Darien CT Real Estate Guide » Blog

The Cyclical Nature of the Greenwich Real Estate Market

Scott Elwell — Thu, 29 Jul 2010 20:24:47 +0000

For the past couple months on Facebook and Twitter, I have been talking about the relative levels of Greenwich’s real estate inventory between this year, 2010 and last. Since December 2009, our current year’s level of inventory of homes has held lower than the last. This discrepancy has sparked more confidence (from me) in the Greenwich market turning. Now, in addition, we are starting to see a drop in inventory on an actual basis. Although, I consistently tell people to throw out any assumptions they may be able to draw from the past 20 or so years because those rules and trends do not seem to apply in today’s incomprehensible market, I believe this decrease in inventory is due to the cyclical nature of the market.

August and September are funny months for real estate because summer ends and school starts. Not many families want to be looking for real estate at this time. Most families are either in contract or have bought their house so their kids are ready for school (see the sales graph). Sellers know this, so they try to list their house before this lack of interest in moving comes up. I believe that this is what we are seeing. I’d love to state that we are going to have a run up in prices because of this tick down in inventory, but I believe that this is, in fact, cyclical.

Scott Elwell Joins Al Filippone Associates Expanding Team Coverage into Greenwich

Al Filippone Associates — Thu, 22 Jul 2010 19:25:18 +0000

Greenwich realtor, Scott Elwell joins the Al Filippone Associates team at William Raveis Real Estate. With BAs in both Economics and Computer Science from Trinity College and an MBA in Real Estate from the University of Wisconsin-Madison, Scott has devoted his education to studies that give him a unique perspective to help today’s homebuyer navigate an ever-changing, complicated market. Before joining Al Filippone Associates, Scott spent 5 years in residential lending and 3 years in commercial portfolio management at ING Clarion (subsidiary of ING Real Estate). Scott was born and raised in Greenwich, CT, attending Greenwich Country Day School for 12 years before going to high school at Tabor Academy.

Home Sales Report for Darien, CT June 2010

Deirdre McGovern — Thu, 15 Jul 2010 20:57:09 +0000

The trend of strong Darien, CT home sales continued through the month of June with a large number of closings across every price range. With interest rates as low as 4.5 percent for a 30 year fixed mortgage, now is definitely the time to make a move. Although, there is still some uncertainty across the country about housing prices, Darien seems to have stabilized. Darien, CT has always had a strong demand due to it’s proximity to Manhattan, great school system, and affordable taxes. Now Darien is also having a greater appeal to people relocating especially with the influx of financial institutions that have relocated to Stamford, CT, a five minute commute from Darien.

