33 Open Houses in Greenwich Today from $370K to $10.7M

This week we have 33 open houses and 16 of them are under $1 million. Eight of the open houses are over $2 million and we even have 3 rentals. We have a good assortment of open houses in Old Greenwich and Riverside as well as several in Glenville.

Market Report

In the spring market lots of new listings come on the market. Sales are also slower in the winter with February being traditionally th slowest month of the year. Looks like that was the case in February. With inventory rising and sales at a low, months of supply naturally increase at this time of year and will decrease in April and May.

More sales coming in future months

The numbers, even though we are just two months into 2012, do show a couple of clear trends. First, if you look at the blue bars in the chart which represent actual sales and compare them to the red bars which represents sales plus pending contracts, in every case the red bar is lower indicating that sales will increase as the contracts mature into actual sales.

Lowest end gets very hot

If you want to buy one of the 19 single-family homes on the market under $600,000 you need to be ready to move fast. Greenwich only has a 4 months of supply in this price range based on sales and when you add in the 10 pending sales we are down to only 3 months of supply. The numbers always jump around at the beginning of the year, just look at sales in the next price range, $600,000 - $800,000 where we had only 1 sale so far, but 14 pending contracts and only 29 listings.

Sales under $2 million, particularly when you add in the 57 pending contracts, look good and are what is driving the market sales numbers. You can see this from the large percentage of open houses this week under $2 million.

High end continues slow

What you don't see on the chart above is the over $10 million price range. It's not there because the bar would literally be off the graph with 94 months of supply or almost 8 years. So far we've had only 1 sale in this price range, add in the 2 pending sales and months of supply drops in half to 49 months or only 4 years supply. It will take awhile to sell the 47 houses in this price range.

Interactive Map and List of Greenwich Open Houses

The list of open houses appears below with the market report. A color coded static map of the open houses  is above. You can see the interactive map here and find detailed instructions for its use here. If you mouse over any  pin on the map a box will pop-up with the address, time and price of the open house. If you click on a pin or on an address in the right column of the map a larger balloon will pop-up.