Greenwich home sale statistics in October

The Greenwich Association of Realtors announces the statistics for home sales in The Town of Greenwich for the month of October 2015.

There were 42 single-family residential closings reported during this period according to figures provided by The Greenwich Multiple Listing Service, Inc., the multiple listing service used by Realtors in the Greenwich area.

The number of single-family residential closings was stable compared to October 2014 when there were also 42 closings in October. The median sale price for a single-family home increased by 23%  to $2,125,000 from $1,725,000 the median sales price in October 2014.

The average days on the market (DOM) for residential homes was 177 days; which was a moderate increase from 163 days in October 2014.

SingleFamilyClosings

MedianSalePriceSingleFamily

“October proved to be more positive than anticipated with an increase in median price and a strong amount of closings considering the little showing activity that had taken place at the end of August and through September. Seventeen percent of the homes that closed in October we sold at or above listed price. Although November is traditionally the slowest month for closings in Greenwich; there are currently 85 single-family homes under contract, which indicates a stronger market than in years past. The number of sales in the $3 million to $7.5 million range has increased by 18% compared to 2014 while the over $10million market lags behind with a 67% decrease, “stated Joann Erb, 2015 President of the Greenwich Association of REALTORS.

The Greenwich Association of REALTORS® is the professional board of choice for the real estate industry in Greenwich. Established in 1924, the association provides professional development and services for REALTORS® and represents the concerns and interests of private property and home ownership rights. The association has more than 800 members and is headquartered in Greenwich.

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