Carolyn Sarsen 203.253.0441

Jack Sarsen 203.253.0476

sarsen@compass.com

@jsarsen

Greenwich Real Estate Market Report

October 2018

October 2018 Summary

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Single Family Homes Sold 37

Average Original Sale Price $2,560,023

Average List Price $2,361,591

Average Sale Price $2,225,829

Average Days on Market 156

The Greenwich Real Estate Market Report, developed by the Sarsen Team at Compass, provides monthly statistics and commentary on the previous month’s single-family home sales in Greenwich, Cos Cob, Riverside, and Old Greenwich.

Please contact us with any questions or comments at sarsen@compass.com

Source: Greenwich MLS

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The average price of a Greenwich single-family home sold year-to-date through October 2018 is down 5% to $2,415,362, when compared to the same period last year. Conversely, the number of homes sold in 2018 through October (496) is 5% higher than 2017 (472), and consistent with 2016 (498).   October’s absorption rate – the time it would take for all listings to sell at the current pace of sales, is 7.3% higher than a year ago: 13.1 months vs 12.2 month. Absorption rate should not be confused with average days on market, which is the average time it has actually taken homes to sell. Year-to-date through October, average days on market is 194 – down from 202 during the same period in 2017.

By the numbers it looks as if the Greenwich real estate market is holding steady. Unfortunately, this “steady” has been steadily sluggish over the past few years. Going forward, consumer uncertainty may continue despite evidence of robust national economic numbers. Potential buyers remain focused on rising mortgage rates and the new federal tax law and its impact on itemization of reduced deductions for property taxes and SALT. It also remains to be seen what impact the recent Connecticut state elections will have on our area’s ability to attract businesses and home buyers.

Overall, there are good opportunities now for buyers, now that sellers are adjusting to new market conditions, and properties that are priced well do sell at a reasonable pace. Pricing correctly at the outset remains key as overpriced listings continue to sit on the market.   Over the next few months we will be listening to you and re-evaluating the data points in this report in an effort to make it the most valuable monthly report possible. Please feel free to contact us any time if you have questions about the current market or would like to discuss this information further. 

October 2018

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October 2018

Total SoldOriginal Average List Price

Average List Price

Average Sale Price

% Sale To List Price

Greenwich 16 2,846,806 2,530,431 2,417,088 95.52%

Cos Cob 5 1,573,000 1,505,800 1,467,855 97.48%

Riverside 11 2,220,636 2,089,364 1,925,727 92.17%

Old Greenwich

5 3,375,990 3,275,990 3,032,000 92.55%

All Areas 37 2,560,023 2,361,591 2,225,829 94.25%

Greenwich Cos Cob Riverside Old Greenwich

Total

Under $1M 3 2 3 0 8

$1M - $2M 6 2 5 1 14

$2M - $3M 3 0 1 3 7

$3M - $4M 1 1 0 0 2

$4M - $5M 1 0 2 0 3

$5M - $7.5M 1 0 0 1 2

$7.5M – 10M 1 0 0 0 1

$10M+ 0 0 0 0 0

Total 16 5 11 5 37

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Source: Greenwich MLS

October 2018

May ‘18 June ‘18 July ‘18 August‘18 September ‘18 October ‘18

Greenwich 3,454,710 2,908,433 2,556,949 2,524,211 2,137,625 2,417,088

Cos Cob 1,400,455 1,730,000 1,757,188 1,227,967 1,510,000 1,467,855

Riverside 1,774,275 2,517,353 2,168,487 3,107,571 2,306,938 1,925,727

Old Greenwich

1,866,000 2,526,733 2,385,493 1,574,750 1,314,833 3,032,000

All Areas 2,612,303 2,577,956 2,364,509 2,339,135 2,045,190 2,225,829

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Source: Greenwich MLS

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May ’18 Jun ‘18 Jul ‘18 Aug ‘18 Sep ‘18 Oct ‘18

