GREENWICH
Market Report
FULL YEAR 2023
F U L L Y E A R 2 0 2 3 M A R K E T R E P O RT
2023 was a year in Greenwich, Connecticut real estate punctuated by limited inventory and continued high buyer demand. High mortgage rates and few homes to choose from kept many homeowners – who’d like to upsize or downsize – on the sidelines, waiting for more options. While home sales declined due to lack of inventory, consistent buyer interest for homes in Greenwich helped to prop up prices for a fourth consecutive year. With a new year upon us, there are signs of optimism that could bode well for the first quarter. Mortgage rates are trending lower, which may help unlock more inventory to meet buyer demand. However, a Presidential election year can often create uncertainty as we approach the November 5, 2024 voting day, which may favor buyers looking to negotiate a deal. Strategic pricing remains a key factor in helping sellers unlock a successful high-priced sale today, as overpriced homes tend to be ignored by market-savvy buyers. Among the 2023 real estate highlights revealed in the pages that follow, the high-end market was a standout, with sales in the $8M+ category the only segment posting year-over-year gains. Homes in Old Greenwich sold on average for 3.5% over asking price, the largest premium in town. In Riverside, homes sold the quickest with average days on market of just 47 days. We are grateful to the Greenwich community, our world-class agents, support staff and loyal clients for making Houlihan Lawrence the most trusted real estate brokerage for an eighth consecutive year. With Warm Regards, Liz Nunan President and CEO Source: 1/1/23 – 12/31/23, total sales both on and off MLS.
GREENWICH, CT · $18,950,000 A custom built, ultra luxurious modern residence in Mid-Country by the unrivaled team of Sound Beach Partners, Amy Hirsh Interior Design and Architect Tanner White. Fully furnished and available for immediate occupancy. E l len Mo sher | M 203.705.9680
/G R E E N W I C H C T R E A L E S TAT E
@A RO U N D G R EEN W I C H
@A RO U N D G R EEN W I C H
2 0 3 . 8 6 9. 0 7 0 0 · 2 0 3 . 6 9 8 . 1 2 3 4 · H O U L I H A N L A W R E N C E . C O M
TABLE OF CONTENTS FOURTH QUARTER 2023
GREATER GREENWICH
GREENWICH
Single Family Home Overview
South of the Post Road
GREENWICH
COS COB
North of the Parkway
GREENWICH
OLD GREENWICH
GREATER GREENWICH Condominium Overview
RIVERSIDE
South of the Parkway
HOULIHANLAWRENCE.COM
GREATER GREENWICH
QUARTERLY MARKET OVERVIEW Q4 2023
Q4 2022
108
101
HOMES SOLD
% FULL YEAR FULL YEAR % CHANGE 2023 2022 CHANGE 6.9%
525
637
-17.6%
AVERAGE SALE PRICE
$3,159,802 $2,742,715
15.2%
$3,544,907
$3,050,065
16.2%
MEDIAN SALE PRICE
$2,200,000 $2,375,000
-7.4%
$2,500,000
$2,450,000
2.0%
AVERAGE PRICE PER SQUARE FOOT
$771
$704
9.5%
$759
$696
9.1%
