Greenwich, CT Residential Real Estate Blog and Analysis: November 15th

Visit www.greenwichrealestateguy.com/blog for a more friendly view as my charts, graphs, and formatting of the open house list with links does not transfer as well. 

The above pictured shingle style home is located at 26 Glen Avon Drive.  Glen Avon is a beautiful quiet street in Riverside.  It makes a horseshoe off of Club Road, which is the road where the Riverside Yacht Club is located.  Not only is the location perfect for quiet walks overlooking the water at sunset, but the house stands out as well.  The home sits on .84 of an acre making it an oversized lot.  I envision this house being the center of all of the kids in the neighborhood.  The back yard has it's own basketball court, and still room for a great patio and lawn, perfect for entertaining.  Inside the home boasts six bedrooms, five full baths and one half bath, as well as three fireplaces.  The master suite holds one of the fireplaces, as well as his and her walk in closets, a steam shower, and separate vanities.  The home is listed as 5,371 s.f. but that does not include the lower level which has a walk out playroom, bath room, and mud room.  While walking through the home it just felt right, from envisioning the neighborhood kids shooting hoops, to walking out your door to a picturesque walk, it left an impression.  The home is listed at $4.85M.

Currently, we have 596 properties on the market, continuing the trend of declining inventory over the last several weeks.  If you look at my blog from the end of September we had 656 properties, which is an 10 percent decrease in total inventory in the last month.  We continue to see the 0-$3M get more competitive while the over $3M range adds more inventory.  When looking below at the charts, I feel this shows how much better our market is this year over the same time last year.  When looking specifically at the October numbers, we had 98 new properties this year, compared to 92 new properties in October of last year.  As you can see not too much of a difference (only 6%).  However, when looking at sold, we had 49 properties sold last year in October, and have sold 68 this October, a resounding increase (38%). 

If you did not read last week's post I am still very excited to announce that I have been offered an incredible opportunity to sell real estate for Houlihan Lawrence.  I have been very impressed with the marketing capabilities of Houlihan, as well as their strategic partnerships to help ensure clients are getting their homes marketed as widely as possible.  Read an article that appeared in the Greenwich Patch last month when Houlihan Lawrence entered the marketplace; Houlihan Lawrence CT Presence.  I would be happy to discuss the benefits of Houlihan, and how I can help you buy or sale properties.  If you would like a price evaluation or set up an introductory appointment, please do not hesitate to call or email.  

Below are the Sold Price to List Price percentage for each of the four towns as well as some neighborhood data:

Sold Price vs. List Price

Neighborhood Data

Please let me know if you would like me to provide customized information or statistics for you based on your criteria.

**The information on the featured property and all statistical information is from the Greenwich MLS.

**All opinions garnered from the statistics are my own

Once again we seem to be looking like we will outpace the last few years in November as well.  Last year we had a huge push in sold properties in November and December because of the uncertainty in the presidential elections and the fiscal cliff.  However, we seem to be keeping up with November.

In the first week and a half of November we have had 33 new properties and sold 21 properties.  Both are trending higher than recent years.

In an effort to define the different markets as a good time to buy or sale I believe one needs to look at the months on average it would take to sell through the inventory we have.  I have broken this down by June of 2012 (which is the high in my opinion) to January of 2013 (the low in my opinion) then will add each month as we come to them.   

** to calculate months on average in this chart I used year to date sold properties in each price range.

There are two individuals I feel most confident about when it comes to home mortgages.  One in Manhattan and one in Greenwich.  They are Jeff Ihrig of First Republic in Manhatan, and in Greenwich I prefer Treena David-Chirico of Wells Fargo.

Jeff can be reached at 646-372-5181.  Treena's phone number is 203-618-3923.  You can go to her website to input your specific information to receive rates.  Her website is www.wfhm.com/treena-david-chirico.