Market Report
Q3-2023
GREENWICH
The third quarter of 2023 was marked by a scarcity of available properties in Greenwich, Connecticut, perpetuating at or near record low inventory levels.
Townwide, the average list-to-sale price ratio remains narrowly below 100%, reflecting intense buyer competition in most price categories. Homes spent the lowest amount of time on the market in years, attributed to ready, willing, and able buyers and a large percentage of cash purchases. Consequently, both sales and pending contracts experienced declines due to inventory constraints.
Among the highlights in the market, home sales at the high-end are a bright spot with year-over-year gains in both contracts and closings. Cos Cob and Old Greenwich both achieved list-to sale prices above 100% in the quarter while Old Greenwich had the shortest days on market of any neighborhood in town.
While overall demand might suggest otherwise, buyers remain discerning. Accurate pricing remains critical as overly inflated prices can cause homes to be overlooked and lead to seller disappointment.
We anticipate buyer demand to continue with given how much Greenwich offers from housing to recreation, schools, culture, and more. It remains an opportune time to sell here and we are grateful to our clients and community for continuing to choose Houlihan Lawrence year after year.
With Warm Regards,
Liz Nunan President and CEO
GREENWICH, CT · $10,750,000
Ultra chic soon
Kristy de la Sierra | M (203) 526-6007
Ellen Mosher | M (203) 705-9680
203.869.0700 · 203.698.1234 · HOULIHANLAWRENCE.COM @AROUNDGREENWICH @AROUNDGREENWICH /GREENWICHCTREALESTATE
to-be-built new construction by Kaali-Nagy with pool on 1.55 gated acres.
Q3-2023 MARKET
REPORT
Source: 1/1/23 – 9/30/23, total sales both on and off MLS.
TABLE OF CONTENTS
QUARTER 2023 GREATER GREENWICH SingleFamilyHomeOverview GREENWICH NorthoftheParkway GREENWICH SouthoftheParkway GREENWICH SouthofthePostRoad COS COB RIVERSIDE OLD GREENWICH GREATER GREENWICH CondominiumOverview HOULIHANLAWRENCE.COM
THIRD
QUARTERLY MARKET OVERVIEW
TEN-YEAR MARKET HISTORY
* Homes sold for 2023 are annualized based on actual sales year-to-date.
GREATER GREENWICH
Q3 2023 Q3 2022 % CHANGE YTD 2023 YTD 2022 % CHANGE HOMES SOLD 166 204 -18.6% 418 536 -22.0% AVERAGE SALE PRICE $4,387,538 $3,130,538 40.2% $3,637,602 $3,107,980 17.0% MEDIAN SALE PRICE $2,502,500 $2,411,250 3.8% $2,533,750 $2,487,500 1.9% AVERAGE PRICE PER SQUARE FOOT $842 $717 17.4% $755 $694 8.8% AVERAGE DAYS ON MARKET 87 58 50.0% 84 79 6.3% % SALE PRICE TO LIST PRICE 96.9% 100.5% -3.6% 97.7% 99.8% -2.1%
Average Sale Price $2,688,907 $2,421,486 $2,203,756 $2,574,993 $2,393,006 $2,376,330 $2,667,708 $3,005,642 $3,050,065 $3,637,602 Average Sale Price Average Price/SqFt $611 $592 $564 $578 $563 $545 $557 $635 $696 $755 Average Price/SqFt Days On Market 155 161 157 183 179 199 171 109 76 84 Days On Market %Sale Price to List Price 93.7 94.4 94.1 92.5 93.7 92.4 94.4 97.4 99.7 97.7 %Sale Price to List Price
SUPPLY DEMAND ANALYSIS
SOLD PROPERTIES
GREATER GREENWICH
