Understanding the 2023 Real Estate Market in Greenwich, Connecticut

As a Greenwich CT realtor with Compass, it’s my job to understand the real estate market in order to provide a smooth and successful process for you.

I’ve been helping my clients achieve their real estate goals since 2017, and I pride myself on knowing everything about the Greenwich area. As a Greenwich native, I’ve seen the market fluctuate in more ways than one, so you can count on me to give you my honest opinion. Even in times of uncertainty, I keep a pulse on where the market is at – and where it could be headed.

For the second year in a row, RealTrends has named Compass the #1 brokerage in the country by sales volume. Despite it being one of the more difficult years for the real estate industry, our brokerage has succeeded in selling more residential real estate than any other brokerage in the U.S. We credit this win to our standout ability to advocate for our clients, which we do by knowing all of the ins and outs of the local market.

Whether you are a first-time home buyer or a real estate investor, it’s important to do your research before making a final decision. Today, I’m sharing some expert knowledge and analysis on where, when, and how to buy and sell real estate in Connecticut.

What You Need to Know About the CT Real Estate Market in 2023

To put it simply, what you really need to understand about the Connecticut real estate market in 2023 is that it’s been unpredictable.

Facing the aftermath of the pandemic has not been easy for anyone in the industry, including buyers and sellers. As of this February 2023, our biggest struggle is a lack of inventory. It’s safe to say that it’s still a seller’s market, as the number of hopeful home buyers has not decreased much, if at all.

We still have buyers waiting in the wings, ready to pounce on new listings. However, we’re not seeing the same sense of urgency when it comes to putting in a final offer, compared to six months ago.

Pros of Selling a Home in Greenwich, CT

Because the market is seeing a dip in inventory, now is the time to list if you’ve been considering selling your home. Here are a few ways that you can make your listing stand out in order to make potential home buyers take that next step:

List with a Compass agent (wink, wink!)
Take care of updates & renovations before listing your home

List with a Compass Agent

The target market in Greenwich remains those looking to leave New York City behind for a more relaxed lifestyle. In addition to being named the #1 brokerage in the country, Compass also took the top spot for #1 brokerage in NYC for total sales transactions. This is a major advantage for my selling clients, given the large network shared between the CT and NY offices.

Aside from our incredible network of agents and buyers, we have access to the best marketing resources, which help attract your target audience.

Take Care of Updates & Renovations Before Listing Your Home

Specifically in Greenwich, we’re seeing home buyers (namely younger buyers) gravitate towards newer and/or custom builds. This is simply because of the cost of repairs and renovations, which is why I’d recommend taking care of updates and renovations before you list your home.

With the help of Compass Concierge, your home will sell faster and for a higher price. Before we list your home, I’ll go through my recommended updates and renovations – all of which will be fronted by our Concierge program.

Why You Should Search for a Home in Greenwich, CT

Don’t let a lower inventory stop you from starting your search! The pros of buying a home in Greenwich CT still outweigh any challenges in the market.

For starters, you can find incredibly designed homes full of character, whether they’re custom builds or fully-renovated homes. So far this year, I’ve helped my clients find both – take a look:

No details are spared when it comes to homes in the area. If your dream home checklist includes a spa-like bathroom, home gym, outdoor space, pool, or updated appliances, there is a 99.9% chance that Greenwich has a place for you.

If you’re looking to buy or sell in the Greenwich, CT, area, you’ll want an experienced expert realtor as your right hand – someone who you can trust to give you the green light!

My end goal is always (and has always been) to secure the best possible deal for my clients, A.K.A. I would never push you to settle for anything less than that. Even in a seemingly unpredictable market, I’ve closed over $8M worth of transactions in the first two months of 2023, with over $16M including homes that are in contract.

I provide my clients with a wide variety of resources, including:

Considering the move to Connecticut? Or looking to sell your current home? Reach out below to get started:

Contact Me!