Last week was a busy week for talking to reporters about Greenwich real estate.
You can check out In Greenwich, luxury rentals might be hotter than sales in the Real Deal by Suzannah Cavanaugh. Rentals have been particularly tight this year. For houses our inventory is down, but that hides a 60% increase in listings for 2021. It’s just those sales listings have been going off the market as fast as they are coming on. In the rental market, we haven’t seen a big increase in listing, but demand is up so the rental market is even tougher than the housing market.
In the Greenwich Time and the CT Post check out From Greenwich to Lyme, which CT towns are leading the real estate boom?, This is a really interesting article analyzing all of the municipalities in Connecticut. Greenwich was the big winner in most categories. One of the advantages of Greenwich is that it is the first town in Connecticut making for shorter commutes to NYC and for New Yorkers, they can hop across the border and still see their old friends knowing they are paying a fraction of the property taxes their New York friends are.
Home prices continue to surge in Connecticut, where real estate is already red-hot by Alex Soule – We are seeing real, and significant price increases in Connecticut. In previous years, what was characterized as a property increase in reality was often mostly just a desire for bigger houses. In 2021, we are seeing a clear drive to bigger houses in Greenwich and all Connecticut, but size independent price stats such as sales price per square foot and the sales price to assessment ratio are seeing double digit year over year gains. No matter how look at house prices are up.