AS OF SEPTEMBER 30, 2023 AS OF SEPTEMBER 30, 2022 2023 vs. 2022 PRICE RANGE SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* % CHANGE IN LISTINGS % CHANGE IN PENDINGS $0 - $999,999 6 12 1 12 4 3 -50.0% 200.0% $1,000,000 - $1,999,999 17 15 1 43 11 4 -60.5% 36.4% $2,000,000 - $2,999,999 23 7 3 37 18 2 -37.8% -61.1% $3,000,000 - $3,999,999 15 7 2 26 12 2 -42.3% -41.7% $4,000,000 - $4,999,999 15 11 1 30 5 6 -50.0% 120.0% $5,000,000 - $5,999,999 17 6 3 18 7 3 -5.6% -14.3% $6,000,000 - $7,999,999 12 6 2 14 9 2 -14.3% -33.3% $8,000,000 - $9,999,999 9 4 2 11 1 11 -18.2% 300.0% $10,000,000 and up 22 5 4 33 0 Not Valid -33.3% 0.0% MarketTotals 136 73 2 224 67 3 -39.3% 9.0% *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
YEAR-TO-DATE YEAR-OVER-YEAR 01/01/202309/30/2023 01/01/202209/30/2022 % CHANGE 2023/2022 10/01/202209/30/2023 10/01/202109/30/2022 % CHANGE 2023/2022 $0 - $999,999 41 53 -22.6% 50 73 -31.5% $1,000,000 - $1,999,999 110 153 -28.1% 140 208 -32.7% $2,000,000 - $2,999,999 96 116 -17.2% 129 157 -17.8% $3,000,000 - $3,999,999 50 70 -28.6% 61 90 -32.2% $4,000,000 - $4,999,999 47 57 -17.5% 53 69 -23.2% $5,000,000 - $5,999,999 28 36 -22.2% 34 44 -22.7% $6,000,000 - $7,999,999 24 32 -25.0% 27 40 -32.5% $8,000,000 - $9,999,999 12 11 9.1% 14 15 -6.7% $10,000,000 and up 10 8 25.0% 11 12 -8.3% MarketTotals 418 536 -22.0% 519 708 -26.7%
Source: Greenwich Multiple Listing Service, Single-family homes
QUARTERLY MARKET OVERVIEW
NORTH OF THE PARKWAY
TEN-YEAR MARKET HISTORY
* Homes sold for 2023 are annualized based on actual sales year-to-date.
GREENWICH
Q3 2023 Q3 2022 % CHANGE YTD 2023 YTD 2022 % CHANGE HOMES SOLD 12 25 -52.0% 47 63 -25.4% AVERAGE SALE PRICE $5,989,708 $3,689,278 62.4% $5,085,013 $3,605,774 41.0% MEDIAN SALE PRICE $4,068,750 $3,185,811 27.7% $4,100,000 $2,975,000 37.8% AVERAGE PRICE PER SQUARE FOOT $711 $631 12.7% $651 $606 7.4% AVERAGE DAYS ON MARKET 178 114 56.1% 180 111 62.2% % SALE PRICE TO LIST PRICE 91.7% 97.1% -5.6% 93.4% 96.6% -3.3%
Average Sale Price $4,136,921 $2,834,463 $2,939,222 $3,590,745 $3,264,086 $3,156,247 $2,851,219 $3,919,488 $3,494,702 $5,085,013 Average Sale Price Average Price/SqFt $559 $524 $470 $501 $495 $503 $455 $553 $596 $651 Average Price/SqFt Days On Market 321 250 237 310 210 251 231 167 102 180 Days On Market %Sale Price to List Price 90.5 92.7 91.8 85.7 91.9 90.1 94.2 96.5 97.3 93.4 %Sale Price to List Price
SUPPLY DEMAND ANALYSIS
GREENWICH
NORTH OF THE PARKWAY
AS OF SEPTEMBER 30, 2023 AS OF SEPTEMBER 30, 2022 2023 vs. 2022 PRICE RANGE SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* % CHANGE IN LISTINGS % CHANGE IN PENDINGS $0 - $999,999 0 0 Not Valid 0 1 0 0.0% -100.0% $1,000,000 - $1,999,999 3 1 3 5 1 5 -40.0% 0.0% $2,000,000 - $2,999,999 4 2 2 8 1 8 -50.0% 100.0% $3,000,000 - $3,999,999 2 0 Not Valid 6 2 3 -66.7% -100.0% $4,000,000 - $4,999,999 4 0 Not Valid 13 0 Not Valid -69.2% 0.0% $5,000,000 - $5,999,999 6 3 2 3 0 Not Valid 100.0% 0.0% $6,000,000 - $7,999,999 4 0 Not Valid 5 1 5 -20.0% -100.0% $8,000,000 - $9,999,999 5 2 3 6 0 Not Valid -16.7% 0.0% $10,000,000 and up 4 1 4 12 0 Not Valid -66.7% 0.0% MarketTotals 32 9 4 58 6 10 -44.8% 50.0% *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand SOLD PROPERTIES YEAR-TO-DATE YEAR-OVER-YEAR 01/01/202309/30/2023 01/01/202209/30/2022 % CHANGE 2023/2022 10/01/202209/30/2023 10/01/202109/30/2022 % CHANGE 2023/2022 $0 - $999,999 1 1 0.0% 1 3 -66.7% $1,000,000 - $1,999,999 8 15 -46.7% 11 18 -38.9% $2,000,000 - $2,999,999 7 16 -56.3% 13 18 -27.8% $3,000,000 - $3,999,999 7 11 -36.4% 10 15 -33.3% $4,000,000 - $4,999,999 9 7 28.6% 9 9 0.0% $5,000,000 - $5,999,999 3 4 -25.0% 3 6 -50.0% $6,000,000 - $7,999,999 5 8 -37.5% 5 8 -37.5% $8,000,000 - $9,999,999 4 0 Not Valid 5 1 400.0% $10,000,000 and up 3 1 200.0% 3 1 200.0% MarketTotals 47 63 -25.4% 60 79 -24.1%
Source: Greenwich Multiple Listing Service, Single-family homes
QUARTERLY MARKET OVERVIEW
SOUTH OF THE PARKWAY
TEN-YEAR MARKET HISTORY
* Homes sold for 2023 are annualized based on actual sales year-to-date.
GREENWICH
Q3 2023 Q3 2022 % CHANGE YTD 2023 YTD 2022 % CHANGE HOMES SOLD 63 70 -10.0% 154 193 -20.2% AVERAGE SALE PRICE $3,703,215 $3,817,764 -3.0% $3,785,476 $3,772,849 0.3% MEDIAN SALE PRICE $3,250,000 $3,197,500 1.6% $3,376,250 $3,249,300 3.9% AVERAGE PRICE PER SQUARE FOOT $712 $698 2.0% $685 $674 1.6% AVERAGE DAYS ON MARKET 104 74 40.5% 87 99 -12.1% % SALE PRICE TO LIST PRICE 100.0% 100.1% -0.1% 98.8% 99.1% -0.3%
Average Sale Price $2,698,854 $3,075,190 $2,403,016 $2,769,791 $2,670,378 $2,537,605 $2,941,272 $3,212,533 $3,634,903 $3,785,476 Average Sale Price Average Price/SqFt $567 $587 $535 $550 $537 $499 $530 $596 $674 $685 Average Price/SqFt Days On Market 171 167 176 203 188 234 197 126 94 87 Days On Market %Sale Price to List Price 93.8 93.7 94.0 93.0 92.8 91.9 94.9 97.0 98.9 98.8 %Sale Price to List Price
SUPPLY DEMAND ANALYSIS
SOUTH OF THE PARKWAY
GREENWICH
AS OF SEPTEMBER 30, 2023 AS OF SEPTEMBER 30, 2022 2023 vs. 2022 PRICE RANGE SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* % CHANGE IN LISTINGS % CHANGE IN PENDINGS $0 - $999,999 2 5 1 4 1 4 -50.0% 400.0% $1,000,000 - $1,999,999 7 6 1 12 5 2 -41.7% 20.0% $2,000,000 - $2,999,999 2 5 1 12 3 4 -83.3% 66.7% $3,000,000 - $3,999,999 9 1 9 8 5 2 12.5% -80.0% $4,000,000 - $4,999,999 7 6 1 13 2 7 -46.2% 200.0% $5,000,000 - $5,999,999 11 3 4 11 3 4 0.0% 0.0% $6,000,000 - $7,999,999 6 6 1 4 5 1 50.0% 20.0% $8,000,000 - $9,999,999 3 2 2 5 1 5 -40.0% 100.0% $10,000,000 and up 10 1 10 11 0 Not Valid -9.1% 0.0% MarketTotals 57 35 2 80 25 3 -28.8% 40.0% *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand SOLD PROPERTIES YEAR-TO-DATE YEAR-OVER-YEAR 01/01/202309/30/2023 01/01/202209/30/2022 % CHANGE 2023/2022 10/01/202209/30/2023 10/01/202109/30/2022 % CHANGE 2023/2022 $0 - $999,999 13 20 -35.0% 18 27 -33.3% $1,000,000 - $1,999,999 27 31 -12.9% 35 50 -30.0% $2,000,000 - $2,999,999 29 37 -21.6% 39 55 -29.1% $3,000,000 - $3,999,999 23 31 -25.8% 26 40 -35.0% $4,000,000 - $4,999,999 24 24 0.0% 27 29 -6.9% $5,000,000 - $5,999,999 14 19 -26.3% 16 20 -20.0% $6,000,000 - $7,999,999 14 17 -17.6% 14 20 -30.0% $8,000,000 - $9,999,999 7 9 -22.2% 8 11 -27.3% $10,000,000 and up 3 5 -40.0% 4 6 -33.3% MarketTotals 154 193 -20.2% 187 258 -27.5%
Source: Greenwich Multiple Listing Service, Single-family homes
QUARTERLY MARKET OVERVIEW
GREENWICH
SOUTH OF THE POST ROAD
TEN-YEAR MARKET HISTORY
* Homes sold for 2023 are annualized based on actual sales year-to-date.
