December 2014 Greenwich Real Estate Sales on Pace for a Good Month and Good Quarter

The last quarter of 2014 is actually starting to look good. The final November numbers are in from the gold standard for sales and we had 46 sales last month. Five of these sales are private sales which added to the 41 GMLS sales puts us at the same level as the very good year of 2013.  The 46 sales are also 10 units above the 8 year average of 36 sales.

Sales 2012 - 2014 NovFnl.121414

So far in December what have had only 26 sales versus the 8 year average of 46 sales, but December is always a screwy month for sales. December being further into the winter and the heart of the holiday season you’d expect to have lower sales, but it’s also when tax motivated sales get done and many of these get done between Christmas and New Years so there is yet hope for this December to continue the streak of good sales.

Price Range No. of Dec. Sales
<$1M 6
$1 – 2M 11
$2 – 5M 7
>$5M 2
Total 26

We have fallen to 77 pending contracts down from 85 just a week ago. Inventory is down to 445 active single family homes and will continue to fall. Of those 445 listings only 33 have come on in the last 30 days and only 52 in the last 45 days.

Through November we have 635 sales, If we get another 26 sales in the second half of December, we will end the year with 687 sales; better than 2012’s 660 sales (even with its record 86 sales in Dec. 2012), but not as high as 2013 sales of 724 houses sold. So the year should be down about 5% over last year, but total sales volume will be the highest post-recession year as over $3 million has done so well in Greenwich.

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