One more spec house piles on

80 Lower Cross Road, new construction asking $1,000 per sq. ft. (including the basement, I presume) is listed today for $15 million. We now have 13 houses in the $15 million and above range. We’ve sold three this year and four last year. If you’re counting, with a handful of new $5 million and up listings today, we have 177 in inventory. Sooeee.

5 Comments

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5 responses to “One more spec house piles on

  1. anonymous

    Any thoughts on land and build quality of this spec? How does it compare to that ~$17 mill spec that sold on RHR?

    • christopherfountain

      Haven’t seen it yet, anonymous. I’m sure the quality is excellent (or I hope it is), but four acres on Lower Cross seems unlikely to be as good as 7 + acres on Round Hill. But again, I haven’t seen it yet, so I’ll reserve judgement. My guess is that, at this price, with this inventory, I’ll have plenty of time to make up my mind.

  2. Wally

    I don’t know if this is the right price or not, but I have driven by this house and it is beautifully done. I had assumed it was a custom build situation; frankly I am amazed that a builder did a spec house to this quality level. This land on Lower Cross is nice, but definitely not at the level of the lots closer to North Street that are part of Conyers Farm.

    Is it possible that this was a custom situation, and the owners are selling before occupying?

    • christopherfountain

      The builder does spec houses, Wally, so I assume it was always his intention. Glad to hear that the quality is so good. Most builders don’t believe this but I actually cheer for them when they do superb work. It’s just a shame that, because of timing, a lot of them have put far more into their projects than they can expect to get out. A shame for them a good thing for buyers. I’ve said it before, but when this wave subsides, it will be a long time before buyers will get the level of houses currently for sale unless they go custom. Of cours, so many spec houses today are built on crappy land, that’s a good thing.

  3. Accolay

    I wouldn’t pay 15 mil to be on the outskirts of Conyers Farm. Kind of like getting picked last for gym class, no?