Greenwich Connecticut Luxury Market Insights
As a Greenwich, Connecticut realtor, I have a ton of experience selling a variety of homes, but luxury is one of my favorite spaces to work in. You might relate if you’re the sort of person who eyes the most expensive neighborhoods in all of Greenwich (I know, they’re stunning!).
For those of us who have our eye on the more luxe side of things, I’ve got you covered when it comes to buying and selling luxury homes throughout Greenwich — because you want an agent with experience when it comes to homes worth millions.
You know I can’t say enough about Compass and their elevated tools (exactly the quality and innovation you want when buying and selling luxury). Trust me: Compass’s 2023 Mid-Year Ultra Luxury Report is the sort of doc you’ll want to scroll through with your coffee in hand as you think about your (next!) dream home.
Read on to see some of the most impressive luxury listings I’ve sold in the past — and those currently on the market. Prepare to have your mind blown!
What is luxury in Greenwich, Connecticut
Living in Greenwich, luxury homes might look different than they do elsewhere. That’s why it’s a nice bonus that I’m a local — you’re getting my expertise as an agent, but also as someone who deeply understands these neighborhoods, where they’ve come from, and where they’re going. Luxury homes aren’t something to play around with; it’s a real expertise, and I’ve got it.
So what IS luxury? As an agent and Greenwich local, I’d define the price point for Luxury, through Compass, as technically $5M and up in Greenwich. Price point is, of course, shaped by location, finishes and details within the finishes.
I keep these keywords to help my clients better understand luxury:
Privacy — imagine gorgeous yards, long gated driveways and communities
Quality — think about high-quality materials and unique details
Amenities — maybe your dream home has a pool, a clubhouse, a home theatre, a basketball court, the list goes on
Security — it could be gated, it could have a high-end security system, or it could have a safe room (like one of my current luxury off-market listings has - keep reading for more info!)
Location — location, location, location. What’s nearby that pushes it to the next level?
My #1 tip for buying your luxury dream home in Greenwich CT
Always work with a local realtor. No one is going to have their pulse on the market quite like a local, and you have the added benefit of working with someone who also has a pulse on the neighborhoods — in this case, throughout Greenwich — that make the most sense for you. They should also, of course, be experienced in luxury and even specialize in it on top of being a local. As a realtor, it’s a totally different experience to list a luxury home than an average-priced home, so this isn’t the time to work with anyone who’s anything short of a true expert.
After all, something fun about luxury properties is that they often come with luxury neighborhoods, and who doesn’t want to be around the trendiest restaurants and coolest new spots? Say hello to a prime location, high-quality finishes, and premium privacy.
My secret to selling luxury properties
Since we’re friends around here, I’ll give you my main piece of advices about selling a luxury property in Greenwich:
Do your homework. What’s the state of homes in Greenwich? How’s your neighborhood? What compares to your home? What can you afford? Doing some research before you even start talking to a realtor will help you better explain what you’re looking for from the sale (even if you need a little hand-holding once the process kicks off).
Work with someone local: Like I said, local realtors are best. Get the inside scoop from someone who has a deeper understanding of the area and what buyers are hunting for in today’s complicated market.
Strongly consider staging. You know your home, and you probably love your home. But staging works magic by helping its future inhabitants imagine their own life there. Investing in staging is key for bringing in more — and higher — offers.
Pricing luxury homes — realistically. Try and maintain realistic expectations in regard to your sale price. We all have that pie-in-the-sky number, but your realtor is who will give you a realistic price based on their knowledge and expertise. Come to the table prepared, as there’s a chance that it might look different from what you had in mind.
Again, expertise, expertise, expertise. Your real estate agent will price it based on the comps and what is realistic to sell it in the current market. That’s exactly why you don’t want to skimp on working with someone who has years of experience right in Greenwich itself if you’re dreaming of buying or selling luxury homes in Greenwich.
The luxury housing market in Greenwich, CT in 2023
It won’t surprise you to hear that, like most industries, the luxury market was impacted by Covid and everything that followed. Buyers will come across a lot less inventory, plus very high demand as people shifted on their buying needs post Covid — this means there is a lot of new construction, too.
This can get tricky because, even though inventory is low, it can be so hard when you’re a buyer to give up any little detail. And I get it! You’re spending big bucks when you get to the luxury side of things, and who doesn’t have a list of everything that, in a perfect world, their dream house would include?
It’s tempting to ride it out until the perfect house hits the market, but it’s so important to balance emotions with what’s realistic. And, honestly, one of my favorite things about being a realtor is that we get to build a relationship of trust and authenticity so that we can work together and say, okay, what can we definitely NOT give up, but where can we compromise just the smallest bit? Trust me, it’s not all doom and gloom: we’ll find you that dream house. We just have to be flexible and thoughtful as we tour luxury homes throughout Greenwich and find out what your family’s needs really look like.
Some of my favorite luxury properties I’ve sold in Greenwich and up the line
Here are just a few of my absolute favorite luxury properties I’ve sold.
Bonus: current luxury properties in Greenwich, CT
Curious about a sample of the luxury properties in Greenwich I’m currently selling? Prepare to fall in love with 18 Simmons Lanes, a true stand-out of a home. You can buy as is or you can purchase it with work done. Either way, this is an extraordinary property in sought-after Greenwich with its generous square footage, ample bedrooms, and exciting potential. Be the one to discover this gem!
This next property is like nothing I’ve seen on the market in Greenwich. Every inch of the residence has been meticulously designed to offer an unparalleled living experience, harmonizing modern architecture with exquisite craftsmanship. The home is set to be completed in Spring of 2024. If you’re interested in learning more, reach out below for more information or to schedule a private tour.
Ready to talk buying or selling luxury homes in Greenwich, Connecticut? Let’s chat.