May 6, 2024 (Greenwich, CT) - The Greenwich Association of REALTORS® announces the statistics for home sales for the month of April 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 40 single-family residential closings reported across all areas of Greenwich during the month of April 2024. This figure remained the same, as compared to April 2023 when there were 40 closings.
The Median Sale Price for a single-family home decreased 12.33% to $2,293,675 from the median sales price in April 2023, which was $2,616,250.
The average Days On Market (DOM) for residential homes was 90 days; which was an 18.42% increase from 76 days in April 2023.
There were 96 new single-family listings brought to the market in April 2024, which is a 7.87% increase in New Listings when compared to April 2023 when there were 89. At month-end, Active single-family inventory totaled 167 units, which is a 20.9% decrease from April 2023 when there were 211 units available.
Condominium and Co-op Sales
There were 21 condo/co-op residential closings reported across all areas of Greenwich during the month of April 2024. This figure increased 31.25% as compared to April 2023 when there were 16 closings.
The Median Sale Price for a condo/co-op increased 16.15% to $935,000 from the median sales price in April 2023, which was $805,000.
The average Days On Market (DOM) for condo/co-op residential homes was 119, which was a 357.69% increase from 26 days in April 2023.
There were 22 new condo/co-op units brought to the market in April 2024, which is an increase of new listings compared to April 2023 when there were 15. At month-end, Active condo/co-op inventory totaled 34 units, which is a 35.8% decrease from April 2024 when there were 53 units available.
"In April, there were 167 active single-family units on the market across all areas of Greenwich. This signifies a 17% increase from the month prior, but a 20% decrease from the same time year-prior. Buyers are still facing tight inventory conditions and should be prepared to act quickly to stay competitive in the current market," 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