There are three new houses for sale on Boulder Brook (just off Dingletown): # 9, asking $6.550 million, #33, asking $6.575, and #39, asking $4.998 million. Each is 8,000 sf, each has about the same amount of land and each, according to its builder, is well made (the competing builders would not agree). # 39 has fallen the farthest, fastest: it came on in April of this year at $8.595 million endured eleven price cuts in four months and settled, temporarily, at $4.998. It’s also for rent but that’s doing no better: originally asking $24,000 per month, it dropped $4,000 today.
The other two houses have stuck pretty close to their original asking prices of $6.875 (#33) and $6.750 (#9) respectively. I would think that, had the builder of #39 shown some solidarity with his fellow builders they might all have come out okay but as it is, I’d expect his $5.0 million house, or whatever he gets for it, to drag down the others. Financial woes can spread far reaching ripples.
