To market to market and there to just sit

13 single family houses have gone to contract this year, compared to 66 in 2006 and 66 in 2005 during the same period (January 1-February 9).  If it’s any consolation to home owners, over-pricing before taking a bath is not a phenomenon new this year. 707 Lake Avenue went to contract in January 2005 and sold for its full asking price of $9,995,000, but that was only after being reduced from its November ’02 price of  $15,000,000. The builder, Aberdeen, probably still made money, but imagining that Greenwich buyers will pay any price to live among us swells is obviously a delusion that’s been around for awhile.

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