How’s The Market, Really?

DeBlasio is coming, DeBlasio is coming! Desperate Manhattanites, rushing  down King  Sreet, heading to Greenwich to Connecticut to escape the coming Marxist tidal wave!

DeBlasio is coming, DeBlasio is coming! Desperate Manhattanites, rushing down King Street, heading to Greenwich to escape the coming Marxist tidal wave!

Turns out, not that bad, and certainly improved from 2013. Here are the numbers, provided by the (subscription only) real estate statistics site, SearchGreenwich.net, for single-family quarterly sales this year vs. last:

First quarter 2013:  96

First quarter 2014:  109

(SearchGreenwich tracks all reported sales, including non-MLS, but around 94% of sales are listed by brokers)

For The Year

The worst year in everyone’s memory was 2009, when the MLS showed 333 sales for the entire year; very scary. In 2013 we were back up to a more prosperous level of 620 sales, and I wouldn’t be surprised to see 700+ sales for all of 2014.

Click on the link below to see the full report, comparing first quarter 2013 to 2014, including land, condos, multi-family, etc. Info provided by DeCaro Associates, LLC.

SearchGreenwichStats

5 thoughts on “How’s The Market, Really?

  1. One of us isn’t reading something correctly, could be me but….
    Either I’m very confused or Raveis is sending out incorrect newsletters…

    Changes Favoring Buyers
    3 Months Ending April, 2014 % Chg From Apr, 2013
    Unit Sales 93 -14.7%
    New Listings 388 2.9%
    Listings Under Contract 147 -18.3%

    Changes Favoring Sellers
    3 Months Ending April, 2014 % Chg From Apr, 2013
    Median Sale Price $2,025,000 20.5%
    Sales to List Price Ratio 93.3% 0.2%
    Inventory 526 -8.4%
    Months of Supply 9.9 -15.3%
    Market Time (Days) 160 -8.6%
    Price per Sq Ft for Sold $635 16.3%

    • Lin:
      Hmmm, well, I was quoting Fred DeCaro’s “SearchGreenwich.net”, which, as I noted, takes into account ALL sales, including the so-called “direct” sales (scratch beneath the surface, you almost always find broker involvement). Anyway, I’m going to take a look at Raveis’s statistics and see if I can figure out the apparent discrepancies.

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