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August 2016 Greenwich Sales

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There were 65 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 increased, compared to August 2015 when there were 52 closings in August. The median sale price for a single-family home decreased to $1,620,000 from $1,812,500 the median sales price in August 2015.
 
The average days on the market (DOM) for residential homes was 175 days; which was an increase from 153 days in August 2015.

 

 

“The soft summer market has ended as anticipated with fewer sales than last year and the majority of those in the under $1.5million price range. Closings for condos and co-ops were equal to 2015; with 18 units selling with a median price of $687,750. The start of the fall market looks more promising, especially for mid and back country listings. Several closings in the beginning of September were in the $4million to $8million range,” stated Joann Erb, 2016 President of the Greenwich Association of REALTORS.
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