Greenwich Homes Sell for Upwards of $10 Million

Connecticut's Gold Coast is living up to its name, with a record $120 million sale of a waterfront estate in Greenwich leading an increase in sales of homes for more than $10 million.

The assessor's office in Greenwich says five homes sold this year for more than $10 million.

Berkshire Hathaway sales executive Mark Pruner says another home just sold and another four listed above $10 million are under contract this year. That's compared with only one under contract by this time last year and none sold.

Pruner attributes the rise in sales to the jump in the stock market and bonuses. He also says it could stem from concerns by buyers taxes will go up on the wealthy in nearby New York City.

Copyright AP - Associated Press
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