By Mark Pruner
The Biggest, the Smallest and the Longest DOM
So far in 2025, we have had 490 single family home sales which is well below our 10-year pre-Covid average of 621 sales, but by the end of the year, we will likely have more than the 510 sales that we had last year. As of the end of November, our sales were 3% above last year and we should finish strong, but we are not likely to beat last year’s total sale by double digits. Given how little inventory we had all year, it is actually surprising that we did this well.
I. Lowest Inventory ever
We had the tightest market ever with only 86 listings at the beginning of 2025. By the second week of February, we were down to an all-time low of only 80 single family homes on the market. Then our spring market kicked in and by the end of May we were up to 151 listings. That’s almost a doubling of that all-time low, but high for the year was an all-time low for that week of the year. From May to August inventory drifted down. We then had a little bump up in inventory after Labor Day for our fall market. Then we continued our fall.
As of the second week in December, we have set a new all-time low with only 74 listings on the market. This compares to last year when we had 113 listings on the market, so we are down 34% from those lows. To show you just how bad this is, if you go back to the second week of December 2019, we had 505 house listings, i.e. we are down 85.3% from our pre-Covid inventory levels. Despite this, as I noted above, our 2025 sales are likely to beat our 2024.
II. Highest Sale
A. By Neighborhoods over $10 Million.
1. Mid-country– 214 Clapboard Ridge Rd – $43,500,000
2. South of Post Road – 579 Indian Field Rd – $40,000,000
3. Backcountry – 24 Conyers Farm Drive – $23,000,000
4. Old Greenwich – 198 Shore Rd – $21,000.000
5. Riverside – 88 Cedar Cliff Rd – $13,250,000
No market has changed more year to year than our over $10 million market. We have had 37 sales over $10 million this year. We only had 17 sales over $10 million in 2024 and only 12 sales over $10 million in 2023. The ultra-high-end will more than double our previous record of over $10 million sales set in 2007, when we had 19 sales over $10 million. (Of course, back in 2007, $10 million was a lot more money in real terms. It also shows you just how big the bubble was right before the Great Recession.)
This year, our highest priced sale of the year was in mid-country, and the sale was really remarkable. That house was a new build with 26,837 s.f. on 8 acres in the 2-acreone. The land had been purchased in 2019 for $5.1 million. It takes a lot of guts to build a house that big and list it for that much in hopes you’ll find a buyer, but the market demand was there as the house went to contract in 42 days and the buyer was from Greenwich.
When the stock market does well, the Greenwich high-end market does well. The stock markets are also volatile and taking some money off the table and putting it into Greenwich real estate can be prudent estate planning.
III. Lowest Sales Price
A. By Neighborhood
1. Chickahominy – 123 Hamilton Avenue – $650,000
2. Glenville– 58 Riverdale – $695,000
3. Byram – 43 High St. – $700,000
4. Pemberwick – 23 Pemberwick – $755,000
Our lowest priced sale was in Chickahominy, while our second lowest priced sale was in Glenville, an area that has seen significant appreciation. Both houses had 2 bedrooms and were just over 1,100 s.f.
The median house sales price in the State of Connecticut is around $450,000. Nothing in Greenwich gets close to the state median price. This year, like the past several years, we had no sales under $500,000 and we only had these two sales under $700K.
None of our lowest priced houses are in move-in condition, so these sales prices do not reflect the buyer’s total first year costs. If you are looking for a bargain in Greenwich, they are all gone, so if you are looking for a house under $1,000,000 be prepared to move quickly. Right now, in mid-December 2025, you have a choice of two houses under $1 million and that second lowest price house is priced at $999,000.
IV. Biggest House
Our biggest house sold this year was also the highest priced at 214 Clapboard Ridge Rd at 26,837 s.f. Our second biggest house was at 11 Langhorne Lane at 26,45 s.f. and went for $17,370,000 or $963/sf less than the $1,621/sf that 214 Clapboard Ridge Road sold for.
V. Smallest House
Our smallest house was only 804 s.f. and sold for $2,730,000 or $3,395/s.f. Even for Greenwich, which is a remarkable price, and the fact it is Old Greenwich south of the village makes it only slightly less remarkable. What really happened was that this was a dual lot at 17 Keoffram Road and the 804 s.f. house was the carriage house to the main house. That’s still a lot of money for a 0.33 acre lot.
For a real house, that’s smallest, it’s also in Old Greenwich at 20 Old Wagon Road. This 2-bedroom, 1 bath, and 1 fireplace house had 1,066 s.f. It sold for $1,529,000 along with its 0.31 acre lot.
VI. Days on Market
For all sales so far this year, our median days on market is only 23 days from listing to contract. This compares to 145 days on the market in 2019.
When you are in a tight market, one thing that happens is that houses that have been sitting for a long time find buyers. This year 88 Cedar Cliff held the record for cumulative days on the market at 1,162 CDOM. This number takes in a couple of quirks. If you take a house on the GMLS off the market for more than 90 days it resets the number of days on market, so 88 Cedar Cliff was on essentially on continuously for a little over 3 years. (Other listing may have been on and off for more than that, there is no easy way to tell.) Also, if the listing agents change, the LADOM resets to zero, but the CDOM keeps chugging along. You have to check whether you are talking about, DOM, CDOM or LADOM.
The GMLS lists 22 sales that were on for 0 days on market, which seems pretty remarkable, but these were actually private sales that were put on the GMLS for “Reporting Purposes Only”. There is no way of knowing how long they were marketed privately, before getting to contract.
Where this becomes an issue is that 22 zeroes are enough to bring down both our average and median days on market. If you exclude our 22 reporting purposes only sales with zero DOM our average DOM goes up from 67 days on market to 72 days on market. Anytime you see a number for days on market, it’s worth looking at the details.
VII. Acres
Our largest lot size sold this year was Creamer Hill Road with 81.5 acres right on our northern border with New York. It sold for $19,500,000 and included a 14,296 s.f. house. At the other end of the lot size, our smallest lot sale was 58 Riverdale, on 0.04 acres, which was our second lowest priced house at $695,000. Another way to look at it is the 264 smaller lot sales would have fit in those 81.5 acres.
VIII. OLP vs SP
Our most over list price sale was last month at 17 Meadow Drive. It went for 44% over list price. It listed for $799,000 and sold for $1,152,000 in only 7 days on market.
Of our 490 sales so far this year, 270 went for full list price or over list price. At the other end, our largest land sale on Creamer Hill Road went for 56% of its original list price.
All in all, an interesting year. It would be nice if 2026 is a little more normal.
Mark Pruner is a founder of the Greenwich Streets Team at Compass. He can be reached at 203-817-2871 or mark.pruner@compass.com.
