Greenwich, CT

Greenwich

Beautiful Greenwich is home to a small set of some of the country’s most stunning waterfront properties. As a result, singular transactions can skew the data, as was the case in 2023, when the top property sold for $139M, with the runner-up at only $23M. Removing this outlier, 2023 would have seen an average sales price of just $14.2M. In 2024, we see a comparable average value at $14.7M. 

• In Greenwich, top-10 properties sell around $15M-20M, with singular outliers being the exception

• At 805 DOM, the highest of all US markets analyzed, expect to be extremely patient or price accordingly

• Top sales selling under 180 DOM average 100% of their listing price in final sales value 

In Greenwich, speed is the crucial factor

Greenwich has a long history of slow sales cycles. Average Days On Market (DOM) was far above US averages in seven out of the last ten years, with 2024 being no exception. On average, it took an astounding 805 days to make a deal come together, making it the market with the highest DOM average of all 56 analyzed across the US. More remarkable and indicative, however, is the 4th graph below. Sellers who closed a deal in under 180 DOM closed their transaction at 100% of their listing value. Those properties which took longer were in for a rough ride—besides the harrowing prospect of extremely drawn-out sales cycles, they also ultimately sold  23% below their listing price. The magical factor in selling a property in Greenwich is to sell rapidly and have a chance to secure favorable terms on the transaction.