Most of the statistics that you see for Greenwich, CT are for sales on the Greenwich MLS, but about 1 out of 8 sales are done outside the GMLS. This doesn’t always mean that a real estate agent is not involved, but does mean that it was never listed for sale publicly on the GMLS.
At the lower end of the market you see bank owned properties that only appear on the Greater Fairfield County MLS (the CMLS). Banks often retain one firm to handle all sales of bank owned property in Fairfield County. Since belonging to the GMLS is expensive and the GMLS charges for each listing whereas listing on the CMLS are free, lots of bank owned properties end up there. Of the 89 properties sold under $600K, 14 didn’t appear on the GMLS.
At the other end of the price range and by far the stand out for private sales is the $5 – 10M price range where 27% of the sales are private or more than double the average for the rest of the market. Of these sales two were in Millbrook, three were on Club Road and another was on Field Point Circle. People here often let owners of these high end properties know that in the event they should ever want to sell they’d be happy to buy.
This price range has had our largest months of supply, but when you add in the 10 private sales this segment definitely looks better. So when you see sales figures you might want to ask whether they include all sales.
If you need information about a private sale in Greenwich feel free to give me a call at 203-969-7900. Mark