November was not a crazy month by any stretch of the imagination. We had 25 sales, which is pretty close to the 29 we had in 2009. Historically it is never a big month as most people are consumed by (or consuming) turkey and football. This odd period between the holidays is never really a hot time. One thing I would like to point out about this November is that the sales were considerably smaller in price than the average and last November. We saw an average sales price of $1.375m, which is about a million less than the average. There were many condo and apartment transactions in Greenwich.
For the year, sales are way up when compared to 2009 and inventory has remained about the same. I see this as a good sign for things to come. I expect the inventory number to jump come January and February for cyclical reasons - people like to buy and sell in the spring and people like to buy when they have money/bonuses.
On another note, I just launched my new website www.GreenwichCT.com. On this website I (together with other contributors) will be posting as much as I can about the town. These monthly emails will be posted and categorized into the real estate section. I have a Greenwich 365 section where I post a new thing to do every day. I am currently working with Greg Skidmore of Belray Asset Management to get as much content as we can. I want this to be a community website. If you know of anyone that would like to help out please speak up.
I wish everyone an excellent December and holiday season.
Scott P. Elwell
Al Filippone Associates @ William Raveis
45 Field Point Road, Greenwich, CT 06830
Want to search Greenwich, CT? Go to elwellsc.grw.mlxchange.com
Want to search Fairfield County? Go to scottelwell.listingbook.com