AVERAGE DAYS ON MARKET
73
59
23.7%
85
76
11.8%
% SALE PRICE TO LIST PRICE
99.0%
99.2%
-0.2%
98.0%
99.7%
-1.7%
TEN-YEAR MARKET HISTORY
Average Sale Price
$2,688,907 $2,421,486 $2,203,756 $2,574,993 $2,393,006 $2,376,330 $2,667,708 $3,005,642 $3,050,065 $3,544,907 Average Sale Price
Average Price/SqFt
$611
$592
$564
$578
$563
$545
$557
$635
$696
$759
Average Price/SqFt
Days On Market
156
161
157
184
179
200
171
110
76
85
Days On Market
%Sale Price to List Price
93.7
94.4
94.1
92.5
93.7
92.4
94.4
97.4
99.7
98.0
%Sale Price to List Price
GREATER GREENWICH SUPPLY DEMAND ANALYSIS AS OF DECEMBER 31, 2023
AS OF DECEMBER 31, 2022
2023 vs. 2022
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
4
2
2
9
6
2
-55.6%
-66.7%
$1,000,000 - $1,999,999
9
11
1
22
11
2
-59.1%
0.0%
$2,000,000 - $2,999,999
19
11
2
17
11
2
11.8%
0.0%
$3,000,000 - $3,999,999
8
9
1
20
8
3
-60.0%
12.5%
$4,000,000 - $4,999,999
10
6
2
22
6
4
-54.5%
0.0%
$5,000,000 - $5,999,999
7
3
2
15
3
5
-53.3%
0.0%
$6,000,000 - $7,999,999
9
6
2
11
8
1
-18.2%
-25.0%
$8,000,000 - $9,999,999
7
2
4
5
3
2
40.0%
-33.3%
PRICE RANGE $0 - $999,999
$10,000,000 and up
18
3
6
22
1
22
-18.2%
200.0%
Market Totals
91
53
2
143
57
3
-36.4%
-7.0%
*Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
SOLD PROPERTIES YEAR-TO-DATE
YEAR-OVER-YEAR
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
$0 - $999,999
54
62
-12.9%
54
62
-12.9%
$1,000,000 - $1,999,999
140
183
-23.5%
140
183
-23.5%
$2,000,000 - $2,999,999
120
149
-19.5%
120
149
-19.5%
$3,000,000 - $3,999,999
57
81
-29.6%
57
81
-29.6%
$4,000,000 - $4,999,999
59
63
-6.3%
59
63
-6.3%
$5,000,000 - $5,999,999
38
42
-9.5%
38
42
-9.5%
$6,000,000 - $7,999,999
27
35
-22.9%
27
35
-22.9%
$8,000,000 - $9,999,999
17
13
30.8%
17
13
30.8%
$10,000,000 and up
13
9
44.4%
13
9
44.4%
Market Totals
525
637
-17.6%
525
637
-17.6%
Source: Greenwich Multiple Listing Service, Single-family homes
GREENWICH NORTH OF THE PARKWAY
QUARTERLY MARKET OVERVIEW Q4 2023
Q4 2022
11
13
HOMES SOLD
% FULL YEAR FULL YEAR % CHANGE 2023 2022 CHANGE -15.4%
56
75
-25.3%
AVERAGE SALE PRICE
$5,745,227 $2,956,432
94.3%
$5,225,681
$3,506,965
49.0%
MEDIAN SALE PRICE
$5,250,000 $2,550,000
105.9%
$4,200,000
$2,900,000
44.8%
AVERAGE PRICE PER SQUARE FOOT
$706
$552
27.9%
$666
$596
11.7%
AVERAGE DAYS ON MARKET
110
61
80.3%
170
101
68.3%
% SALE PRICE TO LIST PRICE
97.6%
101.2%
-3.6%
94.1%
97.3%
-3.3%
TEN-YEAR MARKET HISTORY
Average Sale Price
$3,997,995 $2,834,463 $2,939,222 $3,590,745 $3,264,086
$3,156,247
$2,851,219 $3,948,040 $3,506,965 $5,225,681 Average Sale Price
Average Price/SqFt
$554
$524
$470
$501
$495
$503
$455
$553
$596
$666
Average Price/SqFt
Days On Market
327
250
237
310
210
251
231
169
101
170
Days On Market
%Sale Price to List Price
90.2
92.7
91.8
85.7
91.9
90.1
94.2
96.5
97.3
94.1
%Sale Price to List Price
