While Greenwich, CT is certainly not your average U.S. town, it is important to keep track of macro trends. The U.S. Census Bureau released residential data for first quarter 2016. See chart below for historical sales trends in current dollars, and notice the long term trend up notwithstanding the surge and subsequent price correction. The United States population has a one person net gain every 13 seconds.
National vacancy rates in the first quarter were 7% for rental housing and 1.7% for homeownership housing, with a national homeownership rate of 63.5%. The homeowner vacancy rate was lowest in the suburbs (1.5%) and lowest in the Northeast (5.4) and West. Remain optimistic about your Greenwich housing investment.
This Sunday there are 91 Open Houses. As a reminder to all my new clients, when attending Open Houses be sure to simply sign in with my name and do not leave your personal information.