We have 27 open houses this week in Greenwich and the majority are grouped in Riverside, Old Greenwich, and Cos Cob, so for once you could actually see most of the open houses.
Prices vary from $295,000 for a co-op in Putnam Park to $4.75 million for a house on Bedford Road in the backcountry. You can find the list of Greenwich open houses below, see this week’s interactive map here and find detailed instructions for its use here. If you want to see details on any house, just click on the map pin, and then the five digit MLS number. Once again thanks to Prudential agent Rob Pulitano for his help in preparing the open house list and interactive map.
JULY 2012 GREENWICH REAL ESTATE MARKET REPORT
- Sales Way up in July Most Since 2007
- High End Market Recovers Sharply
- Mid-Country Sales Pick Up
Real estate sales in Greenwich last month were back to pre-recession times. The GMLS reported 74 single-family homes sold. This is 26 more than in July 2011 and 10 more than the 6-year average from 2006 to 2011. In addition to the 74 July sales reported by the Greenwich MLS listings, we probably have another half dozen or more sales that will be reported in the Town Clerk's office. If we have 11 additional sales reported (we had 10 additional sales in June) then we will tie the 2007 record.
Greenwich High-End Market Shows Strong Rebound
The biggest change we saw in 2012 was the spurt in sales under $1 million up by 30% most months. The demand is definitely out there and well-priced houses under $1 million are sold quickly.
At the other end of the market, sales over $3 million have been slow for most of the year, but they got better in June and really picked up in July. If you look at the accompanying chart of months of supply, every price category above $1 million had a major drop in months of supply as sales exceeded new listings. The biggest drop in supply was in what had been our slowest market segment. In June, we had 33 months of supply of house priced from $5 – 10 million. As of the end of July we were down to 22 months of supply for this price range. If you took the 8 sales we had in July between $5 and 10 million and annualized them, we would have only 15 months of supply or half of what we had only a month ago.
OG, Riverside Hot, Cos Cob doing well and Mid-Country Home Sales Doing Much Better
If you look at the accompanying map of July sales you can see Old Greenwich and Riverside are densely packed with dots. Cos Cob is almost as densely populated as supply restrictions in SOTRA (Old Greenwich and Riverside south of the Metro-North tracks) are encouraging people to look in nearby neighborhoods. Mid-Country also seems to be a beneficiary of the SOTRA listing shortage as high-end sales increased here also.
The big question is will this increased market activity and high end sales continue in August and beyond. If they do then the market will be much different soon.
GREENWICH OPEN HOUSE LIST FOR SUNDAY, AUGUST 5, 2012
Address
Town
List Price
Open House Time
Broker
25 Oval Ave.
Riverside
$7,000
2-4 PM
Raveis
9 S. End Ct.
Old Greenwich
$9,000
2-5 PM
Raveis
157 Putnam Park
Greenwich
$295,000
1-4 PM
Prudential
24 Wessels Pl.
Greenwich
$541,000
2-4 PM
Raveis
27 Bible St.
Cos Cob
$549,000
1-4 PM
Prudential
80 Laddins Rock Rd.
Old Greenwich
$579,000
11-2 PM
Prudential
47 Lafayette Pl. #4-I
Greenwich
$639,000
1-4 PM
Prudential
60 Valley Rd #A
Cos Cob
$645,000
2-4 PM
Raveis
51 Forest Ave.
Old Greenwich
$695,000
1-4 PM
FF Realty
19 Wescott St.
Greenwich
$779,000
1-3 PM
Coldwell Bnkr
20 West End Ave. (Rear)
Old Greenwich
$950,000
2-5 PM
Raveis
20 West End Ave. (Rear)
Old Greenwich
$950,000
2-5 PM
Raveis
349 Riversville Rd.
Greenwich
$1,049,000
1-4 PM
Raveis
86 Lower Cross Rd.
Greenwich
$1,349,000
1-4 PM
Weichert
19 Pintail Rd.
Greenwich
$1,399,000
3-5 PM
Prudential
25 Oval Av
Riverside
$1,595,000
2-4 PM
Raveis
6 Finney Knoll Ln.
Riverside
$1,850,000
1-3 PM
Shore & Cntry
9 S. End Ct.
Old Greenwich
$1,999,000
2-5 PM
Raveis
191 North St.
Greenwich
$2,400,000
1-3 PM
Coldwell Bnkr
39 Shore Rd.
Old Greenwich
$2,895,000
2-4 PM
Greenwich Fine Prop
39 Willow Rd.
Riverside
$2,950,000
2-4 PM
Coldwell Bnkr
35 Shore Rd.
Old Greenwich
$2,995,000
2-4 PM
Greenwich Fine Prop
1 Tyler Ct.
Riverside
$3,190,000
2-4 PM
Weichert
38 Meadowbank Rd.
Old Greenwich
$3,300,000
1-3 PM
Raveis
623 Steamboat Rd. #A
Greenwich
$3,495,000
2-4 PM
Ogilvy
623 Steamboat Rd. #B
Greenwich
$4,450,000
2-4 PM
Ogilvy
212 Bedford Rd.
Greenwich
$4,775,000
1-3 PM
Prudential
