Low end stands firm

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44 Sound Beach Avenue Extension (NOPO) has an accepted offer after just 52 days on market, asking $775,000. That seems like a lot to me but I haven’t been keeping a close eye on this end of the market. A 1958 ranch that has had no improvements worth mentioning on its listing on a 10,000 square foot lot (it does have a full basement that looks to be bone dry). I had a listing on this street back in maybe 2005 or 2006 and we had a hard time selling it at $745,000. But here is this one, apparently selling for more than that. Good for the owner. I’ve long speculated what happens when the high end falls to the middle and squeezes the middle into the low. I’d guess that that would exert downward pressure on the bottom level, but perhaps there’s a floor.

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4 responses to “Low end stands firm

  1. Sound Beacher

    O/T again. Just out running errands and saw 7 sections of modular housing stored at the old Shell Station next to Staples in Riverside. No more fence around the abandoned property. Where are those modular pieces going? Go check it out, pls.

    • When I passed by yesterday there was a cop hiding between two of the units (well, he was in his car and his car was hidden). He didn’t stay there long – when I exited the A&P lot, he was just following in a mommy in her SUV with his lights flashing. Nabbed a cell phone user and saved humanity, I reckon.
      As for where the boxes are going, could be anywhere. I had a client just put up a modular in Havemeyer but this type of construction can be found in Old Greenwich, mid-country, etc. The builder needs a staging area where he can stash the different units until he needs them. I’m sure these will be gone and assembled within a few days.

  2. Cos Cobber

    The low end in CC, NoPo, OG and Riverside has been holding firm in the 650 to 800 range provided there is no overwhelming negative attribute (super small lot, busy intersection or adjacent highway/comm use, etc).

    Seems to me the western side of town; Pemberwick, Byram, Chickhominy has taken a whack with more sub 500 and 600 sales. Glenville does okay though.

  3. Cos Cobber

    Sound Beacher, send them all to 42 Riverside Ave. That guy has been waiting for by the mailbox looking for those pieces.