It’s too soon to tell. Year to date analysis doesn’t make much sense. The Spring market just started. Will the market take off? Progress slowly? Yield to other concerns? Or will it stick it’s neck out and make others pay attention! We are not sure yet.
Sellers need to protect their assets and not be pushed around. Stand your ground. Your home has considerable value simply by being in Greenwich. At the same time, look around, and seek counsel. You may own something quite special, but if you are not in sync with the market, you may need to adjust so others can see your beauty and make sense of it’s value.
Depending on where you are looking, buyers should be aware that conditions vary widely in Greenwich and in some parts traffic moves quite quickly, so don’t fly in without preparing and seeking guidance. Proceed carefully. The State of Connecticut wants buyers to seek counsel of buyer brokers.
The 85 residential closings in February were primarily located south of the Merritt Parkway and distributed from west to east and above and below the Post Road. There were 15 residential sales under $1.0 million, including condominiums and cooperatives. As for the single family market in Greenwich, Cos Cob, Riverside and Old Greenwich, 13 sales constituting 27% of the volume sold between $2.0 and $3.0 million. February 2018 Closings Report
Mary-Stuart G. Freydberg
20 years professional real estate advice.