January 5, 2024 (Greenwich, CT) - The Greenwich Association of REALTORS® announces the statistics for home sales for the month of December 2023 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 32 single-family residential closings reported across all areas of Greenwich during the month of December 2023. This figure decreased 5.88% as compared to December 2022 when there were 34 closings.
The Median Sale Price for a single-family home increased 7% to $2,225,000 from the median sales price in December 2022, which was $2,072,500.
The average Days On Market (DOM) for residential homes was 76 days; which was a 7% decrease from 82 days in December 2022.
There were 12 new single-family listings brought to the market in December 2023, which is a 29% decrease in New Listings when compared to December 2022 when there were 17. At month-end, Active single-family inventory totaled 108 units, which is a 38.3% decrease from December 2022 when there were 175 units available.
Condominium and Co-op Sales
There were 7 condo/co-op residential closings reported across all areas of Greenwich during the month of December 2023. This figure decreased 66% as compared to December 2022 when there were 21 closings.
The Median Sale Price for a condo/co-op increased 66.9% to $1,010,168 from the median sales price in December 2022, which was $605,000.
The average Days On Market (DOM) for condo/co-op residential homes was 120, which was a 126% increase from 53 days in December 2022.
There were 4 new condo/co-op units brought to the market in December 2023, which is a 42% decrease in new listings when compared to December 2022 when there were 8 units added. At month-end, Active condo/co-op inventory totaled 29 units, which is a 39.6% decrease from December 2022 when there were 48 units available.
"In terms of median price, single family homes in the Town of Greenwich saw a 7% increase throughout December 2023, ending the month at $2,225,000, as compared to both the month and year prior $2,072500. Condo/Co-op median sales saw an increase of 66%, finishing the month at $1,010,168, as compared to both the month and year prior with a median sales price of $605,000” stated Bryan Tunney, 2023 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