After a strong first quarter, April took a pause. In townwide Greenwich, including Cos Cob, Riverside and Old Greenwich, there were 30 closings as compared to 38 in April last year, and there were 128 new listings, 23% fewer than last year. Rentals were also down marginally to 78 from 86 last year. There are 716 active listings in Greenwich, down 9% over last year. Houses under contract are also down. That said, the first week of May there were 19 closings, including 6 over $3 million. April Closings Report (click link) *
We know from experience that weekly and monthly activity can look like a yo-yo, and that longer term periods are necessary for trend analysis. While we need to keep track of vital signs, it’s important not to overanalyze with a zoom lense but rather take the big picture into account, just like we do when looking at individual properties.
There are 100 open houses on Sunday. May 7, 2017 Open House Report *
Sotheby’s International Realty Greenwich Market 2017Q1 Report. *
*In order to obtain access to reports, contact me.