Dwindling Housing Inventory in Greenwich; 25 Open Houses for Dec. 9

Below $1M many buyers few houses ** Inventory at lowest level of the year ** Open Houses from $389K to $5.5M

Posted by Mark Pruner, December 9, 2012 at 03:58 pm

This week we have 25 open houses with prices ranging from $389,500 for a condo in Old Greenwich to a $5.5M house on North Street. You can see the interactive map of the open houses with directions, aerial images and lot lines here.

The open house list below is courtesy of Rob Pulitano whose website is at www.greenwichrealestatepro.com. The hot links are courtesy of Jared Randall whose site has lots of useful info and analysis also.

MARKET REPORT

We are down to 446 single family homes on the market and many of these are listing queens that aren’t priced to today's market so the real inventory is even lower. This is the lowest inventory we have had all year. In May you had your choice of 621 houses.

From $600,000 to $800,000 we only have 2.6 months of supply. It’s a seller’s market. The story at the upper end is getting better than the first half of the market, but it’s still slow.

We continue to have 3 markets. Up to $1 million, you need to be pre-approved and even better, have the cash. Multiple bids for well-priced properties are becoming more and more frequent. In the $1 million to $3 million range, it is a good market fairly evenly balanced unless you are are in Old Greenwich or Riverside. Over $3 million, buyers have some really good options on some really great houses.

If you are out and about on Sunday I’ve great a great listing on 18 Annjim Rd., a quiet cul-de-sac just off lower Stanwich Road. This house will be “Accepted Offer” by Tuesday so it will be the only open house. Besides, we have cookies. Hope to see you there.

OPEN HOUSE LIST

Address

Town

List Price

Time

Broker

127 Havemeyer Pl.

Greenwich

$11K

1-3 PM

Raveis

1535 E Putnam Ave. #402