Friends, don’t ask me to explain it, but the Greenwich real estate market is doing just fine. Volume exceeds last year’s and prices are NOT dropping. They’re not rising, but they definitely aren’t falling.
The most astonishing fact? We brokers noticed a pick-up in showings the day after the elections! Buyers heaved a collective sigh and said, “Thank God, we’ll have more Democrats in Hartford, so now the state can really clean up it’s act!” Yeah,no, there is zero possibility that higher taxes, tolls, and new, burdensome regulations on businesses made anyone think Connecticut is now back on track.
In fact, if you want to be thoroughly depressed, read this short little item about poor old, over-taxed, deeply indebted Westchester, because this is exactly where we are headed: Westchester County Loses Triple A Rating.
No, Connecticut is surely continuing its steady trip down the drain, no doubt hastened by Governor-elect Ned Lament, therefore the Greenwich real estate market has ground to a halt…except it hasn’t.
P.S. 8 Willow Lane (seen above) makes an interesting case study: it came on September 18th for what, in my opinion, was a slightly elevated price, but I was sure it would sell for at least $950,000.
Instead, it goes $75,000 over ask, in an apparent bidding war! What’s so good about Willow Lane? It is a quiet little cul-de-sac off Sound Beach Avenue, located just past Old Greenwich Elementary School, walkable to train, beach, stores and restaurants. This house is a modest little bungalow, located at the very end of the street, perfect for pets, children, you-name-it.
And the most amazing fact of all, the contract was signed November 9th, three days past election day. This buyer said, “I don’t care, I STILL want Connecticut!”, to which I say HOORAY!