Last week we discussed the price per square foot metric.  One of the many reasons I decided to work for Houlihan Lawrence because of their research, statistics and reporting.  This is one of the reports I love the most.  This is just for the town of Greenwich (not including Riverside, Cos Cob or Old Greenwich).  This spells out the market better than most documents.  I can run this query based on your customized search if you would like as well.  However, for Greenwich, one can see the listings are up 7%, and the pending properties are up 4% while the sold properties are up 3% but the median sold price is up 20%.

Greenwich Overview

  In regards to price per square foot, I feel this is the best tool to look at.  Again, I can customize these, but for the point of this newsletter this is the analysis on the active properties in all of Riverside.

Riverside Active

Conversely, here are the numbers for the sold in Riverside:

Riverside Sold

As discussed over the summer we felt there would be an influx of inventory.  the market did not disappoint over the last two weeks as we currently have 714 properties for sale, up 40 from just two weeks ago.

In the amount of transactions August what was not disappointing which is a good sign.  Actually, we had the same amount (92) in August of 2013 as we did in 2014. This is the first month in a while that has not been below last year, which is a great sign.

If you look at the months on average to sell through the inventory I believe it best shows the market.  I have done two reports, one based on last year's activity and one based on this year's activity.  You will see that across the board the months on average are down year to date, which may seem counter intuitive if I am saying that the transactions are down.  However, the end of July is typical when the least amount of inventory is out there, due to being past the spring market and before the fall market.  Hence, when you compare it to the chart with the 2013 activity you see that the months on average are higher.

I have invested in my own MLS Search for my readers.  This will give access to a lot of the listing information I have.  Also, if I have already set you up with your personal portal, you will now be able to search your own searches outside of what I set up for you.  Feel free to test out and search properties.  I feel the best attribute is that you can save your own search and choose to get alerts as new properties come on to the market, properties are sold, or change in price.  All specific to your customized search.  Hence, you will speed up your learning curve, becoming an expert in the specific market you care about.

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 still cannot seem to catch up to last years number of transactions.  The year started off hot, and has since dwindled.  We are down 10-15% every month the last few months.  However, this month we at least equaled the amount as last year.

New Listings

We had 62 new listings last month as you can see sill higher than last year but on par with the few years before that.