The Greenwich real estate market shows no signs of slowing down. The number of closed properties continues to climb while the number of price reductions continue to fall. Homes are selling with less days on market, closer to their asking prices. In part, because it sellers are taking the advice of their agents and pricing their homes more realistically than they were pre-Covid.
Serious sellers understand that this is a great time to sell and they don’t want to miss this market by overpricing their homes, allowing it to sit on the market longer than necessary.
Buyers are still coming here from NYC, in part due to the pandemic but another important factor is now playing a role. Crime rates in NYC continue to rise, giving NYC residents two strong reasons to leave.
Backcountry Greenwich continues to see an increase in sales. The majority of home buyers are less concerned with proximity to the train station then they were pre-Covid and most want large backyards and pools. Backcountry has been quietly waiting for its resurgence and that time has come.