Fall’s real estate market in Greenwich thins out

Last week’s five real estate closings totaling $6.7 million reported to our local MLS showed us that the summer sales are pretty much over. Now’s the time that value buyers will enter the market and perhaps scoop up some bargains from disappointed or frustrated sellers. Properties sold last week included only three single-family homes and two multi-families. My “sale of the week” selection is a two-family Byram home that was bought by a local attorney eighteen years ago and marketed on and off again unsuccessfully starting five years later for roughly triple its original cost. With rental income over the eighteen years, however, it’s really the tenants who “bought” the house and it was sold for 39 percent more than its original purchase price.