Greenwich, Connecticut has already surpassed its previous record for luxury home sales this year, with three months remaining in 2025. Data compiled by Compass agent Mark Pruner and reported by Bloomberg show that as of the end of August, there have been 25 home sales exceeding $10 million in the area. This figure is up from 17 such sales during all of last year and marks the highest volume since records began in 1999.
Pruner attributed the surge in activity to factors including stock market performance and uncertainty over New York City’s upcoming mayoral election. He noted that while high mortgage rates have dampened home sales nationally, they have had little effect on buyers at the top end of the market.
Pruner projected that trophy home sales could reach a total value of $597 million for the full year, nearly doubling the previous record of $314 million set two years ago.
Some recent transactions highlight this trend: a 27,000-square-foot manor sold for $43.5 million, and a waterfront mansion less than half that size is under contract after asking $43 million. The property at 214 Clapboard Ridge Road sold for more than $43 million last month after originally being listed at $55 million; it was purchased just 42 days after hitting the market.
Michele Tesei, an agent with Houlihan Lawrence, told Bloomberg that inherited wealth may also be contributing to increased demand. She observed several couples under age 40 visiting the listing at 214 Clapboard Ridge Road.
“When I’m dealing with a high-end luxury property, I always advise the seller not to expect a quick sale — they have to be prepared for the house to be on the market for 200 to 365 days,” said Tesei. “We’ve seen sales way quicker than that.”
