The real estate market was marked by low inventory and rising property values during the second quarter of 2024. Demand continues to outpace supply in certain areas of Greenwich, driving competitive bidding and notable increases in median sale prices. Seller reluctance to list, driven by a lack of inventory and hesitancy to trade their historically low interest rates, further fueled the listing shortage. Sellers remain firmly in the driver's seat, benefiting from favorable market conditions and the potential for significant returns on their investments. Proper pricing remains critical. Overinflated prices risk rejection from savvy buyers who prioritize value. Sellers are advised to strategically price properties to align with market realities and buyer expectations to achieve success.
As we enter the third quarter of 2024, Greenwich stands out as highly desirable destinations for buyers. Our communities offer natural beauty, diverse housing opportunities, and a pleasant quality of life.
With Warm Regards,
Liz Nunan President and CEO
QUARTERLY MARKET OVERVIEW
GREATER GREENWICH
TEN-YEAR MARKET HISTORY
* Homes sold for 2024 are annualized based on actual sales year-to-date.
GREATER GREENWICH
SUPPLY DEMAND ANALYSIS
SOLD PROPERTIES
$10,000,000 and
Source: Greenwich Multiple Listing Service, Single-family homes
GREENWICH
NORTH OF THE PARKWAY
QUARTERLY MARKET OVERVIEW
TEN-YEAR MARKET HISTORY
* Homes sold for 2024 are annualized based on actual sales year-to-date.
GREENWICH
NORTH OF THE PARKWAY
SUPPLY DEMAND ANALYSIS
SOLD PROPERTIES
$10,000,000 and
Source: Greenwich Multiple Listing Service, Single-family homes
GREENWICH
SOUTH OF THE PARKWAY
QUARTERLY MARKET OVERVIEW
TEN-YEAR MARKET HISTORY
* Homes sold for 2024 are annualized based on actual sales year-to-date.
GREENWICH
SOUTH OF THE PARKWAY
SUPPLY DEMAND ANALYSIS
SOLD PROPERTIES
$10,000,000
Source: Greenwich Multiple Listing Service, Single-family homes
GREENWICH
SOUTH OF THE POST ROAD
QUARTERLY MARKET OVERVIEW
TEN-YEAR MARKET HISTORY
* Homes sold for 2024 are annualized based on actual sales year-to-date.
GREENWICH
SOUTH OF THE POST ROAD
SUPPLY DEMAND ANALYSIS
PROPERTIES
$10,000,000 and
Source: Greenwich Multiple Listing Service, Single-family homes
QUARTERLY MARKET OVERVIEW
COS COB
TEN-YEAR MARKET HISTORY
* Homes sold for 2024 are annualized based on actual sales year-to-date.
COS COB
SUPPLY DEMAND ANALYSIS
SOLD PROPERTIES
$3,000,000
$8,000,000
$10,000,000
Source: Greenwich Multiple Listing Service, Single-family homes
QUARTERLY MARKET OVERVIEW
RIVERSIDE
TEN-YEAR MARKET HISTORY
* Homes sold for 2024 are annualized based on actual sales year-to-date.
RIVERSIDE
SUPPLY DEMAND ANALYSIS
AS OF JUNE 30, 2024
OF JUNE 30, 2023
SOLD PROPERTIES
$10,000,000
Source: Greenwich Multiple Listing Service, Single-family homes
QUARTERLY MARKET OVERVIEW
OLD GREENWICH
TEN-YEAR MARKET HISTORY
* Homes sold for 2024 are annualized based on actual sales year-to-date.
OLD GREENWICH
SUPPLY
DEMAND
ANALYSIS
AS OF JUNE 30, 2024
OF JUNE 30, 2023
SOLD PROPERTIES
$3,000,000
$10,000,000
Source: Greenwich Multiple Listing Service, Single-family homes
QUARTERLY MARKET OVERVIEW
GREATER GREENWICH CONDOMINIUMS
TEN-YEAR MARKET HISTORY
* Homes sold for 2024 are annualized based on actual sales year-to-date.
