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.