Affiliations

National Association of Realtors

Connecticut Association of Realtors

Greenwich Association of Realtors

Designations: ABR, ASP, CIPS, CRB,

e-Pro, PSCS, SRES

Contact Information:

203.249.9603

Kaye@KayeLewis.com

www.LiveLoveGreenwich.com

189-191 Mason Street

Greenwich, CT 06830

This year, the Greenwich real estate market got off to a slower

start than anticipated, due in large part to two factors: the

excessively cold temperatures we experienced in the months of

February and March, which typically signify the beginning of the

spring market, and the slowdown of executed contracts in the 4th

quarter of 2014. The cold weather resulted in many homes

coming on the market later than usual, delaying buyer activity

slightly. The lower number of contracts in the 4th quarter than in

previous years resulted in fewer closings in January.

The good news is that despite these early setbacks, the market

recovered quickly, and the first half of the year ended strong.

June 2015 saw more single family home sales than any single month in over TEN YEARS! After a considerable decrease in

activity in Riverside in 2014, the first half of 2015 saw an increase

of over 24.4% in the number of home sales and 12.1% in the

average sale price. Cos Cob has been growing in popularity over

the past few years, and this trend has continued in 2015 with the

number of sales up nearly 82% from the first half of 2014 and the

average sale price up 7.5%.

As sales activity increased, many homes entered into multiple bid

situations. When multiple bids become a common occurrence, it

tells a lot about the market that both buyers and sellers need to

consider: 1) It shows that there are a lot of active buyers in the

market, 2) It shows that these buyers are well-educated about

what makes a home a good value, 3) It shows the benefits of

listing a home at a price that is a value, as it results in the home

often selling for above the list price in much less time..

Area/Zip Code # of Solds

1st Half 2015

# of Solds

1st Half 2014

Average Sale Price

1st Half 2015

Average Sale Price

1st Half 2014

Greenwich/06830 89 94 $3,149,529 $2,590,490

Greenwich/06831 62 67 $2,465,921 $3,641,912

Cos Cob/06807 40 22 $1,331,163 $1,238,000

Old Greenwich/06870 50 49 $2,010,305 $1,962,931

Riverside/06878 56 45 $2,715,879 $2,288,011

Total 297 277 $2,488,371 $2,577,188

Greenwich Mid Year Review 2015

After a slow start, the first half of 2015 finished strong, up 7.22% over the first half of 2014. While the overall average sale

price was down 3.45%, the areas of Old Greenwich, Riverside, and Cos Cob all saw increases in the average sale price as well

as in volume. Greenwich (zip codes 06830 and 06831) has slowed down slightly since last year, yet this appears to be isolated

mainly to the upper tier of the market, $10 million and up. As has been the trend for the past few years, properties priced at

$2 Million and under continue to perform well throughout all areas of town.

For updated information on sales activity and statistics, visit

The Lewis Report at LiveLoveGreenwich.com. The Lewis

Report is a weekly report of most recent residential real

estate sales activity in Greenwich.

If you, your friends, family members or colleagues are

considering a move in 2015, please give me a call.

Kaye Lewis

Coldwell Banker Previews

189-191 Mason Street

Greenwich, CT 06830

Greenwich Mid Year Review 2015

By Kaye Lewis

Kaye Lewis Associate Broker Coldwell Banker Previews Kaye@KayeLewis.com

(203)249-9603

www.LiveLoveGreenwich.com

An overview of Greenwich Home Sales Statistics for the first half of 2015:

• 297 Single Family Homes Sold

• 321 Executed Contracts

• Average Sale Price: $2,488,371

• Median Sale Price: $1,875,000

• Average Days on Market: 180

• Average Sales to List Price ratio: 94.39%

• 93 Condominiums/Co-Ops Sold

• 98 Executed Contracts

• Average Sale Price: $1,101,838

• Median Sale Price: $830,000

• Average Days on Market: 154

• Average Sales to List Price ratio: 96.30%

BELLE HAVEN WATERFRONT

GREENWICH 06830 | $12,000,000

Sales volume was up about 6.89% since 2015, with 296 single

family homes sold in the first half of 2015 vs. 277 in the same

period of 2014. However, the average single family home price

is down a slight 3.4% to $2,490,507. Pending sales on single

family homes are also up slightly over the first half of 2014

with 321 executed contracts in 2015 vs. 315 in the first half of

2014. Condo and co-op sales in the first half of 2015 were up

9.41% in comparison to 2014, with 93 in 2015 and 85 in 2014.

The average sales price of condos and co-ops in 2014 was up a

staggering 37.7% over 2014 at $1,101,838, and the median

sales price was up 24.8% to $830,000. Pending sales on condos

and co-ops is also up 6.5% in the first half of 2015 with 98

executed contracts.

The Greenwich MLS Sales to List Price ratio is up from 93.37% in the first half of 2014 to 94.39% in the first

half of 2015, showing that successful sellers are continuing to price their homes to sell and educated buyers

recognize this. Additionally, the percentage of homes that required price reductions before going to contract

has also dropped from 39% of homes sold in the first half of 2014 to only 36% of homes sold in 2015. Average

days on market is up about 5.9% to 181 days. The median days on market, however, is only 123 days, showing

that more than half of the homes sold in the first half of 2015 went to contract in approximately 4 months. The

Median Sales Price is down 6.7%, with a median price of $1,875,000 in the first half of 2015 vs. $2,000,000 in

the same period for 2014. Considering the median list price of currently active properties, as of July 2, 2015, is

$3,195,000, this shows that the lower tier of the market continues to perform well and is in a balanced to seller’s

market, while the upper tier of the market has been slower to recover and is still experiencing a buyer’s market.

A SELECTION OF HOMES ON THE MARKET IN GREENWICH AND BEYOND:

COS COB 06807| $1,895,000

RIVERSIDE 06878 | $1,695,000 STAMFORD 06902| $1,050,000

GREENWICH 06831| $3,550,000

If your home is currently listed for sale or you are currently under contract with a broker, this is not intended as solicitation.

A SELECTION OF HOMES SOLD IN THE 1st HALF OF 2015:

COS COB 06807 | Sold for $1,100,000 GREENWICH 06830 | Sold for $1,132,500

Single Family Homes Condos & Co-Ops

2014 2015 % Change 2014 2015 % Change

Unit Sales 277 297 +7.22% 85 93 +9.41%

Average Sales Price $2,577,188 $2,488,371 -3.45% $800,045 $1,101,838 +37.7%

Median Sales Price $2,000,000 $1,875,000 -6.7% $665,000 $830,000 +24.8%

Pending 315 321 +1.9% 92 98 +6.5%

Days on Market 170 180 +5.9% 163 154 -5.52%

List Price to Sales Price

Ratio 93.37% 94.39% +1.1% 95.79% 96.30% +0.53%

Sold Homes Requiring

Price Reduction 39% 36% -3% 41.2% 40.9% -0.3%

All statistics are taken form the Greenwich Multiple Listing Service using only in-town properties.