GREENWICH NORTH OF THE PARKWAY SUPPLY DEMAND ANALYSIS AS OF DECEMBER 31, 2023
AS OF DECEMBER 31, 2022
2023 vs. 2022
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$0 - $999,999
0
0
Not Valid
0
1
0
0.0%
-100.0%
$1,000,000 - $1,999,999
3
0
Not Valid
2
1
2
50.0%
-100.0%
$2,000,000 - $2,999,999
4
1
4
2
1
2
100.0%
0.0%
$3,000,000 - $3,999,999
1
1
1
4
1
4
-75.0%
0.0%
$4,000,000 - $4,999,999
3
0
Not Valid
7
1
7
-57.1%
-100.0%
$5,000,000 - $5,999,999
2
2
1
1
0
Not Valid
100.0%
0.0%
$6,000,000 - $7,999,999
3
1
3
1
1
1
200.0%
0.0%
$8,000,000 - $9,999,999
4
0
Not Valid
3
2
2
33.3%
-100.0%
$10,000,000 and up
4
0
Not Valid
4
1
4
0.0%
-100.0%
Market Totals
24
5
5
24
9
3
0.0%
-44.4%
PRICE RANGE
*Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
SOLD PROPERTIES YEAR-TO-DATE
YEAR-OVER-YEAR
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
$0 - $999,999
1
1
0.0%
1
1
0.0%
$1,000,000 - $1,999,999
9
18
-50.0%
9
18
-50.0%
$2,000,000 - $2,999,999
9
21
-57.1%
9
21
-57.1%
$3,000,000 - $3,999,999
7
14
-50.0%
7
14
-50.0%
$4,000,000 - $4,999,999
9
7
28.6%
9
7
28.6%
$5,000,000 - $5,999,999
6
4
50.0%
6
4
50.0%
$6,000,000 - $7,999,999
4
8
-50.0%
4
8
-50.0%
$8,000,000 - $9,999,999
6
1
500.0%
6
1
500.0%
$10,000,000 and up
5
1
400.0%
5
1
400.0%
Market Totals
56
75
-25.3%
56
75
-25.3%
Source: Greenwich Multiple Listing Service, Single-family homes
GREENWICH SOUTH OF THE PARKWAY
QUARTERLY MARKET OVERVIEW Q4 2023
Q4 2022
47
33
HOMES SOLD
% FULL YEAR FULL YEAR % CHANGE 2023 2022 CHANGE 42.4%
197
221
-10.9%
AVERAGE SALE PRICE
$3,175,756 $2,828,131
12.3%
$3,585,817
$3,619,969
-0.9%
MEDIAN SALE PRICE
$2,370,000 $2,495,000
-5.0%
$3,200,000
$3,000,000
6.7%
AVERAGE PRICE PER SQUARE FOOT
$726
$675
7.6%
$692
$676
2.4%
AVERAGE DAYS ON MARKET
78
65
20.0%
85
96
-11.5%
% SALE PRICE TO LIST PRICE
98.6%
97.6%
1.0%
98.8%
98.9%
-0.1%
TEN-YEAR MARKET HISTORY
Average Sale Price
$2,698,854 $3,075,190 $2,403,016 $2,769,651
$2,670,378 $2,537,605 $2,929,847
$3,190,519 $3,619,969
$3,585,817 Average Sale Price
Average Price/SqFt
$567
$587
$535
$547
$537
$499
$529
$595
$676
$692
Average Price/SqFt
Days On Market
171
167
176
204
188
234
197
126
96
85
Days On Market
%Sale Price to List Price
93.8
93.7
94.0
92.9
92.8
91.9
94.9
97.0
98.9
98.8
%Sale Price to List Price
GREENWICH SOUTH OF THE PARKWAY SUPPLY DEMAND ANALYSIS AS OF DECEMBER 31, 2023
AS OF DECEMBER 31, 2022
2023 vs. 2022
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$0 - $999,999
2
1
2
4
2
2
-50.0%
-50.0%
$1,000,000 - $1,999,999
1
2
1
2
3
1
-50.0%
-33.3%
$2,000,000 - $2,999,999
8
2
4
1
4
1
700.0%
-50.0%
$3,000,000 - $3,999,999
2
5
1
2
4
1
0.0%
25.0%
$4,000,000 - $4,999,999
5
4
1
9
2
5
-44.4%
100.0%
$5,000,000 - $5,999,999
4
1
4
8
2
4
-50.0%
-50.0%
$6,000,000 - $7,999,999
4
5
1
3
5
1
33.3%
0.0%
$8,000,000 - $9,999,999
3
2
2
0
1
0
0.0%
100.0%
PRICE RANGE
