Connecticut’s Real Estate Surges as Affluent New Yorkers Flock to Buy Homes Amid the ‘Mamdani Effect’

Connecticut’s real estate market is surging as wealthy New Yorkers rush to leave the city, a trend that brokers are calling the “Mamdani Effect.” Towns in Fairfield County — especially Greenwich — are seeing packed open houses and fast-rising home prices.

The spike began after Zohran Mamdani won the New York City mayoral race. Concerns about public safety and economic instability are pushing families to look for more secure suburban areas.

Greenwich broker Mary Ann Heaven says turnout at open houses has tripled, with up to 60 groups expected at a single showing. She noted that buyers view Greenwich as steady and unaffected by New York City’s recent political shifts.

Real estate agents report that most incoming buyers are affluent couples in their 30s and 40s with children, selling their New York apartments and relocating to nearby towns such as New Canaan, Norwalk, and Stamford.

According to Marshall Heaven of M.H. Heaven Real Estate, this wave differs from past migrations. Instead of buying second homes, families are fully leaving the city. He recently closed a $2.5 million sale — more than $500,000 above asking — driven by New Yorkers seeking stability.

Some agents believe the movement is tied to Mamdani’s proposal for citywide free bus service. Critics argue the plan may create safety issues, prompting parents to move. Others say the Connecticut market is overheated, with homes getting dozens of offers within days.

Overall, the shift shows how policy decisions and safety concerns can reshape regional housing trends. If the pattern holds, Fairfield County could see record-high prices while New York City experiences a growing outflow of middle-aged families.