September 17, 2022 11:08 am Greenwich Real Estate Market Report – August 2022 Sales
There were 74 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 decreased compared to August 2021 when there were 96 closings. The median sale price for a single-family home increased to $2,700,000 from the median sales price in August 2021, which was $2,202,500, a 23 % increase.
The average days on the market (DOM) for residential homes was 62 days; which was a decrease from 84 days in August 2021.
There were 22 condo/co-op residential closings reported during this time period; which was an increase from August 2021 when there were 15 closings.
The median sale price for a condo/co-op increased to $849,500 from the median sales price in August 2021, which was $720,000.
The average days on the market (DOM) for condo/co-op residential homes was 49; which was a decrease from 63 days in August 2021.
“August 2022 had seventy-four closings with a median sales price of $2,700,000; an increase of twenty-two percent, from the median sales price in August 2021, which was $2,202,500. Greenwich was the sector in town with the most closings, ending August with thirty-nine sales and a median sales price of $3,800,000; a forty-five percent increase from the median sales price in August 2021, which was $2,612,500. Condo/Co-Op sales had twenty-two closings in August 2022 with a median sales price of $849,500. The Dollar Volume for Single Family homes, August 2022 is $253,443,342. The Dollar Volume for Condo/Co-Op homes, August 2022 is $29,538,500,” stated Bryan Tunney, 2022 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.
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Greenwich, CT 06830
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