Greenwich Cos Cob Riverside Old Greenwich All Areas

Monthly Average Sales Price May 2018 – October 2018

October 2018

Greenwich Cos Cob Riverside Old Greenwich Average

2011 3,152,289 1,150,191 1,848,206 1,898,362 2,486,013

2012 2,760,657 1,219,244 2,072,138 2,292,737 2,332,251

2013 2,564,229 1,248,592 1,987,348 1,758,256 2,159,109

2014 3,364,420 1,273,909 2,020,356 2,494,492 2,755,420

2015 2,972,472 1,366,685 2,287,551 2,027,491 2,500,141

2016 2,555,918 1,324,085 2,176,119 2,017,665 2,224,501

2017 2,820,872 1,346,407 2,429,634 2,586,994 2,544,729

2018 2,667,288 1,624,084 2,390,965 2,235,977 2,415,362

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Source: Greenwich MLS

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Greenwich Cos Cob Riverside Old Greenwich Average

2011 2012 2013 2014 2015 2016 2017 2018

Year-To-Date Single Family Homes Average Sale Price By Area January 1st – October 31st

October 2018

Greenwich Cos Cob Riverside Old Greenwich Total

2011 249 45 94 78 466

2012 234 64 100 76 474

2013 273 56 123 96 548

2014 279 59 81 88 507

2015 274 59 103 86 522

2016 261 73 83 81 498

2017 267 55 90 60 472

2018 269 67 90 70 496

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Source: Greenwich MLS

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Greenwich Cos Cob Riverside Old Greenwich Total

2011 2012 2013 2014 2015 2016 2017 2018

Year-To-Date Number Of Single Family Homes Sold By Area January 1st – October 31st

October 2018

Greenwich Cos Cob Riverside Old Greenwich Total

2011 214 148 148 103 176

2012 194 149 108 159 164

2013 194 135 136 103 159

2014 203 100 109 110 160

2015 214 125 117 149 174

2016 214 167 143 158 186

2017 230 162 150 190 202

2018 218 160 171 164 194

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Source: Greenwich MLS

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Greenwich Cos Cob Riverside Old Greenwich Total

2011 2012 2013 2014 2015 2016 2017 2018

Year-To-Date Single Family Homes Average Days On Market

January 1st – October 31st

Single Family Sold | October 2018 | Greenwich

October 2018

Address Design SqFt YrBlt YrRnv Bd FB HB Acres List Price Sold Price DOM Close Date

37 Mooreland Road Colonial 12444 2017 8 9 2 4 9295000 8400000 315 10/31/2018

576 Round Hill Road FrenchSty 4959 1947 5 3 1 17.7 5650000 5650000 0 10/01/2018

361 Shore Road Colonial 5679 2008 5 4 1 0.68 3995000 4200000 36 10/11/2018

14 Mountain Wood Drive Colonial 6700 1977 2008 7 6 1 2.04 3485000 3250000 93 10/30/2018

110 Patterson Avenue Colonial 4170 1900 2006 5 6 1 0.4 2079000 2079000 0 10/23/2018

101 Dingletown Road Colonial 6368 1966 5 5 2 2.01 1990000 2050000 111 10/29/2018

36 Alden Road Tudor 5128 1923 5 5 1 1.68 2350000 2000000 181 10/12/2018

63 Sherwood Place 63 Townhouse 3883 2017 5 5 1 1995000 1950000 115 10/26/2018

16 Wyngate Road Colonial 3133 1964 2011 4 3 1 1 1775000 1680000 200 10/09/2018

56 Baldwin Farms Contemp 3624 1976 4 5 0 2.31 1675000 1440000 275 10/15/2018

206 Stanwich Road Colonial 2115 1926 4 2 1 1.36 1350000 1350000 19 10/04/2018

40 Glen Road Split 1947 1958 2016 4 3 2 0.2 1250000 1225000 91 10/10/2018

17 Ridgebrook Road Col Ranch 2142 1958 3 2 0 0.49 1300000 1150000 163 10/15/2018

103 Connecticut Avenue Colonial 1152 1920 1985 3 2 0 0.08 900000 937000 8 10/26/2018

38 Hettiefred Road Ranch 3006 1957 2014 4 4 0 1.68 998000 912500 207 10/11/2018

6 Talbot Lane Bungalow 815 1926 2 1 0 0.09 399900 399900 10 10/01/2018

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Source: Greenwich MLS

Address Design SqFt YrBlt YrRnv Bd FB HB Acres List Price Sold Price DOM Close Date

