- the number of units sold increased in 2011 over 2010
- the average sold price remained within 1% of the 2010 average sold price.
- Inventory available is slowly dropping, but is still generous.
- there are over nine months of houses available and more than a year's supply of condos and coops.
- Greenwich prices are holding, and have not decreased or increased markedly in the last two years.
IT IS STILL A BUYER'S MARKET!
- People need to move--downsizing, upsizing, tranferring in and out of the community, buying a first home--life goes on. With today's low interest rates, and if inflation continues at 3% a year, and you want to live in your home for 5 or more years, buying definitely outperforms renting.
- Historically, buyers are most active starting at the beginning of February (after the SuperBowl) through September--80% of GR sales in 2011 occurred during those ten months. The 'shelf months' October through January, had 20% of the total sales for the year.
- Note: In the midst of preparing and recovering from the holidays, dedicated buyers were out there through snow, sleet, rain, shopping and cookie making!!
- During 2011, the median single family home in GR sold in the mid teens, while the average single family home sold at the mid two million mark.
- Condo/coop: average price; ~$760,000 About 1/3 of condos sold were over the $1 million price.
GR is a viable housing market. The world and U.S. economy have affected us all. How long before we see inventory reduced to minimal and prices increase markedly is unknown. Historically, it's always happened, and if the world can recover, certainly our town will.
Books I have read;
The Dovekeeper by Alice Hoffman.
This is not a short book, but it is a fascinating one. It is about the Jews flight from Jerusalem, in 70 ce, their retreat to Masada, a fortress in what is today Palestine where they fought the Romans. The story evolves around the lives of four women, and the themes are fate/destiny,religion/love,and the depths of devotion, custom/secrets along with magical elements. There's an assassin's cloak that makes the wearer invisible, amulets that protect the wearer from harm;a lead character that magnetically attracts birds, and a witch whose spells actually work.
I found the scenery, the historical backdrop, the suspense, the love stories, the bravery and ingenious resolutions captivating. I'd recommend immersing yourself in the fantasy and lushness of it all.
The Social Animal, by David Brooks.
This book explains through examples and the development of two characters from childhood until old age, how our social/emotional experiences have major impacts on all our decisions, and how some traits are inbred in all of us and affect our opinions and sense of justice.
Brooks has done his research, his style is totally readable, and at times quite humorous.
A good read for a new perspective on life, love and decisions.
Until next time, and feel free to let me know if there is something in particular in the real estate market that you'd like me to blog about.
Prudential CT Realty
b: 203-637-1713, x327