Tag Archives: Current Greenwich Inventory

Two steps forward, seven steps back

We started the day with 724 single family homes in inventory. Two went to contract today and we ended up with an inventory 0f 729.

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How large is the current housing inventory?

The Greenwich MLS reports that it’s run out of key boxes. Ordinarily, houses keep selling so keyboxes come off and are returned to the Board. Ordinarily.

WE ARE OUT OF KEYBOXES!
 
We’ve ordered more keyboxes and they should be here next week.  Please call first before coming to the office to make sure they have arrived.
 
By the way, if you have any keyboxes sitting around, please bring those in as well.
 
Thank you for your patience.
 

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Current Greenwich Inventory

We have, as of this morning, February 11, 2009, 583 single family houses available for purchase. 121 of those were built in 2005 or later and, of those, 98 are 2007 -2008 houses. The 2007-’08 model year prices range from $1.350,000 to $25,000,000. Two houses built during or after 2005 went to contract this year, three in the past 90 days.

We have seen 15 houses of any age go to contract this year, and their asking prices ranged from $445,000 (sold for $230,000) to $6.995 million (selling for $5 million, rumor has it). 31 houses went to contract in the past 90 days, 331 did so in all of 2008. That compares to 593 in 2007 and 622 in 2006.

UPDATE: There are 32 spec houses (built 2007 and ’08 ) for sale priced at $6.5 million and above.

7 houses, $6.5 – $7

6 houses $7 – $8

19 houses $8 million and up.

This does not count those houses, still unsold, built in 2005 and 2006. We have sold nothing for more than $6.5 million in a long time, at least as time is measured by builders trying to carry construction loans, so someone is in for a rough year and some buyers are going to find some bargains. Or the auctioneers will be busy – take your pick.

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