June 1, 2023 (Greenwich, CT) - The Greenwich Association of REALTORS® announces the statistics for home sales in The Town of Greenwich, CT for the month of May 2023.
There were 50 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 2022 when there were 59 closings. The median sale price for a single-family home decreased to $2,799,000 from the median sales price in May 2022, which was $3,109,500.
The average days on the market (DOM) for residential homes was 127 days; which was an increase from 92 days in May 2022.
There were 13 condo/co-op residential closings reported during this time period; which was a decrease from May 2022 when there were 21 closings.
The median sale price for a condo/co-op decreased to $875,000 from the median sales price in May 2022, which was $1,425,000.
The average days on the market (DOM) for condo/co-op residential homes was 37, which was a decrease from 109 days in May 2022.
"May 2023 had fifty closings with a median sales price of $2,799,000. Greenwich was the sector in town with the most closings, ending May with twenty-nine sales and a median sales price of $3,150,000. Condo/Co-Op sales had thirteen closings in May 2023 with a median sales price of $875,000. The Dollar Volume for Single Family homes, May 2023 is $154,907,400. The Dollar Volume for Condo/Co-Op homes, May 2023 is $13,247,000”, stated Bryan Tunney, 2023 President of the Greenwich Association of REALTORS®.
Real Estate Report | GAR 2023 President, Bryan Tunney & Stacey Loh, 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.