GREENWICH REAL ESTATE MARKET REPORT FOR OCTOBER 2014

We had 42 sales of single family homes in October 2014 this is up from last year and up from September. Seeing sales increase in October is unusual and the market does seem a little busier. Inventory is also tightening up as we have barely 500 houses on the market. We have 43 houses under $1M on the GMLS which represents a 3 – 4 months of supply under a million dollars.

At the other end of the market we have sold 14 houses sold over $10M, but we have 54 houses on the market or a 3 year supply. We seemed to have had pent up supply over $5 million and as sales in this market have come back, we have seen owners move to put their properties on the market. Over $5M we have 163 listings.

OCTOBER MARKET REPORT Inventory As of 11/7/14 Contracts Last Mo. Solds Tot. Solds+ Contracts YTD Solds  YTD+ Contracts Mos Supply Mos w/ Contracts Last Mo. Annlzd
< $600K 8 7 2 9 20 27 4.0 3.4 4.0
$600-$800K 18 3 9 12 47 50 3.8 4.1 2.0
$800K-$1M 17 11 1 12 45 56 3.8 3.5 17.0
$1-$1.5M 51 17 6 23 87 104 5.9 5.6 8.5
$1.5-$2M 51 12 5 17 74 86 6.9 6.8 10.2
$2-$3M 89 20 9 29 99 119 9.0 8.6 9.9
$3-$4M 70 9 3 12 59 68 11.9 11.8 23.3
$4-$5M 51 6 1 7 28 34 18.2 17.3 51.0
$5-7.5M 79 10 4 14 24 34 32.9 26.7 19.8
$7.5-$10M 30 3 1 4 7 10 42.9 34.5 30.0
> $10M 54 0 1 1 14 14 38.6 44.4 54.0
TOTAL 518 98 42 140 504 602 10.3 9.9 12.3

The good thing is that we 98 contracts waiting to close and sales all the way up to $4 million are moving along.

 

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