More apples to apples comparisons

11 Colonial Lane

I’m not fixated on Riverside and Old Greenwich (in fact, I just emailed a new listing in the mid-country to a client) but the reported sales seem to be coming from those neighborhoods so that’s the news you get. This sale on Colonial Lane in Riverside is illustrative, I think. It just sold for $1.510 which is not a bad price at all. Colonial is a small dead end with almost identical houses built between 1958 and 1960. Easy walk to the schools and the train and a nice street, all in all. In 2002, number 4 Colonial sold for $1.2 million. In 2004, number 7 (remember, these houses are so close to identical that I don’t think any adjustments are necessary) sold in 10 days for $1.625. In 2005, after 7 DOM, number 15 fetched $1.960 million. Nothing since, except for a sale in the low 2′s last year, but that house had been renovated and expanded. So again, 2003 is looking like a benchmark.

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6 responses to “More apples to apples comparisons

  1. Out Looking In

    So what are your thoughts on the new Sawmill listing, looking for a cool 30% premium to 2003 sales price with a spruced-up kitchen? Last year didn’t bring a sale at $2.895, so up it goes by the cost of the new floor and countertops….

    • Well, Out Looking, I like the house itself from what I remember of it in 2009 but I didn’t like its price then and I don’t like its price now, new kitchen or not. But to be honest, i emailed its listing to a client today just as soon as it came on because there should always be negotiating room, eh?

  2. Anonymous

    so, do think this buyer got a good deal at $1,510,000?

  3. So, are you saying that this buyer get a good deal on 11 Colonial lane at that price?

  4. Out Looking In

    I figured that was the listing you sent, Chris. One would hope there is negotiating room, but you never know.