The 2009 Greenwich real estate market has thus far slowed dramatically compared to 2008:

INVENTORY RECAP YTD thru 2009 vs. 2008

2009 ACTIVE median $ CONTRACTS median $ SOLDS median $
 Single Family        605 units $2,950MM 28 units $2,195MM 10 units $1.6MM
Condo/Coops 207 units $895K 7 $1.3MM 8 $715K
2008            
Single Family         63 units $1,8MM
Condo/Coops         17 $709K

Please note that not only did the number of units decline, but the median price is also diminished.  Lack of consumer confidence, job insecurities and mortgage difficulties all contribute to the problems facing today's Greenwich real estate market. 

If you can qualify for a mortgage, it's an incredible time to buy.  Please recognize the perfect storm that this market represents:  the lowest prices we've seen in years, lowest mortgage rates in 30 years and for first time buyers, an $8000 tax credit!