Lack of inventory in the lower half of the market drives prices up

35 Highview Ave

Priced at $1.650 4/15/11, accepted offer in 12 days and today a full contract. Astonishing, in one sense, but if you look at what’s available south of the Village in this price range, not so  surprising.

5 Comments

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5 responses to “Lack of inventory in the lower half of the market drives prices up

  1. xyzzy

    South of the village has gone nuts. Was I imagining it or did a $7 million home come on the market and sell in less than a week on Biney Lane. And it didn’t have a water view.

  2. Anonymous

    OG is one of the few places in America where houses are selling at 2006 to 2008 prices.

    Maybe Greenwich *is* different.

  3. xyzzy

    A person who lives on Binney told me last week about the listing and then I saw them over the weekend and they told me it had sold.

    We’ll see if it shows up in the listing!

    • XYZZY, it could very well have an accepted offer, which means there are some contingencies attached (inspection, mortgage, perhaps, etc.). While our board is apparently asking that we report accepted offers many brokers, and I was one of them back when I had listings and before that rule, didn’t report them until contracts were signed and all contingencies met because showings die after an “A/O” is reported and many accepted offers fizzle. That was then – I really don’t know whether the new rule is a request or a command, but I wouldn’t be awfully surprised if some brokers aren’t reporting A/Os, and I wouldn’t blame them.