Mark Pruner

Market Report: Home Sales Surge In June

Covid motivated sales continue to drive Greenwich sales. At the end of May we had 299 sales and contracts, then June came along and sales and contracts surged to 423 houses sold or under contract; an increase of 41% in one month. The story at the upper end is even more dramatic. Above $3 million we went from 68 sales and contracts at the end of May to 111 sales and contracts in June, an increase of 63%. By far our most dramatic jump was closed high-end sales over $5 million which are up 271% in just one month, but more about that later.

How the Coronavirus is Reshaping the Real Estate Market

How is the Covid virus reshaping the Greenwich real estate market? The short answer is in many ways. We are seeing significant rises in sales of houses on larger lots reversing the trend that we saw post-Great Recession. It looks like everything old is new again and larger houses with amenities on larger lots are back in fashion. Also, rentals may be returning to something more like the early 20th Century.