Category: 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.

Condos a Vital and Growing Part of the Greenwich Real Estate Market

Condos have been quietly playing a bigger and bigger role in Greenwich. in 2012 condos were only 22% of our market by 2017 they had soared to over 36% of our residential market. Since 2012, they have continued each year to be over 30% of sales compared to single family home sales. Our contracts are up and we will see quicker condo sales soon.

Greenwich Real Estate Market Stays Busy in May 2020

The Greenwich real estate market is being driven not only by buyers from NYC, but also buyers in Greenwich that are looking to upsize in mid-country and backcountry. Sales are 13% while inventory is down 23%. Condo townhouses without interior common spaces are also doing well.

Greenwich Real Estate April Market Report

Up until April the Covid virus had had a limited effect on the Greenwich real estate market. In April we saw a decline in sales as people buyers didn't come out as much, however all of those that did were serious buyers. With 96 contracts we will continue to see sales in May.

HIGH-END & OTHER GREENWICH RENTALS What Does $50k/Mo Get You?

The Greenwich, CT rental market is up this year driven by the COVID-19 pandemic. House rentals over $10,000 per month have surged, while rentals of lower end apartments have actually fallen slightly as they don't provide the social distance that tenants are looking for.
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