June 8, 2021 3:58 pm Greenwich Real Estate Market Report – May 2021 Sales
There were 88 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 May 2020 when there were 54 closings.
The median sale price for a single-family home increased to $2,387,000 from the median sales price in May 2020, which was $1,910,000, a 25 % increase.
The average days on the market (DOM) for residential homes was 163 days; which was a decrease from 266 days in May 2020.
There were 22 condo/co-op residential closings reported during this time period; which was an increase from May 2020 when there were 11 closings.The median sale price for a condo/co-op increased to $775,000 from the median sales price in May 2020, which was $515,000. The average days on the market (DOM) for condo/co-op residential homes was 319; which was an increase from 227 days in May 2020.
“May 2021 had eighty-eight residential closings; a sixty-two percent increase from May 2020 when there were fifty-four closings. Greenwich was the sector in town with the most closings, ending May with fifty-one sales; a fifty-nine percent increase from May 2020 when there were thirty-two closings. Condo/Co-Op sales had twenty-two closings in May 2021; a one-hundred percent increase from May 2020 when there were eleven closings.
The Dollar Volume for Single Family homes, May 2021 is $292,466,850. There were fifty-eight Single Family Price Reductions for May 2021 with a median price change of $155,000. The Dollar Volume for Condo/Co-Op homes, May 2021 is $18,179,440,” stated John McAtee, 2021 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.
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