Presidents' Day Weekend Reduces Open Houses in Greenwich

One of the reason February is traditionally the slowest month in Greenwich real estate is the number of holidays. This weekend we have Presidents' Day on Monday and both public and private schools are closed. As a result we only have 12 open houses ranging in price from $359,000 to $6,950,000, and there aren't any houses listed between $1 and $2 million. For those folks that are interested in going out this Sunday, we have some good options and new listings.

Interactive Map and List of Greenwich Open Houses

The list of open houses is 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.

Greenwich Real Estate Market Report:

Sales Poor So Far in February

Real Estate sales in February 2012 in Greenwich have been poor. No condos or co-ops have been sold so far this month and we have only 10 single family homes sold so far. The average number of houses sales for February over the last 6 years is 28 sales so we have a ways to go, but this is only part of the story. Contracts for sales are the hidden leviathan. 

Condo Contracts Looking Good

We have 21 condos and co-ops that have either an accepted offer, contingent contract or executed contract all heading to closing. The prices were the condos cover the full range. One-third of the contracts are under $500,000, one-third are more than $2.5 million and the other third are between $500,000 and $2.5 million. Four of the units had been on for more than a year, one for more than 3 years. At the other end several units 2 units were on the market for less than a month. 

 Single Family Home Contracts Outstanding

As of Friday morning the Greenwich MLS was reporting 83-single family homes in Greenwich with accepted offers, contingent contracts or executed contracts. Average sales for March and April are only 46 homes each month so we should be seeing sales up over the next couple of months. 

Of the 83 pending home sales, 32 are under $1 million continuing the trend of busy sales in this market segment. My listing at 16 Pierce, which closes next month, had 7 offers. Many of the buyers are still making low ball offers and are surprised when the seller doesn't even counter. 

32 of the pending sales are between $1 million and $2.5 million. Even the high end is showing life in 2012. Two of the 10 sales are for $6.4 million and we have 6 more sales pending with list prices over $5 million. 545 Indian Field Rd. has a contingent contract with a list price of $12.9 million. 

OPEN HOUSE LIST