Greenwich home sales soared in second quarter

Home sales in the Greenwich market remained brisk in the second quarter, according to the latest Houlihan Lawrence Market Report for that town.

Home sales soared in all of the Greenwich area neighborhoods surveyed, with greater Greenwich posting an 87.3% increase. Sales were up 81.3% in Cos Cob, 93.3% in Riverside and 72.4% in Old Greenwich. Median sale prices were up in all but the Greenwich market south of Post Road.

Low inventory and high demand kept the market tilted in favor of home sellers, but strategic pricing remained a critical pillar of a successful sale.

The realty noted that due to the Covid-19 pandemic, year-over-year comparisons may be skewed.

“As the economy reopens and commuter lots at our four Metro-North train stations slowly begin to fill daily, we”™re all adjusting to life in a post-Covid world,” said Liz Nunan, president and CEO of Houlihan Lawrence.

“Many buyers today are people who scrambled out of nearby New York City to rent when the pandemic was first recognized as a global health crisis a year ago.”

Nunan noted that sales along the coast attracted the most buyer attention in Greenwich. Home sales south of the Post Road spiked more than 300%. Homes in Riverside sold on average at or above their asking prices. Nowhere in town were there quicker sales than in Old Greenwich, with average days on the market of just over 60 days.

Last week, Houlihan Lawrence announced that its Greenwich and Riverside offices surpassed $1 billion in sales volume in the first six months of this year. Last year, it took 11 months to achieve the billion-dollar mark.