November 13, 2023 11:13 am Greenwich Real Estate Market Report – October 2023 Sales
The Greenwich Association of REALTORS® announces the statistics for home sales for the month of October 2023 according to figures provided by the Greenwich Multiple Listing Service, Inc. The Greenwich MLS and greenwich.realestate is the most accurate and comprehensive resource of active inventory and property listing data across all five zip codes of the Town of Greenwich.
Single-Family Home Sales
There were 38 single-family residential closings reported across all areas of Greenwich during the month of October 2023. This figure increased 26.6 % as compared to October 2022 when there were 30 closings.
The Median Sale Price for a single-family home increased 6 % to $2,562,500 from the median sales price in October 2022, which was $2,402,500.
The average Days on Market (DOM) for residential homes was 104 days; which was a 197 % increase from 35 days in October 2022.
There were 55 new single-family listings brought to the market in October 2023, which is a 1 % decrease in New Listings when compared to October 2022 when there were 56. At month-end, Active single-family inventory totaled 154 units, which is a 39.6 % decrease from October 2022 when there were 255 units available.
Condominium and Co-op Sales
There were 12 condo/co-op residential closings reported across all areas of Greenwich during the month of October 2023. This figure decreased 20 % as compared to October 2022 when there were 15 closings.
The Median Sale Price for a condo/co-op increased 37.7 % to $962,500 from the median sales price in October 2022, which was $699,000.
The average Days on Market (DOM) for condo/co-op residential homes was 96, which was just over a 10 % decrease from 77 days in October 2022.
There were 15 new condo/co-op units brought to the market in October2023, which is a 6.2 % decrease in new listings when compared to October 2022 when there were 16 units added. At month-end, Active condo/co-op inventory totaled 36 units, which is a 47.1 % decrease from October 2022 when there were 68 units available.
“In terms of sales, single family homes in the Town of Greenwich saw a 26 % increase throughout October 2023, ending the month at 38 closings, as compared to both the month and year prior with 30 closings. Condo/Co-op median sales saw an increase of 37 %, finishing the month at $962,500, as compared to both the month and year prior with a median sales price of $699,000” stated Bryan Tunney, 2023 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, please feel free to contact Remy of Douglas Elliman.
203 – 219 – 8233
75 Arch Street
Greenwich, CT 06830
Licensed in CT & NY