Greenwich prices

A local realtor writes to inquire how many houses have sold this year at prices higher than their assessed value. I don’t have the exact figures but the average sale this year is 1.3 X assessed value versus 2.3 in 2005 (subject to confirmation per Pete the appraiser’s comment, below). Put another way, I’d estimate that 90% of the houses currently for sale in town are priced well above their assessed value and 90% of all houses for sale in Greenwich this year have not sold. Cause and effect? You decide.

Here is a photograph that might illustrate the principle at work here. San Marcos Square in Venice draws hordes of tourists, even in October. Responding to those crowds and the opportunity they present, the cafes lining the square have set up tables and offer a single espresso at 5.7 Euros (vs. 0.9 Euro on the mainland) 8.5 E for a cappuccino, and a 5.7 E per head “music charge” for sitting. We were there on a bright sunny day when tourists crowded the area and presumably would have liked a coffee while sitting and observing the scene. But with Greenwich’s own Mad Monkey in charge of pricing, the crowds did without. Wait ’til February, MM, when cold rain drives these people indoors – then you’ll have them!

No pigeons here!

No pigeons here!

5 Comments

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5 responses to “Greenwich prices

  1. libertarianadvocate

    Hmmm for a moment I thought that was Tom Torrelli in the Piazza San Marco

  2. What a great picture of your Mom and your brother. Very cool.

  3. Anonymous

    Lesson I learned in Florence…do not sit at the tables….Caffe is 2 euro if you hang at that barrista..any time of the day (7 euro if you sit at the table) ..big savings if you do not mind standing when you take your coffee.

  4. Anonymous

    and he looks so happy in that wheelchair……vibrant and pleased….