Lies, damn lies, and statistics

GMLS is out with June data. My only caveat relates to “days on market; like the “ask to sell ratio”, that’s a number that’s easy to manipulate, and often is.

July 18, 2019 (Greenwich, CT) - The Greenwich Association of REALTORS® announces the statistics for home sales in The Town of Greenwich, CT for the month of June 2019.

There were 60 single-family residential closings reported during this period according to figures provided by The Greenwich Multiple Listing Service, Inc., the multiple listing service used by REALTORS® in the Greenwich area.
The number of single-family residential closings decreased, compared to June 2018 when there were 68 closings. The median sale price for a single-family home was a decrease to $1,900,000 from median sales price in June 2018, which was $2,005,000.
The average days on the market (DOM) for residential homes was 241 days; which was an increase from 209 days in June 2018.
There were 17 condo/co-op residential closings reported during this time period; which was a decrease from June 2018 when there were 22 closings.
The median sale price for a condo/co-op decreased to $679,500 from $806,250 the median sales price in June 2018.
The average days on the market (DOM) for condo/co-op residential homes was 143; which was a decrease from 225 days in June 2018.

"June 2019 had sixty closings and a median sale price of $1,900,000. Greenwich was the sector in town with the most closings, ending June with thirty-four sales; A thirteen percent increase from June 2018. Riverside was next in line with the most closings, ending the month with eleven sales. Condo/Co-Op sales had seventeen closings in June 2019 with a median sale price of $679,500. Pending sales as of 4:45pm Tuesday, July 16th for Single Family homes were 58 and 17 for Condo/Co-Op" stated John McAtee, 2019 President of the Greenwich Association of REALTORS®.