September 5, 2024 (Greenwich, CT) - The Greenwich Association of REALTORS® announces the statistics for home sales for the month of August 2024 according to figures provided by the Greenwich Multiple Listing Service, Inc. The Greenwich MLS and greenwich.realestate is the most accurate and comprehensive resource of active inventory and property listing data across all five zip codes of the Town of Greenwich.
Single-Family Home Sales
There were 62 single-family residential closings reported across all areas of Greenwich during the month of August 2024. This was a decrease, compared to August 2023 when there were 64 closings.
The Median Sale Price for a single-family home increased 6.98% to $2,800,000 from the median sales price in August 2023, which was $2,617,250.
The average Days On Market (DOM) for residential homes was 38 days; which was a 50.65% decrease from 77 days in August 2023.
There were 37 new single-family listings brought to the market in August 2024, which is a 7.50% decrease in New Listings when compared to August 2023 when there were 40. At month-end, Active single-family inventory totaled 153 units, which is a 1.3% decrease from August 2023 when there were 155 units available.
Condominium and Co-op Sales
There were 21 condo/co-op residential closings reported across all areas of Greenwich during the month of August 2024. This was an increase, compared to August 2023 when there were 21 closings.
The Median Sale Price for a condo/co-op increased 26.03% to $1,150,000 from the median sales price in August 2023, which was $912,500.
The average Days On Market (DOM) for condo/co-op residential homes was 72, which was an 67.44% increase from 43 days in August 2023.
There were 16 new condo/co-op units brought to the market in August 2024, which is an increase of new listings compared to August 2023 when there were 13. At month-end, Active condo/co-op inventory totaled 36 units, which is a 10% decrease from August 2023 when there were 40 units available.
"In August, the Median Sales Price for both Single Family homes, as well as Condo/Co-op’s have seen an increase. The Median Sales Price for Single Family homes in August was $2,800,000, a 6.98% increase compared to August 2023, which was $2,617,2500. The Median Sales Price for Condo/Co-op’s in August was $1,150,000, a 26.03% increase compared to August 2023, which was $912,500. The Dollar Volume for Single Family homes was $203,667,852 and for Condo/Co-op’s it was $36,435,300", stated Bryan Tunney, 2024 President of the Greenwich Association of REALTORS®.
The Greenwich Association of REALTORS® (“GAR”) 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.
Wholly owned and operated by GAR, the Greenwich MLS facilitates the most convenient and efficient marketplace for both REALTORS® and consumers by providing instant exposure to the largest possible pool of potential buyers for sellers, and the greatest number of housing options for buyers, which means sellers will receive top dollar for their home, while buyers benefit from transparency in market value.
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Media Inquiries: Stacey Loh, EVP/CEO
Greenwich Association of REALTORS®/Greenwich Multiple Listing Service, Inc.
40 East Elm Street, Greenwich, CT 06830