I hope everyone enjoyed their long weekend. It looks as if we had a nice push in the last week of the month to make May of 2012 similar to May of 2011. The big test will be June as in 2011 this was by far the biggest month with 120 Single Family Homes and Condos selling. The good sign in the information below is that even with the number of properties closing in the last week we still have the same amount of properties in Executed Contract, Accepted Offer, and Contingent Contract. Hopefully pushing us to a strong June. Below, is more detail
I found an interesting article I thought I would share about how incredibly low interest rates are today.
5th Straight Week of Record Lows
The average sale price vs list price and average days on market were as follows for April:
Town %SP/LP AVG DOM AVG SP
Riverside 92.5 154 1.051M
Old Greenwich 92.9 137 1.823M
Greenwich 92 252 3.25M
Cos Cob 95 261 1.23M
Total 92.6 214 2.25M
The year to date as of May 22,2012 is as follows:
Town %SP/LP AVG DOM AVG SP
Riverside 93.4 129 1.87M
Old Greenwich 93.8 160 2.14M
Greenwich 90.6 230 2.691M
Cos Cob 93.8 227 1.27M
Total 92.1 198 2.262M
*All prices rounded up or down to nearest hundred thousand.
In May of 2011 there were 70 Single Family and Condos sold. 57 single family homes and 13 condos. In May of 2012 we had 67 Single Family and Condos sold. 56 single family homes and 11 condos. They were as follows:
$0-$500K= 4 properties
$500-$1M= 25 properties (1 at 500K)
$1M-$1.5M= 9 properties
$1.5M-$2M= 12 properties (1 at 1.5M)
$2M-$3M= 8 properties (1 at 2M)
$3M-$4M= 2 properties
$4m-$5m= 2 properties (1 at 4M)
$5m-$7.5M= 3 properties (5M)
$7.5M-$10M= 0 properties
$10M and up= 2 properties
With the big push of houses closing at the end of the month, we came extremely close to hitting the same numbers of May 2011.
In last week's newsletter we had 119 properties executed contract (meaning all contingencies have been met, awaiting close). As of today the first day of June we have 110, which is a great sign for June. They were as follows:
$0-$500K= 3 properties
$500-$1M= 24 properties
$1M-$1.5M= 20 properties
$1.5M-$2M= 17 properties (2 at 1.5M)
$2M-$3M= 19 properties
$3M-$4M= 13 properties
$4M-$5M= 4 properties
$5M-$7.5M= 4 properties
$7.5M-$10M= 2 properties
$10M+= 4 properties
*note executed prices are based on most current list price
We have had 117 accepted offers. The price ranges for the Accepted Offers and Contingent Contracts were as follows:
$0-$500K= 13 properties
$500-$1M= 52 properties
$1M-$1.5M= 15 properties
$1.5M-$2M= 12 properties
$2M-$3M= 10 properties
$3M-$4M= 6 properties
$4M-$5M= 3 properties
$5M-$7.5M= 2 properties
$7.5M-$10M= 1 property
$10M+= 2 properties
**All information from Greenwich MLS