17 80

-1.79% 183.33% 15.94%

$312,950 N/A $312,950

$278,450 -11.02% $259,750 N/A N/A $192,788 $267,000 -14.68% $255,000

$282,500 8.76% $152,000 -21.16% $270,000 5.88%

73 4 96

43.14% -20.00% 57.38%

317 27 433

373 61 533

17.67% 125.93% 23.09%

$160,000 $90,000 $155,000

$155,000 $147,250 $154,500

-3.13% 63.61% -0.32%

$149,900 $97,000 $145,000

$144,200 -3.80% $65,000 -32.99% $135,000 -6.90%

1 2 4 2 4

9 5 22

-25.00% 25.00% -8.33%

61 23 116

68 39 147

11.48% 69.57% 26.72%

$270,825 $178,000 $269,325

$238,000 $141,900 $194,500

-12.12% -20.28% -27.78%

$217,800 $155,000 $176,500

$193,500 -11.16% $136,500 -11.94% $150,000 -15.01%

5 3 1 9 7 7

57 10 74

7.55% -47.37% -3.90%

335 87 472

374 67 495

11.64% -22.99% 4.87%

$166,900 $154,500 $169,000

$186,000 $146,000 $181,750

11.44% -5.50% 7.54%

$169,000 $134,900 $164,950

$179,000 $136,900 $175,000

5.92% 1.48% 6.09%

25 13 41

-3.85% -7.14% -6.82%

164 122 315

167 117 334

1.83% -4.10% 6.03%

$407,500 $200,000 $326,750

$425,000 $212,000 $330,000

4.29% 6.00% 0.99%

$346,000 $190,000 $275,000

$377,500 $187,500 $275,000

9.10% -1.32% 0.00%

5 5 1 7 7 8

41 13 61

-25.45% -23.53% -21.79%

311 90 444

287 83 422

-7.72% -7.78% -4.95%

$387,000 $204,900 $353,050

$310,000 $154,000 $276,500

-19.90% -24.84% -21.68%

$342,000 $178,500 $314,250

$328,000 $170,000 $285,950

-4.09% -4.76% -9.01%

1 3 2 1 7

19 3 25

46.15% 50.00% 47.06%

98 10 133

111 15 153

13.27% 50.00% 15.04%

$265,000 N/A $260,000

$318,000 $169,000 $300,000

20.00% $266,750 N/A $202,000 15.38% $258,500

$280,000 4.97% $177,000 -12.38% $257,000 -0.58%

16 10 64

-52.94% -16.67% -30.43%

182 80 548

204 87 601

12.09% 8.75% 9.67%

$138,250 $30,250 $136,750

$146,650 $28,250 $146,450

6.08% -6.61% 7.09%

$130,000 $60,000 $135,000

9 0 10

10 0 15

CANTON 1 Family Condo All Sales

10.56% 6.90% 33.33%

$319,000 $151,500 $269,950

-0.47% -4.62% 4.67%

EAST GRANBY 1 Family Condo All Sales

1 4 0 1 4

EAST HARTFORD 1 Family Condo All Sales

5 1 5 6 1

EAST WINDSOR 1 Family Condo All Sales

ENFIELD 1 Family Condo All Sales

FARMINGTON 1 Family Condo All Sales

2 6 1 4 4 4

GLASTONBURY 1 Family Condo All Sales

GRANBY 1 Family Condo All Sales

HARTFORD 1 Family Condo All Sales

3 4 1 2 9 2

$119,000 $45,500 $122,275

9.24% 31.87% 10.41%

HARTLAND 1 Family Condo All Sales

1 0 1

0 -100.00% 0 N/A 3 200.00%

11.11% N/A 50.00%

22 | THE COMMERCIAL RECORD | OCTOBER 2017

N/A N/A N/A

N/A N/A $391,000

N/A $265,000 N/A N/A N/A $260,000

$310,250 17.08% N/A N/A $288,000 10.77%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