Q3 2023 Q3 2022 % CHANGE YTD 2023 YTD 2022 % CHANGE HOMES SOLD 22 15 46.7% 43 53 -18.9% AVERAGE SALE PRICE $10,188,717 $3,757,800 171.1% $6,417,960 $3,209,018 100.0% MEDIAN SALE PRICE $1,931,000 $4,400,000 -56.1% $1,862,000 $2,410,000 -22.7% AVERAGE PRICE PER SQUARE FOOT $1,295 $768 68.6% $1,119 $712 57.2% AVERAGE DAYS ON MARKET 120 35 242.9% 94 92 2.2% % SALE PRICE TO LIST PRICE 91.3% 100.2% -8.9% 93.1% 100.2% -7.1%
Average Sale Price $4,083,817 $2,043,325 $2,545,622 $2,977,955 $2,371,594 $2,896,440 $3,458,830 $3,926,817 $3,288,974 $6,417,960 Average Sale Price Average Price/SqFt $726 $598 $623 $639 $666 $667 $676 $712 $752 $1,119 Average Price/SqFt Days On Market 165 172 133 141 208 211 181 137 85 94 Days On Market %Sale Price to List Price 93.4 96.2 92.3 91.5 94.5 92.6 91.1 95.6 99.6 93.1 %Sale Price to List Price
SOUTH OF THE POST ROAD
GREENWICH
AS OF SEPTEMBER 30, 2023 AS OF SEPTEMBER 30, 2022 2023 vs. 2022 PRICE RANGE SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* % CHANGE IN LISTINGS % CHANGE IN PENDINGS $0 - $999,999 4 3 1 2 1 2 100.0% 200.0% $1,000,000 - $1,999,999 2 0 Not Valid 4 0 Not Valid -50.0% 0.0% $2,000,000 - $2,999,999 6 0 Not Valid 6 2 3 0.0% -100.0% $3,000,000 - $3,999,999 2 2 1 3 1 3 -33.3% 100.0% $4,000,000 - $4,999,999 1 1 1 1 1 1 0.0% 0.0% $5,000,000 - $5,999,999 0 0 Not Valid 1 1 1 -100.0% -100.0% $6,000,000 - $7,999,999 2 0 Not Valid 5 3 2 -60.0% -100.0% $8,000,000 - $9,999,999 0 0 Not Valid 0 0 Not Valid 0.0% 0.0% $10,000,000 and up 6 2 3 8 0 Not Valid -25.0% 0.0% MarketTotals 23 8 3 30 9 3 -23.3% -11.1% *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand SOLD PROPERTIES YEAR-TO-DATE YEAR-OVER-YEAR 01/01/202309/30/2023 01/01/202209/30/2022 % CHANGE 2023/2022 10/01/202209/30/2023 10/01/202109/30/2022 % CHANGE 2023/2022 $0 - $999,999 13 11 18.2% 13 13 0.0% $1,000,000 - $1,999,999 9 10 -10.0% 13 14 -7.1% $2,000,000 - $2,999,999 6 7 -14.3% 8 11 -27.3% $3,000,000 - $3,999,999 2 4 -50.0% 2 6 -66.7% $4,000,000 - $4,999,999 4 8 -50.0% 5 10 -50.0% $5,000,000 - $5,999,999 3 9 -66.7% 5 10 -50.0% $6,000,000 - $7,999,999 2 2 0.0% 4 3 33.3% $8,000,000 - $9,999,999 1 1 0.0% 1 2 -50.0% $10,000,000 and up 3 1 200.0% 3 4 -25.0% MarketTotals 43 53 -18.9% 54 73 -26.0%
SUPPLY DEMAND ANALYSIS
Source: Greenwich Multiple Listing Service, Single-family homes
QUARTERLY MARKET OVERVIEW
COS COB
TEN-YEAR MARKET HISTORY
* Homes sold for 2023 are annualized based on actual sales year-to-date.
