By Oshrat Carmiel via Bloomberg
Greenwich, Connecticut, is having a moment. While home sales are sliding in Manhattan and Westchester County, the market in the tony suburb over the New York state line just had its best summer in six years.
Purchases of single-family houses surged 26 percent from a year earlier, the biggest jump for a third quarter since 2012, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. The median price of the 183 properties that changed hands rose 0.3 percent to $1.8 million.
Greenwich, home to many Wall Street executives, is benefiting from its relatively low property-tax burden compared with other New York City suburbs after federal law changes sharply curtailed deductions for many homeowners. Sellers there are also more primed to make a deal now, scaling back their lofty price expectations after years of overreaching.
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