Political uncertainty typically doesn’t bode well for business.

As the weather grows colder and holidays near, real estate sales slow down. But an extra factor some real estate experts believe played a role in Greenwich’s market this year was the presidential election. Not knowing what type of policies could soon come into play means some are more willing to sit on their hands and wait.

The impact of this attitude is difficult to quantify, said Joann Erb, executive director of Halstead Property's Greenwich Office, but it’s more likely that stances taken by state and town legislators rather than the president will affect the Greenwich housing market.

The contentious election didn’t seem to affect the number of single-family home sales in October, with almost 40 recorded, according to town records. That number is off only a few from a year ago, according to Erb. The real story lies in the significant drop in median sale price and number of days houses sat on the market.

The median price dropped half a million dollars and homes stayed on the market around 55 days longer when compared to statistics from last year, Erb said.

Real Estate Listings

Of the 40 home sales, most were close to town, with about 10 in central Greenwich, 13 in Old Greenwich and Riverside and a handful sprinkled throughout Byram, Chickahominy, Cos Cob, downtown, Glenville and Pemberwick. Further from town, four homes sold in the Backcountry section, where buyers have their pick of places and aren’t in any rush.

“Buyers aren’t jumping on anything,” Erb said. “Sellers still aren’t understanding that we’re in a status quo market. Prices aren’t going up. People think they should see a 10 to 15 percent increase in a few years, but we’re not. That’s reality.”

MBennett@hearstmediact.com, 203-625-4411; Twitter @Macaela

More Information

Top October home sales





76 Shore Road


Old Greenwich


144 Pecksland Road


Central Greenwich West


73 Sterling Road




5 Jofran Lane


Central Greenwich East


14 Long View Ave.




45 Birchwood Drive


Central Greenwich West


180 Shore Road


Old Greenwich


131 Old Mill Road


North Greenwich/Backcountry


15 Winding Lane


Central Greenwich West


14 Rockwood Lane


Central Greenwich West