1st Quarter 2015 Greenwich Market Report

Transcription

1st Quarter 2015
Greenwich Market Report
Presented By
CHRIS MEYERS
Managing Principal
Houlihan Lawrence
HoulihanLawrence.com
KNOWLEDGE.
Greenwich’s top-producing agents have masterfully tapped into the strength of our
fully-integrated, cutting-edge marketing and technological resources to provide our clients
with a proven formula for success.
DAVID HAFFENREFFER
ERIN E. ADAMS
KATHY J. ADAMS
KAI AUDETT
BK BATES
BETSY CAMPBELL
LESLIE J CARLOTTI
PATRICIA CEA
JULIE CHURCH
BARBARA K. CIOFFARI
JOAN EPAND
GIDEON FOUNTAIN
DEBBY GARDINER
JANE G GOSDEN
GINNY HAMILTON
RICK LOH
JULIE LOWE
SALLY MALONEY
JOANNE MANCUSO
BARBARA MCKEE
ANGEL NEUBERTH
JENNIFER O'BRIEN
KATIE ORPHANOS
RUSSELL PRUNER
JARED G RANDALL
BRANCH MANAGER
SARAH B TRUE
SUSAN VAN DER GRIEND
100 WEST PUTNAM AVENUE | GREENWICH, CT 06830 | 203.869.0700
FRANN WARD
BARBARA B. WELLS
17 WILMOT LANE | RIVERSIDE, CT 06878 | 203.698.1234
POWER.
Our history is here, our heritage is here and our legacy has just begun. After one year, we are
already neck-and-neck for the number one ranked Greenwich brokerage. Knowledge is powerful,
and we have the knowledge. We know every house in town – and we’ve even lived in quite a few.
JOHN BATES
TERRY BAXENDALE
SUSAN ROBBEN BISANZO
JULIE GRACE BURKE
BONNIE M CAIE
SALLIE CRAIG
MARIA K CROWLEY
KRISTY DE LA SIERRA
BLAKE DELANY
ALISON EIGES
ANDY HEALY
NANCY HEALY
STEVE HEALY
GILA LEWIS
JEFF LOH
KIMBERLY A MESSIER
AMANDA J. MILLER
JILL A. MILLER
BRIAN MILTON
ELLEN MOSHER
LINDSAY SHEEHY
MARTA E. STROLL
ANGELA SWIFT
MICHELE TESEI
TED THAXTER
PETER J WELLS
AMY WHITLAW
JOSEPH L. WILLIAMS III
KENNETH YORKE
NOT PHOTOGRAPHED: C. JOHN L. BATES , GINA HIGBIE, LAUREN G MUSE, MARY RANTA, KELLI E. ROTH, LIANE R. TEL
HOULIHANLAWRENCE.COM/GREENWICH | HOULIHANLAWRENCE.COM/RIVERSIDE
EXECUTIVE SUMMARY
FIRST QUARTER 2015
Patience will see a payoff this spring for both buyers and sellers. All signs point to an invigorated market as the weather
warms up. Wall Street bonuses continue to move higher, and new jobs on Wall Street were added in 2014 for the first time
in three years. Interest rates remain near historic lows. That helped keep the market solid and steady in the first quarter.
Here are some trends we see for the spring and summer:
Buyers are ready to seal the deal. Pending home sales are on the rise throughout the region. The hottest sector right
now is the $1M-1.99M range, with a 36% increase in pending home sales. Buyers engaged with sellers even in the coldest
months, setting the state for even more activity as the weather warms up.
Inventory is holding steady but remains tight. This represents an opportunity for sellers who have been waiting for
the right moment to put their property on the market. There is less competition for buyer’s attention, and properties will
stand out.
Some regional statistics we’d like to share:
Faster sales at higher prices for homes North of the Parkway: Average days on the market in the area plummeted more
than 30% compared to a year ago. And homes sold closer to their asking price in the area. Buyers are looking for value,
privacy and large acreage, along with proximity to the village of Armonk and the Merritt Parkway.
