Mother’s Day last week and Memorial Day next week have squeezed open houses into Sunday, May 20th. As a result we have an incredible 93 open houses today. Rob Pulitano has done a yeoman’s effort for you pulling together all the information about these open houses and creating the interactive map. He has found 31 open houses that are not listed on the Greenwich MLS. They include open houses that only appear on the CMLS or Trulia. It was several hours of work distilled in to the open house list below and the interactive map here.
This week we have 5 rentals, 28 houses under $1 million; 30 houses between $1 and 2 million, and 29 houses over $2 million. The weather is also supposed to be nice with a high around 79 degrees with 5 to 10 mph breezes. So this is the weekend to get out see the open houses.
Greenwich Real Estate Market Report for May 20, 2012
The lower and middle portions of the Greenwich real estate market continues to hum along. Right now we have 634 houses on the market and 181 properties that are either sold, under contract or with an accepted offer.
Most Sales in May Under $3MM
So far in May we have had 25 houses sold and 22 or 88% of them have been under $3 million, while only 55% of the inventory is under $3 million.
Over $10MM Doing Better Than $5 – 10MM segment
Pending contracts and accepted offers show that the high end is getting a little better and surprisingly the very high-end, over $10 million, is doing better than the $5 – 10 million range. We have 8 pending contracts for houses listed at over $10 million with an inventory of only 46 houses. From $5 – 10 million we have more than double the number of houses on the market, 111 houses, while we only have 5 executed contracts and 4 accepted offers.
Be Careful When Comparing Numbers in a Market Like This
This mismatch between sales and inventory skews the numbers. For example our median price for active listings is $2.8 million, while the median price of houses sold so far in May is $1.7 million or more than a million dollars less. This skewing of sales also makes it look like house prices have dropped by over 30% when all that has changed is the mix of what is selling.
The analysis of the contracts has also changed this week. Usually, I get contracts and accepted offers from the hot sheet, i.e. transaction that have happened since the beginning of the month.
For this analysis, however, I wanted to look at all pending contracts and offers. So I pulled all pending contracts and offers from the GMLS database. The numbers include not only contracts that were signed in May, but also prior months. The result is a more complete view of upcoming sales, but since prior month’s contracts are included these number don’t show the market velocity for May as would a look at only the May numbers.
