Testing the waters in Byram

57 Byram Shore Road is a nice older house with, these days, “water views” (its land was long since divided). It was first offered for sale in January 2005 for $5.775 million. The seller must have received some honest feedback at her first broker open house because it was dropped to $4.775 million just a few weeks later. It was still too expensive and languished, slowly dropping to a final price of $3.950 and then expiring unsold. Six months later in June 2006 the owner tried again, this time at $4.495, apparently hoping that the intervening months had magically added $545,000 to the house’s value. Sometimes there is no magic and that was the case here – the listing expired again, still priced at $4.495 in November of that year. After some regrouping the house is back today for a third time, priced at $4.650 million. If the real estate market has improved since November, 2006, it escaped me here in Riverside. Perhaps Byram is different.

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Filed under Buying/Selling Greenwich Real Estate, Byram

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