MANCHESTER 1 Family Condo All Sales

5 9 1 5 9 3

63 16 90

6.78% 6.67% -3.23%

366 71 550

441 86 627

20.49% 21.13% 14.00%

$169,900 $71,234 $161,000

$169,900 $125,500 $160,950

7 0 7

-53.33% N/A -58.82%

58 2 65

72 1 79

24.14% -50.00% 21.54%

43 4 77

22.86% 0.00% 14.93%

263 35 492

282 47 533

31 14 49

-31.11% -33.33% -30.00%

189 108 333

20 9 33

42.86% 80.00% 32.00%

13 9 23

0.00% 76.18% -0.03%

$165,000 $102,000 $162,900

$170,000 $101,250 $165,000

3.03% -0.74% 1.29%

$280,000 N/A $280,000

$284,000 N/A $284,000

7.22% 34.29% 8.33%

$137,000 $54,500 $135,000

$150,000 $103,000 $140,000

9.49% 88.99% 3.70%

$134,900 $65,000 $132,000

$135,000 $97,000 $135,000

0.07% 49.23% 2.27%

210 94 338

11.11% -12.96% 1.50%

$215,000 $135,000 $198,700

$230,000 $170,500 $220,000

6.98% 26.30% 10.72%

$214,000 $135,000 $191,000

$223,000 $148,950 $210,000

4.21% 10.33% 9.95%

93 35 164

126 44 212

35.48% 25.71% 29.27%

$226,500 $80,000 $222,000

$186,950 $155,000 $186,000

-17.46% 93.75% -16.22%

$185,000 $120,488 $179,200

$181,500 $153,000 $181,500

-1.89% 26.98% 1.28%

-18.75% -30.77% -34.29%

89 105 217

73 94 183

-17.98% -10.48% -15.67%

$390,500 $180,000 $269,000

$290,000 $150,750 $265,000

-25.74% -16.25% -1.49%

$281,000 $165,000 $214,000

$278,000 $153,100 $210,000

-1.07% -7.21% -1.87%

45 12 61

2.27% 0.00% 8.93%

253 58 325

242 81 343

-4.35% 39.66% 5.54%

$326,050 $132,688 $300,000

$335,000 $143,000 $315,000

2.74% 7.77% 5.00%

$318,000 $165,750 $300,000

$320,000 $150,000 $295,000

0.63% -9.50% -1.67%

27 22 53

-30.77% 37.50% -7.02%

172 80 279

185 88 311

7.56% 10.00% 11.47%

$265,000 $149,750 $227,000

$273,000 $178,500 $226,000

3.02% 19.20% -0.44%

$262,750 $171,300 $240,000

$275,900 5.00% $152,750 -10.83% $241,500 0.63%

6 4 1 3 9 4

64 16 85

0.00% 23.08% -9.57%

275 71 416

281 79 436

2.18% 11.27% 4.81%

$265,000 $146,500 $221,250

$288,500 $171,000 $269,900

8.87% 16.72% 21.99%

$265,000 $145,000 $231,500

$280,000 $157,000 $245,500

5.66% 8.28% 6.05%

2 3 3 3 3

16 6 24

-30.43% 100.00% -27.27%

92 34 161

95 28 167

3.26% -17.65% 3.73%

$325,000 $165,000 $325,000

$360,950 $237,500 $345,300

11.06% 43.94% 6.25%

$300,000 $162,000 $245,000

$272,000 $185,450 $259,750

-9.33% 14.48% 6.02%

90 9 104

-1.10% -18.18% -8.77%

565 100 742

590 93 760

4.42% -7.00% 2.43%

$290,000 $264,000 $278,250

$322,450 $239,000 $310,000

11.19% -9.47% 11.41%

$303,000 $205,000 $290,000

$320,000 $187,000 $303,750

5.61% -8.78% 4.74%

6 0 4 6 6

41 9 54

-31.67% 125.00% -18.18%

268 30 320

262 45 329

-2.24% 50.00% 2.81%

$247,500 $174,200 $230,000

$205,000 $157,500 $202,500

-17.17% -9.59% -11.96%

$230,000 $129,500 $220,000

$239,000 $128,000 $229,900

3.91% -1.16% 4.50%

3 8 1 0 5 2

31 10 44

-18.42% 0.00% -15.38%

229 52 324

214 55 302

-6.55% 5.77% -6.79%

$217,450 $246,871 $220,450

$209,900 $188,500 $192,500

-3.47% -23.64% -12.68%

$180,000 $171,500 $180,000

$192,000 $190,000 $201,500

6.67% 10.79% 11.94%

12 3 18

-25.00% 0.00% -25.00%

94 20 145

82 29 140

-12.77% 45.00% -3.45%

$162,950 $113,000 $171,500

$166,250 $135,900 $166,250

2.03% 20.27% -3.06%

$164,500 $129,500 $167,500

$172,950 $135,900 $170,500

5.14% 4.94% 1.79%

-6.51% 5,517 -3.95% 1,509 -6.71% 8,513

5,857 1,624 9,113

6.16% 7.62% 7.05%

$235,000 $154,000 $212,667

$225,000 $158,000 $209,900

-4.26% 2.60% -1.30%

$220,000 $150,000 $199,900

$220,000 $147,100 $200,000

0.00% -1.93% 0.05%

MARLBOROUGH 1 Family Condo All Sales

1 5 0 1 7

1.43% $278,000 N/A N/A 1.43% $272,500

$266,250 -4.23% N/A N/A $258,900 -4.99%

NEW BRITAIN 1 Family Condo All Sales

3 5 4 6 7

NEWINGTON 1 Family Condo All Sales

4 5 2 1 7 0

PLAINVILLE 1 Family Condo All Sales

1 4 5 2 5

ROCKY HILL 1 Family Condo All Sales

1 6 1 3 3 5

SIMSBURY 1 Family Condo All Sales

4 4 1 2 5 6

SOUTH WINDSOR 1 Family Condo All Sales

3 9 1 6 5 7

SOUTHINGTON 1 Family Condo All Sales

SUFFIELD 1 Family Condo All Sales

WEST HARTFORD 1 Family Condo All Sales

9 1 1 1 1 14

WETHERSFIELD 1 Family Condo All Sales

WINDSOR 1 Family Condo All Sales

WINDSOR LOCKS 1 Family Condo All Sales

1 6 3 2 4

HARTFORD COUNTY 1 Family Condo All Sales

9 99 934 2 53 243 1 ,475 1,376

OCTOBER 2017 | THE COMMERCIAL RECORD | 23

TRENDLINES

LITCHFIELD COUNTY SALES REPORT

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

BARKHAMSTED 1 Family Condo All Sales

3 0 6

3 0 5

0.00% N/A -16.67%

23 0 29

23 0 32

0.00% N/A 10.34%

$297,000 N/A $283,500

$327,350 10.22% $257,500 N/A N/A N/A $348,000 22.75% $258,000

$255,000 -0.97% N/A N/A $260,000 0.78%

7 0 8

75.00% N/A 100.00%

23 0 31

18 0 25

-21.74% N/A -19.35%

$213,050 N/A $213,050

$347,500 63.11% $248,200 N/A N/A N/A $323,750 51.96% $226,000

$241,500 -2.70% N/A N/A $185,000 -18.14%

0 0 2

3 0 3

N/A N/A 50.00%

12 0 20

17 1 19

41.67% N/A -5.00%

N/A N/A N/A

$518,500 N/A $518,500

N/A $320,000 N/A N/A N/A $320,000

$475,000 48.44% N/A N/A $475,000 48.44%

3 0 3

4 0 4

33.33% N/A 33.33%

10 0 13

15 0 16

50.00% N/A 23.08%

$280,000 N/A $280,000

$173,500 -38.04% $255,000 N/A N/A N/A $173,500 -38.04% $220,000

$300,000 17.65% N/A N/A $301,250 36.93%

1 0 2

-75.00% N/A -60.00%

16 0 18

12 0 14

-25.00% N/A -22.22%

$144,500 N/A $232,500

N/A -100.00% $197,250 N/A N/A N/A N/A -100.00% $202,750

$211,000 6.97% N/A N/A $211,000 4.07%

2 0 2

3 0 4

50.00% N/A 100.00%

12 0 17

16 0 22

33.33% N/A 29.41%

N/A N/A N/A

8 0 9

6 0 9

-25.00% N/A 0.00%

36 1 44

41 0 55

13.89% -100.00% 25.00%

9 0 1 3

7 0 8

-22.22% N/A -38.46%

54 1 74

50 1 65

4 3 8

1 -75.00% 0 -100.00% 2 -75.00%

20 7 39

BETHLEHEM 1 Family Condo All Sales

4 0 4

BRIDGEWATER 1 Family Condo All Sales

CANAAN 1 Family Condo All Sales

COLEBROOK 1 Family Condo All Sales

4 0 5

CORNWALL 1 Family Condo All Sales

$175,000 N/A $310,000

N/A $345,000 N/A N/A N/A $390,000

$204,500 -40.72% N/A N/A $188,250 -51.73%

$367,500 N/A $360,000

$297,500 -19.05% $310,000 N/A N/A N/A $230,000 -36.11% $300,000

$320,000 3.23% N/A N/A $285,000 -5.00%

-7.41% 0.00% -12.16%

$220,000 N/A $288,000

$355,000 61.36% $252,500 N/A N/A N/A $317,550 10.26% $243,500

$262,500 3.96% N/A N/A $249,000 2.26%

5 1 14

-75.00% -85.71% -64.10%

$375,000 $156,000 $231,500

15.09% 71.43% 15.91% 60.00% N/A 52.94%

GOSHEN 1 Family Condo All Sales

HARWINTON 1 Family Condo All Sales

KENT 1 Family Condo All Sales

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

$339,750 $169,900 $275,000

$620,000 82.49% N/A - 100.00% $271,250 -1.36%

$295,500 N/A $305,000

$335,000 13.37% $285,000 N/A N/A $257,500 $256,500 -15.90% $302,500

$258,000 -9.47% $247,500 -3.88% $258,000 -14.71%

$260,750 N/A $437,250

$390,000 49.57% $260,750 N/A N/A N/A $303,750 -30.53% $225,000

$340,500 30.58% N/A N/A $315,000 40.00%

$245,500 N/A $200,200

$245,100 -0.16% $229,550 N/A N/A $113,500 $235,000 17.38% $201,000

$245,050 6.75% N/A - 100.00% $229,000 13.93%

$264,000 $146,900 $240,000

$269,500 $139,500 $232,500

$280,000 1.84% $112,000 -17.04% $245,000 1.98%

LITCHFIELD 1 Family Condo All Sales

8 1 1 6

10 1 22

25.00% 0.00% 37.50%

53 7 88

61 12 102

4 0 6

3 1 10

-25.00% N/A 66.67%

10 0 17

16 1 26

7 0 9

16.67% N/A -25.00%

38 5 62

48 1 77

26.32% -80.00% 24.19%

3 1 7 5 3

38 13 60

22.58% 85.71% 13.21%

200 41 302

220 65 363

10.00% 58.54% 20.20%

2 0 2

3 0 3

13 0 19

11 1 18

-15.38% N/A -5.26%

MORRIS 1 Family Condo All Sales

NEW HARTFORD 1 Family Condo All Sales

6 0 1 2

NEW MILFORD 1 Family Condo All Sales

2.08% -5.04% -3.13%

$274,950 $135,000 $240,250

NORFOLK 1 Family Condo All Sales

50.00% N/A 50.00%

24 | THE COMMERCIAL RECORD | OCTOBER 2017

N/A N/A N/A

$377,000 N/A $377,000

N/A $196,500 N/A N/A N/A $185,000

$275,000 39.95% N/A N/A $250,000 35.14%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

