GREENWICH, Conn. -- The Greenwich Association of Realtors reported 41 single-family residential closings in November in its most recent report.
The number of single-family residential closings decreased by 4 percent percent compared with November 2013, when there were 43 closings. The median sale price for a single-family home increased to $2,317,500 from $1,712,500, the median sales price in November 2013.
The average days on the market for residential homes was 203 days, which was a big increase from 137 days in November 2013.
This year continues to follow the trends of last year, with each month besides January having a few less closings than the same period last year,'' said Barb McKee, 2014 president of the Greenwich Association of Realtors. "The median price is increasing as the markets over $3 million have picked up. We have little inventory of homes under $1 million.
"We anticipate the year to end with less than a 5 percent difference in closed homes from last year. We are running low on inventory of listings and buyers are looking for homes that fit their expectations."
The Greenwich Association of Realtors provides professional development and services for Realtors and represents the concerns and interests of private property and home ownership rights. The association has over 800 members.
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