Buyers are placing a premium on well-renovated and newly constructed homes South of the Parkway. The average
price is up 28% from a year ago in the sought-after part of town near schools and Greenwich Avenue. The average price
per square foot is up 15% and homes are selling for closer to their asking price.
The market will be a tight and competitive one South of Post Road this spring. Activity was fierce this winter, with
pending home sales up 71%. Inventory is down by 13% from a year ago. Buyers who want to be near the coast will have to
move quickly and decisively given the tight inventory.
Old Greenwich is also experiencing a spike in pending homes sales, up 60%. Drawn to the area’s quaint New England
charm, walkability, and beaches, the number of homes sold doubled in the first quarter compared to a year ago. Inventories
are down, and median sales prices are rising.
The Condo market is hitting on all cylinders. The segment is attracting first time homebuyers, downsizers, and those
seeking tax relief from Westchester County. Every measurement is up: Condos are selling faster and at higher prices. And
with pending home sales jumping 23%, spring will be a strong season as well.
Outlook for spring 2015: Heading into the second quarter, Wall Street remained strong, with both the S&P 500 and the
Nasdaq posting their ninth straight quarterly gains. The weaker-than-expected March jobs report is likely to push back a
Federal Reserve rate hike, leaving interest rates near historic lows for a little longer.
Stephen Meyers
President and CEO
Chris Meyers
Managing Principal
TABLE OF CONTENTS
FIRST QUARTER 2015
GREATER GREENWICH
GREENWICH
Single Family Home Overview
South of the Post Road
GREENWICH
COS COB
North of the Parkway
GREENWICH
OLD GREENWICH
GREATER GREENWICH
Condominium Overview
RIVERSIDE
South of the Parkway
HOULIHANLAWRENCE.COM
GREATER GREENWICH
QUARTERLY MARKET OVERVIEW
Q1
2015
Q1
2014
90
97
HOMES SOLD
%
FULL YEAR FULL YEAR
%
CHANGE
2014
2013
CHANGE
-7.2%
608
646
-5.9%
AVERAGE SALE PRICE
$2,658,917 $2,664,347
-0.2%
$2,688,907
$2,245,168
19.8%
MEDIAN SALE PRICE
$1,780,000$2,175,000 -18.2%
$1,881,350
$1,693,750
11.1%
AVERAGE PRICE PER SQUARE FOOT
$570
$580
-1.7%
$610
$555
9.9%
AVERAGE DAYS ON MARKET
185
183
1.1%
166
156
6.4%
% SALE PRICE TO LIST PRICE
92.7%
93.0%
-0.3%
93.7%
94.0%
-0.3%
TEN-YEAR MARKET HISTORY
Average Sale Price
$2,687,400 $3,012,133 $2,818,933 $2,664,991 $2,518,862 $2,429,922 $2,381,680 $2,245,168 $2,688,907 $2,658,917 Average Sale Price
Average Price/SqFt
$638
$665
$627
$545
$544
$539
$555
$555
$610
$570
Average Price/SqFt
Days On Market
114
135
144
187
184
180
173
156
166
185
Days On Market
%Sale Price to List Price
95.5
94.3
92.1
87.5
90.2
91.8
91.9
94.0
93.7
92.7
* Homes sold for 2015 are annualized based on actual sales year-to-date.
