Connecticut snagged three of the top 10 spots in a ranking of the 50 priciest home sale markets by ZIP code in New England, a new report shows, and it came as little surprise all three were on the state’s Gold Coast.
And all three were in the wealthiest town: Greenwich.
The Riverside and Old Greenwich neighborhoods came in the No. 3 and No. 4 slots, respectively, with one of the ZIP codes that splits up other parts of Greenwich, 06830, ranking sixth, according to the report by PropertyShark, a real estate data tracker.
As impressive as the rankings appear — Connecticut was the second-priciest state, behind only Massachusetts — the report noted a year-over-year decrease in median sale prices in the expensive Gold Coast ZIP codes.
The declines are a symptom of the soft real estate market for mansions with big price tags along the Gold Coast.
For instance, Greenwich’s Riverside — the most expensive Connecticut ZIP code and third-highest in New England — fell in a broader, national ranking, PropertyShark found. In 2018, Riverside was 49th nationally, but a 12% year-over-year decrease in the median sale price pushed Riverside down to No. 70 nationally in 2019.
Another Connecticut ZIP code — in the Cos Cob neighborhood of Greenwich — was hit hard by declining sales prices in 2019. The median plummeted 34% to $945,000 in 2019, from $1.4 million a year earlier.
As a result, Cos Cob barely made the top 10 for Connecticut, coming in ninth, and only a modest No. 33 in New England. Forget making the national listing.
So, wondering where else in Connecticut, you pay a pretty penny for a home? Here’s the top 10:
10. 06890, Southport (Fairfield)
Median sale price: $734,000
Median household income: $191,513
One fact: Southport’s Trinity Church, the second-oldest Episcopal Church in Connecticut, has occupied five different sites, including its present location since 1856. A tornado on New Year’s Day in 1862 toppled the steeple.
9. 06807, Cos Cob (Greenwich)
Median sale price: $945,000
Median household income: $148,095
One fact: Cos Cob, first known as Mianus, was named after a Native American chief. Settler John Coe built a seawall at the mouth of the Mianus River, referring to it as a “cob.” The area became known as “Coe’s Cob,” so the story goes, and the name evolved into Cos Cob.
8. 06880, Westport
Median sale price: $955,000
Median household income: $186,290
One fact: Sherwood Island State Park is often called Connecticut’s oldest state park. The first parcel of land was purchased in 1914, but it wasn’t until the late 1930s that critical tracts were acquired and the public given access.
7. 06840, New Canaan
Median sale price: $1.1 million
Median household income: $192,428
One fact: The Glass House, built in 1949 by architect Philip Johnson, is enclosed entirely by glass and is now part of a National Trust for Historic Preservation museum. Some architectural historians have said the house represents the forward-looking vision of a world without privacy.
6. 06853, Norwalk
Median sale price: $1.1 million
Median household income: $169,219
One fact: The historic Sheffield Island Lighthouse off the coast of Norwalk dates back to 1868. In the 1930s, there was a push to create a resort on the island, with a golf course and tennis courts. The venue was shut down in 1937 due to scarce fresh drinking water on the island.
5. 06820, Darien
Median sale price: $1.2 million
Median household income: $210,511
One fact: After the U.S. Civil War, wealthy New Yorkers discovered Darien’s picturesque shoreline and constructed summer homes in Tokeneke, Long Neck Point and Noroton.
4. 06831, Greenwich
Median sale price: $1.2 million
Median household income: $155,417
One fact: Greenwich is home to the state’s wealthiest resident, Ray Dalio, founder of Bridgewater Associates. Dalio’s estimated net worth of $18.4 billion makes him the 57th-richest person in the world, according to Forbes.
3. 06830, Greenwich
Median sale price: $1.4 million
Median household income: $109,250
One fact: Greenwich is the farthest municipality south and west in Connecticut and the six-state New England region.
2. 06870, Old Greenwich
Median sale price: $1.6 million
Median household income: $220,642
One fact: In 1640, Native Americans sold land to four English settlers in exchange for 25 coats, so the local history goes. One settler named the area Greenwich after his birthplace in England. As the settlement expanded west, the original area became known as Old Town. In 1872, in an attempt to attract summer tourists, the area was renamed Sound Beach. It carried that name until 1930 when the area was renamed Old Greenwich.
1. 06878, Riverside (Greenwich)
Median sale price: $1.6 million
Median household income: $182,386
One fact: Homes in Riverside were developed on tree-lined lots in the 1930s and 1940s, and Riverside boasted such literary residents such as Lincoln Steffens, Walter Lippman, Anya Seton, and Munro Leaf.
Sources: American Community Survey (2018); Greenwich Association of Realtors; Trinity Church, Southport; theglasshouse.org; New England Lighthouses; darienct.gov; forbes.com
Kenneth R. Gosselin can be reached at kgosselin@courant.com.
