The Greenwich real estate market is going into uncharted territory. After a near record August, September is continuing hot after a short rest for the Labor Day weekend.
- September will likely be a record with 157 contracts and sales so far this month
- Last year we had 46 sales for the whole month of September, as of 9/25/20 we have already had 95 sales and we will break 100 sales for the second month in a row
- We had a big drop for the 4-day Labor Day week, but transactions rebounded strongly the last two weeks.
- We have yet to see a fall drop off as sellers are continuing to supply inventory late in the year, but inventory is going off about as fast as it is coming on
- Inventory continues tight with 491 house listing versus 622 listings last year at this time a 21% drop
- High-end NYers are looking for weekend and bailout houses as Greenwich is looking more attractive than the City and is much closer than the Hamptons
- We have 67 sales and contracts over $5M this year compared to 39 sales and contracts as of the end of September last year an increase of 72%