Here is a summary of real estate activity in January 2020 for the Old Greenwich section of Greenwich CT:
Old Greenwich
Statistics Jan 2020 vs Jan 2019
| Statistic | Jan 2020 | Jan 2019 | % Chg |
|---|---|---|---|
| Absorption Rate | 5.75 | 6.12 | -6.05 |
| Average List Price | 2311252.63 | 2318844.17 | -0.33 |
| Median List Price | 1995000.00 | 2075000.00 | -3.86 |
| Average Sale Price | 2619017.60 | 1948454.55 | 34.42 |
| Median Sale Price | 1350000.00 | 1625000.00 | -16.92 |
| Average CDOM | 309 | 208 | 48.56 |
| Median CDOM | 171 | 224 | -23.66 |
Statistics YTD 2020 vs YTD 2019
| Statistic | 2020 YTD | 2019 YTD | % Chg |
|---|---|---|---|
| Absorption Rate | 5.75 | 6.12 | -6.05 |
| Average List Price | 2192278.79 | 2254096.67 | -2.74 |
| Median List Price | 1722000 | 1999999 | -13.90 |
| Average Sale Price | 2619017.60 | 1948454.55 | 34.42 |
| Median Sale Price | 1350000 | 1625000 | -16.92 |
| Average CDOM | 146 | 208 | -29.81 |
| Median CDOM | 171 | 224 | -23.66 |
The absorption rate reflects an estimate of the amount of time it would take to sell all of the current listings in a given area if no new listings became available.
Months of inventory are often referenced when determining whether it’s a seller’s market or a buyer’s market:
- If there are 0-4 months of inventory, meaning that all current listings can expect to be sold within 4 months, it is considered a seller’s market because houses are selling very quickly. In a seller’s market, sellers have the advantage because demand for property exceeds supply.
- If there are 5-8 months of inventory, it is considered a balanced market. Current listings aren’t selling like hotcakes, but they’re not staying on the market too long either.
- If there are 9 or more months of inventory, it is considered a buyer’s market because houses are selling slowly. In a buyer’s market, buyers have more negotiating power than sellers do because the supply of listings exceeds the current demand for housing.
These timelines are approximate, but it is generally accepted than fewer than 6 months of inventory reflects good conditions for sellers whereas greater than 6 months of inventory represents optimum conditions for buyers.
Sold Listings Jan 2020 vs Jan 2019
| Price Range | Jan-20 | Jan-19 | % Chg |
|---|---|---|---|
| 0-999,999 | 0 | 2 | -100.0 |
| 1,000,000-1,999,999 | 3 | 5 | -40.0 |
| 2,000,000-3,999,999 | 1 | 3 | -66.7 |
| 4,000,000-6,999,999 | 1 | 1 | 0.0 |
| 7,000,000 | 0 | 0 | 0.0 |
| Totals | 5 | 11 | -54.5 |
Sold Listings YTD 2020 vs YTD 2019
| Price Range | 2020 YTD | 2019 YTD | % Chg |
|---|---|---|---|
| 0-999,999 | 0 | 2 | -100.0 |
| 1,000,000-1,999,999 | 3 | 5 | -40.0 |
| 2,000,000-3,999,999 | 1 | 3 | -66.7 |
| 4,000,000-6,999,999 | 1 | 1 | 0.0 |
| 7,000,000 | 0 | 0 | 0.0 |
| Totals | 5 | 11 | -54.5 |
Pending Listings Jan 2020 vs Jan 2019
| Pending Listings | |||
|---|---|---|---|
| Price Range | Jan-20 | Jan-19 | % Chg |
| 0-999,999 | 0 | 1 | -100.0 |
| 1,000,000-1,999,999 | 2 | 2 | 0.0 |
| 2,000,000-3,999,999 | 0 | 0 | 0.0 |
| 4,000,000-6,999,999 | 1 | 1 | 0.0 |
| 7,000,000 | 0 | 0 | 0.0 |
| Totals | 3 | 4 | -25.0 |
Pending Listings YTD 2020 vs YTD 2019
| Pending Listings | |||
|---|---|---|---|
| Price Range | 2020 YTD | 2019 YTD | % Chg |
| 0-999,999 | 0 | 1 | -100.0 |
| 1,000,000-1,999,999 | 2 | 2 | 0.0 |
| 2,000,000-3,999,999 | 0 | 0 | 0.0 |
| 4,000,000-6,999,999 | 1 | 1 | 0.0 |
| 7,000,000 | 0 | 0 | 0.0 |
| Totals | 3 | 4 | -25.0 |
Active Listings Jan 2020 vs Jan 2019
| Active Listings | |||
|---|---|---|---|
| Price Range | Jan-20 | Jan-19 | % Chg |
| 0-999,999 | 14 | 12 | 16.7 |
| 1,000,000-1,999,999 | 16 | 13 | 23.1 |
| 2,000,000-3,999,999 | 18 | 21 | -14.3 |
| 4,000,000-6,999,999 | 9 | 5 | 80.0 |
| 7,000,000 | 0 | 1 | -100.0 |
| Totals | 57 | 52 | 9.6 |
Active Listings YTD 2020 vs YTD 2019
| Active Listings | |||
|---|---|---|---|
| Price Range | 2020 YTD | 2019 YTD | % Chg |
| 0-999,999 | 14 | 14 | 0.0 |
| 1,000,000-1,999,999 | 23 | 17 | 35.3 |
| 2,000,000-3,999,999 | 20 | 23 | -13.0 |
| 4,000,000-6,999,999 | 9 | 6 | 50.0 |
| 7,000,000 | 0 | 1 | -100.0 |
| Totals | 66 | 61 | 8.2 |
New Listings Jan 2020 vs Jan 2019
| New Listings | |||
|---|---|---|---|
| Price Range | Jan-20 | Jan-19 | % Chg |
| 0-999,999 | 2 | 3 | -33.3 |
| 1,000,000-1,999,999 | 10 | 4 | 150.0 |
| 2,000,000-3,999,999 | 3 | 3 | 0.0 |
| 4,000,000-6,999,999 | 0 | 0 | 0.0 |
| 7,000,000 | 0 | 0 | 0.0 |
| Totals | 15 | 10 | 50.0 |
New Listings YTD 2020 vs YTD 2019
| New Listings | |||
|---|---|---|---|
| Price Range | 2020 YTD | 2019 YTD | % Chg |
| 0-999,999 | 2 | 3 | -33.3 |
| 1,000,000-1,999,999 | 10 | 4 | 150.0 |
| 2,000,000-3,999,999 | 3 | 3 | 0.0 |
| 4,000,000-6,999,999 | 0 | 0 | 0.0 |
| 7,000,000 | 0 | 0 | 0.0 |
| Totals | 15 | 10 | 50.0 |
Listing information comes from various sources and may not always be accurate. No representation or warranty is made as to the accuracy of this information. You should verify any information that is important to your buying decision.
