Not needing “for sale” signs in wealthy suburbs

The Connecticut suburb of New Canaan is testing banning “for sale” signs:

The “trial ban” on real estate signs will run from July 1 to Jan. 1, according to Janis Hennessy, president of the New Canaan Board of Realtors.

The decision was made by members of the Board as well as the New Canaan Multiple Listing Service, “to further improve our already beautiful town,” Hennessy said in a release…

“Millennials and other potential buyers shop for real estate online and we believe they will be able to find New Canaan homes without these signs. We have seen how eliminating the signs has improved the look of other towns in Fairfield County without impacting the real estate markets. New Canaan Realtors believe it is worth a try here in the ‘Next Station to Heaven’ as well.”

The question of whether to implement a ban, such as a longstanding one in Greenwich, has been battered around New Canaan for some time. Saying the sheer number of ‘For Sale’ signs undermines the town’s attractiveness and ability of some property owners to sell, advocates for the change are cheering the decision.

There are four explanations provided or hinted for why “for sale” signs will not be allowed for six months:

  1. Younger homebuyers do not go driving around looking at homes; they look online.
  2. Other suburbs nearby already have a ban in place. New Canaan needs to keep up.
  3. Not having the signs makes the properties more attractive.
  4. There are too many “for sale” signs.

There may be a single underlying reason behind these explanations: the higher social class of residents in New Canaan. “For sale” signs may be gauche in a community that is one of the wealthiest zip codes in the United States (with Greenwich also as one of the wealthiest zip codes). Selling and buying property in a wealthy community does not have to be such a public event. The crass exchange of money for property is essential to American life but may be too prosaic to acknowledge in a place where residents could live in a myriad of places. Not making the sale as public (no signs plus pocket listings and listing only in certain places) may just add to the cachet of the community.

In a place where there are no “for sale” signs and where there may be limited community interaction (one of the findings of The Moral Order of a Suburb), there may be few indications that a property has changed hands. The cars in the driveway may change a bit and home repairs may happen here and there but the single-family homes may be more permanent than residents.

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