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July 2016 Greenwich Sales

August 18, 2016 (Greenwich, CT) – The Greenwich Association of REALTORS® announces the statistics for home sales in The Town of Greenwich, CT for the month of July 2016.

 There were 69 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 July 2015 when there were 72 closings in July. The median sale price for a single-family home increased to $1,950,000 from $1,812,500 the median sales price in July 2015.
 

The average days on the market (DOM) for residential homes was 167 days; which was an increase from 160 days in July 2015.

“July’s performance was consistent with 2015. Looking forward, there are currently 96 single-family homes under contract in the Town of Greenwich. August is typically a quiet month for closings; therefore many of those under contract will likely close in September to kick off the fall market. Of the 96 currently under contract, six of those properties are priced over $5million, while 41 of the listings were priced under $1.5million. Year-to-date there are 5% fewer sales compared to 2015 yet the dollar volume of sales is down 13%. Demand continues to be strong across the Town for properties under $2million in good condition,” stated Joann Erb, 2016 President of the Greenwich Association of REALTORS.

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