The October real estate market was definitely slower than it was this time last year. There were only 30 single family homes sold and 28 contracts. Compare this with 40 homes sold in October ’09 and even 35 in September ’10 and it appears that caution was the word of the month. The median sale price for October ’10 was $1,720,000 with median days on market of 119 and a 91% sale price to list price. website down . In October ’09 the median sale price was $1,395,000 with median days on market of 161 and a %92 sale price to list price.
So while the prices were slightly higher this month the volume was down. Historically the fall market is just about over but based upon our clients’ activity and the showings for our listings, buyers are still out looking. Price is even more important than ever since there are 379 single family homes on the market in Greenwich between $1,000,000 and $5,000,000.
In a nutshell, there are homes and deals available for both the buyer and the seller and if the buyer is qualified and the seller is flexible, there is still time to close before the end of the year. As always, let us know if you would like more information on any property or statistic. Susan.Calabrese@cbmoves.com or Laura.Calabrese@cbmoves.com
OCTOBER 2010 SINGLE FAMILY SALES AT A GLANCE:
beds |
baths |
Sqft |
LP |
lp/sqft |
Sp |
sp/sqft |
sp/lp |
dom |
|||||||||||
2008 medians | 4 | 3 | 3,774 | $2,197,500 | $640.92 | $2,075,000 | $597.65 | 92% | 69 | 2009
medians |
4 | 3 | 2,700 | $1,447,500 | $539.49 | $1,395,000 | $470.59 | 92% | 161 |
2010
medians |
4 | 3 | 3,730 | $1,798,500 | $509.82 | $1,665,000 | $476.59 | 92% | 123 |