Rental market getting hot?

72924_101_12Hotter than our sales are, certainly. This listing on Park Avenue in Old Greenwich was asking $6,900 per month and is reported this morning as rented for $7,500. There have been a number of over-ask rentals recently and, while I have yet to pull them together (later) it appears that there are more renters out there than houses. That’s good news for home owners if their carrying costs are low enough.

3 Comments

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3 responses to “Rental market getting hot?

  1. Michael D

    Chris,
    As you know when rentals go over ask, its usually because the term requested by the prospective tenants is less than a year, rather than crazy demand. Having said that demand is up at the moment in Old Greenwich and Riverside.

  2. fred

    its a summer rental -DA!

  3. Stanwich

    Fred’s comment would make sense. Not knowing anything except the location, makes me think that it is too high for such a humble looking abode (although great location).