Sales volume of single family homes in Greenwich was up 31% in the month of August compared to the same period last year. Eight sales in excess of $5 million drove the average price up 49%. There were 57 single family closings in August this year as compared to 65 in August of last year accordingly to the Greenwich MLS.
The average single family sales price of $2,775,000 soared above the average sales price last August of $1,857,000. The median average price was up 23% to $1,994,000. The higher average sale price was supported, in part, by a $13 million sale on Meadowcroft Lane in Greenwich and $9 million sale on Hendrie Drive Extension in Old Greenwich. An additional six sales in excess of $5 million lifted spirits even though the number of sales was down 12% to 57 sales in the month of August. August Closings (contact me for access to report). Condominium sales were relatively flat.
A peak into September extends confidence in the luxury market with the closing of a $22 million estate on North Street, a full $2 million above asking price. A $7 million sale on Round Hill Road echoes the luxury investment in Greenwich.
This Sunday marks the beginning of the Autumn Selling Season and with 121 Open Houses. Greenwich is ready to transact.