March 5, 2024 (Greenwich, CT) - The Greenwich Association of REALTORS® announces the statistics for home sales for the month of February 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 17 single-family residential closings reported across all areas of Greenwich during the month of February 2024. This figure increased 13.3% as compared to February 2023 when there were 15 closings.
The Median Sale Price for a single-family home increased 40% to $3,350,000 from the median sales price in February 2023, which was $2,376,000.
The average Days On Market (DOM) for residential homes was 57 days; which was a 60% decrease from 144 days in February 2023.
There were 56 new single-family listings brought to the market in February 2024, which is a 19% increase in New Listings when compared to February 2023 when there were 47. At month-end, Active single-family inventory totaled 136 units, which is a 26.9% decrease from February 2023 when there were 186 units available.
Condominium and Co-op Sales
There were 10 condo/co-op residential closings reported across all areas of Greenwich during the month of February 2024. This figure decreased 41% as compared to February 2023 when there were 14 closings.
The Median Sale Price for a condo/co-op increased 18.9% to $832,500 from the median sales price in February 2023, which was $700,000.
The average Days On Market (DOM) for condo/co-op residential homes was 32, which was a 52% decrease from 68 days in February 2023.
There were 14 new condo/co-op units brought to the market in February 2024, which is the same number of new listings when compared to February 2023. At month-end, Active condo/co-op inventory totaled 29 units, which is a 39.6% decrease from February 2023 when there were 48 units available.
"In terms of median price, single family homes in the Town of Greenwich saw a 40% increase throughout February 2024, ending the month at $3,350,000, as compared to the same month year prior $2,376,000. Condo/Co-op median price saw an increase of 18%, finishing the month at $832,500, as compared to the same month year prior $700,000” 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