Barry Sternlicht, CEO of Starwood Capital Group, may be sour on the real estate market in Greenwich, Connecticut, as he stated at a recent investor conference in New York. The Greenwich Association of REALTORS®, as might be expected, have a modestly different take on the subject.
There were 57 single-family residential closings reported during September, according to figures provided by The Greenwich Multiple Listing Service, Inc., the MLS used by REALTORS® in the Greenwich area. That was up from 55 closings in September of last year. The median sale price for a single-family home decreased to $1,650,000 from $1,850,000, the median sales price in September 2015.
The average days on the market (DOM) for residential homes was 161 days; which was a decrease from 186 days in September 2015.
“September was a strong month for real estate sales. Sales increased by 4% compared to September 2015, showing the highest amount of closings over the past 5 Septembers. Public Open Houses are drawing a lot of potential and serious buyers to homes. Old Greenwich continues to be in demand, with a 44% increase in sales in September compared to last year. Updated homes and walkability factors continue to be high preference considerations by purchasers,” stated Joann Erb, 2016 president of the GAR.
