Dead market – shh!

One contract reported today so far, the little brick house on Riverside Avenue, asking $999. The only sale reported was not the Round Hill spec house that sold Wednesday but a bungalow on Gregory sold Friday, in the low 9’s. Of interest, perhaps, among new listings is 82 Sawmill Lane, asking $2.5 million. It failed to sell at $2.250 in 2004 but back then its listing was limited to just 16 days. The current listing is a year, so I guess they’re serious this time. Of course, a serious seller might use 2004’s unsuccessful price a departure point downward, rather than a springboard to a higher price, but time will probably correct that.

3 Comments

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3 responses to “Dead market – shh!

  1. anon 1

    Shh. Stop waking me up Fountain! I was having a good nap. Wake me in 2011 when we are back at 1998 prices. Shh.

  2. Anonymous

    Im willing to bet prices stabilize (or go higher) before they go lower again. Doesn’t mean at offer price, but the spread between offer and actual price (say in % terms) will shrink first before widening again (probably late 2010).

  3. Anonymous

    Anon @2.33pm.
    Did you see the bonus pool figures already?
    My husband says that no lender is going near Greenwich, so you’re talking about cash buyers only. Lots of those around with spare cash after all of that high-life living we’ve all been doing.