Greenwich is not entirely isolated from the economic struggles of the rest of the world as can be seen in the numbers, but they aren't as bad as they are in many other places. Yes, the average price of a single family home is down 10% from the same time period in 2008 ($2.56M this year vs. $2.82M last year). The median price is actually up 1% albeit dow 21% over all. The market is still creeping along slowly in the over $10M category, but the low end of the market is quite active. The $400K to $600K arena is actually up 32%. Sales are down 40% with 406 homes sold last year as compared to 245 this year. Bargain hunters are out in droves and well they should be. There are bargains galore; it just takes the right broker to ferret them out for you. I feel the market improving and presumably my next report will be very encouraging. Until then....
ZIP Code: 06830 Approximate Location Boundaries: Bound North & West by New York State, Long Island Sound to the South and Stamford, CT to the East.
Location Characteristics: Greenwich is a diverse community with beautiful parks, an outstanding public golf course, gorgeous beaches and one of the best public school systems in the country. With it's proximity to New York City, it is a home to the very wealthy, but that isn't to say that one with a modest income shouldn't consider Greenwich because there are homes for as little as $255,000. Property values tend to hold very well even in a lousy economy as we've been experiencing the past 18 months. Greenwich is truly beautiful; I live here and wouldn't consider living any place else in Connecticut.
About Ward M. Davol:
Ward M. Davol heads the Davol-Weber Group at William Raveis International in Greenwich. The group acts as a boutique team of real estate brokers under the umbrella of William Raveis, the largest real estate brokerage firm in Connecticut with offices throughout New England and affiliations worldwide. Ward holds a Broker's license in Connecticut, New York, New Jersey and The U.S. Virgin Islands. He has sat on the MLS Committee of The Greenwich Board of Realtors for over 10 years, is a member of both The Greenwich and Consolidated MLS systems as well as the Westchester-Putnam MLS and The Virgin Islands Multiple Listing Service. He was on the Board of Directors of The Connecticut Association of Realtors for 2003. Ward's name also appears in "Who's Who in Luxury Real Estate". Having grown up in Greenwich, Ward has a wealth of knowledge about the town; being part of a team of brokers assures Ward's clients that there will always be a broker available to meet their every real estate need whether buying or selling. Ward can be reached at (203) 869-2897.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
