Tuesday, March 10, 2009

77% Fewer Houses Sold In Greenwich In February

Redemptions are not the only thing frozen in the world of hedge funds. Seems real-estate transactions have followed suit. Only 17 single-family houses were sold in Greenwich in February 2009 compared to 75 last year. Perhaps the main factor is the resistance of sellers to lower the asking price, which had a median decline of only 2% to $1,762,500.

Other notable data: only 1 house sold in the "over $5,000,000 category", an 88% decline from the year ago period when 8 total such houses were sold. (via FWIW)

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Anonymous said...

not that it matters much, but those statistics are Year to date not for just Feb.

Anonymous said...

Actually, it matters a lot. You're comparing 2 months of sales (2009) to an entire year of sales (2008). Since most sales probably close in late spring this is meaningless.