|
The Market Report GREENWICH – 2009 YEAR-END |
2009 – Weathering the Storm
Presented by Gloria McDonald
Nationally, 2009 was a year of many challenges and drastic declines in many markets around the country. Fortunately for everyone, the Greenwich real estate market held relatively well in prices. Except for softness in the number of all properties sold, the average price of single family homes declined only slightly. And although inventory was up at the beginning of 2010, interest rates are at all-time lows for buyers. Given the attractiveness of our community and economic stimulus plans, the Greenwich market remains an attractive investment and a highly desired location.
2009 Year-End Single Family Comparison Report
2008 2009
|
Area |
# Sold |
Avg. Sale Price |
# Sold |
% Incr. |
Avg. Sale Price |
% Incr. |
% Selling Price/ Listing Price |
Avg. Days On Market |
|
|
|
|
|
|
|
|
|
|
|
Greenwich |
205 |
$3,429,881 |
165 |
-19.5 |
$3,617,028 |
5.5 |
88.5 |
268 |
|
Old Greenwich |
63 |
$2,062,848 |
59 |
-6.3 |
$1,797,606 |
-12.9 |
91.8 |
182 |
|
Cos Cob |
50 |
$1,444,393 |
49 |
-2.0 |
$1,249,104 |
-13.5 |
91.4 |
196 |
|
Riverside |
80 |
$2,734,695 |
53 |
-33.8 |
$2,074,909 |
-24.1 |
90.2 |
182 |
|
TOTAL |
398 |
$2,824,321 |
326 |
-18.1 |
$2,681,119 |
-5.1 |
89.8 |
228 |
2008 vs. 2009 Property Type Comparison
2008 2009
|
|
# Sold |
Avg. Price |
# Sold |
% Incr. |
Avg. Price |
% Incr. |
|
Single Family |
398 |
$2,824,321 |
326 |
-18.1 |
$2,681,119 |
-5.1 |
|
Condominium |
122 |
$823,854 |
90 |
-26.2 |
$818,398 |
-0.7 |
|
Multi-family |
8 |
$1,167,750 |
10 |
25.0 |
$626,400 |
-46.4 |
|
Land |
9 |
$3,362,222 |
12 |
33.3 |
$3,032.792 |
-9.8 |
2009 Sold Listings by Price Range
|
Price Range |
# Sold |
% Total |
|
UNDER $649,999 |
32 |
9.8 |
|
$650,000 to $799,999 |
28 |
8.5 |
|
$800,000 to $999,999 |
37 |
11.3 |
|
$1,000,000 to $1,499,999 |
45 |
13.7 |
|
$1,500,000 to $1,999,999 |
42 |
12.8 |
|
$2,000,000 to $2,999,999 |
52 |
15.9 |
|
$3,000,000 to $3,999,999 |
33 |
10.1 |
|
$4,000,000 to $4,999,999 |
19 |
5.8 |
|
$5,000,000 to $7,499,999 |
23 |
7.0 |
|
$7,500,000 to $9,999,999 |
5 |
1.5 |
|
OVER $10,000,000 |
12 |
3.6 |
Weichert Capital Properties & Estates Source: Greenwich Multilisting
