“Home offices with all the bells and whistles”



GREENWICH – Real estate brokers have had a very busy year in Greenwich so far, with record sales.

And it may not be over yet, as the strong demand for housing in Greenwich continues. The hot market might not last indefinitely, but real estate professionals say there could be a continued increase, based on recent home sale statistics.

“Things are still very active,” said real estate broker Sheryl Morrison. “The houses are still going fast. And the stocks are very low. She said her phone rings continuously, with potential buyers looking to buy in the Greenwich area. “I see the demand will continue next year,” she said. “These city shoppers are still coming. With the delta variant (COVID-19), people still look that way. “

Greenwich real estate commentator Mark Pruner agreed the market saw increased sales last summer.

“The demand is there, it is pushing up prices, which should spur more supply,” he observed in a recent assessment of market conditions.

Pruner said of recent market activity: “It’s amazing if we get more listings it will continue to be that way. “

The real estate database used by local brokers indicates that 1,100 sales took place in the 12 months from July 2020 to June 2021, a long hot streak for the market. July of this year saw 173 sales on its own, according to realtors.

The previous monthly record for home sales in Greenwich was in June 2011, when 114 homes sold, according to Pruner, in large part thanks to an increase in sales taxes. Backcountry and downtown homes saw the end of falling selling prices and significant rebounds.

Broker Roxana Bowgen said the disruption caused by the coronavirus pandemic has reshaped the Greenwich real estate market, as well as radically changed the way people work and create space for themselves.

Greenwich has seen a wave of new buyers, she said, and the trend could continue in the months to come. “It’s premature to say that things have slowed down, permanently. Time will tell, ”Bowgen said.

At Sotheby’s, she said, the firm had a banner year in 2020, and 2021 has already outperformed the year before. Year-to-date sales were 803 from 536 at the same time last year, up nearly 50%.

Many Bowgen clients were looking for homes that provided ample office space, allowing them to work from home.

“In addition to seeking fresh air and distance from neighbors, today’s shoppers prefer the lifestyle to commuting to work for high-paying jobs. Greenwich buyers want home offices with all the features, ”she said, as well as desirable local schools and amenities.

“I’m looking at these millennials, people in their twenties and thirties – they left town during the pandemic and moved to places where they grew up, and they’re happy. This is a whole new change that we are seeing, ”she said.

Especially in demand are energy-efficient houses. Bowgen said young buyers in particular have idealistic motivations to reduce their energy use and also like “smart homes” that they can use with their mobile devices.

Central Greenwich, Old Greenwich and Riverside are all in high demand, the Sotheby’s broker said. “People love central Greenwich,” she said, citing her attraction to the empty nets that can walk to Greenwich Avenue for shopping and dining. “And old Greenwich and Riverside are always popular with young families, they have the neighborhood vibe, you can take your kids to schools.”

Bowgen said the market has been disrupted by the pandemic, and like everyone else, people who sell homes for a living have had to learn new skills to adapt.

“Digital negotiations have been the norm since the world was turned upside down,” she said. “The digital economy is here to stay. We won’t be returning to closed, overcrowded office spaces anytime soon.


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