SHARE




Our July 2020 real estate market report, brought to you by Joy Kim Metalios, managing director and broker of the top real estate team in Greenwich, CT. Click here to watch the full video on our YouTube channel:  https://www.youtube.com/watch?v=XGZmQJHLhvw

Our first market report since COVID happened and a lot has been going on! When the first stay-at-home order happened in New York City, we had a flurry of people trying to get out of the city and rent in Greenwich, CT. Since then a lot of those renters have turned into buyers. Many New York City families were thinking of moving to the suburbs eventually, but this accelerated their plans. There is also the home buyer from New York City who is thinking, "you know what maybe I should get a country house... it makes sense in case something like this happens again; so I'm not rushing around trying to find an out-of-town rental.”

So, let's look at the data and see what's been going on in Greenwich.

In Greenwich:

  • Housing inventory down by 17%

  • Pending are up by 71%

  • Home sales are up by 12.5%

 In Riverside:

  • Housing inventory is down by 25% 

  • Pending are up by 70% 

  • Home sales are up by 10%

In Old Greenwich:

  • Housing inventory is down by 32%

  • Pendings are up 25%

  • Home sales are up 7.5%

In Cos Cob: 

  • Housing inventory down by 14%

  • Pending are up by 40%

  • Home sales are up by 40%

So what does all of this mean?  If you are living in town and you've been thinking about possibly selling your home in the future, now is a good time to reach out to The Metalios Group so that we can give you information about what's going on in the market and where the marketplace sees your house as far as value! If you are a buyer and you're confused, that's okay!  There are a lot of confused home buyers out there and we're here to help you navigate this new landscape. Whether it be to put your bid in the best light possible or just to give you some more information about the community. Or if you're looking to either rent so you can try out the suburbs or if you're interested in buying in the next few months or a few years we're here to be your resource for any real estate needs. So, we look forward to seeing you next time, and thanks again!