Greenwich Homeowners Find Themselves at the Center of a New ‘Bidding War’ Boom

Greenwich, CT, homeowners are jumping into the housing market as demand for homes in the affluent Manhattan suburb has surged.

Democratic Socialist Zohran Mamdani won the New York City mayoral election Nov. 4, and some experts say his proposed tax and housing reforms have fueled a wave of residents ready to flee the Big Apple, in what they're calling the “Mamdani effect." 

In Greenwich, November has historically been sluggish—with just 14 homes listed in November 2024.

"Our market typically slows down around Halloween and comes to a halt from Thanksgiving to Christmas," Brian Amen of Houlihan Lawrence, who has worked in the area for 21 years, tells Realtor.com®.

However, he says this November has been busier than usual.

"We have a lot of eyeballs on properties because inventory is very low," he says. "There's some buzz that it has to do with the election, but I'm not seeing any substance behind those rumors yet."

Whether or not it's election fallout fueling the inquiries, agents are busier than normal.

Jenny Allen of Compass Realty in Greenwich says buyer demand, particularly from those relocating from New York City, continues to be strong, giving sellers a clear advantage.

"With limited supply and sustained price strength, now is an excellent time to list and capture maximum value for your home," she says. "I’ve noticed a clear increase in price opinion requests and inquiries from homeowners considering a sale."

Greenwich is a hot market

The median sales price in Greenwich is $2,975,000, which is 10.2% higher than the same time last year, according to the website Greenwich Realtors®.

Homes are spending less time on the market, dropping from a median 46 days on the market in September 2025 to just 22 days in October 2025.

While new listings spiked from 69 in September 2025 to 76 in October 2025, Amen says demand far outweighs supply.

"The market is really tight and competitive," he says. "I am seeing a lot of bidding wars right now with properties selling above asking, especially if they're listed in the $2 to $4 million price range."

Amen says people are dropping contingencies and submitting full-cash offers to gain an edge—and that there's a definite buzz around town about how hot the market is.

"People are always curious to see what a neighbor's property went for and how many offers they got," he says.

Dimitry Melnikov, owner of the Greenwich home interior firm Putnam Design, tells Realtor.com that his friend listed his house on Halloween and got 90 offers in just one weekend. "Everyone is talking about what's causing this whole commotion," he says.

Seller's market

It's tempting to list a property in a hot market like this one, but Amen says some Greenwich residents are still thinking twice, especially if they have to buy another property in this cutthroat environment.

"If you have to sell to buy, it's a tough market to buy in," he says. "It's the most difficult I've ever seen. That can keep people locked in place."

But if you don't have to buy another property right away, it can be a much easier decision.

"For those who have a flexible secondary residence, many are choosing to list now to take advantage of strong demand and limited inventory," says Allen.

Amen says many of the people who are taking the plunge are relocating to places like Florida.

"The ones who are staying local in Greenwich tend to be moving from high-end homes to top-tier luxury properties where bidding isn’t as fierce," he says.