Bidding Wars Are Cooling: What That Means for Greenwich Buyers (Summer 2025)

If you’ve been holding your breath for the market to calm down, this may be your window.

Multiple-offer situations haven’t disappeared, but they’re notably less common than a year or two ago. Recent survey data shows only 1 in 5 homes (20%) nationally received multiple offers in June 2025—down from 31% a year earlier and 39% in June 2023. That shift means less competition, more time to make decisions, and more room to negotiate price or terms.

The Data at a Glance

• National trend: Multiple offers on ~20% of homes (June 2025) vs. 31% (June 2024) and 39% (June 2023).

• Regional nuance: Not all markets move together. The Northeast still sees about 34% of homes drawing multiple offers (roughly 1 in 3), while parts of the Southeast are closer to 6%.

• Seller flexibility: Nearly half of sellers are offering concessions—covering closing costs, rate buydowns, or price adjustments—to get deals across the finish line.

Translation: Buyers today have more leverage than they’ve had in a long time.

Sources: John Burns Research & Consulting (JBREC), Keeping Current Matters (KCM), Redfin

Why It Varies by Region (and Neighborhood)

The simplest explanation is inventory. Areas with below-normal supply still see more bidding wars. Where new listings are improving or buyer demand has normalized, competition has eased. That’s why national headlines can feel out of sync with your local experience—micro-markets matter, especially in Fairfield County.

What I’m Watching in Greenwich

• Riverside & Old Greenwich: Always desirable for schools, train access, and village life. Homes with renovated kitchens, turnkey outdoor spaces, and walkability can still attract multiple bids—especially in prime school-year windows.

• Cos Cob: Solid value, great community vibe. Updated, well-priced homes move; over-ambitious list prices now face pushback and concessions.

• Mid-Country & Back-Country: Space, privacy, and amenities (pools, guest houses, acreage). Here, pricing precision + days-on-market tell you how aggressive to be.

• Downtown/Greenwich Avenue corridors: Lifestyle and convenience drive demand; condition and parking are decisive.

What This Market Shift Means for Buyers

• You can breathe. With fewer bidding wars, you’ll often have more time to evaluate a home and perform thorough due diligence.

• You can negotiate. Concessions are back—from closing cost credits to rate buydowns and inspection repairs.

• You can keep protection. Inspection, appraisal, and financing contingencies are more common again, giving you better risk control without losing the home.

Smart Buyer Strategies (Right Now)

1. Get fully underwritten pre-approval with a respected local lender. It signals strength and helps you move decisively when the right home appears.

2. Target “Days on Market” bands. Homes crossing key thresholds (e.g., 21, 30, 45+ days) are more open to negotiation—or creative terms like rate buydowns.

3. Ask about concessions up front. Don’t be shy about exploring seller credits, repair allowances, or timeline flexibility.

4. Use precise comps, not headlines. I’ll show you recent neighborhood-level outcomes (list-to-sale price, concessions, DOM) for your price band.

5. Stay deal-ready. The best homes still move quickly. Pre-inspect, review disclosures early, and have your offer package templated so you can click “go.”

What If You’re Selling and Buying?

• Sequence your moves. We can align your sale timeline with your purchase and leverage buyer-friendly terms (rent-backs, extended closings) so you don’t move twice.

• Prep for the microscope. Buyers expect transparency and tidy inspection reports again—pre-listing tune-ups are worth it.

• Price to the moment. Over-reach invites long DOM and concessions. Pricing to the market wins attention—and often nets more.

Bottom Line

If bidding-war anxiety has been keeping you on the sidelines, conditions have shifted. Competition is down nationally, and in many markets it’s down significantly. With more sellers offering concessions, buyers today have more power and flexibility than they’ve had in years.

The right next step is local: your micro-brief by price tier and neighborhood.

Get Your 5-Minute Greenwich Micro-Brief

I’ll send a concise snapshot tailored to your budget and timeline, including:

• Active supply & days on market

• Recent concessions and list-to-sale dynamics

• Neighborhood view: Riverside · Old Greenwich · Cos Cob · Mid-Country · Back-Country · Downtown

Message me “LOCAL” or contact me to get yours.

FAQs

Are bidding wars gone?
No. They’re less common, but the best-positioned homes can still attract multiple offers—especially when they’re renovated, priced right, and in prime locations.

Should I wait for prices to fall?
Timing the market is risky. Use today’s leverage (credits, buydowns, protections) to control your total cost and risk profile. We’ll run side-by-side scenarios for you.

What if interest rates change?
We can model payment sensitivity, lock strategies, and buydowns so your plan works across a reasonable rate range.