The luxury real estate market in Coastal Connecticut continues to show resilience and potential, with properties in prime locations maintaining strong demand. As we head into August, the region’s upscale homes are attracting both local buyers looking to upgrade and out-of-state buyers seeking a second home or investment opportunity.
Market Trends & Insights
This month, the Coastal Connecticut luxury market remains active, with homes in desirable areas like Greenwich, Darien, and New Canaan experiencing steady price appreciation. The demand for homes with unique features such as expansive waterfront views, private beaches, and large estates is at an all-time high. With the pandemic shifting preferences towards more spacious and tranquil living, buyers are eager to find properties that offer both privacy and access to coastal amenities.
Sales Activity
While high-end properties in Coastal Connecticut are typically slower-moving due to their price point, we’ve seen an uptick in showings and offers. Particularly, well-priced homes that are move-in ready or recently renovated are seeing the quickest sales. The trend is shifting towards more modern designs, with many buyers opting for homes that combine luxury with functionality—think home offices, large outdoor living spaces, and energy-efficient upgrades.
Forecast for the Remainder of 2023
Looking ahead, experts predict the Coastal Connecticut luxury market will remain stable through the rest of the year, with some slight fluctuations depending on economic conditions. However, the enduring appeal of the Connecticut coastline, combined with low inventory and a high demand for premium homes, is expected to keep the market competitive.
Call or text Steve Schappert 203-994-3950
