Greenwich Sales up & Inventory Down in Every Neighborhood - 09/11/2021

Overall

1. Inventory is way down from 585 listings at the beginning of September 2019 to 267 listings in 2021 or a drop of 54%
2. Solds are up over 100% from 393 in 2019 to 752 in 2021
3. As a result, months of supply have fallen off a cliff from 13 months of supply in 2019 to less than 3 months of supply in 2021
4. Total Sales volume is up by $1.37 billion in a town of 63,000 people.
5. Days on market have gone from an average of 235 DOM to 129 DOM or a drop of 45%

Neighborhoods

• Old Greenwich has had 117 sales in 2021 vs 55 sales by August 2019, an increase of 89%
• Cos Cob (157%), Glenville (129%), South of the Parkway (122%), Pemberwick (120%), Riverside (105%), South of the Post Road (103%), and North of the Parkway (100%) have all seen sales double or more from 2019 to 2020
• South of the Parkway (down to the Post Road) saw sales volume go from $295 million to $836 million an increase of 184%
• Riverside saw the average sold price per s.f. increase by 23% in 2 years from $540/s.f. to $666/s.f. in 2021
• Cos Cob saw the average sales price to assessment ratio increase by 19% from August 2019 to August 2021

It’s been amazing, if we get more listings, it will continue to be that way.