The Metalios Group wanted to start this blog post by saying we hope you and your families are all safe and healthy!  We’d also like to note that we’re immensely proud of the resilience of Greenwich during these unprecedented times, and if anyone knows of any families or local businesses in need, please don’t hesitate to let us know - we’ll all get through this together (just 6 feet apart)!

While we’ve all seen a tremendous impact from coronavirus in our daily lives, we’ve also seen some major changes in the demand for homes in Greenwich, and we wanted to share some insights about the local real estate market with you.  

In the beginning of the pandemic, we saw many New Yorkers leaving NYC, coming to Connecticut for apartment and home rentals to escape the crowds of Manhattan.  A few weeks later, many of these renters turned into buyers, after realizing the longer term impact of COVID and lengthened stay at home orders.  After city living, many also fell in love with Greenwich - the homes, the outdoor space, fresh air, and wonderful community it offers.  Not surprisingly, we haven’t yet seen this trend slow down - many families that previously expressed interest in moving to the suburbs have since accelerated their plan to do so.  Others are looking for second or country homes to prepare for another COVID wave in the coming months, in hopes of avoiding another last minute scramble to leave the city.

If you’ve been thinking about selling your home, we can’t emphasize enough what a great time it is to talk with one of our team members about the opportunity to understand it’s value in the current market.  The Metalios Group is consistently closing for around 98% of listing price, and many of our recent Greenwich homes for sale have received multiple offers over ask (check out some of our recently SOLDS here).

If you’re looking to buy a home, we’re always thrilled to welcome in new Greenwich neighbors and show you how much we love living local!  We may be biased, but quarantining here hasn’t been half bad!  We know navigating the home purchasing process can be confusing even in any “normal” situation, and given the changing Greenwich real estate market we’d love to provide you with the support and tools needed to go about finding and making a fair offer on a home.  We have an entire team of expert real estate brokers who are happy to start the conversation and facilitate your move (here are a few of our recent listings!).

Lastly, please see below for a quick Real Estate Market update for the neighborhoods of Greenwich, to give you a quick idea of some of the trends we’re seeing comparatively to last year - full video version here.

Greenwich: 

Inventory down by 17%, Pendings up by 71%, and Sales up by 12.5%

Riverside: 

Inventory down by 25%, Pendings up by 70%, and Sales up by 10%

Old Greenwich

Inventory down by 32%, Pendings up by 25%, and Sales up by 7.5%

Cos Cob

Inventory down by 15%, Pendings up by 40%, and Sales up by 40%