Last week we looked at Months of Supply, and bar graphs of sales and inventory this week it’s pie charts which I like when you are trying to compare one price range to another. If you start at the top and go clockwise around the pie and look at the first two section under $800K you can see that this is 5% of the inventory, but 14% of the sales. Not a lot of inventory and good demand.
Now start at the top and go counter-clockwise looking at the first three categories, those over $5M. This category represents 30% of the inventory in Greenwich, but only 11% of the sales. The impressive section is the over $10M sales which were 0% at this time last year and this year is 4% of all sales this year.
A remarkable part of these charts is the $3 – 5M section which represents 21% of both sales and inventory. This is a remarkable recovery in this price range. Overall the high end is doing much better than last year.
In the mid-market sales are moving along in a generally balanced market. Old Greenwich and Riverside remain hot. Glenville and Cos Cob are the alternatives to these markets that are getting pricey. The back country is also looking good. Well priced houses sell well. High priced houses will sit. If a listing under $5M is still around after 6 months it’s time for some serious changes.