September 18, 2020 3:41 pm Greenwich Real Estate Market Report – August 2020 Sales
There were 108 single-family residential closings reported during this period according to figures provided by The Greenwich Multiple Listing Service, Inc., the multiple listing service used by REALTORS® in the Greenwich area.
The number of single-family residential closings increased compared to August 2020 when there were 66 closings. The median sale price for a single-family home increased to $2,222,500 from median sales price in August 2019, which was $1,712,500.
The average days on the market (DOM) for residential homes was 181 days; which was a decrease from 258 days in August 2019.
There were 26 condo/co-op residential closings reported during this time period; which was an increase from August 2019 when there were 7 closings.
The median sale price for a condo/co-op decreased to $738,750 from the median sales price in August 2019, which was $1,000,000.
The average days on the market (DOM) for condo/co-op residential homes was 185; which was an increase from 182 days in August 2019.
“August 2020 had one hundred eight single family residential closings; a sixty-four percent increase from August 2019 when there were sixty-six closings. The median sale price was $2,222,500; a 29% increase from the median sale price in August 2019, which was $1,712,500. Greenwich was the sector in town with the most closings, ending August with sixty-six sales; a one hundred six percent increase from August 2019 when there were 32 closings. The median sale price was $2,650,000; a thirty-six percent increase from the median sale price in August 2019, which was $1,937,500. Condo/Co-Op sales had twenty-six closings in August 2020; a two hundred seventy one percent increase from August 2019 when there were seven closings and a median sale price was $738,750” stated John McAtee, 2020 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 and or are considering buying, selling, or renting in CT/NY please contact Remy of Douglas Elliman.
203 – 219 – 8233
The Fieldstone Group
of Douglas Elliman
88 Field Point Road
Greenwich, CT 06830
Licensed in CT & NY