June 6, 2022 (Greenwich, CT) - The Greenwich Association of REALTORS® announces the statistics for home sales in The Town of Greenwich, CT for the month of May 2022.
There were 58 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 decreased compared to May 2021 when there were 88 closings. The median sale price for a single-family home increased to $3,049,750 from the median sales price in May 2021, which was $2,387,000.
The average days on the market (DOM) for residential homes was 92 days; which was a decrease from 163 days in May 2021.
There were 21 condo/co-op residential closings reported during this time period; which was a decrease from May 2021 when there were 22 closings.
The median sale price for a condo/co-op increased to $1,425,000 from the median sales price in Mayl 2021, which was $775,000.
The average days on the market (DOM) for condo/co-op residential homes was 1`09; which was a decrease from 119 days in May 2021.
Pending sales as of Wednesday, June 15th for Single Family homes were ___ and ___ for Condo/Co-Op sales.
"May 2022 had fifty-eight closings with a median sales price of $3,049,750; a twenty-seven percent increase from the median sale price in May 2021, which was $2,387,000. Greenwich was the sector in town with the most closings, ending May with thirty-one sales and a median sales price of $3,335,000; a fifteen percent increase from the median sales price in May 2021, which was $3,335,000. Condo/Co-Op sales had twenty-one closings in May 2022 with a median sales price of $1,425,000; an eighty-three percent increase from the median sales price in May 2021, which was $775,000. The Dollar Volume for Single Family homes, May 2022 is $188,892,576. The Dollar Volume for Condo/Co-Op homes, May 2022 is $31,226,000”, stated Bryan Tunney, 2022 President of the Greenwich Association of REALTORS®.
Real Estate Report | Bryan Tunney 2022 GAR President & Stacey Loh, GAR EVP
The Greenwich Association of REALTORS® is the professional board of choice for the real estate industry in Greenwich. Established in 1924, the association provides professional development and services for REALTORS® and represents the concerns and interests of private property and home ownership rights. The association has over 850 members and is headquartered in Greenwich, CT.