July 17, 2023 4:54 pm Greenwich Real Estate Market Report – June 2023 Sales
The Greenwich Association of REALTORS® announces the statistics for home sales for the month of June 2023 according to figures provided by the Greenwich Multiple Listing Service, Inc. The Greenwich MLS and greenwich.realestate is the most accurate and comprehensive resource of active inventory and property listing data across all five zip codes of the Town of Greenwich.
Single-Family Home Sales
There were 77 single-family residential closings reported across all areas of Greenwich during the month of June 2023. This figure increased 11.59% as compared to June 2022 when there were 69 closings.
The Median Sale Price for a single-family home increased 1.27 % to $2,550,000 from the median sales price in June 2022, which was $2,518,000.
The average Days on Market (DOM) for residential homes was 88 days; which was a 41.94 % increase from 62 days in June 2022.
There were 58 new single-family homes brought to the market in June 2023, which is a 49.1 % decrease in New Listings when compared to June 2022 when there were 110. At month-end, Active single-family inventory totaled 167 units, which is a 35% decrease from June 2022 when there were 257 units available.
Condominium and Co-op Sales
There were 16 condo/co-op residential closings reported across all areas of Greenwich during the month of June 2023. This figure decreased 33.33 % as compared to June 2022 when there were 24 closings.
The Median Sale Price for a condo/co-op increased 22.51 % to $1,075,000 from the median sales price in June 2022, which was $877,500.
The average Days on Market (DOM) for condo/co-op residential homes was 41, which was a 51.19 % decrease from 84 days in June 2022.
There were 23 new condo/co-op units brought to the market in June 2023, which is a 37.84 % decrease in new listings when compared to June 2023 when there were 37 units added. At month-end, Active condo/co-op inventory totaled 51 units, which is a 19 % decrease from June 2022 when there were 63 units available.
“June 2023 saw a total dollar volume increase of 11.59 % to $246,659,855 for Single Family Homes across all areas as compared to June 2022. This brings the year-to-date total dollar volume to $792,186,415, which represents a 22.9 % decrease for the same period the year prior. This low inventory environment coupled with continued demand signals that it’s still a great time to sell,” stated Bryan Tunney, 2023 President of the Greenwich Association of REALTORS®.
The Greenwich Association of REALTORS® (“GAR”) is the professional board of choice for the real estate industry in Greenwich. Established in 1924, the association provides professional development and services for REALTORS® and represents the concerns and interests of private property and home ownership rights. The association has over 850 members and is headquartered in Greenwich, CT.
Wholly owned and operated by GAR, the Greenwich MLS facilitates the most convenient and efficient marketplace for both REALTORS® and consumers by providing instant exposure to the largest possible pool of potential buyers for sellers, and the greatest number of housing options for buyers, which means sellers will receive top dollar for their home, while buyers benefit from transparency in market value.
If you have any questions about the market or are considering buying, selling, renting or investing in the area, please feel free to contact Remy of Douglas Elliman.
Remy Cook
203 – 219 – 8233
Douglas Elliman
75 Arch Street
Greenwich, CT 06830
Licensed in CT & NY
RES. 0807125