Are More NYC Buyers Moving to Greenwich After the Mayoral Election?

Recent headlines have raised a familiar question. Are New Yorkers leaving the city in larger numbers and driving renewed demand in Greenwich and surrounding towns?

With media coverage tied to the New York City mayoral election, interest rates, and broader economic uncertainty, buyers and sellers are understandably trying to separate noise from reality. To address those questions, Joy Metalios of The Metalios Team recently sat down to discuss what is actually happening in the Greenwich real estate market based on current activity, not speculation. 

The short answer is this. Demand is not new. What has changed is urgency.

Greenwich Has Always Been a Destination

Greenwich has attracted buyers from New York City for centuries. Long before modern commuting, people were willing to travel days to reach their homes here. Over time, transportation improved, but the core appeal stayed the same. Space, lifestyle, proximity to the city, and long term stability.

That context matters. The current moment is not the result of a sudden political or economic shift. It is a continuation of a long established pattern, now playing out in a market with far less available inventory.

Inventory Is the Pressure Point

The defining feature of today’s Greenwich market is not demand alone. It is the imbalance between buyers and available homes.

Even as more listings come to market, buyer activity continues to move faster than supply. Well positioned homes are attracting immediate attention, and competitive situations are common. In practical terms, this means buyers have fewer choices and less room to wait, while sellers are seeing stronger interest when they price and prepare correctly.

This dynamic is not theoretical. It is showing up consistently in day to day transactions.

Pricing Is Being Driven by Fundamentals

Home values in Greenwich have continued to rise, but not because of speculative behavior. The buyer pool here is distinct. A significant share of purchases are made without financing, which limits the impact of interest rate fluctuations that have slowed activity in other markets.

Buyers are making long term decisions based on schools, commute, lifestyle, and capital preservation. Those priorities tend to create steadier pricing patterns, even when national conditions are uncertain.

Greenwich Follows Its Own Seasonal Rhythm

Timing plays an outsized role in this market. Unlike many areas where spring activity ramps up later, Greenwich tends to move earlier in the year. Financial cycles and school decisions often shape when buyers are ready to act, which means competition can begin well before many sellers expect it.

At the same time, traditional slow periods have become less predictable. Recent years have seen continued activity during months that were once considered quieter. Understanding these local rhythms can make a meaningful difference in outcomes.

Why Local Context Matters More Than Headlines

Political events and media narratives often trigger renewed interest in suburban markets, but they rarely explain what actually drives results. In Greenwich, the fundamentals remain consistent. Limited inventory, qualified buyers, and long standing demand patterns continue to shape the market more than any single headline.

That is why local insight matters. Evaluating whether a home sold furnished, included flexible terms, or involved off market negotiations can change how pricing and value should be understood. These details are rarely visible in public data, but they influence results every day.

What Buyers and Sellers Should Consider Now

For buyers heading into 2026, preparation is essential. Waiting for a dramatic shift in inventory may not align with how the market is functioning. Opportunities exist, but they often require readiness and the ability to move decisively.

For sellers, low inventory continues to work in their favor. Fewer competing listings can mean more attention and stronger outcomes, particularly when timing and strategy are aligned with current conditions.

In both cases, informed guidance and local knowledge remain the real advantage.

Watch the Full Greenwich Market Discussion

This article highlights key themes from a recent conversation with Joy Metalios and The Metalios Team. The full discussion provides additional context, examples, and perspective that go deeper than what can be captured in writing alone.

You can watch the complete video on our YouTube Channel

For those considering a move in or out of Greenwich, understanding what is happening now, not just what is being reported nationally, is critical as 2026 approaches.

Read the full conversation transcript(optional)

Full Conversation Transcript
Below is the full transcript from our conversation about what’s really happening in the Greenwich real estate market. Light formatting only for readability.

Max: Hey, Joy.

Max: You've been in the news a lot lately. Are you famous? What's going on with that?

Joy: That's… you're funny. Well, yes. It has been an interesting few weeks. First, the New York Post, and then I didn't know it was going to lead to all this other stuff like the Daily Mail. And then that interview with Newsmax—just been interesting in the New York mayoral election.

Joy: And the headline has been, “Is everyone trying to flee New York City and come to Westchester and Greenwich?”

Max: Yeah, they're calling it the Mamdani effect. And since everybody is asking us about it, we figured we'd sit down and let you kind of explain what's really going on in the Greenwich market.

Joy: Yeah, I mean, listen—there's a lot of noise out there about the election, interest rates, and with the government reopening. So we thought it would make sense to cut through it all and tell you what's going on in the Greenwich market.

Max: So the big headline is that New Yorkers are fleeing the city and moving out to Connecticut and Greenwich. Is that actually happening?

Joy: Okay. Well, let's put this in perspective, right? Greenwich has always been a great suburb for people coming from New York City. Greenwich has been a popular destination since it was founded in 1640.

Max: Yeah, actually, Greenwich was founded in 1640 because I'm in Old Greenwich quite a bit and you can't miss the sign: founded in 1640.

Joy: Look at you, Mr. History. I'm impressed.