AUG. 2016

-27.27%

$92,500

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

NORTH CANAAN 1 Family

3

2

Condo

0

0

5

3 23

All Sales

-33.33%

22

16

0

1

-40.00%

35

20

35.29%

65

0 -100.00%

9

N/A

N/A

N/A

N/A -100.00% N/A

N/A

$153,900 N/A

$157,500 N/A

2.34% N/A

-42.86%

$92,500

$184,000

98.92%

$150,000

$157,500

5.00%

121

86.15%

$157,000

$175,000

11.46%

$166,000

$165,000

-0.60%

6

-33.33%

$97,900

$106,000

8.27%

PLYMOUTH 1 Family

1 7

Condo

2

All Sales

N/A

N/A

N/A

2 1

24

14.29%

94

142

51.06%

$153,500

$179,450

16.91%

$154,450

$158,000

2.30%

1 Family

3

3

0.00%

23

23

0.00%

$293,000

$550,000

87.71%

$495,000

$550,000

11.11%

Condo

0

0

0

0

4

5

25.00%

33

31

ROXBURY

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

-6.06%

$571,500

$642,500

12.42%

$450,000

$550,000

22.22%

$1,100,000

$363,500

-66.95%

$382,500

$400,000

4.58%

SALISBURY 1 Family

5

9

80.00%

30

37

23.33%

Condo

2

1

-50.00%

2

1

-50.00%

7

13

85.71%

38

52

36.84%

$495,000

$363,500

-26.57%

$325,000

$402,500

23.85%

1 Family

5

3

-40.00%

31

23

-25.81%

$503,000

$550,000

9.34%

$330,000

$355,000

7.58%

Condo

0

0

1

3

200.00%

6

4

-33.33%

43

40

-6.98%

$480,250

$392,500

-18.27%

$204,500

$192,950

-5.65%

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

SHARON

All Sales

N/A

N/A

N/A

N/A

N/A

$165,100

N/A

$305,000

$327,500

7.38%

$215,000

$188,500 -12.33%

THOMASTON 1 Family

6

10

66.67%

33

50

51.52%

Condo

1

2

100.00%

9

7

-22.22%

1 0

13

30.00%

50

71

42.00%

$204,500

$190,000

All Sales

N/A

N/A

N/A

$95,000

$97,000

2.11%

-7.09%

$185,000

$180,000

-2.70% 0.83%

TORRINGTON 1 Family

4 3

36

-16.28%

263

254

-3.42%

$150,000

$139,200

-7.20%

$132,000

$133,100

Condo

8

9

12.50%

55

58

5.45%

$65,250

$80,000

22.61%

$72,000

$78,500

9.03%

7 1

63

-11.27%

409

404

-1.22%

$120,000

$125,000

4.17%

$119,500

$117,900

-1.34%

1 Family

1

2

100.00%

15

7

-53.33%

Condo

0

0

0

0

1

2

100.00%

20

15

All Sales

WARREN

All Sales

N/A

N/A -25.00%

N/A

N/A

N/A $560,000

N/A

N/A

N/A

N/A

N/A

N/A $294,250

N/A

$338,000 -39.64% N/A

N/A

$338,000

14.87%

$492,500

-1.50%

$229,000

N/A

WASHINGTON 1 Family

3

6

100.00%

38

42

10.53%

Condo

1

0 -100.00%

1

5

400.00%

150.00%

49

57

16.33%

$835,000

$370,000

-55.69%

$475,000

$390,000 -17.89%

$208,000

$181,500

-12.74%

$190,000

$194,500

2.37%

N/A $140,000

$182,000

30.00%

All Sales

4

10

$1,375,000 N/A

$370,000 N/A

-73.09% N/A

$500,000 N/A

WATERTOWN 1 Family

2 8

42

50.00%

160

170

6.25%

Condo

2

4

100.00%

17

18

5.88%

3 6

55

52.78%

222

250

12.61%

$205,000

$183,000

-10.73%

$185,000

$184,950

-0.03%

$159,000

$237,500

49.37%

$147,000

$167,500

13.95%

$69,500

$75,000

7.91%

All Sales

N/A

$154,450

WINCHESTER 1 Family

1 1

14

27.27%

72

80

11.11%

Condo

1

1

0.00%

8

13

62.50%

2 0

18

-10.00%

111

129

16.22%

$162,000

$208,125

28.47%

$136,000

$157,000

15.44%

$375,000

13.64%

$348,000

$320,000

-8.05%

N/A -100.00%

$129,750

$116,901

-9.90%

-1.63%

$290,000

$282,500

-2.59%

All Sales

N/A

N/A

N/A

WOODBURY 1 Family

1 7

15

-11.76%

61

67

9.84%

$330,000

Condo

4

2

-50.00%

22

27

22.73%

$121,500

2 5

22

-12.00%

107

110

2.80%

$299,900

$295,000

13.48% 1,333

All Sales

LITCHFIELD COUNTY 1 Family

2 30

261

Condo

3 2

34

3 51

381

All Sales

1,443

8.25%

$227,500

$235,000

3.30%

$217,000

$225,000

3.69%

186

222

19.35%

$126,000

$108,950

-13.53%

$110,250

$107,500

-2.49%

8.55% 1,984

2,169

9.32%

$210,000

$205,000

-2.38%

$191,250

$195,000

1.96%

6.25%

OCTOBER 2017 | THE COMMERCIAL RECORD | 25

TRENDLINES

MIDDLESEX COUNTY SALES REPORT

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

CHESTER 1 Family Condo All Sales

5 0 6

9 0 9

2 2 6 3 3

10 1 14 15 15 30

80.00% N/A 50.00%

33 0 37

38 0 44

-54.55% -83.33% -57.58%

120 27 178

117 24 168

0.00% 15.38% -3.23%

82 91 198

6 20.00% 0 -100.00% 6 -25.00%

15.15% N/A 18.92%

$244,000 N/A $267,000

$270,000 10.66% $262,000 N/A N/A N/A $270,000 1.12% $250,125

$282,500 7.82% N/A N/A $275,000 9.95%

-2.50% -11.11% -5.62%

$267,500 $142,500 $240,000

$306,250 14.49% N/A -100.00% $271,250 13.02%

$265,000 $155,000 $240,000

$265,000 0.00% $125,100 -19.29% $241,500 0.63%

84 97 198

2.44% 6.59% 0.00%

$265,000 $132,000 $186,500

$264,000 $149,900 $199,250

$264,000 $135,900 $177,000

$242,500 $135,000 $172,950

39 5 50

26 11 46

-33.33% 120.00% -8.00%

$217,000 N/A $248,500

$247,000 13.82% $235,000 N/A N/A $134,600 $247,000 -0.60% $234,950

$224,250 -4.57% $133,400 -0.89% $199,000 -15.30% $342,500 9.60% N/A - 100.00% $342,500 12.76%

CLINTON 1 Family Condo All Sales

CROMWELL 1 Family Condo All Sales

1 5 1 3 3 1

-0.38% 13.56% 6.84%

-8.14% -0.66% -2.29%

DEEP RIVER 1 Family Condo All Sales

5 1 8

DURHAM 1 Family Condo All Sales

1 0 0 1 6

13 0 14

30.00% N/A -12.50%

56 3 70

67 2 79

19.64% -33.33% 12.86%

$328,750 N/A $318,700

$330,510 N/A $349,755

0.54% $312,500 N/A $99,900 9.74% $303,750

14 0 16

-33.33% N/A -38.46%

82 2 100

91 3 123

10.98% 50.00% 23.00%

$265,000 N/A $223,000

$242,000 N/A $242,000

-8.68% $256,000 N/A N/A 8.52% $230,000

1 4 2 1 6

15 3 26

7.14% 50.00% 62.50%

100 8 129

112 19 166

12.00% 137.50% 28.68%

$273,250 N/A $258,500

$239,900 $269,900 $198,500

-12.20% $255,000 N/A $166,250 -23.21% $257,000

$240,500 -5.69% $155,000 -6.77% $224,950 -12.47%

1 0 2 1 4

11 10.00% 0 -100.00% 12 -14.29%

53 14 78

61 4 81

15.09% -71.43% 3.85%

$380,000 N/A $232,500

$337,500 -11.18% $312,500 N/A N/A $221,250 $383,750 65.05% $277,750

$319,000 2.08% $190,000 -14.12% $294,000 5.85%

8 0 1 0

13 0 16

62.50% N/A 60.00%

79 0 92

76 1 106

-3.80% N/A 15.22%

$240,000 N/A $240,000

$285,000 18.75% $255,000 N/A N/A N/A $295,000 22.92% $245,000

$286,000 12.16% N/A N/A $280,000 14.29%

11 0 14

-8.33% N/A 7.69%

62 0 67

71 1 89

14.52% N/A 32.84%

$323,945 N/A $332,890

$380,000 17.30% $325,000 N/A N/A N/A $352,000 5.74% $330,000

$339,000 4.31% N/A N/A $308,000 -6.67%

8 2 10

60.00% N/A 100.00%

28 4 41

36 6 54

28.57% 50.00% 31.71%

$298,000 N/A $298,000

$257,500 -13.59% $266,000 N/A N/A $198,450 $257,500 -13.59% $249,900

$249,300 $194,000 $246,450

-6.28% -2.24% -1.38%

48 16 72

50.00% 45.45% 38.46%

206 87 353

273 91 443

32.52% 4.60% 25.50%

$216,750 $109,250 $184,500

$215,000 $97,500 $182,000

$214,250 $109,000 $175,000

$205,000 $110,000 $175,000

-4.32% 0.92% 0.00%

24 0 33

60.00% N/A 120.00%

89 9 132

126 17 170

41.57% 88.89% 28.79%

$360,000 N/A $360,000

$383,750 N/A $380,000

6.60% $350,000 N/A $350,000 5.56% $335,900

$371,250 $368,750 $366,875

6.07% 5.36% 9.22%

75 11 111

83 9 118

10.67% -18.18% 6.31%

$200,000 N/A $200,000

$289,000 44.50% $229,000 N/A N/A $189,500 $255,000 27.50% $215,000

EAST HADDAM 1 Family Condo All Sales

2 1 0 2 6

$238,000 $145,000 $215,000

-7.03% N/A -6.52%

EAST HAMPTON 1 Family Condo All Sales

ESSEX 1 Family Condo All Sales

HADDAM 1 Family Condo All Sales

KILLINGWORTH 1 Family Condo All Sales

1 2 0 1 3

MIDDLEFIELD 1 Family Condo All Sales

5 0 5

MIDDLETOWN 1 Family Condo All Sales

3 2 1 1 5 2

-0.81% -10.76% -1.36%

OLD SAYBROOK 1 Family Condo All Sales

1 5 0 1 5

PORTLAND 1 Family Condo All Sales

1 5 2 2 1

18 20.00% 0 -100.00% 25 19.05%

26 | THE COMMERCIAL RECORD | OCTOBER 2017

$245,000 6.99% $125,000 -34.04% $213,750 -0.58%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

34 4 59

64 9 84

88.24% 125.00% 42.37%

$299,000 N/A $300,000

$440,000 47.16% $295,000 N/A N/A $388,500 $440,000 46.67% $269,000

$327,000 10.85% $325,000 -16.34% $325,000 20.82%

16.49% 1,138 -2.63% 265 12.00% 1,695

1,325 294 1,969

16.43% 10.94% 16.17%

$263,000 $130,000 $240,000

$281,250 $129,000 $254,500

$265,500 $128,250 $237,700

WESTBROOK 1 Family Condo All Sales

5 1 9

11 120.00% 0 -100.00% 11 22.22%

MIDDLESEX COUNTY 1 Family Condo All Sales

1 94 3 8 2 75

226 37 308

6.94% -0.77% 6.04%

$260,000 $133,000 $234,900

2.12% -3.57% 1.19%

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OCTOBER 2017 | THE COMMERCIAL RECORD | 27

