Darien and Rowayton 2014 Market summary & Open Houses this Sunday

A cold snowy week but temperatures will warm up for the weekend. And below, my long awaited 2014 market summary for Darien & Rowayton.

Darien

21 Baywater Drive - $3,789,000 - 1 to 3 p.m. - Halstead

11 Huckleberry Lane - $3,395,000 - 1 to 3 p.m. - Kelly

67 Salem Straits - $3,249,000 - 1 to 3 p.m. - Halstead

35 Hillsley Rd - $3,199,000 - 1 to 3 p.m. - William Raveis

16 Raiders Lane - $2,795,000 - 1 to 3 p.m. - Halstead

15 Kensett Lane - $1,695,000 - 12 to 2 p.m.

260 West Ave - $699,000 - 1 to 3 p.m. - William Raveis

Rowayton

10 Juniper Rd - $1,675,000 - 2 to 4 p.m. - William Raveis

12 Crest Rd - $949,000 - Saturday 1 to 3 p.m. - Coldwell Banker

2014 Darien & Rowayton Market summary

Darien

Darien had another good year in 2014 with 277 properties sold, which slightly lower than the 285 of 2013 and 286 of 2012.

2014: 277 properties sold

2013: 285 properties sold

2012: 286 properties sold

The average sales price was about the same as 2013, but higher than 2012. The list to sales price is about the same as 2013 at just over 96%

2014: List $1714K Sold $1,654K

2013: List $1,714K Sold $1,647K

2012: List $1,599K Sold $1,515K

The median sales price is up 11% from 2013, and up almost 20% from 2012! This means there are more properties selling on the higher end then there were.

2014: $1,495K

2013: $1,335K

2012: $1,200K

The average price per SF has been pretty consistent the past few years but is up about 3.5% this year over last year.

2014: $501/SF

2013: $484/SF

2012: $464/SF

The average DOM (days on market) is down 14% from 2013. This is from the time a house is listed until the time of contract signing, not time of closing.

2014: 113 days

2013: 131 days

2012: 130 days

The highest sale was 122 Delafield Island at $8,750,000 with a list price of $11,500,000. The next highest was 24 Brush Island Rd at $6,700K with a list price of $7,600,000. The lowest sales were both $325K. 22 Greenwood Ave with a list price of $325K, and 498 Hoyt St with a list price of $349K.

Inventory

In 2014 inventory overall was low. In 2012 we had as many as 235 listings in April and May - the height of the Spring Market. But in 2013 and 2014 we had just over 180 in that period. Lower inventory creates more of a sellers’ market as there is less competition and fewer choices for buyers.

There are 85 houses on the market right now. That number could more than double as we can typically have 180-230 listings in April and May. Thinking of listing your house? Call me so we can get it ready. Spring market is starting!

Overall I would say the Darien market it up slightly over last year. Average price is about the same, but the median price is way up. The number of sales is down a bit. But the days on market is down quite a bit, so things are selling more quickly. As usual, if a house is priced right for its condition, location, size, and is ‘staged’ to show, it will sell fairly quickly. .

Rowayton

Rowayton had a great year in terms of number of solds – 81 properties sold in 2014 compared to 74 in 2013. That is a 9% increase, and is the largest number of houses sold since 2006.

2014: 81 properties sold

2013: 74 properties sold.

2012: 62 properties sold

The average sales price in Rowayton is up over 2013 by about 9%. The list to sales price ratio is also up at 96% compared to 94% in 2013.

2014: List $1,426K Sold $1,360K

2013: List $1,321K Sold $1,240K

2012: List $1,394K Sold $1,304K

The median sales price is about the same as 2013 and 2012.

2014: $1,000K

2013: $995K

2012: $1,007K

The average sales price per SF is up from 2013 by about 4%.

2014: $481/SF

2013: $460/SF

2012: $451/SF

The average DOM (days on market) is up 18% over 2013.

2014: 123 days

2013: 101 days

2012: 131 days

The highest sale was 15 Rowayton Ave at $4,660K with a list price of $4995K. The next highest was 133 Rowayton Ave (Barclays’ Landing townhouse) at $4,200K listed at $3,950K (multiple offers). The lowest sale was 6 Deane Ct (a foreclosure) at $358K with a list price of $349K (multiple offers).

Inventory

In 2014 inventory overall was about average with about 70 listings at the height of the Spring market. This is about the same as 2012 but higher than 58 in 2013.. Lower inventory creates more of a sellers market as there is less competition and few choices for buyers. More inventory creates more options for buyers and and more competition for sellers.

There are 26 houses on the market right now. Will that number double or triple come Spring?

Thinking of listing your house? Call me so we can get it ready. Spring market is starting.

Overall Rowayton is doing very well in number of houses sold. The absorption rate is 100%.. More homes were sold than any year since 2006. Average days on market is up though which indicates that prices may have started out too high and had to be reduced hence longer market time. Average price is still up though, and median is about the same. Once again, pricing right, and getting the house show ready are key.

If you would like the detailed list of actual houses sold with addresses, price per SF, days on market etc, email me and I will send that to you.

And contact me if you would like me to evaluate your home.

Happy New Year!

Elaine Falkenberg

Realtor, William Raveis

Licensed in CT

Cell: 917-941-5362

VM/Fax: 203-653-5689

email: elaine.falkenberg@raveis.com

website: www.elainefalkenberg.com check this out!

22 Old Kings Highway South, Darien CT 06820

159 Rowayton Ave, Rowayton CT 06853