Darien Home Sales June 2010

Address	Sq Ft	Close Date	List Price	Sale Price
3 Hale Lane	900	6/29/10	$470,000	$450,000
86 West Avenue	1336	6/21/10	$540,000	$500,000
15 Garden City	1566	6/22/10	$569,000	$565,000
369 Hoyt Street	1460	6/21/10	$599,000	$570,000
36 Fitch Ave.	1075	6/24/10	$618,000	$562,500
14 Henry Street	1380	6/29/10	$669,000	$669,000
*549 Hoyt Street	2150	6/24/10	$799,000	$760,000
13 Chestnut Street	2302	6/25/10	$849,000	$840,000
23 Denhurst Place	2015	6/15/10	$859,000	$800,000
38 Middlesex Road	1830	6/3/10	$925,000	$840,000
29 Chasmars Pond	2124	6/28/10	$949,000	$910,000
*95 Mansfield Avenue	3418	6/11/10	$995,000	$840,000
64 Middlesex Road	2832	6/19/10	$1,029,000	$1,029,000
18 Patricia Lane	2400	6/1/10	$1,080,000	$1,050,000
347 West Avenue	3037	6/4/10	$1,095,000	$997,000
12 Gardiner Street	2274	6/3/10	$1,099,000	$1,070,000
27 Middlesex Road	2500	6/23/10	$1,150,000	$1,150,000
19 Salisbury Road	3603	6/25/10	$1,195,000	$1,000,000
45 Cedar Gate Road	3120	6/11/10	$1,275,000	$1,275,000
6 Saddle Ridge Road	2261	6/28/10	$1,295,000	$1,200,000
5 Birch Road	2829	6/29/10	$1,390,000	$1,250,000
8 Miles Road	2789	6/11/10	$1,395,000	$1,395,000
2&4 Eddy Lane	LOT	6/9/10	$1,400,000	$1,212,500
12 Hillside	4000	6/3/10	$1,495,000	$1,475,000
23 Stanton Road	3100	6/30/10	$1,575,000	$1,500,000
8 Midbrook Lane	3092	6/7/10	$1,695,000	$1,510,000
70 Coachlamp Lane	3800	6/4/10	$1,750,000	$1,670,000
6 Forest Road	3800	6/16/10	$1,795,000	$1,700,000
22 Outlook Drive	3212	6/29/10	$1,895,000	$1,875,000
6 Whaling Road	4674	6/3/10	$1,995,000	$1,817,500
*173 Middlesex Road	3630	6/2/10	$1,999,000	$1,800,000
17 Brushy Hill	5261	6/30/10	$2,175,000	$1,800,000
38 Red Rose Circle	5275	6/30/10	$2,195,000	$2,200,000
29 Beach Drive	3488	6/4/10	$2,295,000	$2,100,000
2 Fox Hill Lane	4922	6/15/10	$$2,750,000	$2,650,000
43 Blueberry Lane	5051	6/21/10	$3,295,000	$3,000,000
7 Juniper Road	6227	6/29/10	$3,295,000	$3,000,000
134 Five Mile River	4518	6/21/10	$3,995,000	$3,750,000
55 Blueberry Lane	9056	6/15/10	$4,599,000	$4,599,000

Darien, CT 2nd Quarter 2010 Real Estate Statistics

Al Filippone Associates — Wed, 14 Jul 2010 16:33:28 +0000

The Darien housing market 2Q results saw an increase in sales activity and average sale price. The Average Sale price of a Darien property increased by 16.5% to $1,629,665 and the number of homes sold increased by 66.7% to 80 homes, when compared to the 2Q 2009. Darien a picturesque residential community, offering a vibrant downtown, scenic Long Island sound coastline, excellent schools and close proximity to New York remains a desirable real estate location.

Highlights:

• The Avg. List price of a home increased 10.5% to $1,730,656 in 2Q 2010 vs. $1,565,839 in 2Q 2009.

• The Avg. Sale price of a home increased 16.5% to $1,629,665 in 2Q 2010 vs. $1,398,463 in 2Q 2009.

• The Avg. Days on Market increased to 160 days in 2Q 2010, 112 days vs. 2Q 2009 and 117 days vs. 2Q 2008.

• The number of home listings taken increased 20.8% to 209 homes in 2Q 2010 vs. 173 homes in 2Q 2009 and was up 1.5% from 2Q 2008.

• The number of homes sold increased 66.7% to 80 homes in 2Q 2010 vs. 48 homes sold in 2Q 2009 and was up 29% when compared to the same period in 2Q 2008.

• LP/SP ratio increased 4.9% in 2Q 2010 to 94.2% vs. 89.3% in 2Q 2009.

2nd Q 2010 Darien Market Statistics

Single Family Homes	Closed	Listings Taken	Avg. List $	Avg Sale $	Sale:List $	Mrkt Time
2nd Q 2010	80	209	$1,730,656	$1,629,665	94.2%	160
2nd Q 2009	48	173	$1,565,839	$1,398,463	89.3%	112
2nd Q 2008	62	206	$1,816,635	$1,700,870	93.6%	117
% Change from '09	66.7%	20.8%	10.5%	16.5%	4.9%	48 days
% Change from '08	29%	1.5%	-4.7%	-4.2%	.6%	43 days

Darien Realtor, Linda Blackwell, Earns Top Home Sales Award 2 Months in a Row!

Al Filippone Associates — Mon, 12 Jul 2010 14:58:16 +0000

Congratulations to Linda Blackwell for Top Producer honors at Al Filippone Associates Darien for the months of May and June. Linda listed and sold the most homes these past two months. To learn more about her, read her bio and view her current listings.

Darien May 2010 Monthly Real Estate Statistics

Al Filippone Associates — Tue, 15 Jun 2010 18:58:04 +0000

Darien May home sales were up a healthy 56.3%, with 25 homes sold in May 2010 vs.16 sold in May 2009.