Q3 2023 Q3 2022 % CHANGE YTD 2023 YTD 2022 % CHANGE HOMES SOLD 25 19 31.6% 54 65 -16.9% AVERAGE SALE PRICE $1,964,162 $1,647,296 19.2% $1,791,319 $1,772,275 1.1% MEDIAN SALE PRICE $1,975,000 $1,600,000 23.4% $1,705,000 $1,595,000 6.9% AVERAGE PRICE PER SQUARE FOOT $623 $580 7.4% $599 $581 3.1% AVERAGE DAYS ON MARKET 63 49 28.6% 67 50 34.0% % SALE PRICE TO LIST PRICE 101.4% 99.2% 2.2% 101.8% 101.4% 0.4%
Average Sale Price $1,254,598 $1,365,294 $1,321,116 $1,331,751 $1,564,416 $1,248,246 $1,408,910 $1,645,808 $1,815,667 $1,791,319 Average Sale Price Average Price/SqFt $466 $506 $490 $456 $486 $436 $444 $532 $583 $599 Average Price/SqFt Days On Market 103 137 139 142 153 141 157 100 51 67 Days On Market %Sale Price to List Price 96.1 96.2 96.0 95.0 95.4 94.4 96.1 98.1 101.0 101.8 %Sale Price to List Price
SUPPLY DEMAND ANALYSIS
SOLD PROPERTIES
COS COB
AS OF SEPTEMBER 30, 2023 AS OF SEPTEMBER 30, 2022 2023 vs. 2022 PRICE RANGE SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* % CHANGE IN LISTINGS % CHANGE IN PENDINGS $0 - $999,999 0 1 0 3 0 Not Valid -100.0% 0.0% $1,000,000 - $1,999,999 3 6 1 15 0 Not Valid -80.0% 0.0% $2,000,000 - $2,999,999 3 0 Not Valid 2 2 1 50.0% -100.0% $3,000,000 - $3,999,999 1 0 Not Valid 1 1 1 0.0% -100.0% $4,000,000 - $4,999,999 0 0 Not Valid 0 0 Not Valid 0.0% 0.0% $5,000,000 - $5,999,999 0 0 Not Valid 0 0 Not Valid 0.0% 0.0% $6,000,000 - $7,999,999 0 0 Not Valid 0 0 Not Valid 0.0% 0.0% $8,000,000 - $9,999,999 0 0 Not Valid 0 0 Not Valid 0.0% 0.0% $10,000,000 and up 0 0 Not Valid 0 0 Not Valid 0.0% 0.0% MarketTotals 7 7 1 21 3 7 -66.7% 133.3% *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
YEAR-TO-DATE YEAR-OVER-YEAR 01/01/202309/30/2023 01/01/202209/30/2022 % CHANGE 2023/2022 10/01/202209/30/2023 10/01/202109/30/2022 % CHANGE 2023/2022 $0 - $999,999 8 10 -20.0% 9 15 -40.0% $1,000,000 - $1,999,999 29 34 -14.7% 36 46 -21.7% $2,000,000 - $2,999,999 14 16 -12.5% 16 18 -11.1% $3,000,000 - $3,999,999 1 4 -75.0% 2 5 -60.0% $4,000,000 - $4,999,999 2 1 100.0% 3 1 200.0% $5,000,000 - $5,999,999 0 0 Not Valid 0 0 Not Valid $6,000,000 - $7,999,999 0 0 Not Valid 0 0 Not Valid $8,000,000 - $9,999,999 0 0 Not Valid 0 0 Not Valid $10,000,000 and up 0 0 Not Valid 0 0 Not Valid MarketTotals 54 65 -16.9% 66 85 -22.4%
Source: Greenwich Multiple Listing Service, Single-family homes
QUARTERLY MARKET OVERVIEW
TEN-YEAR MARKET HISTORY
* Homes sold for 2023 are annualized based on actual sales year-to-date.
