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Pandemic has revived Greenwich’s struggling housing market
Three times as many homes sold in November than they did in November 2019
The Greenwich housing market has made a U-turn since the coronavirus struck and is the strongest it has been in years, according to the Wall Street Journal.
Some 127 contracts were signed last month for homes in the tony Connecticut town, more than triple the number in November 2019. Other suburban areas around New York City have experienced an influx of buyers too, but not to the same degree. For comparison, Fairfield County and Westchester County saw 8 percent and 29 percent increases in contracts, respectively, over the same period.
Not surprisingly, prospective home buyers are looking for lots of space. Greenwich’s Back Country area, where homes typically have four or more acres of land, saw a 74 percent increase in third-quarter sales from the count a year ago.
[WSJ] — Dennis Lynch