The first call came before breakfast. Then five more by noon. By the end of the day, Greenwich, Conn. real estate agent Joy Metalios had fielded so many inquiries from New York City families that she stopped counting.\u00a0<\/p>\n
As Zohran Mamdani surges ahead in New York City\u2019s mayoral race, city residents are racing to secure homes in the leafy, affluent enclaves of Connecticut and Westchester County \u2014 driven by anxieties over potential policy shifts that could reshape the local economic and social fabric.\u00a0<\/p>\n
Real-estate brokers in these suburban markets report a frenzy reminiscent of the early pandemic exodus, with properties vanishing in days amid fierce competition and all-cash deals that push prices far beyond expectations.\u00a0<\/p>\n
In Greenwich, long a city suburb for the well-heeled, available listings have dwindled to historic lows, hovering around 117 from more than 800 a few years earlier. It has fueled intense rivalries even for multimillion-dollar estates.\u00a0<\/p>\n
As Zohran Mamdani leads New York City\u2019s mayoral race, affluent residents are fleeing to Connecticut and Westchester suburbs, sparking a real estate boom reminiscent of the pandemic exodus. Getty Images<\/p>\n
This Greenwich, Connecticut home entered into a bidding war with 10 interested buyers. It ultimately sold for $570,000 over asking. Houlihan Lawrence<\/p>\n
Metalios, a veteran agent with Houlihan Lawrence recently navigated a sale at 10 Old Forge Road \u2014 a five-bedroom colonial on 2 acres with a sunlit kitchen and an expansive deck \u2014 that drew 10 offers after listing at $2.39 million in late July. It closed in September for $2.96 million, entirely in cash.\u00a0<\/p>\n
A renovated five-bedroom at 156 Old Church Road, with a sauna, a bar and indoor-outdoor flow fetched $4.82 million in summer \u2014 more than double its 2016 price \u2014 in another all-cash contest.\u00a0<\/p>\n
\u201cWe\u2019ve been seeing bidding wars, and we\u2019ve been seeing people come out of New York City,\u201d Metalios told The Post, citing that trajectory of the New York City mayoral race as a concern. <\/p>\n
The pace has accelerated unusually for autumn, a season typically slowed by holidays and school calendars. Metalios\u2019s team, which closed $227 million in volume last year across Fairfield County, has already surpassed $260 million in pending and completed transactions through the third quarter.\u00a0<\/p>\n
\u201cI haven\u2019t had a day off in a while,\u201d she said.\u00a0<\/p>\n
156 Old Church Rd more than doubled its 2016 price. <\/p>\n
Indeed, Greenwich medians reflect the heat: September sales hit $2.1 million, up 11.9% year-over-year, though volume dipped slightly to 49 homes amid scarcity.<\/p>\n
In Westchester, the Harrisons \u2014 Zach and Heather, Compass\u2019s\u00a0residential duo \u2014 listed a four-bedroom Quaker Ridge colonial at 21 Springdale Road in Scarsdale for $1.49 million on an October Thursday. By Sunday, it had attracted more than 75 viewings and 24 bids, ultimately contracting for more than $700,000 above ask.\u00a0<\/p>\n
The 2,638-square-foot home, with its open kitchen-family room flowing to a wood-burning fireplace and oversized deck, epitomizes the spacious, family-oriented appeal drawing city escapees.\u00a0<\/p>\n
At a recent open house in Scarsdale, Zach Harrison watched SUVs double-park down the block.\u00a0<\/p>\n
\u201cIt\u2019s like the Knicks at the Garden right now,\u201d he told The Post. \u201cOur open houses are the hottest ticket in town.\u201d<\/p>\n
\u201cIt is even crazier than it was during COVID,\u201d Heather added.\u00a0\u00a0<\/p>\n
21 Springdale Road found a buyer in a matter of days for more than $700,000 above asking.\u00a0 Courtesy of The Zach and Harrison Team<\/p>\n
County-wide data underscores the momentum: Single-family contracts above $1 million rose 15.4% from August through late October compared with the prior year, escalating to a 225% jump for homes over $5 million, per OneKey MLS.<\/p>\n
Showings per listing climbed 28.1% this fall versus midsummer.<\/p>\n
\u201cMany buyers are mentioning concerns about the mayoral election as a key driver,\u201d Zach said.\u00a0<\/p>\n
Buyers repeatedly voice worries about rising levies, public safety and urban livability under a Mamdani administration.\u00a0<\/p>\n
\u201cOne of the great things about Westchester County is we don\u2019t have a resident income tax in most of our towns,\u201d Zach said. <\/p>\n
In Greenwich, inventory has plummeted from over 800 homes to about 117. kirkikis \u2013 stock.adobe.com<\/p>\n
Keyan Sanai, a Douglas Elliman broker in Manhattan, described one prospective purchaser who demanded a price cut dubbed the \u201cMamdani discount,\u201d warning that values would plummet post-election, before halting the hunt altogether.<\/p>\n
