February Home Sales for Lower Fairfield County

For the month of February there  were a total of 176 sales in the towns of Darien, Fairfield, Greenwich, New Canaan, Norwalk, Stamford, Weston, Westport, Wilton.    18 of those were over $2.0 million which represents about 10% of the market.  Greenwich and Westport both had the highest sales for the month.

18 Oneida Court in Greenwich sold for $4,700,000
2 Pritchard Lane in Westport sold for $3,450,000.
For more details see my March Newsletter.  

18 Oneida Court, Greenwich
2 Pritchard Lane, Westport

We are well into the Spring market and inventory levels are still on the lower side.  Market times in many towns improved over last month as well as the selling prices per square foot.  Both good signs for the market in general although the selling activity remains unremarkable for the month of February.    Below are the February  numbers for our lower Fairfield County towns.  Values and market times vary depending on the market diversity.   Fairfield, Norwalk and Stamford will always have the highest number of sales as their markets are the most diverse but property values continue to remain highest in Greenwich, Darien and Westport, respectively.


To find out what your home is currently worth in today’s market, click here for a complimentary market analysis

Art News – Investing, Affordable, High Tech

The market for Contemporary Art has exploded.  Here are a few to watch if you are thinking about collecting or maybe just curious about which artists are  hot.  Keep in mind if you like an artist’s work but it does not fit your budget, there are many talented emerging artists to consider as an alternative.

Read more…….

 

The Community show at the Bruce S. Kershner Gallery in Fairfield is coming to a close.  Be sure to stop by before March 17 for some great art at very affordable prices.  The next show will be a landscape show starting on March 23 featuring several local landscape artists each with their own unique style of portraying local landscapes and beyond.  Did you know that gazing at a landscape work of art for only a minute can momentarily transport you to another time and place, relaxing your mind and reducing stress levels?

With so many styles of art, it can be challenging to find what is right for you.  Technology is continually creating new mediums for creating art.  If you want something new and exciting…check out some  fractal art .   This newer genre of high tech art  uses algorithms and fractal generating software to create powerfully colorful and detailed psychedelic-like images.  Louis Markoya, a protege’ of Salvadore Dali, is a Connecticut artist who brilliantly incorporates fractals in his work.

Original art is abundant.  Why settle for a copy of anything?  Call Cherry Street Art for a consultation to find art you love.                   203-246-5397

January Home Sales for Lower Fairfield County

January home sale statistics for lower Fairfield County covering the towns of Darien, Fairfield, Greenwich, New Canaan, Norwalk, Stamford, Weston, Westport and Wilton, are available in my February Newsletter,  just published.

38 Parsonage Road, Greenwich, Listed by Halstead Properties, Sold by Houlihan Lawrence

The highest sale for January was 38 Parsonage Road in Greenwich.  Originally asking $7,999,000, this property finally sold for $6,815,000 after 934 days on the market.    The home featured over 9700 square feet of living space, 18 rooms, 8 en-suite bedrooms, 10 full and 3 partial baths, 6 fireplaces sitting on almost 4 acres of land.  The average market time to sell a home in Greenwich was about 200 days in January.

Market times vary month to month and town to town, but for the most part, the areas with the most diversified markets will report the shortest average market times.   Sales in the high end of the market (over $2 million) accounted for about 10% of all sales in January with an average market time of over 200 days.

The lowest sale for the month of January was 14 Campfield Drive, Fairfield, selling for $192,00 and closing in 58 days.   This half duplex home featured about 780 square feet, 4 rooms, 2 bedrooms and 1 bath.

14 Campfield Drive, Fairfield, Listed by William Raveis, Sold by William Raveis

The Fairfield County real estate market is very competitive for sellers regardless of what town.  Buyers determine the selling prices, not sellers, and if you want your home to have the best chance to sell fast and for the highest price, it pays to invest in the presentation.   The National Association of Realtors explains what  every seller needs to know about the value of staging.  Check out their video below…..

Video: What Every Seller Needs to Know About the Value of Home Staging

Collecting, Investing, Trends

Art News from Cherry Street Art  just posted.

Outsider Artist, Aloise Corbaz

 

 

 

On the investment front:   What is “outsider art” and who is on the “hot list”.

Italian Artist Cesare Catania

 

 

Collecting – trust what you like.   Tips and guidelines to getting started.

 

Who’s buying what?  top trends for 2017.

Read full report…..

Visit CherryStreetArt.com for art consultation and many other visual art services.

Southern Fairfield County Single Family Home Sales – New Tax Legislation

Greenwich and Fairfield compete for the highest sale in the month of December

37 Calhoun Drive, Greenwich Listed by Houlihan Lawrence, Sold by Berkshire Hathaway

Selling for $5,925,000 after several years on the market, 37 Calhoun Drive features over 9,000 square feet of living space, 20 rooms, 8 bedrooms, 8 full and 2 half baths and sitting on 3.18 acres of land located in a private association close to Greenwich center.

