Week 36: Who Moved the Realtor’s Cheese? John Engel’s Real Estate Column for the New Canaan Sentinel
People ask, “How long does it take to write the real estate column?” All week. I have dozens of columns rattling around up there, but I sometimes struggle with what it is my audience wants. The easiest column to write is just a list of statistics. The reaction is usually, “Wow, that’s a lot of […]
Week 35: Fairfield vs. Westchester County: Head to Head. John Engel’s Real Estate Column for the New Canaan Sentinel
HEAD-TO HEAD COMPARISON Here’s a head-to-head comparison of the current real estate market conditions for Q1-2024 between Westchester County, NY, and Fairfield County, CT. Fairfield: Average Sales Price: $915,665, a slight decrease from the previous yearAverage Price Per Sq Ft: $422Median Sales Price: $545,000, a decrease of 6.8% from the previous year Number of Sales […]
Week 34: New Canaan and Greenwich vs. Fairfield County. John Engel’s Real Estate Column for the New Canaan Sentinel
Median Sales Price (Single Family) New Canaan: The median sales price stands at $2,161,000, showing a modest quarterly growth (+1.9%) and a year-over-year increase (+7.7%). Greenwich: Surpasses New Canaan with a median sales price of $3,000,000, indicating a more pronounced quarterly surge (+60.3%) and a significant year-over-year rise (+36.6%). Compared to Fairfield County, both towns […]
Week 33: A Tale of Four Towns. John Engel’s Real Estate Column for the New Canaan Sentinel
CLOSED SALESNew Canaan had 32, up from 31 while Darien had 22 down from 32 a year ago. Wilton had 42 sales, up 55% from a year ago while Westport had 45, down -15% from 53 a year ago. New Canaan sales were flat despite lower inventory. Count that a victory. Is Wilton the only […]
Week 32: Mill Rates and Property Tax Changes May Shake Out New Inventory. John Engel’s Real Estate Column for the New Canaan Sentinel
Manhattan Market Report Manhattan first quarter sales fell, down 11.3% annually, now below two thousand (1,988), the lowest level in 3 years. Prices slid year-over-year, now 17.4% below pre-pandemic levels. Inventory went lower due to the “lock-in-effect”. Mortgage-purchases dropped 26.7% annually. The percentage of cash sales has reached a record high, up each of the […]
Week 31: The Lock-In Effect. John Engel’s Real Estate Column for the New Canaan Sentinel
Many of us are wondering how long it will take until the pendulum swings. How long before the seller’s market becomes a buyer’s market? There are many factors at play, but the favorite term being bandied about on talk shows and cocktail parties is “Lock-in effect”. This is the measure of how constrained people are […]
Week 30: The Wealth Report – 2024. John Engel’s Real Estate Column for the New Canaan Sentinel
“Over 20% of the world’s wealthiest individuals plan to invest in residential real estate in 2024.”
Week 29: A Case Study: Wide Range of Opinions on a Home’s Worth. John Engel’s Real Estate Column for the New Canaan Sentinel
This is the most important question Realtors answer, and busy agents are answering it every day. It is particularly relevant this month while 300 residents are arguing their values in front of the New Canaan Assessment Board of Appeals. This is a case-study on how I do it: The subject property is a 4,080 square […]
Elevating Your Home Search: The Importance of Exclusive Property Tours in Luxury Real Estate
In the world of luxury real estate, finding your dream home is not just about transactions; it’s about experiences. Exclusive property tours set the stage for these memorable experiences by offering a tailored and intimate viewing that aligns perfectly with the high expectations of discerning buyers. At The Engel Team, we understand that the journey to discovering your ideal luxury home requires a bespoke approach, focusing on privacy, personalized service, and meticulous attention to detail.
Week 28: February Market Report for 15 Towns Across Fairfield County. John Engel’s Real Estate Column for the New Canaan Sentinel
We divided 15 markets into 4 groups 1. High-End 2. Cities 3. North of the Parkway and 4. Coastal Neighborhoods to see what comparative conclusions we might draw from their performance these last 3 years. Greenwich – UNDERPERFORMING. Median price is $1.75m, more or less flat since mid-2021. When compared to the peer group Greenwich […]