GREATER GREENWICH
SUPPLY DEMAND ANALYSIS
AS OF MARCH 31, 2015
PRICE RANGE
SUPPLY:
ACTIVE
LISTINGS
$0 - $999,999
34
$1,000,000 - $1,999,999
83
$2,000,000 - $2,999,999
79
$3,000,000 - $3,999,999
75
$4,000,000 - $4,999,999
49
$5,000,000 - $5,999,999
30
$6,000,000 - $7,999,999
49
$8,000,000 - $9,999,999
18
$10,000,000 and up Market Totals
DEMAND:
PENDING
SALES
16
SUPPLY/
DEMAND
RATIO*
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
2
50
18
39
2
101
20
4
85
13
6
8
2015 vs. 2014
SUPPLY/
DEMAND
RATIO*
%
CHANGE IN
LISTINGS
%
CHANGE IN
PENDINGS
3
-32.0%
-11.1%
30
3
-17.8%
30.0%
11
8
-7.1%
81.8%
60
19
3
25.0%
-31.6%
6
35
7
5
40.0%
14.3%
7
4
30
3
10
0.0%
133.3%
5
10
42
1
42
16.7%
400.0%
1
18
15
3
5
20.0%
-66.7%
43
0
Not Valid
42
4
11
2.4%
-100.0%
460
109
4
460
96
5
0.0%
13.5%
*Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
SOLD PROPERTIES
01/01/2015 03/31/2015
01/01/2014 03/31/2014
% CHANGE
2015/2014
$0 - $999,999
15
17
-11.8%
$1,000,000 - $1,999,999
37
23
60.9%
$2,000,000 - $2,999,999
20
27
-25.9%
$3,000,000 - $3,999,999
5
14
-64.3%
$4,000,000 - $4,999,999
3
6
-50.0%
$5,000,000 - $5,999,999
5
4
25.0%
$6,000,000 - $7,999,999
1
3
-66.7%
$8,000,000 - $9,999,999
2
0
Not Valid
$10,000,000 and up 2
3
-33.3%
90
97
-7.2%
Market Totals
Source: Greenwich Multiple Listing Service, Single-family homes
GREENWICH
NORTH OF THE PARKWAY
Q1
2015
Q1
2014
12
14
HOMES SOLD
%
FULL YEAR FULL YEAR
%
CHANGE
2014
2013
CHANGE
-14.3%
54
61
-11.5%
AVERAGE SALE PRICE
$2,426,000 $4,907,037 -50.6%
$4,136,921
$3,106,132
33.2%
MEDIAN SALE PRICE
$1,962,500 $3,500,000 -43.9%
$2,745,000
$2,300,000
19.3%
$543
$662
-18.0%
$558
$524
6.5%
228
331
-31.1%
349
286
22.0%
91.6%
91.1%
0.5%
90.5%
91.3%
-0.9%
Average Sale Price
$4,349,585 $4,703,453 $5,128,400 $5,855,000 $4,552,510 $3,887,759 $3,548,310 $3,106,132
$4,136,921 $2,426,000 Average Sale Price
Average Price/SqFt
$644
$656
$578
$682
$609
$557
$504
$524
$558
$543
Average Price/SqFt
Days On Market
145
208
229
268
333
251
286
286
349
228
Days On Market
94.4
93.0
84.0
86.3
82.9
91.0
89.3
91.3
90.5
91.6
GREENWICH
NORTH OF THE PARKWAY
PRICE RANGE
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
$0 - $999,999
2
0
$1,000,000 - $1,999,999
16
$2,000,000 - $2,999,999
16
$3,000,000 - $3,999,999
$4,000,000 - $4,999,999
SUPPLY/
DEMAND
RATIO*
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
Not Valid
4
0
3
5
17
1
16
16
17
0
Not Valid
12
1
12
