Maria Babaev | Luxury Homes Market Report
Greenwich, CT
Single-Family Homes
DOUGLAS ELLIMAN REAL ESTATE | LuxuryLongIsland.com | maria@luxurylongisland.com
Greenwich, CT
Sun Nov 24 2024
This week the median list price for Greenwich, CT is $5,995,000 with the market action index hovering around 31. This is about the same as last month's market action index of 31. Inventory has decreased to 103.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $5,995,000 | |
| Median Price of New Listings | $3,872,500 | |
| Per Square Foot | $830 | |
| Average Days on Market | 156 | |
| Median Days on Market | 119 | |
| Price Decreased | 27% | |
| Price Increased | 2% | |
| Relisted | 17% | |
| Inventory | 103 | |
| Median Rent | ||
| Market Action | 31 | |
| Slight Seller's Advantage | ||
In a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that new homes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $16,500,000 | 12,280 | 5 - 10 acres | 6 | 7.5 | 62 | 0 | 1 | 175 |
| $7,495,000 | 8,082 | 2.5 - 5 acres | 6 | 6.5 | 38 | 0 | 2 | 178 |
| $4,487,500 | 6,595 | 1 - 2.5 acres | 5 | 5.5 | 46 | 1 | 3 | 91 |
| $2,262,500 | 3,526 | 1 - 2.5 acres | 4 | 4 | 66 | 1 | 2 | 112 |