$10,000,000 and up
7
2
4
5
0
Not Valid
40.0%
0.0%
Market Totals
36
24
2
34
23
1
5.9%
4.3%
*Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
SOLD PROPERTIES YEAR-TO-DATE
YEAR-OVER-YEAR
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
$0 - $999,999
19
24
-20.8%
19
24
-20.8%
$1,000,000 - $1,999,999
41
38
7.9%
41
38
7.9%
$2,000,000 - $2,999,999
35
47
-25.5%
35
47
-25.5%
$3,000,000 - $3,999,999
26
34
-23.5%
26
34
-23.5%
$4,000,000 - $4,999,999
30
26
15.4%
30
26
15.4%
$5,000,000 - $5,999,999
20
21
-4.8%
20
21
-4.8%
$6,000,000 - $7,999,999
15
16
-6.3%
15
16
-6.3%
$8,000,000 - $9,999,999
9
9
0.0%
9
9
0.0%
$10,000,000 and up
2
6
-66.7%
2
6
-66.7%
Market Totals
197
221
-10.9%
197
221
-10.9%
Source: Greenwich Multiple Listing Service, Single-family homes
GREENWICH SOUTH OF THE POST ROAD
QUARTERLY MARKET OVERVIEW Q4 2023
Q4 2022
16
11
HOMES SOLD
% FULL YEAR FULL YEAR % CHANGE 2023 2022 CHANGE 45.5%
58
63
-7.9%
AVERAGE SALE PRICE
$2,711,250 $3,674,213
-26.2%
$5,494,005
$3,316,751
65.6%
MEDIAN SALE PRICE
$1,680,000 $2,600,000
-35.4%
$1,855,500
$2,600,000
-28.6%
AVERAGE PRICE PER SQUARE FOOT
$1,001
$945
5.9%
$1,096
$750
46.1%
AVERAGE DAYS ON MARKET
56
51
9.8%
85
86
-1.2%
% SALE PRICE TO LIST PRICE
97.1%
97.1%
0.0%
93.6%
99.6%
-6.0%
TEN-YEAR MARKET HISTORY
Average Sale Price
$4,083,817 $2,043,325 $2,545,622 $2,977,955
$2,371,594 $2,896,440 $3,458,830 $3,913,035
$3,316,751 $5,494,005 Average Sale Price
Average Price/SqFt
$726
$598
$623
$639
$666
$667
$676
$712
$750
$1,096
Average Price/SqFt
Days On Market
165
172
133
141
208
211
182
137
86
85
Days On Market
%Sale Price to List Price
93.4
96.2
92.3
91.5
94.5
92.6
91.1
95.5
99.6
93.6
%Sale Price to List Price
GREENWICH SOUTH OF THE POST ROAD SUPPLY DEMAND ANALYSIS AS OF DECEMBER 31, 2023
AS OF DECEMBER 31, 2022
2023 vs. 2022
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$0 - $999,999
1
1
1
1
1
1
0.0%
0.0%
$1,000,000 - $1,999,999
3
2
2
1
0
Not Valid
200.0%
0.0%
$2,000,000 - $2,999,999
4
2
2
5
1
5
-20.0%
100.0%
$3,000,000 - $3,999,999
2
2
1
4
1
4
-50.0%
100.0%
$4,000,000 - $4,999,999
0
0
Not Valid
1
2
1
-100.0%
-100.0%
$5,000,000 - $5,999,999
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$6,000,000 - $7,999,999
2
0
Not Valid
3
0
Not Valid
-33.3%
0.0%
$8,000,000 - $9,999,999
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$10,000,000 and up
4
1
4
3
0
Not Valid
33.3%
0.0%
Market Totals
16
8
2
18
5
4
-11.1%
60.0%
PRICE RANGE
*Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
SOLD PROPERTIES YEAR-TO-DATE
YEAR-OVER-YEAR
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
$0 - $999,999
17
11
54.5%
17
11
54.5%
$1,000,000 - $1,999,999
14
13
7.7%
14
13
7.7%
$2,000,000 - $2,999,999
7
9
-22.2%
7
9
-22.2%
$3,000,000 - $3,999,999
3
4
-25.0%
3
4
-25.0%
$4,000,000 - $4,999,999
6
9
-33.3%
6
9
-33.3%
