“Home offices with all the bells and whistles”

GREENWICH — Real estate brokers have had a very busy year in Greenwich so far, with record sales.

And it may not be over yet, as the high demand for housing in Greenwich continues. The hot market may not last forever, but real estate professionals say there could be a continued increase, based on recent home sales statistics.

“Things are still very active,” said real estate broker Sheryl Morrison. “Houses always go quickly. And stocks are very low. She said her phone rang continuously, with potential buyers looking to buy in the Greenwich area. “I see demand going again next year,” she said. “These buyers from the city always come. With the delta variant (COVID-19), people are still looking in that direction.

Greenwich property commentator Mark Pruner agreed the market had seen a surge in sales last summer.

“The demand is definitely there, it’s pushing prices up, which should spark more supply,” he observed in a recent assessment of market conditions.

Pruner said of recent market activity, “It’s amazing, if we get more listings it will continue like this.”

The real estate database used by local brokers indicates that 1,100 sales took place in the 12 months from July 2020 to June 2021, a long hot streak for the market. July this year saw 173 sales alone, according to estate agents.

The previous monthly record for home sales in Greenwich dates back to June 2011, when 114 homes were sold, according to Pruner, largely due to an increase in sales taxes. Backcountry and midcountry homes have seen the end of sales price slumps and big rebounds.

Broker Roxana Bowgen said the disruption caused by the coronavirus pandemic has reshaped the Greenwich property market, as well as dramatically changing the way people work and create living space.

Greenwich has seen a surge of new buyers, she said, and the trend could still continue in the months to come. “It is premature to say that things have slowed down, permanently. Time will tell,” Bowgen said.

At Sotheby’s, she said, the business had a banner year in 2020, and 2021 has already outperformed the previous year. Since the beginning of the year, sales have been 803 against 536 last year at the same time, an increase of almost 50%.

Many Bowgen clients were looking for homes with abundant office space, allowing them to work from home.

“In addition to seeking fresh air and distance from neighbors, today’s buyers prefer the lifestyle over commuting to well-paying jobs. Greenwich buyers want home offices with all the bells and whistles,” she said, along with desirable local schools and amenities.

“I look at these millennials, people in their 20s and 30s — they left town during the pandemic and moved to places where they grew up, and they’re happy. It’s a whole new shift we’re seeing,” she said.

Energy-efficient houses are particularly in demand. Bowgen said younger homebuyers in particular have idealistic motivations to reduce their energy use, and they also love “smart homes” they can operate with their mobile devices.

Central Greenwich, Old Greenwich and Riverside are all in high demand, broker Sotheby’s said. “People love the center of Greenwich,” she said, citing its appeal to empty net users who can walk to Greenwich Avenue for shopping and dining. “And old Greenwich and Riverside are always popular with young families, they have the neighborhood vibe, you can take your kids to school.”

Bowgen said the market has been disrupted by the pandemic and like everyone else, people who sell homes for a living have had to learn new skills to adapt.

“Digital negotiations have been the norm since the world turned upside down,” she said. “The digital economy is here to stay. We won’t be returning to closed, crowded offices anytime soon. »