January 22, 2021 3:59 pm Greenwich Real Estate Market Report – December 2020 Sales
January 21, 2021 (Greenwich, CT) – The Greenwich Association of REALTORS® announces the statistics for home sales in The Town of Greenwich, CT for the month of December 2020.
There were 91 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 December 2019 when there were 37 closings, a 145 % increase.
The median sale price for a single-family home increased to $2,000,000 from median sales price in December 2019, which was $1,825,000, a 9 % increase.
The average days on the market (DOM) for residential homes was 140 days; which was a decrease from 258 days in December 2019.
There were 31 condo/co-op residential closings reported during this time period; which was an increase from December 2019 when there were 15 closings.
The median sale price for a condo/co-op increased to $885,000 from the median sales price in December 2019, which was $687,000.
The average days on the market (DOM) for condo/co-op residential homes was 186; which was a decrease from 197 days in December November 2019.
“December 2020 had ninety-one residential closings; a one hundred forty-five percent increase from December 2019 when there were thirty-seven closings. The median sale price was $2,000,000; a nine percent increase from the median sale price in December 2019, which was $1,825,000. Greenwich was the sector in town with the most closings, ending December with fifty-two sales; a one hundred sixty percent increase from December 2019 when there were twenty closings. The median sale price was $2,297,509; a nineteen percent increase from the median sale price in December 2019, which was $1,922,500.
Condo/Co-Op sales had thirty-one closings in December 2020; a one hundred six percent increase from December 2019 when there were fifteen closings. The median sale price was $885,000; a twenty nine percent increase from the median sale price in December 2019, which was $687,000.
The year-end numbers for 2020 were remarkable. There were 861 Single Family sales in 2020, which is up 63% from 2019. The median sale price for the year also increased to just over $2 Million, an 11% jump from the year prior.
There were also 220 Condo and Co-op sales across town in 2020, a 38% increase from 2019. The median sale price for Condos and Co-ops stayed relatively steady at $707,500, a 2% increase from the year prior,” stated John McAtee, 2021 GAR President.
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, or renting in the area feel free to contact Remy of Douglas Elliman.
Remy Cook
203 – 219 – 8233
Douglas Elliman
88 Field Point Road
Greenwich, CT 06830
Licensed in CT & NY
RES. 0807125