TRENDLINES

NEW HAVEN COUNTY SALES REPORT

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

ANSONIA 1 Family Condo All Sales

1 8 1 2 6

19 1 33

5.56% 0.00% 26.92%

108 4 160

110 2 169

1.85% -50.00% 5.63%

$187,500 N/A $204,000

$235,000 25.33% $178,000 N/A N/A $107,500 $207,000 1.47% $169,950

$177,000 -0.56% N/A - 100.00% $176,700 3.97%

6 3 1 2

6 6 19

0.00% 100.00% 58.33%

35 13 62

39 14 74

11.43% 7.69% 19.35%

$221,000 $259,900 $245,000

$239,000 $254,950 $226,000

8.14% -1.90% -7.76%

$250,000 13.12% $250,000 -20.31% $251,000 3.53%

1 5 0 1 5

7 0 8

-53.33% N/A -46.67%

41 0 44

44 0 51

7.32% N/A 15.91%

$337,500 N/A $337,500

$334,500 N/A $324,750

-0.89% $322,500 N/A N/A -3.78% $305,000

21 11 42

23.53% -8.33% 13.51%

145 105 296

153 122 343

5.52% 16.19% 15.88%

$342,500 $157,200 $237,000

$300,000 $192,500 $250,600

-12.41% 22.46% 5.74%

$303,000 $152,000 $224,450

$300,000 $158,000 $231,500

-0.99% 3.95% 3.14%

4 7 7 6 0

42 7 56

-10.64% 0.00% -6.67%

202 47 285

217 57 305

7.43% 21.28% 7.02%

$300,000 $177,500 $286,250

$350,000 $165,000 $337,500

16.67% -7.04% 17.90%

$308,000 $168,000 $285,000

$335,000 $152,900 $288,430

8.77% -8.99% 1.20%

9 4 1 3

11 6 19

22.22% 50.00% 46.15%

55 28 116

47 50 133

-14.55% 78.57% 14.66%

$225,000 $122,250 $170,000

$185,000 $145,000 $165,000

-17.78% 18.61% -2.94%

$189,900 $126,250 $161,700

$179,000 $141,775 $149,900

-5.74% 12.30% -7.30%

31 14 49

-16.22% -22.22% -18.33%

201 74 307

229 75 346

13.93% 1.35% 12.70%

$185,000 $114,000 $167,500

$195,000 $132,000 $175,000

5.41% 15.79% 4.48%

$180,000 $131,000 $173,000

$178,000 $137,000 $172,500

-1.11% 4.58% -0.29%

2 8 5 3 8

36 5 44

28.57% 0.00% 15.79%

187 24 239

189 38 272

1.07% 58.33% 13.81%

$350,000 $110,000 $349,000

$374,000 6.86% $290,000 163.64% $369,000 5.73%

$350,000 $114,750 $330,000

$378,000 $187,500 $369,000

8.00% 63.40% 11.82%

4 9 1 0 7 6

34 8 51

-30.61% -20.00% -32.89%

368 78 515

347 77 495

-5.71% -1.28% -3.88%

$190,000 $136,500 $173,500

$178,000 $170,000 $190,000

-6.32% 24.54% 9.51%

$195,850 $112,500 $181,000

$200,000 $112,000 $190,000

2.12% -0.44% 4.97%

3 6 3 4 2

29 4 40

-19.44% 33.33% -4.76%

186 14 221

187 19 233

0.54% 35.71% 5.43%

$376,250 $193,500 $372,500

$398,000 $266,000 $378,500

5.78% 37.47% 1.61%

$400,000 $228,000 $378,000

$400,000 $380,000 $390,000

0.00% 66.67% 3.17%

5 6 1 2 8 8

71 14 101

26.79% 16.67% 14.77%

365 101 584

394 88 612

7.95% -12.87% 4.79%

$160,000 $111,500 $150,000

$175,000 $112,750 $162,000

9.38% 1.12% 8.00%

$154,900 $90,000 $134,375

$156,000 $96,000 $138,400

0.71% 6.67% 3.00%

53 11 93

66 20 110

24.53% 81.82% 18.28%

$220,000 N/A $255,250

$309,000 $356,920 $340,960

40.45% $270,500 N/A $450,000 33.58% $290,000

$276,500 2.22% $347,000 -22.89% $304,000 4.83%

BEACON FALLS 1 Family Condo All Sales

$221,000 $313,700 $242,450

BETHANY 1 Family Condo All Sales

$317,500 -1.55% N/A N/A $315,000 3.28%

BRANFORD 1 Family Condo All Sales

1 7 1 2 3 7

CHESHIRE 1 Family Condo All Sales

DERBY 1 Family Condo All Sales

EAST HAVEN 1 Family Condo All Sales

3 7 1 8 6 0

GUILFORD 1 Family Condo All Sales

HAMDEN 1 Family Condo All Sales

MADISON 1 Family Condo All Sales

MERIDEN 1 Family Condo All Sales

MIDDLEBURY 1 Family Condo All Sales

1 4 0 1 8

13 3 20

-7.14% N/A 11.11%

7 3 2 2 1 04

77 25 115

5.48% 13.64% 10.58%

377 121 575

436 144 656

15.65% 19.01% 14.09%

$285,000 $207,500 $267,450

$286,000 $235,000 $270,000

0.35% 13.25% 0.95%

$280,000 $176,000 $262,000

$293,500 $198,250 $270,000

4.82% 12.64% 3.05%

21 11 46

-36.36% -21.43% -16.36%

212 42 301

223 37 343

5.19% -11.90% 13.95%

$163,770 $78,250 $144,500

$189,900 $109,000 $155,000

15.96% 39.30% 7.27%

$162,535 $68,750 $149,000

$166,000 $78,000 $157,500

2.13% 13.45% 5.70%

MILFORD 1 Family Condo All Sales

NAUGATUCK 1 Family Condo All Sales

3 3 1 4 5 5

28 | THE COMMERCIAL RECORD | OCTOBER 2017

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

NEW HAVEN 1 Family Condo All Sales

3 5 2 0 1 05

32 31 99

-8.57% 55.00% -5.71%

248 99 683

270 144 753

8.87% 45.45% 10.25%

$172,000 $159,750 $175,000

$208,000 $143,617 $178,500

13 3 16

-31.58% 50.00% -33.33%

89 16 114

103 24 151

15.73% 50.00% 32.46%

$250,000 N/A $233,601

2 9 2 4 0

21 3 31

-27.59% 50.00% -22.50%

170 17 231

167 18 241

-1.76% 5.88% 4.33%

2 4 1 2 9

18 1 21

-25.00% 0.00% -27.59%

110 4 138

96 9 124

1 4 3 1 8

20 1 25

42.86% -66.67% 38.89%

79 21 129

11 8 22

37.50% 700.00% 69.23%

20 4 29

20.93% -10.10% 2.00%

$177,500 $130,000 $163,000

$169,250 $127,450 $168,000

-4.65% -1.96% 3.07%

$257,500 $137,000 $239,500

3.00% $255,000 N/A $155,000 2.53% $246,250

$260,000 $157,500 $239,900

1.96% 1.61% -2.58%

$260,000 N/A $264,500

$295,000 $227,000 $285,000

13.46% $261,250 N/A $225,000 7.75% $260,000

$280,000 $277,500 $299,900

7.18% 23.33% 15.35%

-12.73% 125.00% -10.14%

