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.
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.