RIVERSIDE
Q3 2023 Q3 2022 % CHANGE YTD 2023 YTD 2022 % CHANGE HOMES SOLD 21 36 -41.7% 59 84 -29.8% AVERAGE SALE PRICE $3,501,285 $2,569,875 36.2% $2,980,520 $2,521,508 18.2% MEDIAN SALE PRICE $2,430,000 $1,927,500 26.1% $2,450,000 $2,034,000 20.5% AVERAGE PRICE PER SQUARE FOOT $879 $774 13.6% $798 $769 3.8% AVERAGE DAYS ON MARKET 37 38 -2.6% 46 53 -13.2% % SALE PRICE TO LIST PRICE 99.2% 102.0% -2.7% 101.2% 102.1% -0.9%
Average Sale Price $2,000,919 $2,275,811 $2,121,616 $2,371,435 $2,353,592 $1,945,173 $2,587,852 $2,614,485 $2,507,628 $2,980,520 Average Sale Price Average Price/SqFt $599 $634 $601 $619 $595 $542 $618 $678 $757 $798 Average Price/SqFt Days On Market 107 122 138 147 168 180 125 75 54 46 Days On Market %Sale Price to List Price 96.6 94.6 93.9 94.7 94.9 94.1 94.3 99.7 102.0 101.2 %Sale Price to List Price
SUPPLY DEMAND ANALYSIS
SOLD PROPERTIES
RIVERSIDE
AS OF SEPTEMBER 30, 2023 AS OF SEPTEMBER 30, 2022 2023 vs. 2022 PRICE RANGE SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* % CHANGE IN LISTINGS % CHANGE IN PENDINGS $0 - $999,999 0 2 0 2 1 2 -100.0% 100.0% $1,000,000 - $1,999,999 2 1 2 2 2 1 0.0% -50.0% $2,000,000 - $2,999,999 6 0 Not Valid 6 6 1 0.0% -100.0% $3,000,000 - $3,999,999 0 0 Not Valid 5 1 5 -100.0% -100.0% $4,000,000 - $4,999,999 0 3 0 2 2 1 -100.0% 50.0% $5,000,000 - $5,999,999 0 0 Not Valid 1 2 1 -100.0% -100.0% $6,000,000 - $7,999,999 0 0 Not Valid 0 0 Not Valid 0.0% 0.0% $8,000,000 - $9,999,999 0 0 Not Valid 0 0 Not Valid 0.0% 0.0% $10,000,000 and up 1 1 1 1 0 Not Valid 0.0% 0.0% MarketTotals 9 7 1 19 14 1 -52.6% -50.0% *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
YEAR-TO-DATE YEAR-OVER-YEAR 01/01/202309/30/2023 01/01/202209/30/2022 % CHANGE 2023/2022 10/01/202209/30/2023 10/01/202109/30/2022 % CHANGE 2023/2022 $0 - $999,999 1 7 -85.7% 4 10 -60.0% $1,000,000 - $1,999,999 15 34 -55.9% 19 40 -52.5% $2,000,000 - $2,999,999 21 18 16.7% 29 22 31.8% $3,000,000 - $3,999,999 10 12 -16.7% 12 14 -14.3% $4,000,000 - $4,999,999 5 9 -44.4% 6 11 -45.5% $5,000,000 - $5,999,999 5 2 150.0% 6 6 0.0% $6,000,000 - $7,999,999 1 1 0.0% 2 2 0.0% $8,000,000 - $9,999,999 0 1 -100.0% 0 1 -100.0% $10,000,000 and up 1 0 Not Valid 1 0 Not Valid MarketTotals 59 84 -29.8% 79 106 -25.5%
Source:
Greenwich Multiple Listing Service, Single-family homes
QUARTERLY MARKET OVERVIEW
TEN-YEAR MARKET HISTORY
* Homes sold for 2023 are annualized based on actual sales year-to-date.
