Greenwich Real Estate Guy's Blog: Open House List October 17th

The 2021 3rd Quarter Market Report has been published. I think it is imperative to really understand the market so once one is ready to act they are in a position to know how to proceed. One of the many aspects of Houlihan Lawrence I love is that they are aligned in this belief, and invest in great analytical tools. This is what the CEO says about the 3rd Quarter Greenwich Market:

Robust demand for homes in Greenwich, Connecticut, continued in the third quarter but at a more normalized pace than the prior quarter. Home sales rose more than 2% as buyers struggled with fewer offerings and shrugged off homes they determined to be overpriced. Ambitious sellers are learning that buyers are happy to wait for price reductions before taking the plunge, while strategically priced homes experience bidding wars.

On average, it took only 87 days to sell a home in the third quarter - a 50% decline from a year ago - suggesting buyers remain poised to leap when the right opportunity comes to market. Continued low mortgage rates coupled with significant investment portfolio appreciation in the last few years have given home-seekers more buying power adding fuel to unit sales and pricing here.
The Cos Cob area experienced the most significant uptick in sales and price with a nearly 40% jump in closings and a 30% increase in median price as buyers found greater value in this centrally located part of town. Buyers and sellers in Old Greenwich raced to contract faster in the quarter than anywhere else in town in an average of just 38 days on the market! And homes that sold in Riverside in Q3 did so, on average, over their asking price. The top sales in the quarter were located in the Belle Haven peninsula, suggesting that luxury buyers love living close to, or on, Greenwich’s 31 miles of coastline. More detailed information on our market areas is in the pages that follow.

Houlihan Lawrence celebrated eight years in Greenwich during the quarter. We are inspired by the community here and grateful for our agents, loyal clients, and support team for making us the #1 brokerage serving this wonderful hometown. Thank you.

With Warm Regards,

Liz Nunan
President and CEO

Open House List October 17th

If you're still on the fence about which mortgage lender to choose, check out this helpful guide from Money Magazine: https://money.com/best-mortgage-lenders/.
Whether you want to compare brands, take a look at market projections, or see how COVID-19 has affected the current market, they analyzed all of the key aspects of choosing a mortgage lender so that you can pick the best one for your specific needs.

I have paid to allow clients to open up portals to see all listings as they come on the market real time to you, so feel free to search properties based on your own parameters or set up a portal to get notifications on a customized search. For readers that just follow on the Greenwich Patch I will not be posting all entries on the patch. You can read all postings at www.greenwichrealestateguy.com/blog.

Feel free to subscribe here to receive each post. Please do not hesitate to email (jrandall@houlihanlawrence.com) or call (203-273-1034) if I can assist in any way.

Best,

Jared Randall Join my Mailing List
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