Leave a Message

Thank you for your message. We will be in touch with you shortly.

NY Post – Nyers Cause Coronavirus Real Estate ‘Tidal Wave’ in CT (MP Quoted) - 05/23/20

Mark Pruner  |  May 23, 2020

NY Post – Nyers Cause Coronavirus Real Estate ‘Tidal Wave’ in CT (MP Quoted) - 05/23/20
 
Lia Eustachewich highlights the trend of NYC folks moving to Connecticut in this NY Post article. I get quoted about the NYC woman in the beautiful Park Avenue co-op who just doesn’t feel comfortable in her building; she is particularly afraid in the elevator, as there is just no way for her and family to socially distance.
 
 
The New York Post article is very well timed as this week we saw a new 2020 high for transactions with 43 properties going to contract or closing. This increase of 10 transaction week over week means this week is the busiest so far this year.
 
Last week we also had an increase of 10 transactions from the previous week when we 23 transactions. So from the first week of May to the third week. we had an 87% increase in transactions.
 
We are also seeing an increase in inventory finally. We are up to 557 listings, which is a nice improvement over 523 listings last week. This 6.5% net increase in inventory over last week is even more remarkable given that we had 43 transactions in the same week decreasing our inventory. Last year at this time we had 732 listing, which was a year with higher inventory and lower sales than average, But, even in 2018 we had 686 single family homes listing. We are down 24% from last year and 19% from 2018. (A hat tip to my brother Russ, who keeps a great site for current and historic Greenwich real estate data at RussellPruner.com.)
 
We still have a long way to go, but I’m guessing that with the nice weather and the decline in Covid cases that we are in that scene in movie where the dam is just starting to burst (see 0:10) Excepting some even more unforeseen circumstance, June looks to be a busy month.
 
 

Recent Blog Posts

Stay up to date on the latest real estate trends.

Market Report

Greenwich 2024 Condo Sales May Break an All-Time Record This Year

Market Report

Greenwich Real Estate in August 2024 – A lot like August 2023

Market Report

Greenwich Real Estate Prices Take Big Jump in 2024

But for How Much Longer?

Glenville

Glenville: A Great Place to Live, If You Can Find a House

Glenville has a lot going for it; it has Norman Rockwell downtown.

Market Report

Greenwich First Half 2024 Real Estate Market Report

Sales Fall, Inventory Up, Market Still Tight in 1st Half 2024

Market Report

April Sales Steady, High End Sales Down in April - 5/3/2024

Our April sales are just about the same as last year, which is remarkable given that our inventory is down 13% to a new record weekly low.

A living room with a couch, two chairs, a coffee table, and a painting on the wall.

selling

Things that Sellers Think Realtors are Lying About

The Lower You Price Your House the More Money You’ll Make

Market Report

Greenwich House Prices Take a Dramatic 22% Jump in Q1 2024

Real Estate Education & Tips

Accessory Dwelling Units In Greenwich
View All

Browse Properties by Area

Single- Family Homes | Houses | Condos

Old Greenwich Homes for Sale

Riverside Homes for Sale

Cos Cob Homes for Sale

All Greenwich Homes for Sale

Work With Us

We are a dedicated group of Greenwich natives. We have a deep passion for our hometown and enjoy everything the town offers its residents from the beach front to the backcountry. That is why we don’t find you just any home, we find you the right home.

Work with Us
FOR MORE INFORMATION ABOUT THE MARKET OR A PARTICULAR PROPERTY, CALL OUR TEAM OF EXPERTS OR FILL OUT THE FORM BELOW.
Contact Details

Russell Pruner

203.524.4998

[email protected]


Mark Pruner

203.969.7900

[email protected]

Dena Zarra

203.943.2357

[email protected]

 

Timothy Agro

203.461.5964

[email protected]

Felipe Dutra Leite

203.979.6452

[email protected]

COMPASS

200 Greenwich Ave., 3rd Fl 
Greenwich, CT 06830