Year to date Sales of Single family homes are down 35% The average price dropped for the first time this year and is 4.4% below last year. The average days on the market for homes that have sold this year are 139 up from 103. The list price to sold price ratio is 94% for homes that have sold this year. The inventory is down about 3% from last year Absorbation rate is 10 months-It will take 10 months to sell the homes on the market at the current rate of absorbtion. Greenwich typically runs 5 months or less. July numbers were as follows: Sales Down 30% from last July Average Price Down 6% from last July Days on market 24% longer than last July Contracts were down 57.5% from last July Inventory was up 47.6% from last July. The rise in inventory is concerning for home sellers. Much more competition in a declining sales environment will make it much more difficult and even more essential to look better than all the competition. August are as follows: Sales Down from last August 30% Average Price Down 34% from last August (some high end sales last August) Inventory was down 14% from last August
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