OLD GREENWICH
Q3 2023 Q3 2022 % CHANGE YTD 2023 YTD 2022 % CHANGE HOMES SOLD 23 37 -37.8% 61 75 -18.7% AVERAGE SALE PRICE $3,320,409 $2,597,357 27.8% $2,459,089 $2,751,838 -10.6% MEDIAN SALE PRICE $2,850,000 $2,433,333 17.1% $2,150,000 $2,355,555 -8.7% AVERAGE PRICE PER SQUARE FOOT $1,033 $807 28.0% $861 $817 5.4% AVERAGE DAYS ON MARKET 33 23 43.5% 49 45 8.9% % SALE PRICE TO LIST PRICE 106.7% 104.1% 2.5% 103.9% 102.5% 1.4%
Average Sale Price $2,564,436 $2,017,057 $1,997,289 $2,455,255 $2,166,274 $2,323,307 $2,284,319 $2,624,038 $2,731,362 $2,459,089 Average Sale Price Average Price/SqFt $749 $644 $647 $709 $614 $637 $625 $751 $819 $861 Average Price/SqFt Days On Market 109 147 132 172 159 153 113 58 46 49 Days On Market %Sale Price to List Price 94.1 96.2 96.9 94.7 94.2 93.6 96.3 99.3 102.3 103.9 %Sale Price to List Price
SUPPLY DEMAND ANALYSIS
SOLD PROPERTIES
OLD GREENWICH
AS OF SEPTEMBER 30, 2023 AS OF SEPTEMBER 30, 2022 2023 vs. 2022 PRICE RANGE SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* % CHANGE IN LISTINGS % CHANGE IN PENDINGS $0 - $999,999 0 1 0 1 0 Not Valid -100.0% 0.0% $1,000,000 - $1,999,999 0 1 0 5 3 2 -100.0% -66.7% $2,000,000 - $2,999,999 2 0 Not Valid 3 4 1 -33.3% -100.0% $3,000,000 - $3,999,999 0 4 0 3 2 2 -100.0% 100.0% $4,000,000 - $4,999,999 3 1 3 1 0 Not Valid 200.0% 0.0% $5,000,000 - $5,999,999 0 0 Not Valid 2 1 2 -100.0% -100.0% $6,000,000 - $7,999,999 0 0 Not Valid 0 0 Not Valid 0.0% 0.0% $8,000,000 - $9,999,999 1 0 Not Valid 0 0 Not Valid 0.0% 0.0% $10,000,000 and up 1 0 Not Valid 1 0 Not Valid 0.0% 0.0% MarketTotals 7 7 1 16 10 2 -56.3% -30.0% *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
YEAR-TO-DATE YEAR-OVER-YEAR 01/01/202309/30/2023 01/01/202209/30/2022 % CHANGE 2023/2022 10/01/202209/30/2023 10/01/202109/30/2022 % CHANGE 2023/2022 $0 - $999,999 5 4 25.0% 5 4 25.0% $1,000,000 - $1,999,999 22 27 -18.5% 26 38 -31.6% $2,000,000 - $2,999,999 19 22 -13.6% 24 33 -27.3% $3,000,000 - $3,999,999 7 8 -12.5% 9 10 -10.0% $4,000,000 - $4,999,999 3 7 -57.1% 3 8 -62.5% $5,000,000 - $5,999,999 3 2 50.0% 4 2 100.0% $6,000,000 - $7,999,999 2 4 -50.0% 2 7 -71.4% $8,000,000 - $9,999,999 0 0 Not Valid 0 0 Not Valid $10,000,000 and up 0 1 -100.0% 0 1 -100.0% MarketTotals 61 75 -18.7% 73 103 -29.1%
Source: Greenwich Multiple Listing Service, Single-family homes
QUARTERLY MARKET OVERVIEW
GREATER GREENWICH CONDOMINIUMS
TEN-YEAR MARKET HISTORY
* Homes sold for 2023 are annualized based on actual sales year-to-date.