$373,450 N/A $366,450

$403,750 N/A $387,500

97 15 133

22.78% -28.57% 3.10%

$369,000 $370,000 $367,500

$358,000 -2.98% N/A -100.00% $350,000 -4.76%

59 23 96

63 29 115

6.78% 26.09% 19.79%

$242,500 N/A $220,000

$295,000 $307,500 $296,200

21.65% $270,000 N/A $363,856 34.64% $299,000

$284,901 5.52% $305,000 -16.18% $295,000 -1.34%

0.00% 100.00% 11.54%

111 23 161

120 29 178

8.11% 26.09% 10.56%

$223,000 N/A $210,000

$211,650 $259,250 $205,000

-5.09% $215,000 N/A $97,000 -2.38% $188,000

$208,250 $145,000 $195,000

-3.14% 49.48% 3.72%

24 34 63

-7.69% -10.53% -4.55%

147 176 346

142 210 380

-3.40% 19.32% 9.83%

$383,950 $123,500 $174,750

$355,000 $149,000 $212,500

-7.54% 20.65% 21.60%

$335,000 $125,000 $191,000

$325,500 $135,750 $205,000

-2.84% 8.60% 7.33%

46 16 70

17.95% -23.81% 1.45%

272 89 429

278 95 427

2.21% 6.74% -0.47%

$270,000 $184,900 $255,000

$260,350 $150,500 $251,000

-3.57% -18.60% -1.57%

$241,750 $170,000 $234,000

$246,000 $153,500 $233,000

1.76% -9.71% -0.43%

82 19 145

0.00% 26.67% 20.83%

467 127 820

516 126 893

10.49% -0.79% 8.90%

$101,000 $40,000 $85,000

$115,000 $73,000 $100,000

13.86% 82.50% 17.65%

$100,000 $54,500 $85,150

$102,000 $64,950 $90,397

2.00% 19.17% 6.16%

61 9 89

35.56% 12.50% 43.55%

265 60 415

310 70 494

16.98% 16.67% 19.04%

$162,000 $112,500 $163,500

$174,900 $139,000 $177,000

7.96% 23.56% 8.26%

$158,000 $102,500 $158,000

$167,945 $108,450 $165,000

6.29% 5.80% 4.43%

22 -8.33% 0 -100.00% 24 -17.24%

109 10 142

118 7 142

8.26% -30.00% 0.00%

$244,000 N/A $202,800

$163,000 -33.20% $215,000 N/A N/A $173,000 $165,950 -18.17% $202,650

$202,975 $175,000 $201,725

-5.59% 1.16% -0.46%

91 0 96

80 0 89

-12.09% N/A -7.29%

$382,500 N/A $382,500

$349,000 N/A $349,000

$385,000 6.94% N/A N/A $385,000 7.24%

-3.26% 4,752 7.96% 1,327 1.73% 7,598

5,041 1,519 8,262

$230,000 $132,250 $202,650

$230,000 $145,100 $211,172

NORTH BRANFORD 1 Family Condo All Sales

1 9 2 2 4

NORTH HAVEN 1 Family Condo All Sales

ORANGE 1 Family Condo All Sales

8.11% $346,250 N/A $539,434 5.74% $370,950

$329,500 -4.84% $445,578 -17.40% $338,500 -8.75%

OXFORD 1 Family Condo All Sales

$330,000 $370,000 $349,900

$317,000 $366,000 $326,000

-3.94% -1.08% -6.83%

PROSPECT 1 Family Condo All Sales

8 1 1 3

SEYMOUR 1 Family Condo All Sales

2 0 2 2 6

SOUTHBURY 1 Family Condo All Sales

2 6 3 8 6 6

WALLINGFORD 1 Family Condo All Sales

3 9 2 1 6 9

WATERBURY 1 Family Condo All Sales

8 2 1 5 1 20

WEST HAVEN 1 Family Condo All Sales

4 5 8 6 2

WOLCOTT 1 Family Condo All Sales

2 4 2 2 9

WOODBRIDGE 1 Family Condo All Sales

2 5 0 2 5

13 0 15

-48.00% N/A -40.00%

-8.76% $360,000 N/A N/A -8.76% $359,000

NEW HAVEN COUNTY 1 Family Condo All Sales

8 28 801 2 26 244 1 ,270 1,292

6.08% 14.47% 8.74%

0.00% 9.72% 4.21%

$216,800 $130,000 $191,500

$220,000 $142,000 $195,000

1.48% 9.23% 1.83%

OCTOBER 2017 | THE COMMERCIAL RECORD | 29

TRENDLINES

NEW LONDON COUNTY SALES REPORT

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

AUG. 2016

20 0 24

12 0 19

-40.00% N/A -20.83%

$197,450 N/A $158,800

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

BOZRAH 1 Family Condo All Sales

4 0 5

2 0 2

-50.00% N/A -60.00%

N/A -100.00% $180,000 N/A N/A N/A N/A -100.00% $177,500

$166,250 -7.64% N/A N/A $167,500 -5.63%

COLCHESTER 1 Family Condo All Sales

2 5 5 3 6

24 4 31

-4.00% -20.00% -13.89%

137 16 173

146 16 185

6.57% 0.00% 6.94%

$258,000 $210,000 $246,000

$257,500 $172,000 $247,000

-0.19% -18.10% 0.41%

$240,000 $207,500 $234,900

$242,500 1.04% $184,500 -11.08% $230,000 -2.09%

27 8 39

50.00% 100.00% 56.00%

139 37 215

144 44 227

3.60% 18.92% 5.58%

$270,000 $239,000 $280,000

$297,400 $145,288 $277,900

10.15% -39.21% -0.75%

$277,000 $179,000 $268,000

$299,500 $199,950 $271,500

EAST LYME 1 Family Condo All Sales

1 8 4 2 5

8.12% 11.70% 1.31%

FRANKLIN 1 Family Condo All Sales

4 0 5

1 0 2

-75.00% N/A -60.00%

17 0 21

14 0 20

-17.65% N/A -4.76%

$176,250 N/A $187,500

N/A -100.00% $187,500 N/A N/A N/A N/A -100.00% $200,000

$200,500 6.93% N/A N/A $163,250 -18.38%

7 0 8

12 1 21

71.43% N/A 162.50%

41 6 71

58 8 97

41.46% 33.33% 36.62%

$148,400 N/A $144,200

$143,000 -3.64% $131,500 N/A N/A $99,950 $120,000 -16.78% $100,000

$160,000 21.67% $46,097 -53.88% $125,000 25.00%

3 2 1 0 5 1

27 13 51

-15.63% 30.00% 0.00%

194 38 285

236 62 377

21.65% 63.16% 32.28%

$258,500 $127,650 $209,000

$235,000 $132,000 $190,000

$228,750 $138,500 $217,500

1 8 0 1 9

14 0 18

-22.22% N/A -5.26%

62 0 72

77 1 108

24.19% N/A 50.00%

$235,000 N/A $230,000

$279,500 18.94% $197,450 N/A N/A N/A $279,500 21.52% $188,450

$192,000 -2.76% N/A N/A $177,500 -5.81%

2 6 1 3 1

17 -34.62% 0 -100.00% 25 -19.35%

164 9 194

138 7 178

$237,500 N/A $244,000

$225,000 N/A $220,000

$225,000 $64,900 $220,000

GRISWOLD 1 Family Condo All Sales

