June 2011 Market Summary

We’ve talked in this newsletter before about statistics and how they can be influenced to say something that isn’t quite what it appears to be. The first of July had a monumental state conveyance tax increase which pushed the number of closings up in June. And while the market has been perking along, this tax change provided great incentive to close in June and not in July so the numbers are skewed.

That being said we had 105 single family home sales in the town of Greenwich during the month of June. The median list price was $1,895,000; median closing price was $1,680,000 with median sale price to list price ratio of 93.6% and median days on market of 96. Last year, we had 67 closings with a $2,075,000 median list price, $1,850,000 close price and median days on market of 78. These stats themselves were influenced by a sale of $31,375,000 which raised the median closing price.

So while this is one way to keep an eye on the market, specific research for your transaction is very important before you buy or sell a home.

As always, let us know if you would like more information on any property or statistic.

June 2011 Single Family Sales at a glance:

•The highest priced home: listed: $42,500,000 sold: $39,500,000 days on market: 258
•The lowest priced home: listed: at $308,000 sold: $280,000 days on market: 202
•The median number of days on market was 96
• The median sale price online

to list price was 93%
•The median sale price per sq. ft. was $500

	beds	baths	Sqft	LP	lp/sqft	Sp	sp/sqft	sp/lp	dom	transactions
2009 medians	4	3	3,205	$1,599,000	$522	$1,550,000	$461	92%	94	33
2010 medians	5	3	3,430	$2,075,000	$562	$1,850,000	$534	92%	78	67
2011 medians	4	3	3,419	$1,895,000	$539	$1,680,000	$500	93%	96	105