$5,000,000 - $5,999,999
3
11
-72.7%
3
11
-72.7%
$6,000,000 - $7,999,999
3
4
-25.0%
3
4
-25.0%
$8,000,000 - $9,999,999
2
1
100.0%
2
1
100.0%
$10,000,000 and up
3
1
200.0%
3
1
200.0%
Market Totals
58
63
-7.9%
58
63
-7.9%
Source: Greenwich Multiple Listing Service, Single-family homes
COS COB
QUARTERLY MARKET OVERVIEW Q4 2023
Q4 2022
11
12
HOMES SOLD
% FULL YEAR FULL YEAR % CHANGE 2023 2022 CHANGE -8.3%
65
77
-15.6%
AVERAGE SALE PRICE
$1,802,772 $2,050,708
-12.1%
$1,793,257
$1,815,667
-1.2%
MEDIAN SALE PRICE
$1,612,500 $1,750,000
-7.9%
$1,700,000
$1,650,000
3.0%
AVERAGE PRICE PER SQUARE FOOT
$615
$597
3.0%
$602
$583
3.3%
AVERAGE DAYS ON MARKET
78
54
44.4%
70
51
37.3%
% SALE PRICE TO LIST PRICE
104.2%
99.3%
4.9%
102.2%
101.0%
1.2%
TEN-YEAR MARKET HISTORY
Average Sale Price
$1,254,598 $1,365,294
$1,321,116
$1,331,751
$1,564,416
$1,248,246 $1,408,910 $1,645,808
$1,815,667
$1,793,257 Average Sale Price
Average Price/SqFt
$466
$506
$490
$456
$486
$436
$444
$532
$583
$602
Average Price/SqFt
Days On Market
103
137
140
142
153
146
158
101
51
70
Days On Market
%Sale Price to List Price
96.1
96.2
96.0
95.0
95.4
94.4
96.1
98.1
101.0
102.2
%Sale Price to List Price
COS COB SUPPLY DEMAND ANALYSIS AS OF DECEMBER 31, 2023
AS OF DECEMBER 31, 2022
2023 vs. 2022
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
0
0
Not Valid
1
1
1
-100.0%
-100.0%
$1,000,000 - $1,999,999
2
6
1
6
3
2
-66.7%
100.0%
$2,000,000 - $2,999,999
0
3
0
2
0
Not Valid
-100.0%
0.0%
$3,000,000 - $3,999,999
1
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$4,000,000 - $4,999,999
1
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$5,000,000 - $5,999,999
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$6,000,000 - $7,999,999
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$8,000,000 - $9,999,999
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$10,000,000 and up
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
Market Totals
4
9
1
9
4
2
-55.6%
125.0%
PRICE RANGE $0 - $999,999
*Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
SOLD PROPERTIES YEAR-TO-DATE
YEAR-OVER-YEAR
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
$0 - $999,999
8
11
-27.3%
8
11
-27.3%
$1,000,000 - $1,999,999
37
41
-9.8%
37
41
-9.8%
$2,000,000 - $2,999,999
17
18
-5.6%
17
18
-5.6%
$3,000,000 - $3,999,999
1
5
-80.0%
1
5
-80.0%
$4,000,000 - $4,999,999
2
2
0.0%
2
2
0.0%
$5,000,000 - $5,999,999
0
0
Not Valid
0
0
Not Valid
$6,000,000 - $7,999,999
0
0
Not Valid
0
0
Not Valid
$8,000,000 - $9,999,999
0
0
Not Valid
0
0
Not Valid
$10,000,000 and up
0
0
Not Valid
0
0
Not Valid
Market Totals
65
77
-15.6%
65
77
-15.6%
Source: Greenwich Multiple Listing Service, Single-family homes
RIVERSIDE
QUARTERLY MARKET OVERVIEW Q4 2023
Q4 2022
13
20
HOMES SOLD
% FULL YEAR FULL YEAR % CHANGE 2023 2022 CHANGE -35.0%
72
104
-30.8%
