October 18, 2023 11:22 am Greenwich Real Estate Market Report – September 2023 Sales
The Greenwich Association of REALTORS® announces the statistics for home sales for the month of September 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 43 single-family residential closings reported across all areas of Greenwich during the month of September 2023. This figure decreased 23.2 % as compared to September 2022 when there were 56 closings.
The Median Sale Price for a single-family home increased 54 % to $3,250,000 from the median sales price in September 2022, which was $2,100,000.
The average Days On Market (DOM) for residential homes was 100 days; which was a 49 % increase from 67 days in September 2022.
There were 65 new single-family listings brought to the market in September 2023, which is a 12 % decrease in New Listings when compared to September 2022 when there were 74. At month-end, Active single-family inventory totaled 150 units, which is a 42.3 % decrease from September 2022 when there were 260 units available.
Condominium and Co-op Sales
There were 11 condo/co-op residential closings reported across all areas of Greenwich during the month of September 2023. This figure decreased 22 % as compared to September 2022 when there were 9 closings.
The Median Sale Price for a condo/co-op increased 4.4 % to $914,000 from the median sales price in September 2022, which was $875,000.
The average Days On Market (DOM) for condo/co-op residential homes was 115, which was just over a 10 % decrease from 47 days in September 2022.
There were 23 new condo/co-op units brought to the market in September 2023, which is a 9.5 % increase in new listings when compared to September 2022 when there were 21 units added. At month-end, Active condo/co-op inventory totaled 47 units, which is a 38.2 % decrease from September 2022 when there were 76 units available.
“In terms of median sales, single family homes in the Town of Greenwich saw a 54 % increase throughout September 2023, ending the month at $3,250,000, as compared to both the month and year prior with a median sales price of $2,100,000. Condo/Co-op median sales also saw an increase of 4%, finishing the month at $914,000, as compared to both the month and year prior with a median sales price of $875,000,” stated Bryan Tunney, 2023 President of the Greenwich Association of REALTORS®.
The Greenwich Association of REALTORS® 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.
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