This smallish re-do off Benjamin Street came on asking $2.295 million awhile ago, which I thought a tad aggressive. The builder dropped its price to $2.095 and someone has agreed to buy it.
Still seems steep, but new construction is getting rare and the pickings leaner.
The builder of this place priced it at $7.8 million in July, 2008, and has grudgingly taken a few price cuts since then so it now asks $5.6 million. Better, but it still sits on just an acre of land, and now it’s two years old. These situations rarely work out well.
Witness the spec house at 10 Stillman Lane, for instance, that seems to have changed ownership and is now offered at $4.650 million, down considerably from its 2007 price of $6.450. I drove by it this weekend and noticed that its cedar shingle siding has sat unprotected so long it has begun to blacken. I’m sure that can be corrected, but a three-year-old empty spec house just doesn’t look as good as a new one. As this one’s new price reflects.