Greenwich real estate market statistics

Condominiums (Includes Town Homes and Co-ops)

The Greenwich real estate market statistics are in for September. The current inventory of condominiums decreased 14% between January and September as compared to this time last year. Since June of this year, inventory for this sector has been steadily decreasing from 8% to 14%.

The price point having the largest decrease in inventory was the $700,000 and $799,999 price range (decreased 50%) in September as compared to September of last year. Overall September inventory of condominiums was down 14% from September of last year.

Last month, condominiums priced under $500,000 and over $1,400,000 had the largest amount of units available for sale constituting 22% and 24% respectively of available inventory.

Year-to-date sales for all condominiums increased 11% as compared to this time last year. Sales volume increased 30%, days on market decreased 7%.

The average sales price of a condominium increased year-to-date 18% ($1,015,677) from a year ago while the median sales price increased 6% ($725,000).

Condominiums priced between $800,000 and $999,999 had an increase of 40% of units under contract for January to September 2015 as compared to this time last year increasingly followed by: $600,000 and $699,999 (increased 47%), $1,400,000-$1,999,999 increased 70%, and $2,000,000- $2,999,999 increased 140%. Overall condominium units under contract increased 10% year-to-date since last year.

Thus far this year, February had the largest amount of condominium sales as compared to last year. Overall sales have increased 111% to date for condominiums when compared to 2014.

Single-Family

The current inventory for single-family homes is up 7% from year-to-date 2014. The number of homes sold increased 8% while the sales volume dipped 6% since last year. The number of days on market for a property to sell ticked up 4%. The average sales price from the beginning of this year through September dipped 9% ($2,500,175) while the median price went down by slightly 0.6% ($1,871,000) as compared to this time last year.

As of September, there has been the most increase in inventory in the following price ranges: $3,000,000 to $3,999,999 increased 22%, $8,000,000 to $9,999,999 increased 40% and the $15,000,000 and over market segment increased 30%.

Overall single-family units under contract ticked up 3% thus far this year compared to 2014. Interestingly, the largest increases were in the higher-priced properties: the $5,000.000 to $5,999,999 price range had an increase in going to contract of 56%, the $8,000,000 to $8,999,999 increased 67%, and the $7,000,000 – $7,999,999 increased 75%. Single-family homes reported the most sales this year in February and in September. The market segments having the most increases in sales this year are homes priced between $5,000,000 and $5,999,999 (increased 77%), $8,000,000 and $8,999,999 (increased 100%), $7,000,000 and $7,999,999 (increased 33%) and $1,000,000 and $1,999,999 (increased 28%). (Source of Data: 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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