May 24, 2024


Mad about real estate

Greenwich CT Homes For Sale: Beautiful Country.

Greenwich, Connecticut real estate and desirable places to live are all interlinked. Greenwich was rated 12th in the list of the 100 Best Places to Live in US compiled by Money magazine in 2005. Not only does it have the quaint New England charm that appeals to anyone seeking a quiet and attractive place to live, but it is also within reasonable commuting distance of Manhattan. In fact, tucked into Fairfield county right at the southwest limit of Connecticut, it’s the closest that you can get to Manhattan without leaving the state.

It is such a desirable town that a number of financial corporations including hedge funds have simply forsaken the hustle and bustle of New York City and set up their main offices in Greenwich. The 28 miles that separate it from Manhattan give Greenwich the edge over rival Connecticut town Wilton, a little farther away at 55 miles. Greenwich is also twice the size in surface area of Wilton, and logically, within its 50 square miles has twice the amount of real estate.

It is thanks to these strategic advantages that Greenwich real estate, even compared to the rest of Connecticut, is still climbing in value. Prices reflect the trend. Data from 2007 had the lower end of prices for single-family homes starting at $500,000, and going up to a top $12,5 million. As the market has continued to climb since then, these upper and lower limits have adjusted in consequence.

The influx of younger commuters, people that a decade or two ago would have been termed “yuppies” is making the market for sellers stronger and stronger. These newer arrivals are however selective. Their priorities lie with convenient access to shopping and facilities, and integration into neighborhoods of other like-minded people. With this in mind, homes that conform sell before construction has finished.

The Greenwich Post newspaper reports on the real estate market in Greenwich as being “bulletproof” and maintaining its momentum when all around are despondent in the wake of sub prime mortgages, excess of homes for sale on the market and difficulties in obtaining credit. Information on the average price for a single-family home shows a level of around $300,000 in 1983 climbing to close to $3 million in mid-2007. Apart from a plateau from 2002 to 2003 and a sharp leap upwards between 2003 and 2004, the overall trend is stable and resolutely positive.

As a finishing remark, Greenwich is also well supplied with all the amenities that one would expect of such a town. The tone is set by the number of schools with just short of a dozen primary schools and almost as many private schools, not to mention the middle and high schools. As Greenwich is also on the Long Island sound, there is significant variety in the recreational facilities that are both land- and water-based, with beaches and islands to complete the range of choices.

For more information you may also try the Greenwich Chamber of Commerce or a local real estate agent. They can both be essential in learning about the best parts of Greenwich to live.