Home Buying in Greenwich>Question Details

davidmcrosby, Home Buyer in Southport, CT

What are prospects for house price appreciation in Byram area?

Asked by davidmcrosby, Southport, CT Wed Dec 4, 2013

Help the community by answering this question:


History - year over year Aug 2013 - Aug 2014 - Single Family Trending Higher in price - Multi Family status quo

SIngle Family:
9 properties sold in 2014 versus 17 for 2013
13 are under contract in 2014 vs 16 in 2013
Sales Volume $7,862,500 in 2014 vs $12,610,008 in 2013
Average Sales price is $873,500 vs $741,765 in 2013 - 17% higher

Multi Family:
3 sold this year vs 5 last year
6 are under contract vs 3 last year
Volume in 2014 so far $$2,654,500 vs 1,605,000 in 2013
Average sales price is very similar year to year
0 votes Thank Flag Link Wed Aug 6, 2014
Hi David,

There is not magic formula, it definitely depends on the house. I can tell you that we track the average sales price in Greenwich by RTM district; our form of government is the representative town meeting (RTM).
Byram lies in district 4. One of our charts show the average sales price as a multiple of the total assessed value. At the end of the 3rd quarter in 2012 that number was 1.45. In other words, the average sales price was 1.45 times the assessed value of the home. For the 3rd quarter of 2013, that ratio had risen to 1.62. Hope this is helpful.
Jay Cooke
0 votes Thank Flag Link Wed Dec 4, 2013
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