GROTON 1 Family Condo All Sales

-9.09% 3.41% -9.09%

$233,000 $124,500 $201,000

-1.82% 11.24% 8.21%

LEBANON 1 Family Condo All Sales

LEDYARD 1 Family Condo All Sales

-15.85% -22.22% -8.25%

-5.26% $201,434 N/A $46,000 -9.84% $200,000

11.70% 41.09% 10.00%

LISBON 1 Family Condo All Sales

5 0 6

2 0 5

-60.00% N/A -16.67%

29 0 43

27 0 39

-6.90% N/A -9.30%

$165,000 N/A $172,450

N/A -100.00% $172,900 N/A N/A N/A $160,000 -7.22% $169,900

$189,900 9.83% N/A N/A $187,000 10.06%

7 0 9

1 0 1

-85.71% N/A -88.89%

24 0 35

16 0 28

-33.33% N/A -20.00%

$341,460 N/A $376,000

N/A -100.00% $408,000 N/A N/A N/A N/A -100.00% $376,000

$389,500 -4.53% N/A N/A $389,000 3.46%

24 1 28

4.35% N/A 0.00%

122 4 160

161 7 199

31.97% 75.00% 24.38%

$170,000 N/A $167,000

$165,600 N/A $164,950

98 27 218

120 24 208

22.45% -11.11% -4.59%

$141,400 $179,900 $137,450

$149,900 $93,500 $139,550

48 0 66

50 0 72

$238,900 N/A $211,314

$308,000 28.92% $240,000 N/A N/A N/A $266,000 25.88% $230,314

$265,000 10.42% N/A N/A $259,500 12.67%

142 39 244

204 38 328

$155,000 $135,500 $135,000

$133,250 $103,450 $120,000

LYME 1 Family Condo All Sales

MONTVILLE 1 Family Condo All Sales

2 3 0 2 8

-2.59% $180,750 N/A $57,000 -1.23% $174,500

$185,000 $52,758 $172,000

2.35% -7.44% -1.43%

NEW LONDON 1 Family Condo All Sales

1 4 3 3 0

23 8 40

64.29% 166.67% 33.33%

6.01% -48.03% 1.53%

$145,000 $132,000 $131,000

$146,600 1.10% $93,500 -29.17% $137,100 4.66%

NORTH STONINGTON 1 Family Condo All Sales

5 0 8

6 0 11

20.00% N/A 37.50%

1 6 7 3 0

29 10 51

81.25% 42.86% 70.00%

4.17% N/A 9.09%

NORWICH 1 Family Condo All Sales

43.66% -2.56% 34.43%

30 | THE COMMERCIAL RECORD | OCTOBER 2017

$95,500 $84,000 $86,500

62.30% 61.31% 56.07%

$125,000 $102,500 $105,500

6.60% 0.93% 13.74%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

OLD LYME 1 Family

7

17

Condo

0

0

1 0

19

1 Family

6

10

Condo

1

All Sales

142.86%

50

65

30.00%

4

1

-75.00%

90.00%

71

81

14.08%

$299,500

$330,000

10.18%

$333,000

$350,000

5.11%

66.67%

35

42

20.00%

$209,100

$210,000

0.43%

$214,900

$215,500

0.28%

0 -100.00%

1

0

-100.00% 19.15%

$190,550

$210,000

10.21%

$208,200

$202,500

$300,000

$230,900

-23.03%

$287,500

$241,000 -16.17%

N/A

$315,000 N/A

$330,000 N/A

4.76%

$336,500

N/A $252,500

$350,000

4.01%

N/A -100.00%

PRESTON

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

8

10

25.00%

47

56

-2.74%

1 Family

5

5

0.00%

24

31

29.17%

Condo

0

0

2

0

-100.00%

5

7

40.00%

35

45

28.57%

$300,000

$200,000

-33.33%

$249,900

$224,000 -10.36%

1 Family

4

5

25.00%

23

21

-8.70%

$149,450

$210,900

41.12%

$190,000

$150,000 -21.05%

Condo

0

0

0

1

4

5

25.00%

27

29

7.41%

$149,450

$210,900

41.12%

$172,000

$149,000 -13.37%

23

53.33%

113

145

28.32%

$377,000

$374,500

-0.66%

$325,000

$320,000

0 -100.00%

10

17

70.00%

N/A $270,000

$293,000

8.52% 0.35%

SALEM

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

SPRAGUE

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

STONINGTON 1 Family

1 5

Condo

1

All Sales

2 6

N/A

N/A

-1.54%

32

23.08%

186

213

14.52%

$285,000

$340,000

19.30%

$286,500

$287,500

25.00%

31

23

-25.81%

$156,000

$157,000

0.64%

$165,000

$141,500 -14.24%

0

0

-16.67%

38

31

VOLUNTOWN 1 Family

4

5

Condo

0

0

6

5

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

-18.42%

$117,500

$157,000

33.62%

$149,900

$140,000

-6.60%

$220,000

$251,200

14.18%

$215,000

$232,000

7.91%

WATERFORD 1 Family

3 5

34

-2.86%

211

213

0.95%

Condo

2

5

150.00%

28

32

14.29%

3 9

41

5.13%

268

272

1.49%

$216,000

$235,000

8.80%

$199,000

$222,000

11.56%

10.00% 1,724

All Sales

N/A

$124,000

N/A $145,750

$124,500 -14.58%

NEW LONDON COUNTY 1 Family

2 80

308

Condo

3 4

50

3 89

444

All Sales

1,943

12.70%

$230,000

$225,000

-2.17%

$211,000

$219,900

4.22%

221

258

16.74%

$133,000

$133,500

0.38%

$132,000

$135,000

2.27%

14.14% 2,493

2,812

12.80%

$213,500

$199,750

-6.44%

$190,000

$196,500

3.42%

47.06%

LOOKING FOR MORE? Our online real estate records offer a much deeper look into your markets and neighborhoods. Every Thursday, CommercialRecord.com is updated with the most recent sales, foreclosure, mortgage, and credit information available from The Warren Group. Our weekly digital records are available in a convenient, searchable PDF format through 2009. Each PDF is organized by county, town, and street to make it easy to find the exact data you need to make informed business decisions. As a bonus, all subscribers to The Commercial Record get access to similar weekly data from Rhode Island. Just navigate to commercialrecord.com, log in, click on Rhode Island Records under the Real Estate Transactions tab, and get busy putting The Commercial Record to work for you.

