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With Home Sales in Greenwich Strong, There Are 41 Open Houses [VIDEO]

House inventory is shrinking as sales continue to be strong in all price ranges.

 

We have 41 open houses this week in Greenwich, that literally can take you from one corner of town to another. If you were to go from 5 Candlelight Pl. in the southwest corner to 12 Cherry Blossom Ln. in northeast corner, it would be around a half-hour trip. (If you want to check it out just click on the pin on the interactive map and then on "Get Directions" in the pop-up balloon.)

You can find the list of Greenwich open houses below, see this week’s interactive map here and find detailed instructions for its use here.

Greenwich CT Real Estate Market Report for July

July Sales on track

July 2012 has been a good month for sales in Greenwich. Based on Greenwich MLS numbers, there were 63 homes sold so far this month, 21 of them just in the past week. We are well above for sales in July 2011 and should be slightly above the July sales average for the last 5 years when all the results are in from the Greenwich Town Clerk.

Inventory shrinking seasonally

We also have 37 contracts or accepted offers pending and only 16 new listings. As a result inventory has shrunk to 553 homes. This is as it should be this time as year as the new listings that came on the market in the spring are sold. The median number of days on the market is 120, so half the houses are sold in a little less than 4 months.

Median price drops slightly reflecting very busy under $1MM market

So far this year, 313 single-family homes have sold with a median price of $1.6 million. This is down slightly from last year but reflects more the increased number of sales under $1 million and slower sales above $4 million rather than a drop in individual home prices. Fortunately, as mentioned in last week's market report July has seen a good number of sales over $2 million.

Low ball bidding generally a bad idea with a 94% SP/LP ratio in Greenwich

So far in 2012 Greenwich homes sold for 93.4% of their final list price. With 9% selling at or above list price. Even when you look at the lowest 10 percentile of the sales price to list price ratio, the ratio is still 85.8% of list price.

Starting out with an extraordinarly low bid in most cases is not going to get a buyer the best price and often will result in no counter bid at all from the seller. The buyer is then left to either terminate negotiations or to bid against themselves.

 

 

 

GREENWICH OPEN HOUSE LIST FOR JULY 29, 2012

 

Address Town List Price
Open House Time Broker 21 Cat Rock Rd Cos Cob $8,000
1-3 PM Coldwell Bnkr 68 Lockwood Rd Riverside $8,500
1-4 PM Prudential 9 S End Ct Old Greenwich $9,000
2-5 PM Raveis 1465 E Putnam Av #530 Old Greenwich $405,000
2-4 PM Coldwell Bnkr 75 Cos Cob Ave #2 Cos Cob $429,000
1-3 PM Higgins Grp 1465 E Putnam Av #317 Old Greenwich $459,000
2-4 PM Greenwich Fine Prop 9 River Rd #405 Cos Cob $469,000
1-3 PM Raveis 11 Orchard St Cos Cob $599,000
1-4 PM Prudential 60 Valley Rd #A Cos Cob $645,000
2-4 PM Raveis 230 Valley Rd Cos Cob $685,000
2-4 PM Raveis 230 Valley Rd Cos Cob $685,000
2-4 PM Raveis 51 Forest Ave #156 Old Greenwich $695,000
1-4 PM FF Realty 71 Orchard Pl #B Greenwich $1,074,999
1-3 PM Coldwell Bnkr 25 Griffith Rd Riverside $1,149,000
2-4 PM Raveis 12 Cherry Blossom Ln - Lot 3 Greenwich $1,595,000
2-4 PM Coldwell Bnkr 8 Cherry Blossom Ln Lot 2 Greenwich $1,595,000
2-4 PM Coldwell Bnkr 16 Norton Ln Old Greenwich $1,595,000
2-4 PM Raveis 21 Cat Rock Rd Cos Cob $1,649,000
1-3 PM Coldwell Bnkr 68 Lockwood Rd Riverside $1,729,000
1-4 PM Prudential 65 Lockwood Ln Riverside $1,769,000
1-4 PM Prudential 16 Manor Rd Old Greenwich $1,795,000
1-4 PM Prudential 7 Cherry Blossom Ln Lot 5 Greenwich $1,995,000
2-4 PM Coldwell Bnkr 9 S End Ct Old Greenwich $1,999,000
2-5 PM Raveis 106 Porchuck Rd Greenwich $2,199,000
2-4 PM Coldwell Bnkr 284 Riversville Rd Greenwich $2,395,000
1-3 PM Raveis 85 Dingletown Rd Greenwich $2,450,000
2-4 PM Ogilvy 17 Candlelight Pl Greenwich $2,500,000
1-3 PM Prudential 75 Connecticut Av Greenwich $2,649,000
1-4 PM Raveis 30 Sherwood Ave Greenwich $2,750,000
1-3 PM Prudential 20 Stoney Ridge Ln Riverside $2,849,000
2-4 PM Shore &Cntry 39 Shore Rd Old Greenwich $2,895,000
1-3 PM Real Living 1 Tyler Ln Riverside $3,190,000
2-4 PM Weichert 530 North St Greenwich $3,195,000
1-4 PM Raveis 25 Windabout Dr Greenwich $3,295,000
2-4 PM Coldwell Bnkr 38 Meadowbank Rd Old Greenwich $3,300,000
1-3 PM Raveis 36 Montgomery Ln Greenwich $3,595,000
2-4 PM Summit 3 Cherry Blossom Ln Greenwich $4,990,000
2-4 PM Coldwell Bnkr 504 North St Greenwich $6,850,000
1-3 PM Coldwell Bnkr

 

 

Thanks to Rob Pulitano for preparing the list and interactive map. You can reach him at 203-561-8092.

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