$5,000,000 - $5,999,999
6
1
6
8
$6,000,000 - $7,999,999
13
2
7
10
$8,000,000 - $9,999,999
4
1
4
6
0
$10,000,000 and up 24
0
Not Valid
19
Market Totals
110
9
12
108
2015 vs. 2014
SUPPLY/
DEMAND
RATIO*
%
CHANGE IN
PENDINGS
Not Valid
-50.0%
0.0%
5
3
-5.9%
-40.0%
1
16
0.0%
0.0%
17
1
17
0.0%
-100.0%
11
0
Not Valid
9.1%
0.0%
1
8
-25.0%
0.0%
0
Not Valid
30.0%
0.0%
Not Valid
-33.3%
0.0%
1
19
26.3%
-100.0%
9
12
1.9%
0.0%
SOLD PROPERTIES
01/01/2015 03/31/2015
%
CHANGE IN
LISTINGS
01/01/2014 03/31/2014
% CHANGE
2015/2014
$0 - $999,999
3
1
200.0%
$1,000,000 - $1,999,999
3
1
200.0%
$2,000,000 - $2,999,999
2
4
-50.0%
$3,000,000 - $3,999,999
2
2
0.0%
$4,000,000 - $4,999,999
0
2
-100.0%
$5,000,000 - $5,999,999
2
1
100.0%
$6,000,000 - $7,999,999
0
0
Not Valid
$8,000,000 - $9,999,999
0
0
Not Valid
$10,000,000 and up 0
3
-100.0%
Market Totals
12
14
-14.3%
GREENWICH
SOUTH OF THE PARKWAY
Q1
2015
Q1
2014
31
34
HOMES SOLD
AVERAGE SALE PRICE
-8.8%
218
207
5.3%
28.4%
$2,698,854
$2,774,982
-2.7%
$2,070,000$2,405,000 -13.9%
$2,237,500
$1,950,000
14.7%
$3,391,161 $2,641,078
MEDIAN SALE PRICE
%
FULL YEAR FULL YEAR
%
CHANGE
2014
2013
CHANGE
$606
$524
15.6%
$566
$536
5.6%
216
208
3.8%
187
169
10.7%
93.6%
91.8%
2.0%
93.8%
93.9%
-0.1%
Average Sale Price
Average Price/SqFt
$658
$656
$653
$544
$552
$529
$569
$536
$566
$606
Average Price/SqFt
Days On Market
135
142
163
209
208
214
176
169
187
216
Days On Market
95.3
94.9
93.1
87.0
91.9
90.5
91.7
93.9
93.8
93.6
GREENWICH
SOUTH OF THE PARKWAY
PRICE RANGE
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
SUPPLY/
DEMAND
RATIO*
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
$0 - $999,999
14
0
Not Valid
19
5
$1,000,000 - $1,999,999
20
6
3
29
$2,000,000 - $2,999,999
29
9
3
35
$3,000,000 - $3,999,999
25
8
3
$4,000,000 - $4,999,999
23
2
$5,000,000 - $5,999,999
15
$6,000,000 - $7,999,999
24
$8,000,000 - $9,999,999
11
2015 vs. 2014
SUPPLY/
DEMAND
RATIO*
%
CHANGE IN
LISTINGS
%
CHANGE IN
PENDINGS
4
-26.3%
12
2
-31.0%
-50.0%
3
12
-17.1%
200.0%
22
12
2
13.6%
-33.3%
12
21
3
7
9.5%
-33.3%
4
4
12
2
6
25.0%
100.0%
1
24
19
0
Not Valid
26.3%
0.0%
0
Not Valid
7
3
2
57.1%
-100.0%
12
0
Not Valid
12
2
6
0.0%
-100.0%
173
30
6
176
42
4
-1.7%
-28.6%
SOLD PROPERTIES
01/01/2015 03/31/2015
01/01/2014 03/31/2014
% CHANGE
2015/2014
$0 - $999,999
4
6
-33.3%
$1,000,000 - $1,999,999
11
4
175.0%
$2,000,000 - $2,999,999
6
13
-53.8%
$3,000,000 - $3,999,999
3
5
-40.0%
$4,000,000 - $4,999,999
