December 5, 2024 (Greenwich, CT) - The Greenwich Association of REALTORS® announces the statistics for home sales for the month of November 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 39 single-family residential closings reported across all areas of Greenwich during the month of November 2024. This was a decrease, compared to November 2023 when there were 40 closings.
The Median Sale Price for a single-family home increased 13.03% to $2,255,000 from the median sales price in November 2023, which was $1,995,000.
The average Days On Market (DOM) for residential homes was 65 days; which was a 17.72% decrease from 79 days in November 2023.
There were 14 new single-family listings brought to the market in November 2024, which is a 48.15% decrease in New Listings when compared to November 2023 when there were 27. At month-end, Active single-family inventory totaled 131 units, which is a 12.7% decrease from November 2023 when there were 150 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 November 2024. This was an increase, compared to November 2023 when there were 15 closings.
The Median Sale Price for a condo/co-op increased 11.43% to $1,170,000 from the median sales price in November 2023, which was $1,050,000.
The average Days On Market (DOM) for condo/co-op residential homes was 44, which was a 16.98% decrease from 53 days in November 2023.
There were 12 new condo/co-op units brought to the market in November 2024, which is a decrease of new listings compared to November 2023 when there were 15. At month-end, Active condo/co-op inventory totaled 31 units, which is a 16.2% decrease from November 2023 when there were 37 units available.
"Greenwich's real estate market is currently undergoing a dynamic transformation. While single-family home prices have surged, the condo and co-op sectors have experienced more tempered price adjustments. A key driver of this shift is the notable decline in available listings across both property types, which is reshaping market trends. In this evolving environment, partnering with an experienced Realtor can be invaluable for both buyers and sellers, helping them navigate the complexities and seize opportunities for success.”, 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