Greenwich sales inventory

We currently have 603 single family homes for sale, (compared to 505 this time last year). With 31 sales/contracts in the past 90 days, that’s a 58 month inventory.

We have 100 homes for sale that were built in 2007 or later – three went to contract in the past 90 days. I’ll let readers do the math on this one (hint, that would be one per month).


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9 responses to “Greenwich sales inventory

  1. CEA

    how about houses >$5 mil or >$7 mil or whatever high number of your choosing? Would that be more relevant than WHEN they were built?

    • christopherfountain

      The age of the house, CEA, is of interest IF you assume that builders need cash and owners of existing homes do not. That’s a big if these days, when top tier people are losing their jobs. In either case, we’re not selling many high end houses but interestingly enough, of the 7 or 8 that have sold, only 2 were new.

  2. anonymous

    Is there typically a seasonal uptick in inventory as Spring approaches?

    • christopherfountain

      There used to be a spring market and it usued to start right after the Martin Luther King holiday (or mid January, before there was such a holiday). It seems to have been delayed this year.

  3. Retired IB'er

    So if it’s a seller’s market when there is 6 months or less of inventory. What is a market with 58 months of inventory called, you tell me:

    a) a slightly skewed to the buyer’s side
    b) a who in their right mind would buy market
    c) a seller’s being choosy who they sell to market,
    d) a seller’s are screwed market, or
    e) a Chris Fountain destroyed by his blog market?

    Place your vote…

    I’ll go first… E! 🙂

  4. CEA

    Good point on the builders.

    Tee hee Retired IBer!

    I love the ‘Choosy sellers’.

  5. anonymous

    Yrs ago, recall a young M&A banker (now runs a large HF) telling me what he had most vividly learned from his 3-4 yrs among savvy M&A bankers, esp re: sale processes

    They’d meet w/a company pondering a sale…one of first discussion points amongst I-bankers post-meeting was real motivation of CEO….quick and dirty bets would be made re: his personal net worth; how liquid; how much equity in company; how costly a lifestyle; how many divorces or costly wives; extent of private plane addiction, etc

    Would be great fun to place bets on Greenwich sellers to figure out which are motivated or distressed sellers vs those who supposedly are recession-immune, but put their house on mkt vs simply delusional, etc….suspect any M&A-oriented guy could accurately categorize any seller rather quickly (within minutes)….humans will be humans

  6. hunkereddown

    I would bet there are a lot less distressed sellers in Greenwich than you think. Sure some of the spec builders are hurting, but remember money is still cheap – interest rates historically low. Most people can ride this out for a few years. Could there be downside to waiting, absolutely, but most sellers are just going to camp until they get their price.

    IB’ers, HF and PE guys are pretty smart. Won’t take long before they get things kicking again. History repeats itself. In the mean time, it’s a nice place to be holed up. Could be a rough ride for the realtors.

  7. rivdiv

    Amen to that. Greenwich is a very nice place to live. Should I have sold two years ago, downsized a bit, put away some money?…sure…..if my house had been an investment. But, for many of us, it is a place to live….so, I retire here. Darn.