CLARK: October market statistics

The Greenwich real estate market statistics are in for October. The number of condominiums (includes town homes and co-ops) for sale have decreased 10% when comparing January through October of 2015 to that period of last year.  Sales of condominiums have increased 18% when comparing these time periods; and dollar volume has increased 36%.  The days on market for this market segment dipped 9%.  The average sales price increased 15% ($1,006,343) while the median sales price increased 6% ($725,000) for condominiums.

Condominium inventory increased the most in October for those priced between $600,000 and $699,999 (71%); and decreased the most for those priced over $1,400,000 (-35%).  Overall condominium inventory decreased 10%.

Condominiums under contract through October, of this year priced between $2 million and $2,999,999 increased 100%, those priced between $600,000 and $699,000 increased 63% from last year.  Overall condominiums under contract increased 14% when compared to this time period from last year.

From the beginning of this year through October condominiums which sold between $2 million and $2,999,999 are up 140% and those priced between $1,400,000 and $1,999,999 are up 100% since last year.  Overall condominium sales are up 18%.   First-time buyers and down-sizers are continue to fuel the condominium market.

The current inventory of single-family sales has gone up 12% when comparing January through October of this year to the same period last year while unit sales are up 3%.  The average sales price is down 9% ($2,502,377) from a year ago for the same time period while the median sale price remains unchanged at $1,875,000.

The inventory of single-family homes has increased 12% year-over-year (January through October).  Inventory priced between $2million and $3,999,999 has increased 27% for this time period.  However, new construction, in sought-after areas, in this price range remains low.  The highest amount of inventory is in the higher price points ($8 million – $9,999,999 – up 59%; $5 million – $5,999,999 – up 40%).   

Single-family units under contract is down 1% year-over-year (January through October).  From the beginning of this year through October, the homes under contract in the following price points lead others under contract:  $1 million to $1,999,999 – 36% of current contracts, under $1 million – 18% of contracts and $2 million to $2,999,999 – 18%.

The most marked price segment of single-family homes which sold year-to-date was the $1 million to $1,999,999 which increased to 197 units from 157 units when compared to last year.

Reports by Greenwich Realtors are that public open houses are still being well attended.  There are serious buyers as well as home owners seeking to see what the competition is before listing.

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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