AVERAGE SALE PRICE
$2,916,025 $2,449,336
19.1%
$2,968,875
$2,507,628
18.4%
MEDIAN SALE PRICE
$2,200,000 $2,093,500
5.1%
$2,430,482
$2,050,000
18.6%
AVERAGE PRICE PER SQUARE FOOT
$855
$704
21.4%
$807
$757
6.6%
AVERAGE DAYS ON MARKET
53
62
-14.5%
47
55
-14.5%
% SALE PRICE TO LIST PRICE
100.9%
101.4%
-0.5%
101.2%
102.0%
-0.8%
TEN-YEAR MARKET HISTORY
Average Sale Price
$2,000,919
$2,275,811
$2,121,616
$2,371,435
$2,353,592
$1,945,173
$2,587,852 $2,614,485 $2,507,628 $2,968,875 Average Sale Price
Average Price/SqFt
$599
$634
$601
$619
$595
$542
$618
$678
$757
$807
Average Price/SqFt
Days On Market
107
122
138
147
168
180
125
76
55
47
Days On Market
%Sale Price to List Price
96.6
94.6
93.9
94.7
94.9
94.1
94.3
99.7
102.0
101.2
%Sale Price to List Price
RIVERSIDE SUPPLY DEMAND ANALYSIS AS OF DECEMBER 31, 2023
AS OF DECEMBER 31, 2022
2023 vs. 2022
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$0 - $999,999
1
0
Not Valid
1
0
Not Valid
0.0%
0.0%
$1,000,000 - $1,999,999
0
1
0
1
0
Not Valid
-100.0%
0.0%
$2,000,000 - $2,999,999
2
2
1
2
2
1
0.0%
0.0%
$3,000,000 - $3,999,999
1
0
Not Valid
5
0
Not Valid
-80.0%
0.0%
$4,000,000 - $4,999,999
0
2
0
0
1
0
0.0%
100.0%
$5,000,000 - $5,999,999
1
0
Not Valid
2
1
2
-50.0%
-100.0%
$6,000,000 - $7,999,999
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$8,000,000 - $9,999,999
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$10,000,000 and up
2
0
Not Valid
1
0
Not Valid
100.0%
0.0%
Market Totals
7
5
1
12
4
3
-41.7%
25.0%
PRICE RANGE
*Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
SOLD PROPERTIES YEAR-TO-DATE
YEAR-OVER-YEAR
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
$0 - $999,999
3
10
-70.0%
3
10
-70.0%
$1,000,000 - $1,999,999
17
38
-55.3%
17
38
-55.3%
$2,000,000 - $2,999,999
27
26
3.8%
27
26
3.8%
$3,000,000 - $3,999,999
10
14
-28.6%
10
14
-28.6%
$4,000,000 - $4,999,999
7
10
-30.0%
7
10
-30.0%
$5,000,000 - $5,999,999
5
3
66.7%
5
3
66.7%
$6,000,000 - $7,999,999
1
2
-50.0%
1
2
-50.0%
$8,000,000 - $9,999,999
0
1
-100.0%
0
1
-100.0%
$10,000,000 and up
2
0
Not Valid
2
0
Not Valid
Market Totals
72
104
-30.8%
72
104
-30.8%
Source: Greenwich Multiple Listing Service, Single-family homes
OLD GREENWICH
QUARTERLY MARKET OVERVIEW Q4 2023
Q4 2022
10
12
HOMES SOLD
% FULL YEAR FULL YEAR % CHANGE 2023 2022 CHANGE -16.7%
71
87
-18.4%
AVERAGE SALE PRICE
$2,768,175 $2,603,391
6.3%
$2,502,622
$2,731,362
-8.4%
MEDIAN SALE PRICE
$2,912,500 $2,737,500
6.4%
$2,195,000
$2,400,000
-8.5%
AVERAGE PRICE PER SQUARE FOOT
$749
$831
-9.9%
$845
$819
3.2%
AVERAGE DAYS ON MARKET
61
49
24.5%
51
46
10.9%
% SALE PRICE TO LIST PRICE
101.8%
100.7%
1.1%
103.5%
102.3%
1.2%
TEN-YEAR MARKET HISTORY
Average Sale Price
$2,564,436 $2,017,057 $1,997,289
$2,455,255 $2,166,274
$2,323,307
$2,284,319
$2,624,038 $2,731,362
$2,502,622 Average Sale Price
