Housing Has Been Winning Hearts And Minds

January 22, 2021

Wait for it…

And then wait for it again…

But I digress…

Unfortunately, this will be an abbreviated housing note this week.

But I digress again…

Greenwich Connecticut Breaks Sales Records

I’ve been the author of an expanding series of market reports for Douglas Elliman since 1994. This week Douglas Elliman published our research that covered Fairfield County and Greenwich, Connecticut.

Apparently, the 350K subscribers of the Bloomberg Terminals liked to read about Greenwich, making this the fourth most emailed article on the morning of the release.

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FAIRFIELD COUNTY SALES HIGHLIGHTS

Elliman Report: Q4 2020 Fairfield County Sales

“After the end of the COVID lockdown last spring, price trends are rising to new records as listing inventory falls to new lows.”

– Highest year over year increase in sales in more than eight years and the most fourth-quarter sales in sixteen years
– Average sales price and average price per square foot surged year over year to record highs
– Listing inventory fell to its lowest level in twenty-five years
– More than one-third of all single family sales closed above the last list price
– With the surge in sales levels at the upper end of the market, luxury listing inventory fell to its lowest level tracked in our research

________________________________________________
GREENWICH SALES HIGHLIGHTS

Elliman Report: Q4 2020 Greenwich Sales

“Sales surged higher year over year, rebounding quickly from the decline in spring market activity at the onset of the COVID crisis.”

– Single-family sales surged to their second-highest level in at least a decade
– Single-family listing inventory fell year over year at its fastest rate in more than six years
– Condo sales nearly doubled from the prior-year quarter, the second straight quarter with an annual sales surge
– The Back Country and Mid Country regions showed their fastest-moving pace in nearly six years of tracking
– Luxury listing average sales size was the third-highest on record

NYT Calculator Shows The Surging Progression of New Lease Signings

In what promises to be a monthly thing, I provided data and insights for the graphics column in the New York Times Real Estate section this weekend. I’m super excited about this. Here’s the first: Manhattan Lease Signings Are Booming. Is It Enough for a Recovery?

Getting Graphic

Our favorite charts of the week

Len Kiefer‘s Chart Handiwork

Appraiserville

(For earlier appraisal industry commentary, visit my old clunky REIC site.)

GoFundMe: Help Scott Robinson’s Family Through a Tough Time

This circumstance is just awful – I can’t imagine how tough it is on his family.

Scott Robinson took a catastrophic fall on January 13, 2021 and sustained a serious head injury. After a week of being in and out of the hospital, Scott is finally home and recuperating. However, he and his family are facing a path of physical therapy and recovery that could last a while.

I hope my readers can help out by going here.

OFT (One Final Thought)

And a pallete cleanser for the weekend…

Brilliant Idea #1

If you need something rock solid in your life (particularly on Friday afternoons) and someone forwarded this to you, or you think you already subscribed, sign up here for these weekly Housing Notes. And be sure to share with a friend or colleague if you enjoy them because:

– They’ll be faster;
– You’ll befaster;
– And I’ll try not to pull a hamstring.

Brilliant Idea #2

You’re obviously full of insights and ideas as a reader of Housing Notes. I appreciate every email I receive and it helps me craft the next week’s Housing Note.

See you next week.

Jonathan J. Miller, CRP, CRE, Member of RAC
President/CEO
Miller Samuel Inc.
Real Estate Appraisers & Consultants
Matrix Blog
@jonathanmiller

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