2
2
0.0%
$5,000,000 - $5,999,999
2
1
100.0%
$6,000,000 - $7,999,999
1
3
-66.7%
$8,000,000 - $9,999,999
1
0
Not Valid
$10,000,000 and up 1
0
Not Valid
Market Totals
31
34
-8.8%
-100.0%
GREENWICH
SOUTH OF THE POST ROAD
Q1
2015
Q1
2014
9
9
HOMES SOLD
%
FULL YEAR FULL YEAR
%
CHANGE
2014
2013
CHANGE
0.0%
68
58
17.2%
AVERAGE SALE PRICE
$2,224,444 $1,525,555
45.8%
$4,083,817
$2,219,081
84.0%
MEDIAN SALE PRICE
$1,385,000$1,570,000 -11.8%
$1,482,500
$1,556,250
-4.7%
$518
$525
-1.3%
$726
$577
25.8%
191
118
61.9%
172
160
7.5%
95.6%
93.0%
2.8%
93.4%
92.5%
1.0%
Average Sale Price
$2,366,656 $3,957,126 $2,291,158 $2,658,088 $3,031,344
$3,239,191 $2,486,569 $2,219,081 $4,083,817 $2,224,444 Average Sale Price
Average Price/SqFt
$659
$856
$617
$558
$573
$570
$574
$577
$726
$518
Average Price/SqFt
Days On Market
113
132
146
213
215
212
215
160
172
191
Days On Market
93.3
89.8
95.5
83.9
87.7
91.5
89.0
92.5
93.4
95.6
GREENWICH
SOUTH OF THE POST ROAD
PRICE RANGE
SUPPLY:
ACTIVE
LISTINGS
$0 - $999,999
3
$1,000,000 - $1,999,999
8
$2,000,000 - $2,999,999
8
$3,000,000 - $3,999,999
3
$4,000,000 - $4,999,999
DEMAND:
PENDING
SALES
SUPPLY/
DEMAND
RATIO*
SUPPLY:
ACTIVE
LISTINGS
1
9
3
3
10
0
Not Valid
6
0
Not Valid
1
6
0
Not Valid
$5,000,000 - $5,999,999
6
1
$6,000,000 - $7,999,999
4
1
$8,000,000 - $9,999,999
2
6
DEMAND:
PENDING
SALES
2015 vs. 2014
SUPPLY/
DEMAND
RATIO*
4
%
CHANGE IN
LISTINGS
%
CHANGE IN
PENDINGS
2
-66.7%
50.0%
1
10
-20.0%
200.0%
0
Not Valid
33.3%
0.0%
0
Not Valid
200.0%
0.0%
2
1
2
200.0%
-100.0%
6
6
0
Not Valid
0.0%
0.0%
4
9
1
9
-55.6%
0.0%
0
Not Valid
1
0
Not Valid
100.0%
0.0%
4
0
Not Valid
7
0
Not Valid
-42.9%
0.0%
44
11
4
51
7
7
-13.7%
57.1%
SOLD PROPERTIES
01/01/2015 03/31/2015
01/01/2014 03/31/2014
% CHANGE
2015/2014
$0 - $999,999
3
3
0.0%
$1,000,000 - $1,999,999
4
4
0.0%
$2,000,000 - $2,999,999
1
1
0.0%
$3,000,000 - $3,999,999
0
1
-100.0%
$4,000,000 - $4,999,999
0
0
Not Valid
$5,000,000 - $5,999,999
0
0
Not Valid
$6,000,000 - $7,999,999
0
0
Not Valid
$8,000,000 - $9,999,999
1
0
Not Valid
$10,000,000 and up 0
0
Not Valid
Market Totals
9
9
0.0%
COS COB
Q1
2015
Q1
2014
16
8
HOMES SOLD
%
FULL YEAR FULL YEAR
%
CHANGE
2014
2013
CHANGE
100.0%
67
68
-1.5%
AVERAGE SALE PRICE
$1,489,656 $1,458,125
2.2%
$1,254,598
$1,241,224
1.1%
MEDIAN SALE PRICE
$1,307,500$1,225,000
6.7%
$1,178,000
$1,157,500
1.8%
$505
$474
6.5%
$465
$471
-1.3%
163
92
77.2%
103
131
-21.4%
94.2%
94.7%
-0.5%