Average Price/SqFt
$749
$644
$647
$709
$614
$637
$625
$751
$819
$845
Average Price/SqFt
Days On Market
109
148
132
173
159
153
113
58
46
51
Days On Market
%Sale Price to List Price
94.1
96.2
96.9
94.7
94.2
93.6
96.3
99.3
102.3
103.5
%Sale Price to List Price
OLD GREENWICH SUPPLY DEMAND ANALYSIS AS OF DECEMBER 31, 2023
AS OF DECEMBER 31, 2022
2023 vs. 2022
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$0 - $999,999
0
0
Not Valid
1
1
1
-100.0%
-100.0%
$1,000,000 - $1,999,999
0
0
Not Valid
3
4
1
-100.0%
-100.0%
$2,000,000 - $2,999,999
1
1
1
1
3
1
0.0%
-66.7%
$3,000,000 - $3,999,999
0
1
0
2
1
2
-100.0%
0.0%
$4,000,000 - $4,999,999
1
0
Not Valid
1
0
Not Valid
0.0%
0.0%
$5,000,000 - $5,999,999
0
0
Not Valid
2
0
Not Valid
-100.0%
0.0%
$6,000,000 - $7,999,999
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$8,000,000 - $9,999,999
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$10,000,000 and up
1
0
Not Valid
1
0
Not Valid
0.0%
0.0%
Market Totals
3
2
2
11
9
1
-72.7%
-77.8%
PRICE RANGE
*Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
SOLD PROPERTIES YEAR-TO-DATE
YEAR-OVER-YEAR
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
$0 - $999,999
6
4
50.0%
6
4
50.0%
$1,000,000 - $1,999,999
22
31
-29.0%
22
31
-29.0%
$2,000,000 - $2,999,999
23
27
-14.8%
23
27
-14.8%
$3,000,000 - $3,999,999
10
10
0.0%
10
10
0.0%
$4,000,000 - $4,999,999
5
7
-28.6%
5
7
-28.6%
$5,000,000 - $5,999,999
3
3
0.0%
3
3
0.0%
$6,000,000 - $7,999,999
2
4
-50.0%
2
4
-50.0%
$8,000,000 - $9,999,999
0
0
Not Valid
0
0
Not Valid
$10,000,000 and up
0
1
-100.0%
0
1
-100.0%
Market Totals
71
87
-18.4%
71
87
-18.4%
Source: Greenwich Multiple Listing Service, Single-family homes
GREATER GREENWICH CONDOMINIUMS
QUARTERLY MARKET OVERVIEW
HOMES SOLD
Q4 2023
Q4 2022
31
52
% FULL YEAR FULL YEAR % CHANGE 2023 2022 CHANGE -40.4%
158
186
-15.1%
AVERAGE SALE PRICE
$1,320,005 $1,020,228
29.4%
$1,211,120
$1,185,880
2.1%
MEDIAN SALE PRICE
$1,100,000 $820,000
34.1%
$925,000
$872,500
6.0%
AVERAGE PRICE PER SQUARE FOOT
$711
$696
2.2%
$707
$625
13.1%
AVERAGE DAYS ON MARKET
73
59
23.7%
57
60
-5.0%
% SALE PRICE TO LIST PRICE
99.7%
99.1%
0.6%
99.9%
101.1%
-1.2%
TEN-YEAR MARKET HISTORY
Average Sale Price
$901,903
$1,028,489
$981,069
$1,030,294 $1,003,349
$959,215
$1,090,806 $1,088,265 $1,185,880
$1,211,120 Average Sale Price
Average Price/SqFt
$457
$495
$488
$492
$509
$480
$528
$548
$625
$707
Average Price/SqFt
Days On Market
155
138
128
130
166
141
148
114
60
57
Days On Market
%Sale Price to List Price
95.6
96.2
96.5
95.0
96.0
95.4
95.4
97.6
101.1
99.9
%Sale Price to List Price
GREATER GREENWICH CONDOMINIUMS SUPPLY DEMAND ANALYSIS AS OF DECEMBER 31, 2023
AS OF DECEMBER 31, 2022
2023 vs. 2022
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
SUPPLY: ACTIVE LISTINGS
DEMAND: PENDING SALES
SUPPLY/ DEMAND RATIO*