OCTOBER 2017 | THE COMMERCIAL RECORD | 31

TRENDLINES

TOLLAND COUNTY SALES REPORT

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

ANDOVER 1 Family Condo All Sales

3 0 4

5 0 9

66.67% N/A 125.00%

26 0 33

22 0 30

-15.38% N/A -9.09%

$230,000 N/A $226,000

$200,000 -13.04% $239,500 N/A N/A N/A $202,000 -10.62% $230,000

$268,250 12.00% N/A N/A $231,000 0.43%

3 0 5

8 0 9

166.67% N/A 80.00%

36 0 44

36 0 45

0.00% N/A 2.27%

$234,500 N/A $269,000

$251,500 N/A $243,000

7.25% $250,000 N/A N/A -9.67% $252,500

$237,500 -5.00% N/A N/A $243,000 -3.76%

8 0 8

0.00% N/A -27.27%

49 0 55

53 2 63

8.16% N/A 14.55%

$222,500 N/A $215,000

$310,000 39.33% $206,000 N/A N/A N/A $310,000 44.19% $202,500

$239,900 16.46% N/A N/A $220,000 8.64%

22 1 30

22.22% 0.00% 57.89%

94 8 131

122 9 165

29.79% 12.50% 25.95%

$224,000 N/A $220,000

$228,500 N/A $215,500

$182,250 -8.88% $124,500 6.91% $173,000 -13.50%

8 5 1 8

25 7 37

212.50% 40.00% 105.56%

70 18 123

93 28 154

32.86% 55.56% 25.20%

$226,000 $269,000 $211,000

$271,000 $239,500 $266,000

2 0 1 2 3

19 1 22

-5.00% 0.00% -4.35%

102 3 115

99 10 115

-2.94% 233.33% 0.00%

$267,750 N/A $259,900

$279,900 N/A $272,450

1 9 9 3 3

14 9 27

-26.32% 0.00% -18.18%

97 40 159

101 32 158

4.12% -20.00% -0.63%

$249,000 $220,000 $230,000

$219,000 $221,500 $221,500

1 3 0 1 6

19 0 20

46.15% N/A 25.00%

70 5 90

73 3 91

4.29% -40.00% 1.11%

$274,500 N/A $269,500

$271,000 N/A $272,000

1 5 0 2 5

13 4 19

-13.33% N/A -24.00%

74 7 129

75 9 118

3 5 2 3 8

28 -20.00% 0 -100.00% 30 -21.05%

122 9 146

138 4 163

4 0 4

8 0 9

169 55 273

178 56 305

21 0 28

32 2 37

8.05% 934 3.23% 145 4.86% 1,330

1,030 155 1,453

BOLTON 1 Family Condo All Sales

COLUMBIA 1 Family Condo All Sales

8 0 1 1

COVENTRY 1 Family Condo All Sales

1 8 1 1 9

2.01% $200,000 N/A $116,450 -2.05% $200,000

ELLINGTON 1 Family Condo All Sales

19.91% -10.97% 26.07%

$232,450 $122,500 $227,500

$263,000 $116,750 $245,500

13.14% -4.69% 7.91%

HEBRON 1 Family Condo All Sales

4.54% $256,000 N/A $256,000 4.83% $245,400

$255,000 -0.39% $140,500 -45.12% $246,000 0.24%

MANSFIELD 1 Family Condo All Sales

-12.05% 0.68% -3.70%

$220,000 $249,000 $230,000

$219,000 -0.45% $190,000 -23.69% $216,500 -5.87%

SOMERS 1 Family Condo All Sales

-1.28% $277,000 N/A $349,900 0.93% $272,250

$271,000 $338,000 $270,000

-2.17% -3.40% -0.83%

STAFFORD 1 Family Condo All Sales

1.35% $215,000 28.57% -8.53% $100,000

$193,000 $51,177 $155,000

-10.23% $209,000 N/A $125,000 55.00% $165,000

$158,000 -24.40% $65,203 -47.84% $128,500 -22.12%

$270,500 v $247,750

-1.64% $245,500 N/A $89,900 -11.28% $247,250

$252,500 $139,000 $245,500

TOLLAND 1 Family Condo All Sales

13.11% -55.56% 11.64%

$275,000 N/A $279,250

2.85% 54.62% -0.71%

UNION 1 Family Condo All Sales

0 0 0

1 0 2

2 7 1 3 4 9

23 10 42

N/A N/A N/A

100.00% N/A 125.00%

N/A N/A N/A

N/A N/A N/A

N/A $196,250 N/A N/A N/A $196,250

$253,450 29.15% N/A N/A $242,000 23.31%

VERNON 1 Family Condo All Sales

-14.81% -23.08% -14.29%

5.33% 1.82% 11.72%

$181,500 $158,000 $168,000

$200,000 $106,250 $172,500

10.19% -32.75% 2.68%

$175,900 $118,500 $162,000

$180,000 $111,000 $169,900

2.33% -6.33% 4.88%

52.38% N/A 32.14%

$292,500 N/A $281,250

$163,000 -44.27% $223,000 N/A N/A N/A $131,500 -53.24% $221,500

$200,000 -10.31% N/A N/A $199,000 -10.16%

10.28% 6.90% 9.25%

$240,500 $220,000 $230,000

$238,950 $122,750 $221,500

$219,000 -0.45% $121,000 -14.03% $200,000 -4.76%

WILLINGTON 1 Family Condo All Sales

5 0 6

3 0 4

-40.00% N/A -33.33%

TOLLAND COUNTY 1 Family Condo All Sales

1 74 3 1 2 47

188 32 259

32 | THE COMMERCIAL RECORD | OCTOBER 2017

-0.64% -44.20% -3.70%

$220,000 $140,750 $210,000

TRENDLINES

WINDHAM COUNTY SALES REPORT

NUMBER OF SALES AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

AUG. 2016

AUG. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

26 0 36

22 2 34

-15.38% N/A -5.56%

$240,000 N/A $240,000

$182,000 -24.17% $195,500 N/A N/A N/A $182,000 -24.17% $172,500

$195,000 -0.26% N/A N/A $205,500 19.13%

76 4 111

82 0 109

$215,000 N/A $215,000

$216,000 N/A $209,500

$205,500 0.37% N/A - 100.00% $189,000 1.61%

ASHFORD 1 Family Condo All Sales

5 0 5

7 0 7

40.00% N/A 40.00%

BROOKLYN 1 Family Condo All Sales

1 1 1 1 7

11 0.00% 0 -100.00% 14 -17.65%

7.89% -100.00% -1.80%

0.47% $204,750 N/A $229,000 -2.56% $186,000

CANTERBURY 1 Family Condo All Sales

8 0 1 5

11 0 14

37.50% N/A -6.67%

36 0 60

39 0 58

8.33% N/A -3.33%

$212,450 N/A $185,000

$209,900 -1.20% $215,250 N/A N/A N/A $217,450 17.54% $185,250

$195,000 -9.41% N/A N/A $191,750 3.51%

3 0 4

1 0 2

-66.67% N/A -50.00%

16 0 23

21 0 28

31.25% N/A 21.74%

$167,840 N/A $131,090

