June Greenwich Real Estate Numbers

The average sales price this year is down 16% when compared to June 2010, though transactions are way up (up 57%).  Now remember, this is reflective of the April/May market as that's when most of these houses went into contract.  We should see another strong July, then traffic will tail off a bit come August/September as we move into the fall/school-year.The year to date numbers aren't as exciting, though I think that's just because we had a slow spring.  Buyers knew that they would eventually find a house and were being fairly selective in the process, which should result in a later spring surge.  I'm not paying much attention to the average sales price numbers as there hasn't been a significant change year over year.  We are seeing the most traffic in the lower price points, which is expected.  The number I am most concerned with in the coming months will be the inventory number.  Hopefully it will stay within this normal band, though if it picks up a bit we may see some pressure on the prices.