June 2018 vs June 2017

With the exception of Old Greenwich, the number of home sales in June 2018 was down from the same month one year ago.  Sales were off 17.7% in Greenwich, 36.4% in Cos Cob and 23.8% in Riverside.  Old Greenwich had 15 home sales.  That’s up a whopping 87.5% from 8 in June 2017.

Average sale prices were generally higher in June 2018 except for Riverside which saw a 20.5% decrease from June 2017.  Average sale prices jumped 56.2% in Cos Cob and 40.04% in Old Greenwich.

Homes that sold in June 2018 were on the market longer compared to June 2017.  Average days on market in Greenwich rose 29.9% to 208 days and up  45.28% to 231 days for Cos Cos.  Old Greenwich saw a 37.91% rise to 211 days while Riverside experienced a 72.09% jump to 222 days on average.

GREENWICH

     
Statistic Jun-18 Jun-17 % Change
Sold Listings 51 62 -17.7
Absorption Rate 15.56 15.52 0.26
Average List Price $3,638,613 $3,769,632 -3.48
Median List Price $2,725,000 $2,595,000 5.01
Average Sale Price $2,154,873 $2,132,033 1.07
Median Sale Price $1,490,000 $1,527,325 -2.44
Average CDOM 208 161 29.19
Median CDOM 91 73 24.66
Sale Price to Original List Price Ratio 91.1% 93.2% -2.25
 Active Listings  608 591  2.9

 

     
       

Cos Cob

     
Statistic Jun-18 Jun-17 % Change
Sold Listings 7 11 -36.4
Absorption Rate 9 8.71 3.33
Average List Price $1,568,093 $1,610,484 -2.63
Median List Price $1,395,000 $1,324,500 5.32
Average Sale Price $1,730,000 $1,107,545 56.2
Median Sale Price $1,655,000 $971,000 70.44
Average CDOM 231 159 45.28
Median CDOM 141 72 95.83
Sale Price to Original List Price Ratio 88.30% 92.60% -15.8
Active Listings 75 74 1.4

Old Greenwich

     
Statistic Jun-18 Jun-17 % Change
Sold Listings 15 8 87.5
Absorption Rate 12.75 10.07 26.61
Average List Price $2,538,049 $2,630,307 -3.51
Median List Price $2,062,000 $2,200,000 -6.27
Average Sale Price $2,526,733 $1,804,250 40.04
Median Sale Price $2,280,000 $1,740,500 31
Average CDOM 211 153 37.91
Median CDOM 70 111 -36.94
Sale Price to Original List Price Ratio 93.10% 91.20% 2.08
 Active Listings  102  99  3.0

Riverside 06878

     
Statistic Jun-18 Jun-17 % Change
Sold Listings 16 21 -23.8
Absorption Rate 12.59 11.18 12.61
Average List Price $2,893,676 $3,244,269 -10.81
Median List Price $2,398,000 $2,295,000 4.49
Average Sale Price $2,405,019 $3,008,071 -20.05
Median Sale Price $1,662,500 $2,450,000 -32.14
Average CDOM 222 129 72.09
Median CDOM 90 58 55.17
Sale to Original List Price Ratio 92.60% 94.80% -2.32

Disclaimer: All information provided is deemed reliable, but is not guaranteed and should be independently verified.

LINKS

GLOSSARY

Sold Listings:   Total number of listings with completed or closed sales contracts during the month.
Absorption Rate:  Shows how long the current inventory of properties would last at the current rate of sales.  If no new properties were added to the market, and sales continued at a steady pace, the Absorption Rate indicates the number of months required to sell all the properties on the market.

Average Sale Price: Calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold.

Median Sale Price:  Sale price in the middle of the data set when you arrange all the sale prices from low to high. The median sale price, then, represents the figure at which half of the properties in the area sell at a higher price and other half at a lower price.

CDOM:  Continuous Days On Market is the number of days from the listings begin date until it was pended.   If there were any days it was off the market (ex. temporarily withdrawn), then those days are subtracted.  If the property was taken off the market (but not sold) and was listed again within 90 days, then the days it was previously on the market are added to CDOM.

Sale Price to Original List Price Ratio:  Shows how the sale prices of properties compare to their original list prices.  Numbers below 100% indicate that, on average, properties sold for less than their original list prices. Numbers above 100% indicate that, on average, properties sold for more.

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GREENWICH HOMES FOR SALE