210 Sasco Hill Road, Fairfield Listed by Riverside Realty, Sold by William Raveis Real Estate

Selling for $5,862,500 also after several years on the market, 210 Sasco Hill Road features over 11,000 square feet of living space, 16 rooms, 7 bedrooms, 9 and 1/2 baths and sitting on 2.38 acres overlooking Southport Harbor.  This home has the longest water frontage on the harbor with breathtaking views.

My January Newsletter with the latest single family home statistics can be viewed here.

New Tax Legislation

The National Association of Realtors has provided an extensive summary on the impact of the recent federal tax reform on homeowners and real estate professionals.   Below is a brief summary on the mortgage interest deduction and the state and local taxes.    To read the full report, click here……

Mortgage Interest Deduction
  • The final bill reduces the limit on deductible mortgage debt to $750,000 for new loans taken out after 12/14/17. Current loans of up to $1 million are grandfathered and are not subject to the new $750,000 cap. Neither limit is indexed for inflation.
  • Homeowners may refinance mortgage debts existing on 12/14/17 up to $1 million and still deduct the interest, so long as the new loan does not exceed the amount of the mortgage being refinanced.
  • The final bill repeals the deduction for interest paid on home equity debt through 12/31/25. Interest is still deductible on home equity loans (or second mortgages) if the proceeds are used to substantially improve the residence.
  • Interest remains deductible on second homes, but subject to the $1 million / $750,000 limits.
  • The House-passed bill would have capped the mortgage interest limit at $500,000 and eliminated the deduction for second homes.
Deduction for State and Local Taxes
  • The final bill allows an itemized deduction of up to $10,000 for the total of state and local property taxes and income or sales taxes. This $10,000 limit applies for both single and married filers and is not indexed for inflation.
  • The final bill also specifically precludes the deduction of 2018 state and local income taxes prepaid in 2017.
  • When House and Senate bills were first introduced, the deduction for state and local taxes would have been completely eliminated. The House and Senate passed bills would have allowed property taxes to be deducted up to $10,000. The final bill, while less beneficial than current law, represents a significant improvement over the original proposals.

To search for homes, research community information or calculate a mortgate, visit my website.

Fairfield County Home Sales – December 2017

25 Lower Cross Road, Greenwich, listed by David Ogilvy & Associates and William Raveis. Sold by David Ogilvy & Associates for $21,000,000

The highest single family sale for the month of November in Southern Fairfield County was 25 Lower Cross Road in Greenwich, selling for $21,000,000.    This home features over 8000 square feet of living space, 20 rooms, 7 bedrooms, 7 full baths, 3 half baths, 8 fireplaces, 4 additional cottages, a 22 stall horse stable and exquisite views and gardens.    The home was on the market for a total of 276 days.

25 Lower Cross Road, Greenwich

Market time varies considerably depending on location and price.  In the city of Norwalk where the median selling price for November was $423,000, the average market time was 70 days.  Stamford and Fairfield followed this month with market times of less than 100 days.  By contrast, in the town of Wilton, which has a median selling price of $650,000, the average time to sell a home was 255 days for the month of November.   New Canaan follows with the second longest market time of 210 days where the median selling price is $1,727,000.

Home sales in the over $2,000,000 price range were 35 for the month representing about 13% of the total sale activity.

Below are the November market statistics as reported by the SmartMLS for the area.   Home values remain highest in the towns of Greenwich, Darien and New Canaan respectively.    Stamford, Fairfield and Norwalk continue to lead in the number of sales where the markets are more diverse.

 

    Town November Sales  Median Sale Price         Selling Price per Square Foot Average Days on  Market
Darien      19 1,670,000        436.00     161
Fairfield      54    612,500        242.00       99
Greenwich      22 1,422,485       473.00     141
New Canaan     14 1,727,000       370.00     210
Norwalk     42    423,000       227.00       70
Stamford     57    505,000       209.00      76
Weston    11    535,000       170.00    154
Westport    37    972,500       314.00    107
Wilton    19    650,000       224.00    255

For additional Lower Fairfield County real estate information including searching for properties, calculating a mortgage, and researching community information, please visit:

LizTardifRealEstate.com

 

What to Know When Buying Art

For anyone who would like to know more about buying art and understanding the art market, the Fairfield Public Library and the Bruce Kershner Gallery will be hosting a presentation, “The Art of Buying Art” on November 28 at 7:00 pm.    

Learn how to navigate the endless world of galleries, art shows and online resources to find art that suits your style and budget and sharpen your own sensibilities about assessing art.   How to see the differences between decorative art, collectible art, investment art, and prints and what you need to know about each will be covered.

What makes this good art? If you like it, how do you know if you should buy it?

 

Contemporary art comes in many forms and styles. What makes this art fun and appealing? What emotions does it inspire for the viewer?

 

All are welcome.  This talk is free to the public, but seating is limited so registration is suggested.  Click here to register.