96.1%
95.0%
1.2%
Average Sale Price
$1,513,291
$1,573,462 $1,444,383 $1,249,104
$1,141,637
Average Price/SqFt
$532
$520
$470
$416
$403
$431
$414
$471
$465
$505
Average Price/SqFt
Days On Market
102
115
104
162
149
141
153
131
103
163
Days On Market
95.6
96.7
93.8
90.7
93.1
92.7
94.0
95.0
96.1
94.2
$1,116,709 $1,224,821
$1,241,224
$1,254,598 $1,489,656 Average Sale Price
COS COB
PRICE RANGE
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
$0 - $999,999
7
5
$1,000,000 - $1,999,999
11
$2,000,000 - $2,999,999
4
$3,000,000 - $3,999,999
SUPPLY/
DEMAND
RATIO*
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
2015 vs. 2014
SUPPLY/
DEMAND
RATIO*
%
CHANGE IN
LISTINGS
1
12
4
3
8
1
13
4
3
-15.4%
100.0%
0
Not Valid
1
1
1
300.0%
-100.0%
4
0
Not Valid
2
0
Not Valid
100.0%
0.0%
$4,000,000 - $4,999,999
0
0
0
0
0
0
0.0%
0.0%
$5,000,000 - $5,999,999
0
0
0
0
0
0
0.0%
0.0%
$6,000,000 - $7,999,999
0
0
0
0
0
0
0.0%
0.0%
$8,000,000 - $9,999,999
0
0
0
0
0
0
0.0%
0.0%
0
0
0
0
0
0
0.0%
0.0%
26
13
2
28
9
3
-7.1%
44.4%
-41.7%
%
CHANGE IN
PENDINGS
SOLD PROPERTIES
01/01/2015 03/31/2015
01/01/2014 03/31/2014
% CHANGE
2015/2014
$0 - $999,999
3
1
200.0%
$1,000,000 - $1,999,999
9
5
80.0%
$2,000,000 - $2,999,999
4
2
100.0%
$3,000,000 - $3,999,999
0
0
Not Valid
$4,000,000 - $4,999,999
0
0
Not Valid
$5,000,000 - $5,999,999
0
0
Not Valid
$6,000,000 - $7,999,999
0
0
Not Valid
$8,000,000 - $9,999,999
0
0
Not Valid
$10,000,000 and up 0
0
Not Valid
Market Totals
16
8
100.0%
25.0%
RIVERSIDE
Q1
2015
Q1
2014
13
19
HOMES SOLD
%
FULL YEAR FULL YEAR
%
CHANGE
2014
2013
CHANGE
-31.6%
96
145
-33.8%
AVERAGE SALE PRICE
$3,651,923 $2,630,078
38.9%
$2,000,919
$1,962,380
2.0%
MEDIAN SALE PRICE
$2,080,000$2,300,000 -9.6%
$1,862,500
$1,680,000
10.9%
$635
$670
-5.2%
$598
$582
2.7%
129
148
-12.8%
110
132
-16.7%
88.6%
96.8%
-8.5%
96.5%
96.0%
0.5%
Average Sale Price
Average Price/SqFt
Days On Market
$607
$636
$682
$573
$535
$539
$588
$582
$598
$635
Average Price/SqFt
81
111
117
149
142
155
122
132
110
129
Days On Market
97.8
96.8
93.4
88.4
91.8
93.3
93.6
96.0
96.5
88.6
RIVERSIDE
PRICE RANGE
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
$0 - $999,999
3
2
$1,000,000 - $1,999,999
10
$2,000,000 - $2,999,999
11
$3,000,000 - $3,999,999
SUPPLY/
DEMAND
RATIO*
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
2015 vs. 2014
SUPPLY/
DEMAND
RATIO*
%
CHANGE IN
LISTINGS
%
CHANGE IN
PENDINGS
2
2
2
1
50.0%
5
2
11
4
3
