Greenwich CT – October 202
Single-family home sales in Greenwich rose in October 2020. There were 92 closings up 130% from the same month last year.
Home prices continue to rise due to high demand and low inventory. The median sale price in October 2020 was $2,412,500. That’s a jump of 28.1% from October 2019.
Buyers paid an average of 95.8% of the home’s list price in October 2020. That’s up 2.5% from October 2019.
Homes sold more quickly in October 2020. They spent an average of 200 days on the market or 16.9% fewer days compared to October 2019.
Buyers didn’t have as many homes to choose in October 2020. There were 540 active listings– down 19.2% from October 2019.
Despite the addition of new listings to the market, inventory continues to remain low. The absorption rate, the number of months it would take to sell all currently listed homes in the market, was 5.9. That’s down 64.8% from October 2019. With good demand and a smaller supply, sellers might be able to list their homes for more than they anticipated.
|Oct 2020||Oct 2019||% Change|
|Median Sale Price|
|Sale/List Price Ratio|
|Avg Days on Market|