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Thursday, July 17, 2008

07/17/08 Homes under $600,000 In Greenwich Suffered an 8 percent price drop


Rich Are Different

New York Post

By PAUL THARP

Last updated: 7:30 am
July 17, 2008

Posted: 3:17 am
July 17, 2008


Home values in the very rich enclaves like the Hamptons and Greenwich, Conn., are soaring in the double-digits, even as prices of less tony homes in those areas are crashing....

...Meanwhile, in Greenwich, home to hedge-fund billionaires and powerful CEOs, values are up 24 percent for the most expensive of the town's palatial digs, or those with prices starting at $5 million. That group's median price soared 24 percent to a median $9.03 million.

Elsewhere in Greenwich, the least expensive homes, or those under $600,000, suffered an 8 percent drop to a median of $498,393....

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