-9.1%
25.0%
3
4
12
4
3
-8.3%
-25.0%
15
4
4
9
2
5
66.7%
100.0%
$4,000,000 - $4,999,999
3
3
1
1
2
1
200.0%
50.0%
$5,000,000 - $5,999,999
2
1
2
0
0
0
0.0%
0.0%
$6,000,000 - $7,999,999
1
1
1
1
0
Not Valid
0.0%
0.0%
$8,000,000 - $9,999,999
1
0
Not Valid
0
0
0
0.0%
0.0%
3
0
Not Valid
3
0
Not Valid
0.0%
0.0%
49
19
3
39
14
3
25.6%
35.7%
SOLD PROPERTIES
01/01/2015 03/31/2015
01/01/2014 03/31/2014
% CHANGE
2015/2014
$0 - $999,999
1
2
-50.0%
$1,000,000 - $1,999,999
4
5
-20.0%
$2,000,000 - $2,999,999
5
5
0.0%
$3,000,000 - $3,999,999
0
4
-100.0%
$4,000,000 - $4,999,999
1
1
0.0%
$5,000,000 - $5,999,999
1
2
-50.0%
$6,000,000 - $7,999,999
0
0
Not Valid
$8,000,000 - $9,999,999
0
0
Not Valid
$10,000,000 and up 1
0
Not Valid
Market Totals
13
19
-31.6%
0.0%
OLD GREENWICH
Q1
2015
Q1
2014
9
13
HOMES SOLD
%
FULL YEAR FULL YEAR
%
CHANGE
2014
2013
CHANGE
-30.8%
105
106
-0.9%
AVERAGE SALE PRICE
$1,526,124 $1,890,769 -19.3%
$2,564,436
$1,753,566
46.2%
MEDIAN SALE PRICE
$1,295,000$1,225,000
5.7%
$2,125,000
$1,593,750
33.3%
$567
$611
-7.2%
$749
$615
21.8%
137
108
26.9%
116
103
12.6%
96.4%
94.7%
1.8%
94.1%
94.9%
-0.8%
Average Sale Price
Average Price/SqFt
Days On Market
$1,960,677 $2,466,218 $2,041,162 $1,785,979 $1,736,841
$1,905,612 $2,271,283
$1,753,566 $2,564,436 $1,526,124 Average Sale Price
$679
$703
$664
$565
$575
$588
$617
$615
$749
$567
Average Price/SqFt
99
110
125
147
115
105
165
103
116
137
Days On Market
96.5
96.0
95.5
91.4
94.4
94.8
93.8
94.9
94.1
96.4
OLD GREENWICH
PRICE RANGE
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
SUPPLY/
DEMAND
RATIO*
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
2015 vs. 2014
SUPPLY/
DEMAND
RATIO*
$0 - $999,999
5
3
2
4
3
1
$1,000,000 - $1,999,999
18
14
1
21
4
$2,000,000 - $2,999,999
11
7
2
15
2
$3,000,000 - $3,999,999
11
1
11
9
$4,000,000 - $4,999,999
5
2
3
$5,000,000 - $5,999,999
1
0
$6,000,000 - $7,999,999
7
0
$8,000,000 - $9,999,999
0
%
CHANGE IN
LISTINGS
%
CHANGE IN
PENDINGS
25.0%
0.0%
5
-14.3%
250.0%
8
-26.7%
250.0%
4
2
22.2%
-75.0%
0
1
0
0.0%
100.0%
Not Valid
4
0
Not Valid
-75.0%
0.0%
Not Valid
3
0
Not Valid
133.3%
0.0%
0
0
1
0
Not Valid
-100.0%
0.0%
$10,000,000 and up 0
0
0
1
1
1
-100.0%
-100.0%
Market Totals
58
27
2
58
15
4
0.0%
80.0%
SOLD PROPERTIES
01/01/2015 03/31/2015
01/01/2014 03/31/2014
% CHANGE
2015/2014
$0 - $999,999
1
4
-75.0%
$1,000,000 - $1,999,999
6
4
50.0%
$2,000,000 - $2,999,999
2
2
0.0%
$3,000,000 - $3,999,999
0
