I see that 10 Blanchard Road, part of the Bailiwick development off Riversville Road, is back on the open house tour tomorrow, priced now at $2.995 million. In 2010 this house couldn’t find a buyer at $2.795. The listing expired at the end of 2010 and the house was off the market for six months until June, 2011, when it returned at $2.895. That didn’t work either, so the sellers have goosed it another $100,000, perhaps to convey the threat that if you don’t buy now, the price will only go higher later.
That strategy might have worked back when Greenwich real estate prices really did rise each year, but it seems a dubious plan for this market. But perhaps the sellers are right and we’ve witnessed a resurgence in western Greenwich values. I hadn’t noticed that phenomenon, but that doesn’t mean it hasn’t occurred. I’ve never sighted Elvis, either.