Max: Well, thank you. So I have a question for you, though. I'm going to see if you know the answer to this. Back in the 1800s, when people were coming from New York City to their homes in Greenwich, take a guess as to how long it took for them to travel from New York to Greenwich.

Joy: Ooh, back in the 1800s—no cars. No cars. Maybe like… sorry… maybe like six hours.

Max: You're going to do that six, seven thing. How long did you say? Six hours?

Joy: No, actually, it took two whole days. Yeah—because they were coming by horse and buggy. But it was worth it because they had these large homes that they would come for their summer vacations. They would go to the beach, they had farmland—it was just a beautiful place to be.

Joy: But after the railroad came in, then it would take about an hour and a half. And now it's only 45 minutes to travel from New York City to Greenwich. And that's why it's such a popular destination.

Max: Great. So let's talk numbers here. What are we really seeing in the market right now?

Joy: Yeah, October was interesting. We had 77 new single family homes come on the market, which was up by 38% from last October. So sellers are trying to take advantage of the fact that it's a low inventory market.

Max: And that's still not nearly enough inventory, right?

Joy: No—because pending sales were up by 50% and closed sales were up by 20%, which means that buyers are out in full force. And it means that every situation when a good house comes on the market could be very competitive.

Max: And you saw that firsthand with 10 Old Forge Road.

Joy: Yeah, definitely. I hosted two open houses on that property and there's over 60 groups of people that came through. I know we had eight offers on the home, and it ultimately sold for around $600,000 over asking price.

Joy: So again, with inventory so low, it means that prices have risen and year over year, average prices are up by 14%.

Max: So the Greenwich real estate market has their own seasons. And for people that are new to real estate out here in Greenwich, can you just explain those different seasons?

Joy: Sure. First let's talk about the spring market. People think spring starts in April. Our spring season actually starts after Super Bowl Sunday.

Max: And why is that? What's so important about Super Bowl Sunday?

Joy: Super Bowl Sunday is usually in February, right? And since we're very Wall Street driven and close to New York City, they get their bonuses—so people know how much money they're working with.

Joy: It's also when, if people are thinking of sending their children to private school, they get their private school acceptance letters and they need to make decisions. So then they come out to the suburbs and are trying to decide where they're going to live. It's kind of musical chairs—that’s when our home market churns.

Joy: Then there is the fall season, which has disruptions because of the holidays: the Jewish holidays, Thanksgiving, and then the December holidays. Summertime is usually quieter and that usually starts around Memorial Day. But this year was different—we were busy all summer long.

Max: Thank you for explaining that. Very helpful.

Max: We just got back from the Zillow conference and spoke to a lot of different team leaders from across the country, and unfortunately it sounded like a lot of these businesses in other parts of the country were down this year.

Joy: Yeah, it is interesting because different parts of the country are struggling with the rising interest rates. Greenwich has always been very unique in that sense, and I think a large reason is because we're so cash heavy. So we were very unaffected by the interest rates.

Max: And when you say cash heavy, what do you mean by that?

Joy: I would say 70% of my deals last year were actually cash.

Max: Great. Okay. And transitioning towards our team—while the rest of the country has kind of seen a down year, it felt like last year was a great year for your team. You all did over $227 million of volume. How are things going this year?

Joy: Very low inventory market with only 93 homes on the market. We're at $275 million year-to-date, which is much better than what we did in 2024.

Max: That's great. Wow. And how are you able to keep taking strides forward even with the low inventory?

Joy: A big part of that is—with a team as large as ours with 16 agents—we huddle every morning and try to find out what is off market. Because with so little inventory, we kind of know what might be coming on the market. Or we talk to so many sellers that are thinking of selling, but they're not quite ready. So it's a lot of matchmaking behind the scenes. That's how we've been able to make a lot of these deals happen. It's a lot more legwork, but we're able to make the matches happen.

Max: So let's wrap this up and talk about what people really need to know.

Max: New Yorkers are moving to Greenwich, but this isn't new. What's new is the urgency and the lack of inventory.

Max: Second, if you're thinking about buying, you can't wait for the perfect time with only 93 homes on the market. Hesitation might not be best for you.

Max: Third, if you've been thinking of selling, this might be your time because with so little inventory on the market, it means that there's going to be more eyes on your home, which could mean more offers and a higher price.

Max: And fourth, whether you're thinking of buying or selling, you need a team that knows this market inside and out. We have 16 specialists on our team. We know the off-market opportunities, and we also know the stories behind every sale—which can be so important. Sometimes a house is sold furnished, and sometimes a seller can stay back with a free rent-back for six months.

Joy: And you need to know the story behind every sale in order to evaluate the price there.

Max: So call us if you have any questions. We'd be happy to help. Thanks for watching everyone.

Joy & Max: This is Joy and Max with the Metalios Team, keeping you informed about the Greenwich real estate market.

Check out this article next

Things You Shouldn't Do When Buying a Home

Things You Shouldn't Do When Buying a Home

With a never ending list of everything you ‘should do’ when purchasing a home, it seems counterproductive to focus on what you should not do.…

Read Article