271 Valley Road SeeRmks 5932 2008 5 5 1 0.39 3295000 3150000 103 10/26/2018

29 Old Stone Bridge Road Colonial 3734 1978 2004 4 4 1 1.05 1349000 1315275 115 10/29/2018

29 Barton Lane Cape Cod 1953 2015 4 3 0 1 1295000 1200000 182 10/29/2018

120 Hillcrest Park Road Colonial 2220 1970 4 2 1 0.28 775000 865000 6 10/24/2018

11 Grove Street Ranch 1600 1948 3 2 0 0.21 815000 809000 32 10/05/2018

Single Family Sold | October 2018 | Cos Cob

Single Family Sold | October 2018 | Riverside

October 2018

Address Design SqFt YrBlt YrRnv Bd FB HB Acres List Price Sold Price DOM Close Date47 Carriglea Drive EngMan 6020 1922 2014 5 4 2 1.17 5495000 4700000 217 10/19/2018

7 Indian Head Road ShoreCol 8336 2017 6 5 2 0.53 4499000 4300000 149 10/16/2018

1 Tyler Lane Colonial 4468 1998 2018 6 4 1 0.51 2775000 2600000 44 10/19/2018

81 Hendrie Avenue Colonial 3635 1953 2009 5 5 1 0.35 1995000 1945000 194 10/31/2018

159 Riverside Avenue Colonial 3063 1965 1999 4 2 1 0.29 1950000 1800000 146 10/01/2018

11 Highgate Road Cape Cod 3430 1940 3 2 1 0.67 1650000 1350000 489 10/11/2018

37 Lockwood Lane Ranch 2192 1961 3 2 0 0.32 1150000 1066000 166 10/04/2018

1 Elizabeth Lane Colonial 2634 1990 4 4 1 0.22 1100000 1050000 217 10/30/2018

151 Lockwood Road Cape Cod 1330 1945 2013 3 1 1 0.18 895000 900000 16 10/25/2018

16 Sunshine Avenue Split 2042 1964 3 2 1 0.2 775000 750000 78 10/22/2018

6 Bonwit Road Cape Cod 1716 1955 4 2 0 0.21 699000 722000 35 10/22/2018

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Source: Greenwich MLS

Address Design SqFt YrBlt YrRnv Bd FB HB List Price Sold Price DOM Close Date

190 Milbank Avenue B GreekRev 4500 2006 2016 4 4 2 3600000 3600000 16 10/01/2018

18 Lexington Avenue B Townhouse 3653 2011 2016 3 3 1 2290000 2135000 57 10/25/2018

1 Milbank Avenue 3H Contemp 2347 1985 3 2 1 1595000 1625000 20 10/26/2018

40 Oak Ridge Street 1B Townhouse 2950 2008 2012 4 3 1 1075000 1010000 209 10/30/2018

48 Spring Street 8 Colonial 1987 1989 2012 3 2 1 930000 900000 135 10/12/2018

50 Church Street 4 Colonial 1985 2016 3 2 1 899000 899000 323 10/17/2018

70 Riverdale Avenue 802 Townhouse 2215 2007 2 2 1 879900 845000 113 10/03/2018

15 Lafayette Court 2A HiRise 1344 1930 2002 2 2 0 899000 835000 149 10/15/2018

33 Putnam Avenue 3E GeorgCol 1229 1993 2 2 0 835000 820000 29 10/09/2018

49 Indian Harbor Drive 4 Townhouse 1534 1984 2 2 0 725000 725000 79 10/17/2018

40 Elm Street 4M GeorgCol 1275 1939 1 1 1 695000 624000 92 10/10/2018

51 Forest Avenue 1 Colonial 966 1990 1 1 1 549000 510000 200 10/03/2018

1465 Putnam Avenue 203 Contemp 650 1977 0 1 0 339000 315000 98 10/09/2018

Condominiums Sold | October 2018 | Town-Wide

Address Design SqFt YrBlt YrRnv Bd FB HB Acres List Price Sold Price DOM Close Date

15 Crossway ShoreCol 5334 2001 2010 6 5 1 0.49 6995000 6300000 36 10/02/2018

347 Sound Beach Avenue ShoreCol 5700 2002 5 4 2 0.37 3295000 2925000 181 10/22/2018

5 Brown House Road Colonial 5410 2017 5 4 1 0.24 2195000 2150000 100 10/22/2018

14 Edgewater Drive Colonial 2286 1916 2013 4 2 1 0.17 1999950 2000000 22 10/04/2018

27 MacArthur Drive Colonial 3258 2009 5 3 1 0.2 1895000 1785000 50 10/02/2018

Single Family Sold | October 2018 | Old Greenwich