The outlook for the third quarter of residential real estate firm William Pitt Real Estate LLC seemed to have great news for its brokers and their clients. After things looked pretty slow in the New England and New York markets over the last several reported quarters, sales volumes ticked up in quarter three of 2019. This was mostly single family homes that had sales closed on them, though higher priced multimillion-dollar homes also saw an improvement. For some counties, the higher priced home sales carried the way while in others it was the smaller markets that made up the leading sales volumes. CEO Paul Breunich attributed the better performance to the markets possibly stabilizing in the aftermath of the 2017 tax bill passed in Congress, and other local taxes that may have impacted the market during the same timeframe. He expressed optimism in that both the Fed’s interest rates and mortgage rates in general were still low.
William Pitt Real Estate LLC is one of the nation’s highest rated real estate brokers with additional recognition as an affiliate of Sotheby’s. Most of Connecticut and areas of New York and Massachusetts have seen strong market performances for more than six decades thanks to the great property valuations, innovative marketing strategies and quality price negotiations facilitated by the firm. Some of the most notable recent sales occurring through William Pitt Real Estate LLC have been a $7.2 million home in Scarsdale, NY, a luxuriously designed estate in Sharon, CT and a $5 million property in New Canaan, CT. The firm relies on the expertise of experienced sales agents and brokers, but they also have listing tools and advanced technology for sellers that give them estimates on what they can expect when putting their homes on the market.
The long history of million-dollar home sales and partnerships with developers, insurance agencies and mortgage lenders all began back in 1949 when the firm was simply a one-man business being run from a Stamford, CT hotel room. The man who founded it was William Pitt, though he had no relation to England’s former revered leader. But Pitt put years of work into the firm growing it from the small hotel room into several counties and bringing in some of the areas top agents. He would pass away before his firm merged with Julia B. Fee Real Estate and formed the current Sotheby’s network, but the values he built the firm on continue to this day.
While William Pitt Real Estate LLC may have put the needs of more affluent homebuyers and investors at the front of their mission, they are also committed to giving back to poorer communities around the world. As a member of the Agents of Change housing program, the firm contributes to and encourages donations to their current housing project in Morelos, Mexico. Through this project, they intend to provide housing and shelter where homelessness is rampant and the standard of living isn’t as high.