May 2014 Greenwich Real Estate Sales

June 19, 2014 (Greenwich, CT) - The Greenwich Association of REALTORS® announces the statistics for home sales in The Town of Greenwich, CT for the month of May 2014.

There were 53 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 decreased by 30% percent compared to May 2013 when there were 69 closings in May. The median sale price for a single-family home increased to $1,575,000 from $1,550,000, the median sales price in May 2013.

The average days on the market (DOM) for residential homes  was 155 days which was a significant decrease from 223 days in May 2013. 

“Although the number of closings decreased 30% year-over-year, 2013 had more closings than typically experienced in the month of May. The median price has remained consistent. Year-to-date there have been 193 single-family closings, which is consistent with last year. There were over 60 sales year-to-date in 2014 over $3million, with several over $10million. Year-to-date in 2013 there were no sales over $10million and just over 30 sales that were over $3million. There continue to be buyers in the market looking for attractive properties. There are over 150 single family properties that are currently under contract and we look forward to a healthy summer market,“ stated Barb McKee, 2014 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 750 members and is headquartered in Greenwich, Ct.