Greenwich Market Action Report March 2014 - Charles Nedder

    Greenwich Market Action Report March 2014

Coldwell Banker Greenwich Fine Properties

  Median List Price Up - Median Sales Price Down

Property Sales

March Property sales were 7, down -30.0% from 10 in March of 2013 and equal to 0.0% 7 sales last month. March 2014 sales were at their lowest level compared to March of 2013 and 2012. March YTD sales of 28 are running equal to last year's year-to-date sales of 28.

Prices

The Median Sales Price in March was $2,100,000, up 7.8% from $1,947,500 in March of 2013 and down -3.2% from $2,169,115 last month. The Average Sales Price in March was $1,947,857, down -41.6% from $3,334,250 in March of 2013 and down -22.3% from $2,508,416 last month. March 2014 ASP was at the lowest level compared to March of 2013 and 2012.

Market Time

The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for March was 159, down -45.7% from 293 days last month and down -29.3% from 225 days in March of last year. The March 2014 DOM was at its lowest level compared with March of 2013 and 2012.

Selling Price per Square Foot

The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The March 2014 Selling Price per Square Foot of $505 was down -3.8% from $525 last month and down -10.3% from $563 in March of last year.

© 2014 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Coldwell Banker Residential Brokerage is operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Based on information from Greenwich Association of Realtors, Inc. for the period 1/1/2004 through 3/31/2014. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS's may not reflect all real estate activity in the market.