As interest rates remain low and economic forecasts predicting slow, but steady growth through the middle of next year*, our real estate market should continue to see improved activity. With that said, the real estate market still proves challenging and now more than ever, home sellers need the council of an experienced and highly skilled real estate agent to market and negotiate the sale of their home from list date on through to the closing table!

*WSJ,(6.09.10)

Highlights:

• The Avg. List price of a home was up 23.7% to $2,040,720 in May 2010 vs. May 2009.
• The Avg. Sale price of a home was up 30.6.% in May 2010 to $1,934,370 in May 2010 vs. May 2009.
• The Avg. Days on Market was up 59 days in May 2010 vs. May 2009 and was up 82 days when compared to May 2008.
• The number of home listings taken was up 6.8% to 63 homes in May 2010 vs. May 2009 and down 19.2% from May 2008.
• The number of homes sold was up a healthy 56.3% to 25 homes in May 2010 vs. 16 homes sold in May 2009.
• LP/SP ratio adjusted up 5% in May 2010 vs. the same period in 2009.

May 2010 Darien Market Statistics

Single Family Homes	Closed	Listings Taken	Avg. List $	Avg Sale $	Sale:List $	Mrkt Time
May 2010	25	63	$2,040,720	$1,934,370	94.8%	196
May 2009	16	59	$1,649,993	$1,481,171	89.8%	137
May 2008	26	78	$1,901,076	$1,784,038	93.8%	114
% Change from '09	56.3%	6.8%	23.7%	30.6%	5%	59 days
% Change from '08	-3.8%	-19.2%	7.3%	8.4%	1%	82 days

Mom of Four is a Darien Real Estate Property Pro!

Al Filippone Associates — Sun, 13 Jun 2010 14:46:08 +0000

Jacqueline Burt, writer for www.thedailynorwalk.com highlights Jill Brannigan Keating and her exclusive listing at 111 Ridge Acres Road in Darien. “The real estate industry may be challenging for some, but Jill Keating Brannigan can handle just about anything.” Yes she can! Read more of “Mom-of-Four is a Property Pro”.

Darien Home Sales for May 2010

Deirdre McGovern — Mon, 07 Jun 2010 15:39:09 +0000

The Darien Spring market is on fire and has extended into the early Summer. As you can see, 25 homes closed in May, which has been the biggest real estate sales month in over a year. We are finding that when homes are priced well and staged to show there value, buyers are willing to make a purchase and sometimes even above asking price. We are also seeing a resurgence in sales at a higher price point, which has been lacking since the market downturn over a year ago. Optimistically speaking, if you have been sitting on the sideline, now is the time to take advantage of historically low interest rates and make a move.

* Exclusively Listed by Al Filippone Associates @ William Raveis R.E.

Darien Home Sales May 2010

Address	Sq Ft	Close Date	List Price	Sale Price
23 Hoyt Court	1472	5/5/10	$499,000	$430,000
9 Lillian Terrace	1840	5/21/10	$749,000	$719,000
* 54 Camp Avenue	1543	5/7/10	$749,000	$730,000
7 Devon Road	1989	5/7/10	$859,000	$817,250
5 Archer Lane	1704	5/10/10	$929,000	$888,000
12 Mansfield Place	2406	5/24/10	$1,065,000	$940,000
2 Queens Lane	4700	5/14/10	$1,475,000	$1,237,500
4 Partridge Lane	2994	5/21/10	$1,295,000	$1,295,000
8 Gardiner Street	3094	5/27/10	$1,379,000	$1,451,000
1 Red Mill Lane	3500	5/14/10	$1,595,000	$1,500,000
42 Beach Drive	2800	5/20/10	$1,875,000	$1,650,000
146 Brookside Rd	2652	4/1/10	$1,895,000	$1,705,000
294 Hollow Tree Rdg	3960	5/7/10	$1,599,000	$1,739,500
13 Outlook Dr	2887	5/6/10	$1,795,000	$1,800,000
210 Brookside Rd	4157	5/3/10	$1,999,000	$1,920,000
54 Stanton Rd	4100	5/14/10	$2,100,000	$2,030,000
29 Outlook Drive	3800	5/20/10	$2,295,000	$2,062,500
36 Shields Road	3548	5/5/10	$2,195,000	$2,100,000
102 Long Neck Pt	4579	5/6/10	$2,800,000	$2,525,000
* 38 Old Farm Road	2521	5/14/10	$2,699,000	$2,644,500
8 Half Mile Road	3701	5/4/10	$3,500,000	$$2,825,000
68 Arrowhead Way	5950	5/18/10	$3,299,000	$3,350,000
15 Allwood Road	6947	5/4/10	$3,698,000	$3,650,000
8 Shady Acres Rd	8157	5/4/10	$4,125,000	$3,900,000
366 Hollow Tree Rdg	6775	5/12/10	$4,550,000	$4,450,000

