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2012 Greenwich, CT Real Estate Market Report

2012 Greenwich, CT Real Estate Market Report

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Published by Jack Sarsen
The December 2012 and Year-end issue of the Greenwich, CT Real Estate Market Report covering single family homes sold in Greenwich, Cos Cob, Riverside and Old Greenwich Connecticut. The author, Jack Sarsen, is a Realtor with David Ogilvy & Associates, an exclusive affiliate of Christie's International Real Estate. Please help us improve this report by providing your comments and suggestions to jsarsen@gmail.com.
The December 2012 and Year-end issue of the Greenwich, CT Real Estate Market Report covering single family homes sold in Greenwich, Cos Cob, Riverside and Old Greenwich Connecticut. The author, Jack Sarsen, is a Realtor with David Ogilvy & Associates, an exclusive affiliate of Christie's International Real Estate. Please help us improve this report by providing your comments and suggestions to jsarsen@gmail.com.

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Categories:Types, Business/Law
Published by: Jack Sarsen on Feb 13, 2013
Copyright:Attribution Non-commercial

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04/25/2013

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Source: Greenwich MLS1
Greenwich Real Estate Monthly Market Report - December 2012Including the 2012 Annual Market Report
Courtesy of Jack SarsenDavid Ogilvy & Associates, Christie’s International Real Estate203-253-0476 | jsarsen@gmail.com
December 2012 Summary 2012 Annual Summary
 Single Family Homes Sold 
68
Single Family Homes Sold
578
  Average Original List Price 
$3,169,660
 Average Original List Price
$2,759,982
  Average List Price 
$2,986,779
 Average List Price
$2,598,094
  Average Sale Price 
$2,733,079
 Average Sale Price
$2,387,773
  Average Days on Market  
196
 Average Days on Market 
161
 
Greenwich home prices are still 21% off 2007 highs but comparable home values have stabilized andprices are heading up again. The second half of 2012 ended higher on both price and volume. Although 2012 average prices were down 1.73% vs. 2011, average prices over the last 6 months of 2012 were actually up 3.2% over all of 2011. The $14.1M ‘highest price’ paid for a home in 2012, was thelowest ‘highest price’ paid since 2001. In 2011 there were two $30M+ sales totaling $76M. Removingthese two sales from the averages puts 2012 prices 3.74% higher than 2011.2012 single-family home sales volume of 578 finished 10% higher than 2011(526), due in part to astronger than average December volume bolstered by sellers wishing to avoid the higher capital gainstaxes in 2013. This marks three consecutive years of strong increases – up 74% since the 2009 low of 333 homes sold. Although volume is still 21% lower than the 730 homes average posted between 1999and 2007, this three-year trend is encouraging as we start 2013.
December 2012 Single Family Homes Average Sales Price by Area
TOTALSOLDORIG AVGLIST PRICEAVG LISTPRICEAVG SALEPRICE% SALETO LISTAVGDOMGREENWICH
40$3,664,622$3,475,525$3,142,02190.40%220
COS COB
10$1,305,800$1,248,200$1,143,85091.64%146
RIVERSIDE
11$3,320,364$3,008,091$2,819,34593.73%183
OLD GREENWICH
7$2,767,143$2,644,143$2,531,04395.72%150
TOTAL
68$3,169,660$2,986,779$2,733,08091.51%196
 
 
Source: Greenwich MLS2
December 2012 Single Family Homes Sold by Price Range
GREENWICH COS COB RIVERSIDE OLD GREENWICH TOTALUnder $1M
7431
15
$1M - $2M
10622
20
$2M - $3M
5042
11
$3M - $4M
7011
9
$4M - $5M
3000
3
$5M - $7.5M
5001
6
$7.5M - $10M
3000
3
$10M+
0010
1
 
4010117
68
 2012 Single Family Homes Average Sales Price by Area
TOTALSOLDORIG AVGLIST PRICEAVG LISTPRICEAVG SALEPRICE% SALETO LISTAVGDOMGREENWICH
291$3,350,120$3,123,686$2,833,23490.70%188
COS COB
78$1,374,954$1,302,705$1,224,82294.02%139
RIVERSIDE
122$2,390,029$2,280,702$2,135,38293.63%118
OLD GREENWICH
87$2,546,607$2,446,543$2,294,35993.78%152
TOTAL
578$2,759,982$2,598,094$2,387,77391.90%161
 2012 Single Family Homes Sold by Price Range
GREENWICH COS COB RIVERSIDE OLD GREENWICH TOTAL% OFSALESUnder $1M
74413524
174
30.10%
$1M - $2M
77294422
172
29.76%
$2M - $3M
4432126
94
16.26%
$3M - $4M
33567
51
8.82%
$4M - $5M
15061
22
3.81%
$5M - $7.5M
27074
38
6.57%
$7.5M - $10M
11011
13
2.25%
$10M+
10022
14
2.42%
 
2917812287
578
 
Source: Greenwich MLS3
2012 Monthly Single Family Homes Average Sales Price by Area
 Jan Feb Mar Apr May Jun
GREENWICH
$3,166,738$1,949,536$2,461,175$3,250,639$2,781,061$2,425,511
COS COB
$1,876,000$648,750$1,296,091$1,230,500$1,390,625$1,025,625
RIVERSIDE
$2,476,667$3,462,000$2,244,500$1,051,111$2,222,778$1,788,912
OLD GREENWICH
$2,535,833$1,916,667$2,272,458$1,823,000$1,814,450$3,074,490
 ALL AREAS AVG.
$2,933,009$2,095,174$2,245,474$2,249,703$2,254,242$2,200,782
 Jul Aug Sep Oct Nov Dec
GREENWICH
$3,134,320$2,562,617$3,078,029$2,934,464$2,993,611$3,142,021
COS COB
$1,218,568$1,412,500$907,958$982,500$1,516,500$1,143,850
RIVERSIDE
$2,034,063$2,220,632$3,238,500$1,490,750$2,026,364$2,819,345
OLD GREENWICH
$2,520,337$1,938,000$2,701,090$1,885,938$1,910,988$2,531,043
 ALL AREAS AVG.
$2,513,481$2,198,594$2,808,811$2,270,459$2,429,323$2,733,080
 
Chart: 2012 Monthly Single Family Homes Average Sales Price by Area
 

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