October Greenwich R.E. Sales Once Again Exceed 2012 Unlike September

GREENWICH, CT OCTOBER REAL ESTATE MARKET REPORT & STATISTICS

September 2013 was a strange month in that sales were down significantly from 2012 after a string of five months where 2013 sales outpaced 2012’s monthly sales. In October we got back on track with 45 sales and those are only the preliminary numbers from the Greenwich MLS. We’ll have some additional FSBOs, REOs and private transaction reported later by the Greenwich Town Clerk.

Single Family Home Sales in Greenwich 2012 versus 2013

  OCTOBER 2013 GREENWICH R.E. SALES, CONTRACTS & MONTHS OF SUPPLY

Oct. 2013

Inventory

Contracts

Mo. Solds

Tot. Solds+Ks

YTD Solds

 YTD+Ks

Mos Supply

Mos w/ Ks

Instaneous Mos

< $600K

10

5

3

8

34

39

2.9

2.9

3.3

$600-$800K

21

8

4

12

44

52

4.8

4.6

5.3

$800K-$1M

16

11

3

14

55

66

2.9

2.8

5.3

$1-$1.5M

40

18

8

26

107

125

3.7

3.7

5.0

$1.5-$2M

46

18

4

22

91

109

5.1

4.9

11.5

$2-$3M

90

22

10

32

112

134

8.0

7.7

9.0

$3-$4M

86

12

3

15

39

51

22.1

19.4

28.7

$4-$5M

44

3

3

6

20

23

22.0

22.0

14.7

$5-7.5M

68

6

6

12

29

35

23.4

22.3

11.3

$7.5-$10M

30

1

0

1

5

6

60.0

57.5

-

> $10M

47

6

1

7

5

11

94.0

49.1

47.0

TOTAL

498

110

45

155

541

651

9.2

8.8

11.1

  • Inventory has shrunk below 500 house listings
  • Contracts are up over 100 pending sales so the rest of the year should look good
  • 45 sales were reported by GMLS in October and we’ll have a additional private sales reported later
  • The market under $1.5MM continues tight
  • The market from $4 – 7.5MM perked up in October
  • The over $10MM market continues to get better

GREENWICH INVENTORY, SALES YTD, OCTOBER SALES & CONTRACTS

GREENWICH INVENTORY, SALES YTD, OCTOBER SALES & CONTRACTS

  • Sales under $1MM are supply constrained and combat buying continues
  • The bulk of Greenwich home sales are from $1 – 3MM
  • The bulk of inventory is from $2 – 7.5MM
  • Over $3 million is a buyer’s market, but contracts show $3 – 4MM improving
  • The over $10 million market is actually doing better than the $7.5 – 10MM market.

GREENWICH R.E. MONTHS OF SUPPLY BY YTD SALES, SALES & CONTRACTS, AND CURRENT MONTH ANNUALIZED

 

Oct2013.MosSupply.110213

  • The market is tight all the way up to $2MM
  • The sales pace in October was a little slower at the low end
  • October sales pace was much better from $4 – 7.5MM and over $10MM
  • Contract activity is doing very well above $10MM and from $5 – 7.5MM compared to earlier in the year

One thought on “October Greenwich R.E. Sales Once Again Exceed 2012 Unlike September

  1. Pingback: New York City Mayor’s De Blasio Effect is Driving High End Sales in Greenwich | greenwichstreets.com

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