Not all sellers are catching on and pricing right. Those sellers who do price right are able to sell. Savvy buyers are getting pretty good deals if they are educated on the market, patient and know when to act. Realistic home sellers are securing deals on their homes as long as they are pricing at or below market value. Buyers are making offers that take a downturn into account.
Greenwich, (including Cos Cob, Riverside and Old Greenwich) is holding up in price appreciation but number of sales year to date is down about 34%. The last seven months has seen a downward trend in overall number of sales per month. The not so good new is that inventory levels rose last month. While we may still be up in appreciation year end, the trend is clearly pointing to a change. If the trend continues, we may be looking at less optimistic numbers in the coming months.
The number of days on the market is increasing, up almost 30 days over last year.
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