The Greenwich Real Estate Guy's Blog: October 22nd Open House List and 3rd Quarter Market Review

The Greenwich Real Estate Guy's Blog: October 22nd Open House List and Third Quarter Market Report

2023 Q3 Market Report weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

Pictured above is the 2023 Q3 Greenwich Market Report. Here is the analysis from our President and CEO Liz Nunan: The third quarter of 2023 was marked by a scarcity of available properties in Greenwich, Connecticut, perpetuating at or near record low inventory levels. Townwide, the average list-to-sale price ratio remains narrowly below 100%, reflecting intense buyer competition in most price categories. Homes spent the lowest amount of time on the market in years, attributed to ready, willing, and able buyers and a large percentage of cash purchases. Consequently, both sales and pending contracts experienced declines due to inventory constraints. Among the highlights in the market, home sales at the high-end are a bright spot with year-over-year gains in both contracts and closings. Cos Cob and Old Greenwich both achieved list-to sale prices above 100% in the quarter while Old Greenwich had the shortest days on market of any neighborhood in town. While overall demand might suggest otherwise, buyers remain discerning. Accurate pricing remains critical as overly inflated prices can cause homes to be overlooked and lead to seller disappointment. We anticipate buyer demand to continue with given how much Greenwich offers from housing to recreation, schools, culture, and more. It remains an opportune time to sell here and we are grateful to our clients and community for continuing to choose Houlihan Lawrence year after year. With Warm Regards, Liz Nunan President and CEO  October 22nd Open House List I have paid to allow clients to open up portals to see all listings as they come on the market real time to you, so feel free to  search properties based on your own parameters or set up a portal to get notifications on a customized search. For readers that just follow on the Greenwich Patch I will not be posting all entries on the patch. You can read all postings at www.greenwichrealestateguy.com/blog.   Feel free to subscribe here to receive each post. Please do not hesitate to email (jrandall@houlihanlawrence.com) or call (203-273-1034) if I can assist in any way. Best,                                    Jared Randall                                                 Join my Mailing List  Houlihan Lawrence Greenwich                      Search Properties  www.greenwichrealestateguy.com           cell: 203-273-1034                       View My Website  email:  jrandall@houlihanlawrence.com      Like me on Facebook