Greenwich Home Sales Surge Within $3 Mil.-$6 Mil. Pricepoint

Dirt placeholder

If you’re a first-time homebuyer looking for a single-family dwelling under $2 million in Greenwich, Conn., chances are you might have to look beyond the borders of this affluent bedroom community situated 30 miles from Manhattan.

The lack of inventory for these more affordable properties has caused a decline of 32% in second-quarter sales in this price range, with inventory having shrunk by 13%.

While the median sale price rose 11.7% to $1.7 million in the area, housing availability definitely favors those looking for properties in the $3 million-to-$6 million range, where market activity grew 90% in the quarter compared with last year. Houlihan Lawrence, the real estate firm that compiled the report, concludes the trend toward higher prices will continue.

Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Dirt News from Variety