News from GAR

January 2024 Greenwich Sales

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February 5, 2024 (Greenwich, CT) - The Greenwich Association of REALTORS? announces the statistics for home sales for the month of January 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.?

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Single-Family Home Sales

There were 28 single-family residential closings reported across all areas of Greenwich during the month of January 2024. This figure decreased 6.67% as compared to January 2023 when there were 30 closings.?

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The Median Sale Price for a single-family home increased 52% to $3,912,500 from the median sales price in January 2023, which was $2,567,500.

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The average Days On Market (DOM) for residential homes was 141 days; which was a 43% increase from 98 days in January 2023.

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There were 44 new single-family listings brought to the market in January 2024, which is a 12% increase in New Listings when compared to January 2023 when there were 39. At month-end, Active single-family inventory totaled 122 units, which is a 32.6% decrease from January 2023 when there were 181 units available.

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Condominium and Co-op Sales

There were 15 condo/co-op residential closings reported across all areas of Greenwich during the month of January 2024. This figure increased 25% as compared to January 2023 when there were 12 closings.?

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The Median Sale Price for a condo/co-op decreased 3.87% to $820,00 from the median sales price in January 2023, which was $853,000.?

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The average Days On Market (DOM) for condo/co-op residential homes was 71, which was a 21% decrease from 90 days in January 2023.

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There were 18 new condo/co-op units brought to the market in January 2023, which is a 37% increase in new listings when compared to January 2022 when there were 29 units added. At month-end, Active condo/co-op inventory totaled 33 units, which is a 41.1% decrease from January 2023 when there were 56 units available.

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"In terms of median price, single family homes in the Town of Greenwich saw a 52% increase throughout January 2023, ending the month at $3,912,500, as compared to both the month and year prior $2,567,500. Condo/Co-op single family home sales saw an increase of 25%, finishing the month with 15 sales, as compared to both the month and year prior of 12 sales” stated Bryan Tunney, 2023 President of the Greenwich Association of REALTORS?.

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The Greenwich Association of REALTORS? (“GAR”) 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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Wholly owned and operated by GAR, the Greenwich MLS facilitates the most convenient and efficient marketplace for both REALTORS? and consumers by providing instant exposure to the largest possible pool of potential buyers for sellers, and the greatest number of housing options for buyers, which means sellers will receive top dollar for their home, while buyers benefit from transparency in market value.

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Looking to purchase, sell or lease a home in the Greenwich, CT area? I'm pleased to work with you as your REALTOR? ...reach out today.