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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.
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“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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