N/A -100.00% $168,870 N/A N/A N/A N/A -100.00% $153,900

$155,000 -8.21% N/A N/A $163,500 6.24%

3 0 6

50.00% N/A 50.00%

12 0 22

10 0 20

-16.67% N/A -9.09%

N/A N/A $131,500

$210,000 N/A $211,000 N/A N/A N/A $190,500 44.87% $180,000

$205,000 -2.84% N/A N/A $191,000 6.11%

2 0 4

N/A N/A 33.33%

12 0 30

14 0 26

16.67% N/A -13.33%

N/A N/A $389,000

N/A N/A $197,000 N/A N/A N/A $254,950 -34.46% $123,200

$193,500 -1.78% N/A N/A $179,000 45.29%

-23.81% -75.00% -17.65%

116 11 176

126 17 201

8.62% 54.55% 14.20%

$145,000 $157,700 $142,450

$137,000 -5.52% N/A -100.00% $141,000 -1.02%

$164,000 9.74% $120,000 -14.22% $160,000 9.59%

12 -20.00% 0 -100.00% 15 -25.00%

85 2 121

106 6 147

24.71% 200.00% 21.49%

$145,000 N/A $142,500

$124,000 -14.48% $135,000 N/A N/A N/A $100,000 -29.82% $140,000

-20.59% N/A -15.09%

$241,500 N/A $240,000

$238,950 N/A $229,900

CHAPLIN 1 Family Condo All Sales

EASTFORD 1 Family Condo All Sales

2 0 4

HAMPTON 1 Family Condo All Sales

0 0 3

KILLINGLY 1 Family Condo All Sales

2 1 4 3 4

16 1 28

$149,450 $139,900 $146,000

PLAINFIELD 1 Family Condo All Sales

1 5 1 2 0

$151,950 $86,000 $148,000

12.56% N/A 5.71%

-1.06% $248,000 $250,000 N/A -4.21% $240,000 $250,000

0.81% N/A 4.17%

POMFRET 1 Family Condo All Sales

8 0 1 1

6 0 7

-25.00% N/A -36.36%

34 0 53

27 0 45

1 0 2 1 4

13 2 23

30.00% 0.00% 64.29%

61 24 116

74 22 133

3 0 3

-25.00% N/A -25.00%

17 0 19

19 0 27

11.76% N/A 42.11%

$171,000 N/A $171,000

$178,000 N/A $178,000

4.09% $172,000 N/A N/A 4.09% $172,000

$175,000 1.74% N/A N/A $160,000 -6.98%

7 16.67% 0 -100.00% 10 25.00%

36 2 50

39 2 51

8.33% 0.00% 2.00%

$174,900 N/A $158,450

$155,000 -11.38% $181,450 N/A N/A N/A $152,000 -4.07% $170,450

$205,000 12.98% N/A N/A $179,000 5.02%

1 6 1 2 2

15 -6.25% 0 -100.00% 20 -9.09%

95 4 120

86 2 115

-9.47% -50.00% -4.17%

$217,500 N/A $187,500

$235,000 N/A $192,500

$192,000 3.78% N/A - 100.00% $179,000 -1.24%

2 1 0 2 5

16 2 23

-23.81% N/A -8.00%

98 4 135

109 9 175

11.22% 125.00% 29.63%

$135,000 N/A $130,000

$151,000 11.85% $139,000 N/A N/A $119,950 $128,000 -1.54% $130,000

$130,000 $109,500 $128,000

-6.47% -8.71% -1.54%

25 1 33

31.58% -66.67% 13.79%

75 10 125

90 8 125

20.00% -20.00% 0.00%

$235,000 $62,500 $235,000

$309,000 31.49% N/A -100.00% $270,000 14.89%

$240,000 $128,000 $220,000

$275,000 $146,750 $234,000

14.58% 14.65% 6.36%

-0.67% 795 -53.85% 61 -2.79% 1,197

864 68 1,294

8.68% 11.48% 8.10%

$180,000 $136,000 $172,000

$182,250 $132,200 $178,000

$170,000 $139,900 $159,552

$175,000 $139,875 $168,000

2.94% -0.02% 5.29%

PUTNAM 1 Family Condo All Sales

21.31% $162,000 $155,000 -8.33% 14.66% $171,000 $157,500

-4.32% $149,000 N/A $161,250 -7.89% $140,000

$155,000 $186,450 $155,000

4.03% 15.63% 10.71%

SCOTLAND 1 Family Condo All Sales

4 0 4

STERLING 1 Family Condo All Sales

6 1 8

THOMPSON 1 Family Condo All Sales

8.05% $185,000 N/A $137,450 2.67% $181,250

WINDHAM 1 Family Condo All Sales

WOODSTOCK 1 Family Condo All Sales

1 9 3 2 9

WINDHAM COUNTY 1 Family Condo All Sales

1 49 1 3 2 15

148 6 209

1.25% -2.79% 3.49%

OCTOBER 2017 | THE COMMERCIAL RECORD | 33

FAIRFIELD COUNTY GOSSIP REPORT

1

Greenwich

Address: 24 Hendrie Lane, Greenwich Price: $9,000,000 Size: 6,000 square feet on 1.6 acres Buyer: House of Monty Hendrie Seller: Daniel Goggin and Sheila Goggin Sold: 8/29/17

4

NE Properties Sold: 8/25/17

5

3

Greenwich

Address: 465 Round Hill Road, Greenwich Price: $7,125,000 Size: 10,724 square feet on 4.1 acres Buyer: 465 RHR LLC Seller: Linda Ruderman Sold: 9/7/17

Darien

Address: 7 North Road, Darien Price: $5,600,000 Size: 5,129 square feet on 0.48 acres Buyer: Jay Wilkins and McCartney Wilkins Seller: Mark Timney and Michelle Timney Sold: 9/1/17

Greenwich

Address: 10 Taconic Road, Greenwich Price: $5,000,500 Size: 9,578 square feet on 2 acres Buyer: John McIntyre Seller: Margaret Schaftel and Michael Schaftel Agent: Elizabeth Dagnino, Berkshire Hathaway

2

1 2 4 5

Greenwich

3 Address: 38 Keofferam Road, Greenwich Price: $4,200,000 Size: 4,700 square feet on 0.35 acres Buyer: Helena Herrero and William Owens Seller: Heather Schimenti Agent: Susan Schruth, Berkshire Hathaway NE Properties

The home in this month’s number four spot is located a chip shot away from the Burning Tree Country Club. This seven-bedroom, nine-bathroom home was custom built in 2001 and has 14 rooms in all. Hardwood floors were installed throughout the first floor in 2016. It comes with a surround-sound media room, a heated, in-ground pool and access to community tot lots and tennis courts.

34 | THE COMMERCIAL RECORD | OCTOBER 2017

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