We’re pleased to announce our Third Quarter 2017 Market Reports are now available. These four proprietary reports, backed by our powerful data platform, provide the latest insights into the markets we serve and commentary from the local leaders who know them best.
Here were the highlights:
Luxury Market —
It may seem counterintuitive to spend substantial resources on a home that you’re leaving, but smart sellers understand the need to be competitive and stand out. An investment of time, money and energy prior to going on the market, coupled with strategic pricing once listed, is the best strategy to maximize the value of their home.
Homes sold in Westchester without a price reduction, sell on average in 55 days and at 99% of the list price vs. homes with at least one price reduction selling in 368 days and at 81% of the original list price. Those trends are echoed in Putnam and Dutchess counties. Pricing is, and will continue to be, key at all price points.
Greenwich North of the Parkway follows the trend of higher prices, with an average rise of 57 percent. But the area was also on-trend with fewer sales. Of note: the homes that sold, sold faster. Those homes also sold at a greater discount to their listing price. This is another indication that sellers need to be extremely strategic with pricing right out of the gate. Read more
Through the first three quarters, the number of YTD closed sales in Darien and New Canaan has increased by 27% and 31.3%, respectively, compared to last year. Even more impressive, the year-over-year number of closed sales in the third quarter increased in Darien and New Canaan by 64.2% and 42%, respectively.