Day: October 21, 2023

sept23-condosales-2022-9-23-24yravg-mp_-101823

Greenwich Condo Sales Lower as Inventory Lower with Little Seasonality

Since seasonaility isn't a good guide for buyers what is? If you're a buyer looking for a bargain, pay close attention to the days on the market for each specific condo. Listings with significantly above-average months of supply are typically overpriced, have some significant issues (like being located near a highway), or require extensive renovations. Reducing the price can address all three issues, even if it results in a lower price per square foot compared to the competition. It's suprising how often a seller with high DOM, will accept a reasonable offer, just don't start out with low-ball bid or you are likely not to get a counter.
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