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July 2015 Real Estate Market Report (Prelim.) Sales Down, Contracts Up

sales-sfh-2013-julyprelim2014-080115

Contracts were down at the end of June so July was not likely to be a stellar month and it wasn’t. We only had 71 sales reported by the GMLS last month. We’ll get a few late sales reported and seven to 10 private sales, but even if we get to 84 sales we will still be below the 98 sales in July 2013 and the 95 sales in July 2014. We will get to our 9 year average of 73 sales and June was a stellar month. With a little time shifting between months we have two above average months.

Single Family Home Sales in Greenwich go from a stellar June to an average July,
Single Family Home Sales in Greenwich go from a stellar June to an average July,

The good thing is we still have 103 contracts waiting to close. So August should look better than July.

So the raw number looks like this:

As of 8/1/15 Inventory Contracts Last Mo. Solds Tot. Solds+ Contracts YTD Solds  YTD+ Contracts Mos Supply Mos w/ Contracts Last Mo. Annlzd
< $600K 9 2 0 2 12 14 5.3 5.5 ######
$600-$800K 19 7 6 13 20 27 6.7 6.0 3.2
$800K-$1M 24 15 1 16 20 35 8.4 5.8 24.0
$1-$1.5M 40 9 18 27 82 91 3.4 3.7 2.2
$1.5-$2M 68 21 16 37 73 94 6.5 6.1 4.3
$2-$3M 114 19 13 32 68 87 11.7 11.1 8.8
$3-$4M 85 14 8 22 40 54 14.9 13.4 10.6
$4-$5M 47 5 3 8 20 25 16.5 16.0 15.7
$5-7.5M 81 7 5 12 26 33 21.8 20.9 16.2
$7.5-$10M 28 2 1 3 4 6 49.0 39.7 28.0
> $10M 54 2 0 2 3 5 126.0 91.8 ######
TOTAL 569 103 71 174 368 471 10.8 10.3 8.0
                   
Inventory Sales Inv. – Sales Diff
Count 569                          368 201
Total Sales $  $      905,283,029
 Average  $           4,805,284  $           2,460,008  $    2,345,275
 Median  $           3,195,000  $           1,875,000  $    1,320,000
List Price Sold Price  Inv. – Sales Diff

More on this next week.

Mark Pruner, 203-969-7900, Douglas Elliman

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