1998: $1.6 mil (direct sale). Today: $2.125

19 Dingletown Rd

19 Dingletown Rd

And that latest number is just the asking price (dropped today from $2.495). Adjust for inflation for the past 11 years, the commission that wasn’t paid back then, a little negotiation on this new price, and it’s 1998 all over again.

6 Comments

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6 responses to “1998: $1.6 mil (direct sale). Today: $2.125

  1. CEA

    Here’s a tidbit for you: from December 31, 1998 to December 31, 2008, the S&P 500 has DECLINED 11% (with dividends reinvested, the only fair way to do it).

    So a “lost decade” in stocks = a “lost decade” in housing.

    • christopherfountain

      Well inflation during those same years amounted to 29% so if housing can keep 1998 prices plus 29%, (Greenwich) real estate will prove to have been the better deal!

  2. Shifty

    CEA, u can add another 6%ish to that figure as January 09 was the biggest january decline for the s and p 500 since its inception.

  3. FlyAngler

    Yes, but the SPX (raw index) is up 5.2% for February thus far. I will stick her original #.

  4. SPQR

    Inflation calculator at: http//data.bls.gov/cgi-bin/cpicalc.pl ($2,085,153, to be precise)

  5. J

    I am actually looking for a house in Greenwich and have viewed this property. It has no curb appeal, has a painfully outdated kitchen, no real flow and tiny rooms, a dingy unfinished basement, and the backyard is full of wetlands. However, I’ve heard the sellers are motivated (nasty divorce). This house in my opinion is a definite fixer upper and worth 1.5-1.8 tops.