% CHANGE IN LISTINGS
% CHANGE IN PENDINGS
$0 - $999,999
7
8
1
14
7
2
-50.0%
14.3%
$1,000,000 - $1,999,999
4
9
1
8
4
2
-50.0%
125.0%
$2,000,000 - $2,999,999
1
2
1
2
2
1
-50.0%
0.0%
$3,000,000 - $3,999,999
0
3
0
5
2
3
-100.0%
50.0%
$4,000,000 - $4,999,999
1
1
1
1
0
Not Valid
0.0%
0.0%
$5,000,000 - $5,999,999
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$6,000,000 - $7,999,999
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
$8,000,000 - $9,999,999
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
PRICE RANGE
$10,000,000 and up
0
0
Not Valid
0
0
Not Valid
0.0%
0.0%
Market Totals
13
23
1
30
15
2
-56.7%
53.3%
*Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand
SOLD PROPERTIES YEAR-TO-DATE
01/01/2023 12/31/2023
YEAR-OVER-YEAR
01/01/2022 12/31/2022
% CHANGE 2023/2022
01/01/2023 12/31/2023
01/01/2022 12/31/2022
% CHANGE 2023/2022
$0 - $999,999
84
110
-23.6%
84
110
-23.6%
$1,000,000 - $1,999,999
54
48
12.5%
54
48
12.5%
$2,000,000 - $2,999,999
14
15
-6.7%
14
15
-6.7%
$3,000,000 - $3,999,999
4
9
-55.6%
4
9
-55.6%
$4,000,000 - $4,999,999
2
4
-50.0%
2
4
-50.0%
$5,000,000 - $5,999,999
0
0
Not Valid
0
0
Not Valid
$6,000,000 - $7,999,999
0
0
Not Valid
0
0
Not Valid
$8,000,000 - $9,999,999
0
0
Not Valid
0
0
Not Valid
$10,000,000 and up
0
0
Not Valid
0
0
Not Valid
Market Totals
158
186
-15.1%
158
186
-15.1%
Source: Greenwich Multiple Listing Service, Condominium
#
1 Brokerage in Greenwich
8 YEARS IN A ROW
R I V E R S I D E, C T · $ 1 0 , 9 9 5 , 0 0 0
GREENWICH, CT · $14,800,000 Luxuriate in resort-style living with pool, pool house, tennis, party barn & guest house. Maria K. Crowley | M 203.536.5534
1
1
9
3
5
Elegant shingle-style New England home built of the highest quality down to the smallest detail. Gideon Fountain | M 203.249.9978
4
GREENWICH, CT · $8,250,000
G R E E N W I C H , C T · $ 8 ,4 9 5 , 0 0 0 A rare opportunity to own one of the most esteemed homes in all of Greenwich, Connecticut.
Art collector’s haven offers live/work art barn on ten acres with pool and tennis court.
Joy Kim Metalios | M 917.620.9121
Debbie Needle | M 203.249.8617
G R E E N W I C H , C T · $ 4 ,4 9 5 , 0 0 0
GREENWICH, CT · $4,395,000
Renovated waterfront free standing three-bedroom Condominium with four decks, two car garage and elevator. Barbara Wells | M 203.912.5644
Picture perfect 4.2 acres boasts renovated six-bedroom Colonial with pool and tennis court. Spencer Sodokoff | M 203.257.4870
Source: GMLS, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023 total units of single family homes sold by company, Greater Greenwich.
/G R E E N W I C H C T R E A L E S TAT E
@A RO U N D G R EEN W I C H
@A RO U N D G R EEN W I C H
2 0 3 . 8 6 9. 0 7 0 0 · 2 0 3 . 6 9 8 . 1 2 3 4 · H O U L I H A N L A W R E N C E . C O M
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