This spec house started life as an Ogilvy listing a year ago priced at $9.750 million. Buyers didn’t like its long driveway to a back lot, I guess, or perhaps its lack of a back yard (but a killer view of a small pond) and it’s price gradually fell. It’s been with Tamar Lurie for awhile now and she, too has been dropping its price so that today it’s down to 61% of its original price, or $5.975 million.
The other South Baldwin spec house, number 14, never sold for its asked price of $7.9 million (or was it $9 ?) and is now available through its lender, I think. Perhaps not, but it’s not looking like an immediate candidate for sale.
We did have 2 contracts reported today, the land on Round Hill and a 2006 spec house on Orchard that dropped over the years from $3.795 to $3.195 and probably fell to a buyer in the 2s. Bet that’s the last time for a long time that a builder will pay $1.5 million for Orchard Street property, eh?
All told, with those two contracts, we’re up to a whopping total of six for the month and we’re half way through. Time was when 18 contracts a week was about normal. Time was.