Portrait by William Taufic
If you’ve tried to buy or sell a home in Greenwich lately, you already know that the rules of the game are changing. Fast.
The days of leisurely browsing listings and mulling over an offer are long gone. Today, it’s all about speed, strategy and—if you’re lucky—cash. With fewer than 90 properties on the market to start the year (compared to the 450 that used to be standard), buyers are scrambling, sellers are calling the shots and off-market deals are more common than ever.
In this month’s “State of Real Estate” (page 68), writer Chris Hodenfield breaks down what it really takes to compete in this frenzied market. From speed sales closing in under 48 hours to brokers negotiating high-stakes bidding wars, we take you behind the scenes of our red-hot housing market.
For those looking to buy, the message is clear: Be ready. Mortgage contingencies? Not ideal. Preapproval? A must. And if you’re in the under-$4 million market, prepare to move at lightning speed. As one broker put it, “You’ve got to be ready to fly.”
And sellers? Well, let’s just say this is your moment. But even with the advantage, the process isn’t as simple as picking the highest bidder. With so many transactions happening off-market—where discretion is key—having the right connections and strategy can make all the difference.
Beyond the fast-paced deals and soaring prices, we also explore the larger trends shaping Greenwich real estate. We look at how legacy wealth is fueling family trust purchases, why luxury townhomes are the new “Holy Grail” for downsizers and how shifting buyer preferences are redefining what’s considered hot (hint: bright interiors, high ceilings and seamless indoor-outdoor living).
And then there’s the Zillow factor. The once-helpful listing site has sparked controversy by steering buyers toward agents who may have never even set foot in Greenwich. We unpack how this is reshaping the industry, and why savvy buyers are bypassing the algorithm to go straight to the source.
Whether you’re in the market, just curious or simply love a good inside peek at the housing scene, we’ve got plenty to dig into.
Cristin Marandino