Greenwich home sales set to blow past 2020 record

Year-to-date sales just 20 shy of last year’s high

Tri-State /
Oct.October 13, 2021 06:00 PM
Greenwich home sales set to blow past 2020 record

Compass real estate agent Mark Pruner and senior managing director Elizabeth Ann Stribling-Kivlan (Compass, iStock)

The Greenwich housing market appears to know no bounds.

After home sales in 2020 topped the highest volume on record, demand this year has pressed on full steam ahead.

First-quarter contracts hit a 16-year high countywide, bidding wars peaked in mid-summer and figures from Compass’ third-quarter market report now show sales are on track to break 2020’s record.

Year to date, 1,041 houses, condos and co-ops have sold in Greenwich. Sales volume is 44 percent above this time last year and just 20 homes shy of the 1,081 sold in all of 2020.

Area brokers said remote work is at the root of demand.

“While New York City is not getting any closer,” said Mark Pruner, a Greenwich agent for Compass, “commuting time is shrinking, often down 60 to 100 percent for Greenwich buyers, as people don’t have to go into offices so often or at all.”

Greenwich was formerly a second-home enclave, brokers said, but lasting work-from-home policies have led buyers to scout the area for primary digs.

“Backcountry is now more en vogue,” said Elizabeth Ann Stribling-Kivlan, who oversees market data at Compass.

Heightened demand has pushed prices to fresh records, too.

In 2020, the average sales price for all home types in Greenwich hit $2.3 million; as of the third quarter of 2021, prices have already peaked around $2.5 million, their highest in 10 years.





    Related Articles

    arrow_forward_ios
    The Georgetown house once owned by Julia Child (Zillow)
    Georgetown home where Julia Child lived hits market for $3.5 million
    Georgetown home where Julia Child lived hits market for $3.5 million
    RE/MAX reaches record revenue of $91M with $25M net loss
    Despite hot market and revenue growth, RE/MAX loses $25M
    Despite hot market and revenue growth, RE/MAX loses $25M
    Zillow selling half of iBought homes, will buy back $750M shares
    Zillow selling half of iBought homes, will buy back $750M shares
    Zillow selling half of iBought homes, will buy back $750M shares
    (Getty)
    Weekly home listings hit record low
    Weekly home listings hit record low
    Alexanders will be metaverse’s first luxury brokers
    Alexanders will be metaverse’s first luxury brokers
    Alexanders will be metaverse’s first luxury brokers
    Richard Lampen and Howard Lorber
    Public relations: What’s next for an independent Douglas Elliman?
    Public relations: What’s next for an independent Douglas Elliman?
    More contracts signed in the city for more expensive homes (iStock)
    Manhattan condo signings jump 65% in November, led by priciest homes
    Manhattan condo signings jump 65% in November, led by priciest homes
    Skyline Tower in Long Island City and 200 East 83rd Street (Hill West, Rockefeller Group)
    Manhattan logs busiest month for new development sales since April
    Manhattan logs busiest month for new development sales since April
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...