The number of Greenwich single family home sales is off 7% over the prior twelve months with most of the weakness in the well reported soft luxury market. Although it is important to wait until the peak Spring selling season settles pending sales before reflecting on the season in general, the good news is the sales are up in the $3 million to $4 million range, with 32 more sales pending in the $2.0 to $4.0 range. Sales are also up to a minor but encouraging degree in the $1.5 million to $2.0 million range. Strength continues for the less than $1 million price tag. There is softness in the $1.0 million to $1.5 million range, but weakness in that price range may be due to functionally obsolete inventory or awkward, harder to sell, lots rather than a lack of demand.
There are 57 Open Houses in Greenwich on Sunday. July 31, 2016 {Contact me for access to my Open House Reports).
Personal Note
If you are enjoying my weekly reports, please consider contacting me several months prior to listing your property for sale or recommend me to your friends considering a move!
Happy Summer!
