Spring Market

Residential home sales are picking up in line with the Spring Market. Not only does the market feel a lot busier to agents, but there is conversion into pending and closed sales, particularly at the lower end of the market as demand continues for Greenwich. Greenwich has enjoyed 83 pending residential home sales year-to-date (YTD), including single family, condominiums and cooperatives.

The under $800,000 price range constitutes 28% of the market demonstrating a good pace for condominiums and cooperatives. In the next two brackets there have been an additional 25 pending sales for a total 62% market share by number of sales under $1.5 million. The $3 million price range is also seeing some movement, while the $2 million price range retains a fair amount of inventory.

Pending sales include those homes under contract with no contingencies and is a leading indicator of future sales. Closing dates can vary, so pending sales from earlier in the year will have closed.

This Sunday there are 73 Open Houses.

Do reach out to me with any questions.

Warmly,
Mary-Stuart G Freydberg
20 years professional real estate advice
Mary Stuart G Freydberg, Sotheby's International Realty
SIR Web Signature Block

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