77% Fewer Houses Sold In Greenwich In February

Redemptions are not the only thing frozen in the world of hedge funds. Seems real-estate transactions have followed suit. Only 17 single-family houses were sold in Greenwich in February 2009 compared to 75 last year. Perhaps the main factor is the resistance of sellers to lower the asking price, which had a median decline of only 2% to $1,762,500.

Other notable data: only 1 house sold in the "over $5,000,000 category", an 88% decline from the year ago period when 8 total such houses were sold. (via FWIW)