2016 – Greenwich Ct Real Estate Report

cropped-useonlylogotop300-e1408633932463.jpghowsthemarket2016 was not the year for real estate professionals and sellers that it is now behind us.  A review of all Greenwich Markets which include – Greenwich in the 06830 and 06831 zip code, Old Greenwich, Riverside and Cos Cob was a disappointment of the total market down -7.27%  in comparison to 2015.  It’s unfortunate the media focuses on the bigger numbers of the market reports, especially single family homes with a $5MM+ price, rather than a combined total.

One interesting area to point out was the market of residential sales increased by 8.25% in Cos Cob in the price point of $1.5-$2MM by 43.75%!  These numbers showed patient sellers whereas the days on market went from 103 in 2015 to 153 to 2016.

Fortune Magazine reports however that Greenwich is just one market showing a decline in sales and luxury real estate sales nationwide has been effected.  The negative reflects of a presidential election year that cannot be understated (Forbes.com 6/7/2016).   Greenwich is always an area that is pointed out most, as it is the closest to New York City and has always been known as one of the richest towns.   Reported foreign buyers are down as the treasury department, and the government is carefully reviewing foreign real estate transactions as suspicious, therefore suspicious or not, foreign buyers are backing out.

Goodbye, 2016 – Hello, 2017!

January 2017 already has shown some promising numbers.   There was 71 in residential homes sold total in Greenwich, compared to 48 residential sold in 2016 up 47.9%.  Pending listings for residential properties are also up  – 72 pending residential homes from 46 pending residential sales a 56.5% change.

Bye-Bye-2016-Photos-300x230.jpg

 

Click on the link below, the year 2016 in real estate, now behind us.

2016 Greenwich YTD Real Estate Market Report

For Immediate Release – David Ogilvy & Associates joins Christie’s International Real Estate as Marquee Sponsor of Art Southampton Fair

Art SouthHampton

For Immediate Release

FOR IMMEDIATE RELEASE

Linda Graham

Marketing Manager

David Ogilvy & Associates

David OGILVY & Associates Joins CHRISTIE’S INTERNATIONAL REAL ESTATE AS Marquee SPONSOR of art southampton fair

David Ogilvy & Associates joins fellow Christie’s International Real Estate affiliates as ‘Official Luxury Real Estate Partner’ of acclaimed contemporary art fair in the Hamptons

July 6, 2015 David Ogilvy & Associates, along with Christie’s International Real Estate, the world’s leading luxury real estate network, is proud to join eight fellow affiliates in serving as the “Official Luxury Real Estate Partner” of Art Southampton. The premier international modern and contemporary art fair in Bridgehampton, NY, Art Southampton features a carefully selected group of 80 international art galleries.

Now in its fourth season, Art Southampton will take place July 9 through 13 at a new location—Nova’s Ark Project, 60 Millstone Road. The Fair offers collectors, curators, designers, and art advisors the opportunity to acquire the finest blue-chip modern and contemporary works of art from the emerging, mid-career cutting edge, Post War, and Pop eras, with a focus on design and functional art. The amenity-rich event, with an unrivaled ambiance and design, presents convenient access for residents of Long Island, New York City, and the Tri-State, as well as global travelers who frequent the Hamptons in the summer months.

Christie’s International Real Estate has served as a marquee sponsor of the internationally acclaimed Miami-based fairs Art Miami and Art Wynwood for three consecutive years.

Through its sponsorship of Art Southampton, Christie’s International Real Estate, along with David Ogilvy & Associates and other participating members of its international affiliate network will continue to enhance the natural synergy between contemporary art and luxury real estate. The connection emphasizes the unique, lifestyle-centric qualities that link an investment in a multi-million-dollar trophy property to the purchase of a world-class work of art.

“We are very pleased to participate as a top sponsor of the summer’s most important art event in the Hamptons,” said Dan Conn, Chief Executive Officer of Christie’s International Real Estate. “As noted in Luxury Defined, Christie’s International Real Estate’s annual report on the high-end residential property market, with values now exceeding $100 million, ‘trophy home’ has become the new insider term in the world of luxury residential real estate. And the type of buyer who would collect a $179.4 million Picasso like the one sold at the Christie’s recently concluded Post-War and Contemporary Art auction, is the same buyer who is interested in these one-of-a-kind homes.”

Throughout the duration of the Art Southampton fair, Christie’s International Real Estate will host an interactive booth within the Art Southampton pavilion, exhibiting luxury residential real estate offerings from around the globe. Affiliate representatives and their VIP guests will enjoy kicking off the fair at an exclusive event at a Hamptons estate on July 8, and attending the opening VIP preview of the fair on July 9.

David Ogilvy & Associates is honored to be an integral part of this cutting-edge event – one that defines the contemporary art scene and brings with it a mesh of collectors, curators and art enthusiasts from around the world,” said David Ogilvy, President, David Ogilvy & Associates. “We look forward to taking part in this unique opportunity.”

The 2014 VIP Preview of Art Southampton attracted more than 4,200 collectors, art advisors, curators, and designers, while the full five-day event hosted more than 21,000 attendees. The 2015 edition will again provide an intimate look at some of the most important works at the forefront of the international contemporary art movement.

“We are extremely thankful to have the support of David Ogilvy & Associates and Christie’s International Real Estate for Art Southampton,” said Nick Korniloff, Director and Partner of Art Miami, LLC. “We look forward to another successful fair, this year putting a spotlight on the best the contemporary art and luxury real estate markets have to offer from around the globe.”

About Christie’s International Real Estate

Christie’s International Real Estate is an invitation-only affiliate network composed of the world’s most proven and qualified real estate specialists in the luxury residential sector. The company has offices in London, New York, Hong Kong, Beverly Hills, and Palm Beach, and 140 global affiliates with 32,000 real estate professionals in 46 countries.  For additional information about Christie’s International Real Estate, please visit www.christiesrealestate.com

About David Ogilvy & Associates

David Ogilvy & Associates, headed by David Ogilvy, long the recognized leader in high end properties in Greenwich, Connecticut, is an established and major agency in the Greenwich market.  Noted as the most recognized firm for advertising and marketing, David Ogilvy & Associates is the proud exclusive affiliate of Christie’s International Real Estate in Greenwich.  David Ogilvy & Associates has just represented both the buyer and the seller of the most expensive residential property ever sold by a broker in the United States of America, Copper Beech Farm, a fifty acre waterfront estate at $120,000,000. The firm had previously listed and sold what is now one of the most expansive residential sales made here at $45 million, a magnificent 80 acre Conyers Farm estate.   For more information about David Ogilvy & Associates, please visit www.davidogilvy.com