November 5, 2024 (Greenwich, CT) - The Greenwich Association of REALTORS® announces the statistics for home sales for the month of October 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 34 single-family residential closings reported across all areas of Greenwich during the month of October 2024. This was a decrease, compared to October 2023 when there were 38 closings.
The Median Sale Price for a single-family home increased 32.59% to $3,397,500 from the median sales price in October 2023, which was $2,562,500.
The average Days On Market (DOM) for residential homes was 106 days; which was a 1.92% increase from 104 days in October 2023.
There were 57 new single-family listings brought to the market in October 2024, which is a 3.64% increase in New Listings when compared to October 2023 when there were 55. At month-end, Active single-family inventory totaled 167 units, which is a 2.3% decrease from October 2023 when there were 171 units available.
Condominium and Co-op Sales
There were 13 condo/co-op residential closings reported across all areas of Greenwich during the month of October 2024. This was an increase, compared to October 2023 when there were 12 closings.
The Median Sale Price for a condo/co-op increased 35.06% to $1,300,000 from the median sales price in October 2023, which was $962,500.
The average Days On Market (DOM) for condo/co-op residential homes was 49, which was a 48.96% decrease from 96 days in October 2023.
There were 20 new condo/co-op units brought to the market in October 2024, which is a increase of new listings compared to October 2023 when there were 15. At month-end, Active condo/co-op inventory totaled 33 units, which is a 17.5% decrease from October 2023 when there were 40 units available.
"The Greenwich residential market saw interesting shifts in October. Single-family home prices surged, while condo/co-op prices moderated. Inventory remains a key factor, with active listings down for both property types. It's a dynamic market, and buyers and sellers should work with a Realtor to navigate the complexities”, 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