February sales statistics from the Greenwich MLS

March 17, 2016 (Greenwich, CT) – The Greenwich Association of REALTORS® announces the statistics for home sales in The Town of Greenwich, CT. for the month of February 2016.
There were 43 single-family residential closings reported during this period according to figures provided by The Greenwich Multiple Listing Service, Inc., the multiple listing service used by REALTORS® in the Greenwich area.
The number of single-family residential closings increased, compared to February 2015 when there were 36 closings in February. The median sale price for a single-family home decreased to $1,550,000 from $1,747,500; the median sales price in February 2015.
The average days on the market (DOM) for residential homes was 230 days; which was an increase from 181 days in February 2015.
“This was the highest number of closings in February for the past six years. Old Greenwich continues to be the strongest market in Town. There are fewer listings available in Old Greenwich and double the sales year-to-date in 2016 compared to 2015. Overall in all areas of Town prices remain strong and homes are selling for on average 97% of their list prices,” stated Joann Erb, 2016 President of the Greenwich Association of REALTORS.
Whatever. TheMLS figures I can glean are 2015: 43 single family sales in February; vs 46 in 2016.
There were 7 sales in OG year-to-date in 2015, 11 this year. 12 in Riverside in 2015, 13 this year.
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Old Greenwich saw 5 listed sales (and one unlisted) this February, for an average sale-to-list-ratio of 90%. Riverside saw 8 sales, average list-to-sell of 93%. The difference in that number compared to Joan Erb’s assertion of 97% is that the GMLS uses the last asking price to compute the ratio, rather than the original. 146 Hendrie Avenue, for instance, sold for 79% of its original price of $4.495 million. Using the MLS method, and thus the last price of $3.895, that figure jumps to 93%,
Just saying.
single family closings
Median price

2 Comments

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2 responses to “February sales statistics from the Greenwich MLS

  1. Cos Cobber

    The industry should probably move to comparing 90 or 120 day periods rather than single months to help smooth out the noise.

    • Mickster

      So funny, that was my feeling when I initially read the report. One month in this business does not a story tell.