Greenwich CT, Residential Real Estate Blog and Analysis: August 7th
Greenwich, CT Residential Real Estate Blog and Analysis:
August 7th
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**The information on the featured property and all statistical information is from the Greenwich MLS.
**All opinions garnered from the statistics are my own
Properties Sold
We As you can tell by the above graph. We have had a great two months. May and June really made up for a slower March and April and have pulled us ahead of last year's numbers. In June 131 properties sold compared to 101 in June of last year.
New Listings
We had 135 new listings in June compared to 124 new listings last year. Thus demonstrating we are more competitive than last year. As we enter typically the slowest time of the year in the next two months I am intrigued to see if we can keep the momentum. |
Year to Date Sold
Below is what I said last month. The inventory that hit the market in the lower numbers really help push the market. We had a 50% growth sold in the $500K-$1M market in June where that price range grew from 57 properties sold to 82 in just one month.
"We had a lot of inventory hit the market but it is in the right price ranges. The biggest jump was the $500K to $1M and the $2M-$3M ranges. We also had a great May in regards to closed properties." Year to Date Available
In an effort to define the different markets as a good time to buy or sale I believe one needs to look at the months on average it would take to sell through the inventory we have. The first chart is the 2014 inventory vs. sold numbers. The second chart is inventory today vs. sold properties.
Notice the huge fall in the months on average to sell through the inventory. Everything had a dramatic drop in just one month, except for the over $7.5M range. This just shows how much June positively affected the market. Looking at these two charts really shows the market and the difference between last year. The numbers typically go up in April, as that is the month that the most amount of inventory hits the market. It is interesting to see this year's change in the months on average vs. the same time last year.
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