Greenwich market “above $5M”…how we doing?

162 properties priced at $4.995+ presently on the Greenwich market.

Ok, I’ll admit it, this is our slowest segment.  And it has been my experience that when Greenwich’s high-end is slow, so goes the rest of the state’s high-end segments (up in Fairfield, for instance, that would be the $1M+ range).

Why is this the case?  Probably a bunch of reasons, most falling into the category of “economic uncertainty”, both domestic and international. If you care to plow through Amity Shlaes’s most excellent book, The Forgotten Man, you will read about how President Roosevelt’s daily demonization of businesses, banks, and profits gradually eroded the confidence of the market and ultimately, people’s willingness to invest and put capital at risk. Happening again!

In the last six months or so, here’s what has sold in the $4.995+ range:

37 houses

2 land sales  One of these is broker Chris Fountain’s $6M (ask) deal on this North Street land.

487 North Street (the part for $6M). Called “Stuttering Breezes”..no, wait.. sorry, make that “Whispering Winds”. Broker Chris Fountain’s got it under contract, one of only two major land deals so far this year.

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