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GREENWICH, CT - In our local real estate market, the temperature remains hot as buyer demand exceeds a limited supply of available homes. At the close of the first quarter, there were just 145 homes for sale, a 49% decline from the same period a year ago. The market is tilted in favor of sellers, with median prices rising 13% in the quarter. In short, it remains an opportune time to sell a home in Greenwich!

However, buyers have their pricing limits. Despite the headline-grabbing stories of properties that garner multiple bids and sell at or over the asking price, it’s important to note that 61% of the homes sold in Q1 sold at a discount to the asking price. Proper initial pricing remains the single best way to yield the highest selling price.