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reenwich, Connecticut, is experiencing a real‑estate surge as affluent New Yorkers relocate to the area, a trend brokers attribute to the “Mamdani Effect.” After Zohran Mamdani’s mayoral victory in New York City, concerns over public safety and economic stability have prompted many to sell city apartments and buy homes in Fairfield County. Realtors report that open houses now attract three times the usual number of visitors, and prices are climbing sharply.
Mary Ann Heaven of Berkshire Hathaway in Greenwich says she expects “50 or 60 parties” at a colonial home’s weekend showing—roughly triple the normal turnout. “Every lot is desirable in Greenwich now,” she notes, adding that the town’s stability reassures buyers who fear the changes unfolding in New York.
Her husband, Marshall Heaven of M.H. Heaven Real Estate, agrees that the current wave differs from the exodus of the past decade. “These are families selling Manhattan apartments to move to Greenwich,” he says. He recently closed a $2.5 million sale, exceeding the asking price by more than $500,000, citing the influx of New Yorkers as a key factor.
Other agents point to the broader Fairfield County market, including New Canaan, Stamford, and Norwalk, as attractive bedroom communities. “The people leaving New York now are not the ultra‑rich who keep Manhattan apartments and buy second homes elsewhere,” Marshall explains.
Dimitry Melnikov, a local design consultant, describes the Connecticut market as “hot.” He recounts a friend who listed a house last Friday and received 90 offers by Monday morning, a pace he deems abnormal and detrimental to New York’s housing stability. Melnikov, who grew up in Belarus, warns that imposing a socialist‑style free‑bus policy on a capitalist city will not work.
John Antretter, a broker in Manhattan and Brooklyn, echoes concerns that Mamdani’s free‑bus plan could deter commuters. “If people feel unsafe sending their kids across town on the bus or must switch to private rides, that will be the top reason for moving,” he says.
The combination of safety fears, economic uncertainty, and the allure of suburban stability has turned Greenwich into a hotspot for high‑end buyers. Prices are soaring, and the market is “screaming,” according to Melnikov, who notes that homes are selling for far above their intrinsic value.
In short, the Mamdani Effect has sparked a significant shift in real‑estate demand, with affluent New Yorkers flocking to Greenwich and surrounding towns, driving up prices and saturating the market with eager buyers.
