Writing on the wall?

55 Burning Tree

55 Burning Tree

I was looking for something else in the records and noticed this sale from March, 2008, for $2.1 million. Nice street, nice house, so the price isn’t surprising. Checking the history, though, shows that it sold for $2,187,500 in September, 2005. If that wasn’t the high water mark for Greenwich real estate prices, we have certainly dropped below that level now.

2 Comments

Filed under Buying/Selling Greenwich Real Estate

2 responses to “Writing on the wall?

  1. Philip D.

    Ouch! Or as my mother would’ve said, “Oy veh!”
    Those poor folks spent three years treading water, but had a lovely roof over their heads, and probably still do. The people I truly feel sorry for are drowning in homes worth less than their current mortgage.

    Chris, it’s time you revealed to us when this market will bottom. I don’t trust the Big Media savants to call this correctly, but I do trust you.

  2. knowledgeable

    If you owned shares in the financial market 10 years ago then today you are level or below. Only when the housing prices reflect that will we be safe.
    Remember that the worlds’ previous top earners will be earning before tax$200K this year. Not too many $10K monthly repayments to be made or taken on.
    We are all exposed and risk losing that dream of equity.