Spring is a special time in Greenwich, Connecticut. It's a season of rejuvenation that reminds us of the many reasons we live in this wonderful hometown. Our short commute to New York City, world class shopping and dining, inspiring schools, libraries and museums along with our majestic town parks and facilities make Greenwich a superb place to live, work and play.

As the first quarter ended, we saw a welcome uptick in real estate showings and deal activity, offering optimism after a slow start to the new year. Home sales and prices declined in the first quarter, as buyers remained on the sidelines until they perceived value in an asking price. Many buyers from New York City have had to tap the brakes on buying in Greenwich as they wait for buyers to purchase in The Big Apple. This domino effect also impacts our buyers from London who are dealing with the ongoing Brexit situation.

What's helping deals get done in Greenwich? Today's buyers respond to homes in tip-top condition that are beautifully decorated and priced strategically when they first come to market. As a result, motivated sellers are doing touch-ups, renovation work and even staging their homes if their decor choices don't match up with buyer preferences.

Highlights from the quarter include a modest uptick in sales in Greenwich North of the Merritt Parkway where declining prices have provided opportunities for buyers. Home sales in Old Greenwich jumped nearly 30% in the quarter and condominium sales began the year with a strong 20% increase.

There were two sales over $10M recorded in the Greenwich Multiple Listing Service in the quarter - a slight decline from year ago sales - and one notable off-market $48M waterfront sale.

As we look ahead we are encouraged by a recent uptick in the number of showings and negotiating activity. The continuation of low interest rates, a performing stock market and upbeat reports on mortgage applications are also signs of stronger home sale activity coming in the second quarter.