Q3 2023 Q3 2022 % CHANGE YTD 2023 YTD 2022 % CHANGE HOMES SOLD 41 36 13.9% 126 134 -6.0% AVERAGE SALE PRICE $1,199,519 $1,453,097 -17.5% $1,188,387 $1,250,163 -4.9% MEDIAN SALE PRICE $914,000 $992,500 -7.9% $909,500 $900,000 1.1% AVERAGE PRICE PER SQUARE FOOT $712 $613 16.2% $707 $599 18.0% AVERAGE DAYS ON MARKET 50 40 25.0% 54 61 -11.5% % SALE PRICE TO LIST PRICE 99.5% 101.7% -2.2% 100.0% 101.8% -1.8%
Average Sale Price $901,903 $1,028,489 $981,069 $1,030,294 $1,003,349 $959,215 $1,084,790 $1,088,265 $1,185,880 $1,188,387 Average Sale Price Average Price/SqFt $457 $495 $488 $492 $509 $480 $525 $548 $625 $707 Average Price/SqFt Days On Market 154 137 124 130 166 141 147 114 60 54 Days On Market %Sale Price to List Price 95.6 96.2 96.5 95.0 96.0 95.4 95.4 97.6 101.1 100.0 %Sale Price to List Price
AS OF SEPTEMBER 30, 2023 AS OF SEPTEMBER 30, 2022 2023 vs. 2022 PRICE RANGE SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* SUPPLY: ACTIVE LISTINGS DEMAND: PENDING SALES SUPPLY/ DEMAND RATIO* % CHANGE IN LISTINGS % CHANGE IN PENDINGS $0 - $999,999 10 8 1 30 17 2 -66.7% -52.9% $1,000,000 - $1,999,999 10 11 1 11 6 2 -9.1% 83.3% $2,000,000 - $2,999,999 5 1 5 9 1 9 -44.4% 0.0% $3,000,000 - $3,999,999 3 4 1 5 2 3 -40.0% 100.0% $4,000,000 - $4,999,999 0 0 Not Valid 0 1 0 0.0% -100.0% $5,000,000 - $5,999,999 0 0 Not Valid 1 0 Not Valid -100.0% 0.0% $6,000,000 - $7,999,999 0 0 Not Valid 0 0 Not Valid 0.0% 0.0% $8,000,000 - $9,999,999 0 0 Not Valid 0 0 Not Valid 0.0% 0.0% $10,000,000 and up 0 0 Not Valid 0 0 Not Valid 0.0% 0.0% MarketTotals 28 24 1 56 27 2 -50.0% -11.1% *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand SOLD PROPERTIES YEAR-TO-DATE YEAR-OVER-YEAR 01/01/202309/30/2023 01/01/202209/30/2022 % CHANGE 2023/2022 10/01/202209/30/2023 10/01/202109/30/2022 % CHANGE 2023/2022 $0 - $999,999 70 74 -5.4% 106 100 6.0% $1,000,000 - $1,999,999 42 37 13.5% 53 50 6.0% $2,000,000 - $2,999,999 10 13 -23.1% 12 19 -36.8% $3,000,000 - $3,999,999 2 7 -71.4% 4 9 -55.6% $4,000,000 - $4,999,999 2 3 -33.3% 3 3 0.0% $5,000,000 - $5,999,999 0 0 Not Valid 0 0 Not Valid $6,000,000 - $7,999,999 0 0 Not Valid 0 0 Not Valid $8,000,000 - $9,999,999 0 0 Not Valid 0 0 Not Valid $10,000,000 and up 0 0 Not Valid 0 0 Not Valid MarketTotals 126 134 -6.0% 178 181 -1.7%
GREATER GREENWICH CONDOMINIUMS SUPPLY DEMAND ANALYSIS
Source: Greenwich Multiple Listing Service, Condominium
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Stylish updated English Manor with a pool, pool house, tennis court and guest cottage.
Ellen Mosher | M (203) 705-9680
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Amanda J. Miller | M (203) 912-9233
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Joanne Mancuso | M (203) 667-3887
GREENWICH, CT · $4,295,000
Renovated brick Georgian on five pastoral acres. 6,347 square foot home with horse barn and two car garage.
Barbara Wells | M (203) 912-5644
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Elegant Traditional with pool graces 2.06 acres overlooking a lake off Round Hill Road.
Ginny Hamilton | M (203) 962-4788
203.869.0700 · 203.698.1234 · HOULIHANLAWRENCE.COM @AROUNDGREENWICH @AROUNDGREENWICH /GREENWICHCTREALESTATE Source: GMLS, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, total units of single family homes sold by company, Greater Greenwich
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