This was an older builder special POS from the 60s, located at the bottom end of Hillcrest Park just about on River Road which, while nice enough, has the same feel and tang of lower Bible Street in Cos Cob. Someone dressed it up this year with a new kitchen and baths, priced it at $1.2 million October 30th and already has a contract.
It’s not a bad house at all – I was going to show it to my own clients who are looking in that price range, but the speed with which it went makes me think that that’s where the market is heading. We’re seeing decent activity around $2.5, almost nothing much higher than that and not a heck of a lot below it until you hit the $1.1 – $1.2 range. I think that pattern will continue.