2
-100.0%
$4,000,000 - $4,999,999
0
1
-100.0%
$5,000,000 - $5,999,999
0
0
Not Valid
$6,000,000 - $7,999,999
0
0
Not Valid
$8,000,000 - $9,999,999
0
0
Not Valid
$10,000,000 and up 0
0
Not Valid
Market Totals
9
13
-30.8%
GREATER GREENWICH
CONDOMINIUMS
Q1
2015
UNITS SOLD
Q1
%
FULL YEAR FULL YEAR
%
2014 CHANGE
2014
2013
CHANGE
31
26
19.2%
165
169
-2.4%
AVERAGE SALE PRICE
$1,025,548$873,500
17.4%
$901,903
$842,525
7.0%
MEDIAN SALE PRICE
$775,000 $701,500
10.5%
$710,000
$699,000
1.6%
$489
$443
10.4%
$456
$436
4.6%
142
187
-24.1%
154
186
-17.2%
95.9%
94.3%
1.7%
95.6%
95.0%
0.6%
Average Sale Price
$967,194
$1,054,207
$950,219
$888,920
$814,418
$878,893
$852,428
$842,525
$901,903
Average Price/SqFt
$542
$530
$490
$440
$410
$436
$422
$436
$456
$489
Average Price/SqFt
Days On Market
119
135
161
241
210
204
227
186
154
142
Days On Market
96.8
95.6
94.2
92.6
90.6
92.8
93.4
95.0
95.6
95.9
$1,025,548 Average Sale Price
GREATER GREENWICH
CONDOMINIUMS
PRICE RANGE
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
SUPPLY/
DEMAND
RATIO*
SUPPLY:
ACTIVE
LISTINGS
DEMAND:
PENDING
SALES
$0 - $999,999
55
12
5
58
$1,000,000 - $1,999,999
22
6
4
18
3
$2,000,000 - $2,999,999
6
5
1
8
0
$3,000,000 - $3,999,999
1
2
1
6
1
$4,000,000 - $4,999,999
6
1
6
2
$5,000,000 - $5,999,999
1
0
Not Valid
$6,000,000 - $7,999,999
1
0
Not Valid
$8,000,000 - $9,999,999
0
0
0
0
0
0
92
26
4
2015 vs. 2014
SUPPLY/
DEMAND
RATIO*
17
3
%
CHANGE IN
PENDINGS
-5.2%
-29.4%
6
22.2%
100.0%
Not Valid
-25.0%
0.0%
6
-83.3%
100.0%
0
Not Valid
200.0%
0.0%
1
0
Not Valid
0.0%
0.0%
0
0
0
0.0%
0.0%
0
0
0
0.0%
0.0%
0
0
0
0.0%
0.0%
93
21
4
-1.1%
23.8%
SOLD PROPERTIES
01/01/2015 03/31/2015
%
CHANGE IN
LISTINGS
01/01/2014 03/31/2014
% CHANGE
2015/2014
$0 - $999,999
21
19
10.5%
$1,000,000 - $1,999,999
7
6
16.7%
$2,000,000 - $2,999,999
2
0
Not Valid
$3,000,000 - $3,999,999
1
0
Not Valid
$4,000,000 - $4,999,999
0
1
-100.0%
$5,000,000 - $5,999,999
0
0
Not Valid
$6,000,000 - $7,999,999
0
0
Not Valid
$8,000,000 - $9,999,999
0
0
Not Valid
$10,000,000 and up 0
0
Not Valid
Market Totals
31
26
19.2%
Source: Greenwich Multiple Listing Service, Condominium
5 GLOBAL NETWORKS – REACHING 56 COUNTRIES & 6 CONTINENTS
Leading Real Estate Companies of the World | Luxury Portfolio International
Mayfair International Realty | Board of Regents Luxury Real Estate

1st Quarter 2015 Greenwich Market Report

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