October 4, 2024 (Greenwich, CT) - The Greenwich Association of REALTORS® announces the statistics for home sales for the month of September 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 37 single-family residential closings reported across all areas of Greenwich during the month of September 2024. This was a decrease, compared to September 2023 when there were 43 closings.
The Median Sale Price for a single-family home increased 1.969% to $3,305,000 from the median sales price in September 2023, which was $3,250,000.
The average Days On Market (DOM) for residential homes was 79 days; which was a 21% decrease from 100 days in September 2023.
There were 71 new single-family listings brought to the market in September 2024, which is a 9.23% increase in New Listings when compared to September 2023 when there were 65. At month-end, Active single-family inventory totaled 182 units, which is a 10.3% increase from September 2023 when there were 165 units available.
Condominium and Co-op Sales
There were 17 condo/co-op residential closings reported across all areas of Greenwich during the month of September 2024. This was an increase, compared to September 2023 when there were 11 closings.
The Median Sale Price for a condo/co-op decreased 5.91% to $860,000 from the median sales price in September 2023, which was $914,000.
The average Days On Market (DOM) for condo/co-op residential homes was 30, which was a 73.91% decrease from 115 days in September 2023.
There were 16 new condo/co-op units brought to the market in September 2024, which is a decrease of new listings compared to September 2023 when there were 23. At month-end, Active condo/co-op inventory totaled 31 units, which is a 36.7% decrease from September 2023 when there were 40 units available.
"In September, we saw a decrease in single-family home sales compared to last year, with 37 closings. However, the Median Sale Price for single-family homes increased to $3,305,000, showing continued strength in the market. We also observed a significant decrease in Days On Market, indicating a faster pace of sales. The condo/co-op market performed well, with an increase in closings and a Median Sale Price of $860,000. Overall, the Greenwich market remains active and dynamic, with these numbers reflecting both stability and areas of growth,” 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