April 2010 Home Sales Report for Darien, CT

Deirdre McGovern — Sat, 15 May 2010 19:56:39 +0000

Typically, the Spring market should be winding down, but there are still plenty of buyers shopping. We have seen a dramatic increase in April 2010 sales over April 2009. The number of Darien home sales has increased by 128%. Average sale price has increased 13%. Average market time has also gone up from 101 days to 125 days.

Darien Home Sales April 2010

Address	Sq Ft	Close Date	List Price	Sale Price
19 Anthony Ln.	1616	4/23/10	$589,000	$562,500
276 West Ave.	1579	4/30/10	$679,000	$650,000
31 Walmsley Rd.	1436	4/16/10	$799,000	$790,000
12 Catalpa Ter.	2200	4/30/10	$799,000	$790,000
14 West Elm St.	2621	4/5/10	$859,000	$859,000
80 Brookside Rd.	2106	4/9/10	$859,000	$870,000
21 Oak Crest	2134	4/1/10	$1,295,000	$1,250,000
39 Edgerton St.	3678	4/30/10	$1,359,000	$1,250,000
23 Royle Rd.	2784	4/19/10	$1,395,000	$1,380,000
25 Andrews Dr.	3686	4/6/10	$1,595,000	$1,525,000
49 Mansfield Ave.	2850	4/15/10	$1,685,000	$1,550,000
7 Chester Rd.	3000	4/1/10	$1,625,000	$1,575,000
67 Deepwood Rd.	3379	4/21/10	$1,695,000	$1,610,000
51 Arrowhead Way	3800	4/30/10	$2,300,000	$2,070,000
10 Searles Rd.	3682	4/14/10	$2,495,000	$2,200,000
276 Mansfield Ave.	8972	4/1/10	$5,199,000	$4,700,000

Darien, CT Real Estate Monthly Statistics April 2010

Al Filippone Associates — Sat, 15 May 2010 19:20:35 +0000

Darien April home sales were up a healthy 128.6% when compared to the same period in 2009. The Avg. Home sale price also improved by 13.1% in April 2010 vs. April 2009. Home sellers position themselves for success when their home selling strategy includes a well executed marketing plan, home staging, competitive pricing and technology driven exposure.

Highlights:

• The Avg. List Price of homes was up 7.1% to $1,578,937 in April 2010 when compared with April 2009.

• The Avg. Sale Price of homes increased by 13.0% to $1,476,968 in April 2010 vs. April 2009.

• Avg. Days on Market was up 24 days to 125 days in April 2010 vs. April 2009 and down 15 days vs. 2008.

• # of Home Listings Taken was up 37.3% in April 2010 when compared to the same period a year ago.

• # of Home Listings Sold was up a substantial 128.6% to 16 homes sold in April 2010 vs. April 2009 and up 14.3% when compared to April 2008.

• LP/SP ratio was up 4.9% in April 2010 to 93.5% vs. April 2009.

April 2010 Darien Market Statistics

Single Family Homes	Closed	Listings Taken	Avg. List $	Avg Sale $	Sale:List $	Mrkt Time
April 2010	16	81	$1,578,937	$1,476,968	93.5%	125
April 2009	7	59	$1,474,071	$1,306,642	88.6%	101
April 2008	14	58	$1,783,528	$1,658,000	93.0%	140
% Change from '09	128.6%	37.3%	7.1%	13%	4.9%	24days
% Change from '08	14.3%	39.7%	11.5%	-10.9%	.5%	-15 days