\u201cThey told me, \u2018Prices are going to drop when he gets in. We\u2019ll either do the deal now or wait. We\u2019re not in a rush,\u2019\u201d he said. Days later, the buyer suspended his search entirely \u2014 planning to leave the city.<\/p>\n
Another developer paused a building acquisition, fearing a 20% value drop.\u00a0<\/p>\n
\u201cOne told me, \u2018If I buy now and this guy gets elected, it\u2019s going to be a raw deal,\u2019\u201d Sanai said. \u201cEveryone\u2019s either holding off or saying, \u2018Let\u2019s be out by Jan. 1, even if we sell at a loss.\u2019\u201d<\/p>\n
Buyers cite taxes, safety, and space, fearing Mamdani\u2019s proposed 2% millionaire tax and rent freezes. TTstudio \u2013 stock.adobe.com<\/p>\n
Frances Katzen, also at Douglas Elliman, sees affluent clients reassessing portfolios amid proposals for steeper progressive taxes and expanded social programs.\u00a0<\/p>\n
\u201cI definitely think there\u2019s a lot of emotion around this process,\u201d Katzen said. \u201cPeople are very concerned.\u201d\u00a0<\/p>\n
Some are decamping to the Hamptons or beyond, unwilling to risk school environments or investment stability.\u00a0<\/p>\n
\u201cThey\u2019re going to leave the city,\u201d she added, noting plans for universal childcare, fare-free buses, and municipal groceries funded by hikes targeting corporations and high earners.\u00a0<\/p>\n
260 Willow Street in Southport, Connecticut has already seen an unusual amount of interested buyers. Borgatta<\/p>\n
In Southport, Conn., Libby McKinney Tritschler of William Raveis observes a similar rush, with a harbor-side village drawing renters and buyers seeking breathing room.\u00a0<\/p>\n
Her $12 million listing at 260 Willow St. \u2014 a seven-bedroom waterfront compound with a guest house, a pool and bespoke millwork \u2014 has generated brisk interest, far outpacing pre-pandemic norms. The property logged four showings in three weeks, versus one every quarter previously.\u00a0<\/p>\n
Meanwhile, a six-bedroom Fairfield property at 971 Hulls Farm Road had a contract signed with a portion down within 24 hours to mitigate a bidding war. It was sold immediately after being listed for $3.87 million, with many backup offers. It had initially listed for $3.75 million.<\/p>\n
\u201cIt\u2019s feeling a little bit as it did when Covid first came about,\u201d Tritschler said. \u201cThere\u2019s been a lot of rumors over the last few months about the mayoral race in New York. I think there really will be a little bit of an exodus if the mayoral race goes the way they\u2019re claiming it will.\u201d <\/p>\n
971 Hulls Farm Rd in Southport, Connecticut sold just days after it hit the market. Raveis Real Estate<\/p>\n
Tritschler added that because of the low supply homes, New Yorkers are finding other alternatives. <\/p>\n
\u201cI\u2019m seeing some people even rent temporarily until they can find a home here,\u201d she said. \u201cThat\u2019s been a big piece of the puzzle lately.\u201d <\/p>\n
Agents emphasize that while election jitters amplify long standing grievances over crime and costs, the suburbs\u2019 allure \u2014 lower taxes, yards and perceived security \u2014 predates the campaign.\u00a0<\/p>\n
\u201cA lot of it has to do with safety. And just not wanting to raise our kids there,\u201d Metalios said.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"The first call came before breakfast. Then five more by noon. By the end of the day, Greenwich,…\n","protected":false},"author":2,"featured_media":21636,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[14451,98,2222,68,3440,14452,1023,75,1722,3280,9,24,55,54,56,1093,122,1491,3006,14453,255,768,1628,82],"class_list":["post-21635","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-agents","tag-brooklyn","tag-connecticut","tag-exclusive","tag-greenwich","tag-long-island-real-estate","tag-luxury-real-estate","tag-manhattan","tag-markets","tag-mayoral-race","tag-new-york","tag-new-york-city","tag-new-york-city-headlines","tag-new-york-city-news","tag-ny","tag-nyc-mayoral-election","tag-queens","tag-real-estate","tag-residential-real-estate","tag-sag-harbor","tag-the-hamptons","tag-westchester","tag-westchester-county","tag-zohran-mamdani"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/21635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=21635"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/21635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/21636"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=21635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=21635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=21635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}