GREENWICH, Conn., April 20, 2017 /PRNewswire/ -- The Greenwich Association of REALTORS® announces the statistics for home sales in The Town of Greenwich, CT for the month of March 2017.
There were 53 single-family residential closings reported during this period according to figures provided by The Greenwich Multiple Listing Service, Inc., the multiple listing service used by REALTORS® in the Greenwich area.
The number of single-family residential closings increased by 82% compared to March 2016 when there were 29 closings. The median sale price for a single-family home increased by 6% to $1,900,000 from $1,795,000 the median sales price in March 2016.
The average days on the market (DOM) for residential homes was 268 days, which was an increase from 187 days in March 2016.
"This year began with fewer active listings than in past years and the number of new listings in 2017 is less than the year-to-date in 2016. With pent up demand, you can see that houses that have been on the market for a while have sold. This spring is going to be a strong market. Sellers should be prepared with clean, updated spaces if they want to compete for top-dollar multiple offers. Buyers should be ready with finances and offers in order to acquire their preferred homes. There have been 20 listings this year that have sold at or above list price, all below the $3 million price range. This range is very competitive and buyers should be ready to act quickly," stated BK Bates, 2017 President of the Greenwich Association of REALTORS.
The Greenwich Association of REALTORS® is the professional trade organization for the real estate industry in Greenwich. Established in 1924, the association provides professional development and services for REALTORS® and represents the concerns and interests of private property and home ownership rights. The association has over 850 members and is headquartered in Greenwich, CT.
SOURCE Greenwich Association of REALTORS