GREENWICH OPEN HOUSE LIST FOR MAY 20, 2012
Address
Town
List Price
Open House Time
Broker
32 Highland Rd. #13
Stamford
$3,500
1-4 PM
Weichert
95 Connecticut Ave.
Greenwich
$3,975
2-4 PM
Coldwell Bnkr
25 Oval Ave.
Riverside
$7,900
2-4 PM
Raveis
16 Manor Rd.
Old Greenwich
$8,950
1-4 PM
Prudential
37 Porchuck Rd.
Greenwich
$25,000
2-4 PM
Prudential
1525 E. Putnam Ave. #301
Old Greenwich
$329,000
1-4 PM
Raveis
351 Pemberwick Rd. #110
Greenwich
$335,000
1-3 PM
Raveis
254 Seaside #34c
Stamford
$349,000
1-4 PM
Prudential
87 Putnam Park #87
Greenwich
$397,000
1-4 PM
Raveis
102 Valley Rd. #19
Cos Cob
$475,000
1-3 PM
Raveis
51 Forest Ave. #132
Old Greenwich
$499,000
2-4 PM
Coldwell Bnkr
150 Prospect St. #4
Greenwich
$515,000
2-4 PM
Sotheby’s
6 Nassau Pl #4
Cos Cob
$540,000
1:30-4:00 PM
Coldwell Bnkr
27 Bible St.
Cos Cob
$549,000
1-4 PM
Prudential
351 Pemberwick Rd. #505
Greenwich
$599,000
1-4 PM
Prudential
80 Laddins Rock Rd.
Old Greenwich
$599,000
1-4 PM
Prudential
72 Putnam Park #72
Greenwich
$615,000
12-3 PM
Weichert
13 Dora St, St #2
Stamford
$629,000
1-4 PM
Raveis
32 Highland Rd. #13
Stamford
$635,000
1-4 PM
Weichert
193 Hamilton Ave. #20
Greenwich
$650,000
1-4 PM
Raveis
9 Melrose Ave.
Greenwich
$669,000
1-5 PM
Weichert
132 Henry St
Greenwich
$675,000
12-3 PM
Weichert
19 Le Grande Ave. #16
Greenwich
$679,000
1-4 PM
Raveis
11 Orchard St
Cos Cob
$685,000
1-4 PM
Prudential
11 Orchard St
Cos Cob
$685,000
1-4 PM
Prudential
28 Woods Ave.
Greenwich
$699,000
12-3 PM
Raveis
60 Valley Rd. #A
Cos Cob
$699,500
2-4 PM
Raveis
60 Valley Rd. #B
Cos Cob
$699,500
2-4 PM
Raveis
197 Sheephill Rd. #C
Riverside
$749,900
2-4 PM
Coldwell Bnkr
333 Palmer Hill Rd. #3c
Riverside
$799,900
1-4 PM
Coldwell Bnkr
27 Pilgrim Dr.
Greenwich
$871,500
1-5 PM
Weichert
362 Davis Ave #4
Greenwich
$925,000
2-4 PM
Sotheby’s
22 Hettiefred Rd.
Greenwich
$949,000
1-3 PM
Reloc Group
73 Weaver St. #23
Greenwich
$995,000
2-4 PM
Coldwell Bnkr
17 Ronald Ln.
Cos Cob
$1,039,000
1-3 PM
Raveis
1 Mortimer Dr.
Old Greenwich
$1,050,000
2-4 PM
Sotheby’s
349 Riversville Rd.
Greenwich
$1,099,000
1-4 PM
Raveis
95 Connecticut Ave.
Greenwich
$1,099,000
2-4 PM
Coldwell Bnkr
21 Mulberry Ln.
Cos Cob
$1,100,000
1-3 PM
Weichert
38 Breezemont Ave.
Riverside
$1,225,000
2-4 PM
Sotheby’s
67 Bowman Dr.
Greenwich
$1,245,000
2-4 PM
Anderson
73 Weaver St. #18
Greenwich
$1,249,000
1-4 PM
VAN
37 Carrington Dr.
Greenwich
$1,250,000
1-4 PM
Coldwell Bnkr
2 Sheldrake Rd.
Greenwich
$1,255,000
1-4 PM
Prudential
78 Dandy Dr.
Greenwich
$1,295,000
1-4 PM
Prudential
1992 Shippan Ave.
Stamford
$1,299,000
12-2 PM
Coldwell Bnkr
31 Westview Pl.
Riverside
$1,300,000
2-4 PM
Coldwell Bnkr
86 Lower Cross Rd.
Greenwich
$1,349,000
1-4 PM
Weichert
15 Midbrook Ln.
Old Greenwich
$1,395,000
2-4 PM
Sotheby’s
42 Stonebrook Ln.
Cos Cob
$1,399,000
2-4 PM
Sotheby’s
80 Porchuck Rd.
Greenwich
$1,475,000
2-4 PM
Coldwell Bnkr
130 Woodside Dr.
Greenwich
$1,525,000
2-4 PM
Sotheby’s
36 Arch St.
Old Greenwich
$1,575,000
1-4 PM
Prudential
25 Oval Ave.
Riverside
$1,595,000
2-4 PM
Raveis
21 Cat Rock Rd.
Cos Cob
$1,695,000
2-4 PM
Coldwell Bnkr
16 Norton Ln.
Old Greenwich
$1,695,000
1-4 PM
Raveis
17 Shore Rd.
Old Greenwich
$1,725,000
2-4 PM
Sotheby’s
24 Burning Tree Rd.
Greenwich
$1,749,000
2-4 PM
Sotheby’s
361 Stanwich Rd.
Greenwich
$1,795,000
2-4 PM
Sotheby’s
72 Butternut Hollow Rd.
Greenwich
$1,825,000
1-3 PM
Round Hill Prtnrs
16 Manor Rd.
Old Greenwich
$1,850,000
1-4 PM
Prudential
106 Hunting Ridge Rd.
Greenwich
$1,879,000
1-4 PM
Prudential
79 William St.
Greenwich
$1,975,000
2-4 PM
Coldwell Bnkr
7 Mulberry Ln.
Cos Cob
$1,999,999
1-4 PM
Raveis
49 Pecksland Rd.
Greenwich
$2,087,000
1-3 PM
Shore Cntry
2 Stanwich Ln.
Greenwich
$2,095,000
1-4 PM
Round Hill Prtnrs
108 Cutler Rd.
Greenwich
$2,195,000
2-4 PM
Sotheby’s
112 Taconic Rd.
Greenwich
$2,200,000
1-4 PM
Prudential
95 Valley Rd.
Cos Cob
$2,295,000
1-5 PM
Weichert
24 Meadow Rd.
Riverside
$2,295,000
2-4 PM
Prudential
9 Wallasy Way
Riverside
$2,355,000
1-3 PM
Sotheby’s
18 Flying Cloud Rd.
Stamford
$2,375,000
1-4 PM
Prudential
243 Dolphin Cove Quay, St
Stamford
$2,500,000
1-4 PM
Prudential
96 E. Elm St. #2
Greenwich
$2,595,000
1-4 PM
Sotheby’s
182 Dolphin Cove Quay
Stamford
$2,675,000
1-4 PM
Prudential
41 Hidden Brook Rd.
Riverside
$2,695,000
2-4 PM
Round Hill Prtnrs
11 Grimes Rd.
Old Greenwich
$2,775,000
2-4 PM
Coldwell Bnkr
45 Cedar Cliff Rd.
Riverside
$2,775,000
2-4 PM
Sotheby’s
1 Highgate Rd.
Riverside
$2,895,000
2-4 PM
Round Hill Prtnrs
37 Perryridge Rd.
Greenwich
$2,995,000
1-4 PM
Sotheby’s
191 Shore Rd.
Old Greenwich
$3,100,000
2-4 PM
Sotheby’s
196 Dolphin Cove Quay
Stamford
$3,150,000
1-4 PM
Prudential
230 Bedford Rd.
Greenwich
$3,450,000
1-3 PM
Ogilvy
25 Windabout Dr.
Greenwich
$3,495,000
2-4 PM
Coldwell Bnkr
24 Marks Rd.
Riverside
$3,840,000
2-4 PM
Sotheby’s
26 Marks Rd.
Riverside
$3,840,000
2-4 PM
Sotheby’s
137 Milbank Ave.
Greenwich
$3,995,000
1-4 PM
Sotheby’s
10 Spring House Rd.
Greenwich
$4,350,000
1-3 PM
Round Hill Prtnrs
120 Cummings Point Rd., St
Stamford
$4,395,000
2-4 PM
Sotheby’s
37 Porchuck Rd.
Greenwich
$4,750,000
2-4 PM
Prudential
212 Bedford Rd.
Greenwich
$4,775,000
1-3 PM
Prudential
69 Rockwood Ln.
Greenwich
$6,495,000
2-4 PM
Sotheby’s
18 Chimney Corner Ln.
Greenwich
$10,750,000
2-4 PM
Coldwell Bnkr