By Mark Pruner and Pamela Pagnani
Since last week, sixteen sales occurred town-wide, of which eleven were single family homes and five were condominiums. Two of those transactions sold over $10 million; both were located South of the Parkway, also referred to as mid-country, at 3 Jada Lane and 547 Lake Avenue. This brings the total to five for number of homes that have traded above $10 million year to date, which is considerably less than last year at this time, when twelve had traded, but it is a step in the right direction.
The sales for the month of August on the whole are 43% less than last year, with 33 closed transactions in 2015 as opposed to 58 in 2014, but if we look at the number of closed transactions year to date, whereby there were 404 in 2014 as opposed to 417, we are only 3.1% less than last year at this time.
This week 21 new listings came to the market. As of today, there are 541 single family homes on the market, whereas last year at this time, there were 548. Not much of a difference. I particularly liked the new listing located at 93 Doubling Road, which is presently listed at $14 million.
As of today, the market average price for single family home is $2,494,087, and the average days on market is 175 as opposed to last year at this time when it was 161 days. Perhaps we’ll see more activity in light of the recent stock market fluctuations, as real estate might be considered a better investment. Time will tell….
The Greenwich Land Trust was founded in 1976. Since then they have preserved more than 745 acres including woodlands, meadows, orchards, and salt marshes. Conservation lands in the community help protect the air and water, offer scenic vistas, and provide wildlife habitat. With a mission of preserving land permanently and protecting its ecological integrity for the benefit of this and future generations, the Land Trust seeks donations of land parcels that offer conservation benefits for the community. Donors of conservation land to not-for-profit organizations such as the Greenwich Land Trust receive favorable federal tax treatment for their gifts. In 2012, the Greenwich Land Trust successfully completed the requirements to receive national accreditation from the Land Trust Accreditation Commission. This credential is an indicator of the high standards and practices followed by land trusts who receive this designation.
Earlier this year, the Greenwich Land Trust opened its conservation center at The Louise Mueller Preserve at 370 Round Hill Road. The center encompasses four acres and historic farmhouse and barns that are now used for offices and operations. The center will provide new opportunities for the Land Trust’s education and outreach activities for families and individuals.
Acquiring and protecting conservation land is the focus of the Greenwich Land Trust. Most recently, the Minguez Trust donated four acres of woodlands on Sterling Road in Greenwich to the Greenwich Land Trust. “We are delighted to receive this beautiful land that provides extensive wildlife habitat while protecting a section of the Byram River watershed,” remarked Janice Trebbi Richards, Greenwich Land Trust Board President.
The Land Trust’s new Minguez Preserve is heavily wooded with beautiful specimens of sugar maples, beeches and black oaks. The preserve contains native plants in the understory including sassafras, ferns, blue cohosh, mulberry, trillium, and jack-in-the pulpit. The sloping hillside is bordered by an old stone wall linking the property to Greenwich’s agrarian past. The southern end of the property includes parts of two ponds, which provide an aquatic habitat for plant, microorganism, and fish species along with a major water source for other wildlife.
The property’s ecological values include the native black oaks, which produce valuable food for wildlife and the craggy rock outcroppings provide shelter. Conserving this undeveloped parcel protects the watershed area that drains into the two ponds, mitigating issues associated with nitrification such as algae blooms and fish die off caused by development near waterbodies.
The Greenwich Land Trust’s professional staff is currently preparing a management plan for the Preserve to address invasive plant removal, native plant preservation and public recreational opportunities while protecting the conservation values of the parcel. This practice of developing a specific management plan to document the important features to be protected now and in the future is a requirement for accredited land trusts nationwide. Management plans serve as the basis for ongoing maintenance, planting, and invasive plant removal by the Land Trust’s staff and trained volunteers.
The Minguez Preserve is located near 30 additional acres of open space permanently protected by the Greenwich Land Trust. By acquiring nearby or contiguous properties, the Land Trust is able to build greenways for wildlife and expand the important conservation values of individual parcels.
Greenwich is very lucky indeed to have such a strong and vibrant Land Trust.
If you are interested in getting more information pertaining to the Greenwich Land Trust or about donating land, please call their Executive Director Ginny Gwynn at 203-629-2151.
