Checking semi-annual stats

The inventory of single-family homes in all towns of Greenwich was up slightly, by 3%, for the first half of 2014 as compared to the first half of 2013.

Sales dipped 8% when comparing the first six months of this year to the same time last year. Sales (which is the number of units) dipped 8% while sales volume increased 35% from last year. The days on market of a single-family home decreased 3%. The average sale price increased 47% while the median sale price increased 23%.

When comparing the number of available single-family homes for sale (looking at June 2013 vs. June 2014) in Greenwich, inventory decreased 22% for homes priced under $1 million, increased 12% for homes priced between $1 million and $2 million, increased 14% for homes priced between $2 million and $3 million, decreased 13% for homes priced between $3 million and $4 million, was unchanged between $4 million and $5 million, and decreased 14% for homes priced between $5 million and $6 million. Overall there was a 3% increase in the number of homes for sale.

When comparing the number of single-family homes under contract (looking at the first half of 2013 vs. first half of 2014), pending sales of homes under $1 million decreased 18%, decreased 23% for homes between $1 million and $2 million, decreased 27% for homes between $2 million and $3 million, increased 22% for homes between $3 million and $4 million, increased 7% for homes between $4 million and $5 million, and increased 117% between $5 million and $6 million.

The leading price segment of homes sold when comparing the first half of last year with the first half of this year were homes listed between $3 million and $4 million, which represented 14% of the market, but increased 86% when compared to the first half of last year. The next two more expensive home price segments (which is $4 million to $6 million) each increased 50% but were constituted only 7% and 3% respectively. Homes listed between $1 million and $2 million comprised the largest share of the market, or 29%, followed by homes between $2 million and $3 million (21%).

Relative to condominiums in Greenwich, inventory decreased 6% and unit sales decreased 11% when comparing the first half of this year to that of last year. The average sales price increased slightly by 0.8% and the median sale price increased by 9.5%.

The price segment with the most improvement in inventory for sale is the $800,000 to $1 million range, which increased 33%. That was followed by the over $1.4 million segment, which increased 31%. Condominiums that were listed for more than $3 million that were under contract doubled in the first half of this year when compared to last year. The more than $3 million price segment increased 50% in terms of sales as well.

All of these statistics are courtesy of the Greenwich MLS.

Mary Ann Clark is a Realtor with Coldwell Banker at 177 West Putnam Avenue in Greenwich. Questions or comments may be emailed to [email protected]

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