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Happy Memorial Day. I hope everyone spends it with their loved ones and enjoys the long weekend.
While April 2020 was the first entire month in the - new at the time - COVID-19 grip the sales data from it don't necessarily capture pandemic buying patterns as it was simply too soon for closings to happen, in most cases.
Here is a look at preliminary April 2021 Greater Greenwich single family home sales and how they compare to April 2020, per GMLS data:
- 84 homes sold in April 2021, a 147% increase over the 34 that sold in April last year.
- Average DOM contracted to 145 days from 300 days a year ago.
- Homes sold at 96% of original list price, up from 88% last year.
- Homes sold at 98% of last asking price, up from 94% last year.
- Average sold price per square foot was $629 in April, up 36% from last year ($461).
- Average sold price in April was $3,089,412, up 68% from last April's $1,841,403.
- Median sold price in April was $2,666,875, up 54% from last April's $1,733,500.
- Total $$ volume in April was $259,510,650 vs. $62,607,726 in April 2020.
- There are 342 homes for sale in Greater Greenwich today, a 33% decline vs. last year.
- There are 142 homes in contract vs. 94 a year ago, a 142% increase.
While I have been hearing increasing reports of deals falling apart the demand still seems to be firmly in place for realistically priced homes.
With the lack of inventory and the buyer demand increasing I believe these numbers will continue to increase. Remember that the first four months of last year the world came to a standstill so just about all of the increase has happened in last 6-8 months. The difficulty of writing a blog is how to give customized data for over 500 readers. That being said if you would like specific or customized data to your location or specific house please do not hesitate to email or call.
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Jared Randall
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