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There were 25 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 November 2015 when there were 31 closings in November. The median sale price for a single-family home increased to $1,550,000 from $1,300,000 the median sales price in November 2015.
The average days on the market (DOM) for residential homes was 180 days; which was an increase from 156 days in November 2015.
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“November traditionally produces the least amount of closings and this November followed suit. The majority of the homes sold in November closed within 9% of the original list price. Three of the homes sold were over $4 million. We continue to see the trend of homes priced below $2 million in the highest demand. There are 80 homes under contract at the moment; some of which will close in 2017. We anticipate 2016 ending with 5% fewer sales than 2015 and a median price of approximately $1.7million,” stated Joann Erb, 2016 President of the Greenwich Association of REALTORS.
Courtesy of The Greenwich Association of REALTORS®