But a reader asked, so I’ll tell. “How’s the market activity?” Not so swift. The past two weeks saw 25 accepted offers, 2 of which were for houses asking more than $2 million ($4.70 million and $3.495, respectively). The rest were under $2 million and 11 of those were under $1 million. Ouch.
Happy, happy, joy, joy!
Would you mind posting the listings for the $4.7 and $3.495 houses? Just curious as to the quality of homes selling in that range.
Just culling the herd of real estate agents in Greenwich …..
So have agents been leaving and not signing up?
So you are saying that in the last 2 weeks, 92% of the accepted offers are below $2 million.
This is in line with the huge reduction in bonus this year and the ugly forecast for bonuses in the several years to come.
That seems to be what the numbers say Small sample, of course and, after I wrote that a third house over $2 million was reported so while I wouldn’t be wedded to the exact percentage, it’s clear that the low end of the market is still alive while the high end is taking a time out. Or dead – we’ll see.
The ones who should be worried the most from these statistics Chris are the builders. Given that buyers are clearly scaling down, builders will have to look for smaller and cheaper land or smaller and more desired land (Old Greenwich and Riverside).
Chris, I don’t see this as a small sample. The total number of properties for sale now is roughly 500. A sample size of 25 out of 500 is a good sample.
But you are right, 92% is just an estimate and never exact.