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.
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 100 % 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.
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.
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Greenwich, CT 06830
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