We are continually seeing more properties come on to the market than are being sold.  For example last week, we had twenty nine new listings.  Yet, only fourteen properties closed.  Now, realize that the closed properties typically take thirty to sixty days to meet contingencies and go through contracts.  So, a more up to date barometer would be AOCTS (Accepted Offer Continue to Show).

We only had eleven of those last week, much less than the twenty nine new properties.  Hence, although our sold numbers are slowly moving up from years past, my personal opinion is the market will not start to show improvement until the solds, or AOCTS outpace the new listings.

This weekend is supposed to be beautiful out and with the colors of the leaves changing, it will be a great day for touring open houses.  As always, if you have a house in mind you would like to see, please do not hesitate to call.  I would also like to thank Mark Pruner for mentioning me in the Greenwich Patch.  

Please let me know if you would like me to provide customized information or statistics for you based on your criteria.

 **The information on the featured property and all statistical information is from the Greenwich MLS.

 **All opinions garnered from the statistics are my own

 We have passed 2011 sold numbers for October.  However, we are seeing the same trend, even with the 14 sold last week, there were 29 new listings.

 New Listings

We have had 29 new listings so far this month, which puts us up to 63 for the month.  It is looking like next week we could pass the numbers for 2011.

  Year to Date Sold

 

The biggest jump in houses this week was the seven that sold in the 500K-$1M range.  This made a 1% change in that category.

Year to Date Available

  

 

Even though it did not show in the above chart we had the current available properties in the $4M-$5M range drop to 45 from 51, a more than ten percent drop in inventory.  As you will see below the $4M-$5M range is the only range that dropped this week and it dropped an astounding six weeks.

 In an effort to define the different markets as a good time to buy or sale I believe one needs to look at the months on average it would take to sell through the inventory we have.  We are currently 42 weeks through the year. In the $0-$500K range we have 7.81 months on average to sell through. $500K-$1M  we have 6.34 months.  In the $1M-$1.5M we have 10.8 months. $1.5M-$2M we have 8.96 months.  $2M-$3M we have 12.25 months, a gain of a month.  $3M-$4M we have 18.43 weeks a gain of a month $4M-$5M we have 24.21 months, a drop of six weeks. $5M-$7.5M we have 24 months. $7.5-$10M we have 35.5 months providing a drop of one month.  $10M and above we have 40.5months.   

Below are all of the Greenwich Open Houses for Sunday.  If you click on the link it will take you to the listing.  It should be a beautiful weekend, so enjoy.  The first five on the list are for rent.