For questions and additional information, call  Cherry Street Art at 203-246-5397 or the Fairfield Public Library at 203-256-3160.

Presented by:  Cherry Street Art and Leonard Fox, Ltd.

Fairfield County Real Estate – November 2017

116 Oneida Drive, Greenwich Listed by David Ogilvy & Associates, Sold by Houlihan Lawrence

October single family home sales for lower Fairfield County:
Leading the pack for sales in the month of October is the City of Norwalk  with 60 sales and a median selling price of $   483,000
Stamford            51                                                                                    537,500
Fairfield              50                                                                                    549,000
Westport           21                                                                                 1,375,000
New Canaan    20                                                                                 1,293,000
Greenwich        19                                                                                 1,570,000
Darien                 15                                                                                 1,045,000
Weston              12                                                                                      721,000
Wilton                12                                                                                      805,000

Topping the list for the highest median sale price is the town of Greenwich, which also had the highest sale of the month.  116 Oneida Drive sold for $20,377,000 featuring 21 rooms, 9 bedrooms, 8 full baths, 3 half baths and sitting on almost 4 waterfront acres.

The market continues to be most active in the under $1,000,000 price point.  For the month of October there were a total of 21 sales over $2,000,000, representing approximately 8% of the market activity.

For more information on Fairfield County real estate, when to sell, how to buy and what you need to know about the local communities, visit LizTardifRealEstate.com 

Can you tell what makes this room different from anyone else’s?  It’s the art of course.  If you want to create an interior look that is unique to you, add original art.   CherryStreetArt.com  

November Art News

Connecticut is rich in the arts.   Just driving through the cities and towns of Connecticut and visiting the public buildings can be a rewarding art experience.   Visit the magnificent murals in Connecticut website to see where to find them.   Here are a couple:

Whaling Wall, 124 Captain’s Walk, New London
613-617 Main Street, Middletown

One of the most rewarding lifestyle benefits of living in Fairfield County Connecticut is the proximity to one of the largest art meccas of the world, New York City.   Christie’s auction house will be having their Post-War and Contemporary Art Evening Sale on November 15 featuring art by Jean-Michel Basquiat, Leonardo Da Vinci, Mark Rothko, Andy Warhol and many more.  For investment art buyers in the $2,000,000 to $50,000,000 price point.

Jean-Michel Basquiat – available at Christie’s November 15, New York City for $25,000,000 to $35,000,000
Mark Rothko, available at Christie’s November 15, New York City for $25,000,000 to $35,000,000

For the new to somewhat seasoned collector, we have lots of original art by many local (and living) artists to adorn your homes and offices.    Be original and enrich your surroundings with original art.

Jan Dilenschneider

To see what is happening right now in our very dynamic local art world  visit FCBuzz.org, the Bruce S. Kershner Gallery in Fairfield, The Flinn Gallery in Greenwich, The Silvermine Arts Center in New Canaan, and the Westport Arts Center in Westport …just to name a few.

 

Need help navigating the endless world of galleries, art shows and internet resources to find art that suits your style and your budget?  Visit CherryStreetArt.com, email liz@cherryStreetArt.com or call 203-246-5397 to set up a personal consultation.  Get the advice and guidance you need to make good art decisions.

Our next Art of Buying Art Talk  presented by Liz Tardif will be held at the Fairfield Public Library, November 28,  at 7:00pm.  Be unique…..buy originals.    Register here.

 

 

 

Fairfield County Real Estate – September 2017

74 Upper Cross Road Greenwich Listed by Douglas Elliman, Sold by Sotheby’s International

Home sales in September for lower Fairfield County remain stable for the last quarter of 2017.   Reported single family home sales for the month of September according to the Connecticut MLS were as follows:

Fairfield             72 sales with an average selling price of $ 688,917
Stamford           62                                                                                   $ 537,875
Norwalk             49                                                                                   $ 620,400
Westport           31                                                                                   $1, 581,984
New Canaan    28                                                                                   $1,822,545
Darien                  22                                                                                  $1,615,864
Greenwich        20                                                                                   $2,696,144
Wilton                 18                                                                                   $ 821,417
Weston                 8                                                                                    $ 799,375

There were a total of 29 sales over $2,000,000.  The highest sale was in Greenwich for $7,500,000 – 74 Upper Cross Road, built in 1995 on over 16 acres featuring 20 Rooms, 7 Bedrooms, 7 full baths, 3 half baths, 5 car garage.

The real estate market for each town varies significantly based on population, property values and demographics.   Most of the  activity continues to fall into the under $800,000 price point as it has been for most of the year.

As always, the most important factors when selling a home are price, presentation and promotion.  All must be optimal to sell fast and for the highest price.   When you are looking to buy a property, knowledge of the area, schools, amenities, and values are all important to make a good investment and lifestyle decision.

For more detailed information on this report or additional market information visit LizTardifRealEstate.com  or call 203-246-9065.