Mark Pruner Archives

Greenwich Real Estate Sales Go Up in August – When They Shouldn’t?

Greenwich Sentinel·
September 9, 2023·

August 2023 was a peculiar month, but peculiar in a good way. We witnessed 64 sales in August this year, and what makes it peculiar is that our August sales exceeded the 59 sales in July. Most years, August sees a decline in sales compared to July, unless external factors disrupt the natural flow of seasonal sales. In 2020, that disruptor was Covid, we had 85 sales in July 2020 followed by a large jump to 108 sales in August 2020. What's causing this rise in Greenwich home sales in August 2023?

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High-End Houses in Greenwich in High Demand

Greenwich Sentinel·
September 1, 2023·

We have a lot of things driving our high-end market, a strong stock market, work from home making larger houses more in demand and more people who want larger lots with more onsite amenities. The lifting of travel restrictions means we are also seeing more buyers from Europe and Asia as some recent sales have shown. The U.S., and particularly the Greenwich real estate market, are looking like safer places to invest for overseas money.

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Greenwich Houses Sales Vary Greatly by School District

Greenwich Sentinel·
August 26, 2023·

We are at the lowest level for inventory this time of year. Where we don't have inventory to sell, we don't have many sales. Parkway, Glenville and North Street districts are where the sales are and where we have inventory. Cos Cob, Hamilton Avenue, Dundee and other districts are severely supply constrained.

The Greenwich July Real Estate Market Report

Greenwich Sentinel·
August 4, 2023·

You can look at the Greenwich real estate market as either an optimist or a pessimist. They both have valid points. Either way, it's a tight market with low inventory and quick sales.

In Greenwich It is Location, Location, and FAR

Greenwich Sentinel·
July 24, 2023·

Our zoning regulations have gone trhough a lot of updates over the years. We started with set backs and height limitations, then added floor area ratio. We also added green area regulations, drainage requirements and flood zone limitations. Know how these impact your property is crucial in figuring out what your property is worth in today's market.

What’s Selling & Not Selling in Greenwich

Greenwich Sentinel·
July 15, 2023·

The normal wisdom, about what is selling and not selling in Greenwich, doesn't apply when inventory is at record low levels. Things like age of the house and price range are not effecting most sales. Condition is however very important.

Greenwich Real Estate Ends First Half with a High-Priced Bang

Greenwich Sentinel·
July 10, 2023·

Despite record low inventory Greenwich sales jumped from last month. We had 10 sales over $5 million including the highest sale of the year at $15 million. Inventory continues to drop with each week since the beginning of May setting new weekly lows for inventory.

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Column: How COVID Changed the Greenwich Real Estate Market

Greenwich Sentinel·
June 16, 2023·

The COVID-19 pandemic posed unprecedented challenges for the Greenwich real estate market. The initial months of the pandemic brought about a decline in real estate sales in Greenwich. As the second half of 2020 unfolded, the market saw a remarkable turnaround. in September 2020, every subsequent month set a new, all-time record for monthly sales.

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Column: Condo Sales in Greenwich are Looking Good

Greenwich Sentinel·
June 9, 2023·

The last three years have lit a fire under the condo market. Sales are up from 159 sales in 2019 to 215 sales last year. Condo sales set an all-time high in 2021 with 274 sales. So far through May we have had 82 sales, which would be 197 sales for the year, which is exactly our average for the last 23 years.

Column: Greenwich Real Estate Inventory – How Low Can We Go

Greenwich Sentinel·
June 7, 2023·

Higher interest rates and anemic stock and bond markets are clearly hurting sales, but a lack of new listings is an equal, if not greater factor, in our sales being down 34% from last year.In Greenwich much of our lower inventory is due to gridlock. Many people who would like to buy a house can’t find anything to buy. Most of our buyers don’t use mortgage financing and the higher you go in price the less mortgage financing you see. Above $4 million, you do see people buying higher priced houses with low-rate mortgages, to free up cash for other investments.

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