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Blog :: 04-2014

Greenwich, CT: A Great Community To Buy or invest In Real Estate

With great schools, fabulous culture, recreation, quality of life, low property taxes  and easy access to New York City Greenwich has it all. Less than one hour by car or train Greenwich real estate prices over incredible value as compared to the New York City market which seems to have gotten over inflated post-2008 in only a matter of a few years. Come take a look at Greenwich and see how convenient it is to New York City and its airports and how it offers a much bigger value proposition located less than one hour away from Manhattan (AND NO MANSION TAX).




2014 Greenwich Spring Market Slow to Start

Greenwich Market Report Snap Shot: 2014


Greenwich single family new contracts are down 37.1% for April (39 vs. 62 in 2013) and down 25.9% YTD (143 vs. 193 in 2013).

Greenwich single family sales are down 22.6% for April (24 vs. 31 in 2013) and down 0.8% YTD (121 vs. 122 in 2013).

Greenwich median sale price is $2,225,000.

Source: Greenwich MLS, 1/1/14 through 4/22/14



Greenwich Public Hearing: Flood Zones: May 6th



Town of Greenwich Public Hearing on Grade Plane and Flood Zone Regulations

A public hearing will be held on May 6, 2014 to hear the proposed flood zone regulations. The main change is regarding grade plane, which should held people build homes that meet the flood zone regulations. The two additional changes are to clarify the language regarding flood vents and substantial improvement.

Contact the Town of Greenwich at 203.622.7700 for more information.


Asian Real Estate Assoc: Global and Luxury Summit

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What a great and productive event this past weekend, meeting and collaborating with International real estate colleagues at New York's Waldorf Astoria on Park Avenue at the Asian Real Estate Association of America Global & Luxury Summit. Organizers gathered key players from across the world to discuss growing opportunities with Asian investors buying in our local markets, including our own Greenwich, Connecticut. Exciting opportunities for my Sotheby's International Realty® clients.


"The Sotheby's International Realty® brand is proud to support AREAA's efforts, and I personally am very pleased to act as co-chair of this year's event, having participated in many of the organization's conferences over the last several years," said Philip White, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "This is an exciting time for the luxury real estate industry, as we continue to see many significant sales and listings globally, so the focus on the high-end sector is very timely. We also have seen a growth in Asian investors buying outside of their respective countries, making the work of AREAA critical at this time."


AREAA Colleagues, Global & Luxury & Summit 2014


According to a recent National Association of Realtors (NAR) study, the total sales volume that was conducted   by international sales in the United States totaled over $68 billion in 2013. The booming international markets, as defined in recently published survey, indicates that New York, San Francisco, Washington DC, Houston, Boston and Los Angeles markets are top ranking USA cities for real estate investment.







Great New Mid-Country Home Listed: $2,950,000: 5,448 SQ. FT.


This lovely five-bedroom, six-plus bath 1990 built Colonial in Greenwich CT is set down a long driveway in a enclave of homes with a nicely manicured 1.54 park-like acres. The grounds feature specimen mature trees and shrubs, lovely perennial gardens, well maintained by a lawn and landscape irrigation system.  On the interior most areas have exceptionally high ceilings including the magnificent two-story marble entryway with double coat closets, an elegant formal dining room, a large step-down formal living room with fireplace, an immense island kitchen with quality appliances and sunny south-facing breakfast area. There is a spacious step-down family room with handsome stone fireplace and a first-floor guest suite completing the main floor. On the second floor there is a grand master suite with sitting area and fireplace, double walk-in and double-door closets, master bath with large whirlpool, double vanities, stall shower and separate private commode. Completing this floor there are three-bedrooms all with private baths and a pull down attic. On the lower level there is an exercise room and large wine cellar. Security system, central vacuum. Three-car garage. Come take a look today or contact me for more information.


EdMort_BlogPanels_Real Estate News


Market Report: First Quarter 2014 

Source: Greenwich MLS: 1/1/2014 through 3/31/2014

  • Greenwich single family new contracts are down 42.2% for March (26 vs. 45 in 2013) and down 27.0% YTD (84 vs. 115 in 2013)
  • Greenwich single family closed sales are down 12.5% for March (21 vs. 24 in 2013) and  up 8.4% YTD (90 vs. 83 in 2013).
  • Greenwich average sale price is $2,742,963
  • Greenwich median sale price is $2,237,500


Contact me if you have any questions about the Greenwich CT real estate market.