This week we have 27 open houses in Greenwich from a $4,000 rental in downtown Greenwich to a $12.75 million house on the waterfront.

The complete list of open house is below. You can see the interactive map here and find instructions for its use here.We have 12 houses under $1 million and 8 houses over $2 million.

If you mouse over a pin on the map a box will pop-up with the address, time and price of the open house. If click on the pin or if you click on an address in the right column of the map a larger balloon will pop-up. Click on the MLS number in the balloon and you will get the details of the property. If can also click in this balloon to get directions to the property and to zoom-in and see the property lines for each listing.

Market Report

For many Realtors 2012 is shaping up to be much different from 2011. Greenwich is buzzing with buyers with a more positive attitude, at least in the lower half of the market. With national unemployment finally below 9% and mortgage rates continuing to hit new lows; mortgage applications are up significantly. Locally, buyers seem to have made a New Year’s resolution that this is the year they are going to buy a house.

Sales are on track too. So far in 2012, we have sold 17 houses and 3 condominiums. This is where sales should be to reach the six-year average for January of 40 homes sold. We also have 23 accepted offers and contingent contracts, and another 9 non-contingent contracts. At the high end 1109 Lake Ave. listed for $11.9 million sold for $9.25 million this month after only 78 days on market.

We have 43 new residential listings, which with 49 properties sold and under contract means that inventory in places like Old Greenwich and Riverside will continue to be tight. At the high end we had one other sale over $5 million that was on for 1,011 days. At the same time we had four new listings over $5 million come on the market so inventory at the high end is continuing to exacerbate an already poor situation.

2012 should be an interesting year for the real estate market in Greenwich. The financial press has focused on how bonuses will be down this year, but Wall Street is still expected to pay out $159 billion in compensation, according to the Wall Street Journal. Also, Greenwich over the years has attracted buyers from all over the world and from many different industry segments. Nowadays about 20% of the people that come to my open houses were born in Asia.

We will feel some impact from bonus cutback, but postive feelings about the economy should counterbalance these reductions and we may well see increased funds from countries looking for a safe haven from economic and political woes. Lastly, I am starting to see investor money come back into the market and never forget the power of an administration to stimulate the economy in an election year.

 Open House List for Sunday, January 15, 2011