So tell me who’s nuts

7 Sachem Rd

Bungalow in Cos Cob, perfectly nice house if you like this sort of thing, under a half-acre and asking $1.1 million (plus). Contract in 56 days.

546 North Street

5. 5 acres, asked $7.995 back in 2007, dropped to $3.495 and has also gone to contract. I realize that the buyer of a million dollar Cos Cob house doesn’t necessarily have the wherewithal to come up with three, but can’t you call Aunt Bertha?

10 Comments

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10 responses to “So tell me who’s nuts

  1. Cos Cobber

    what’s relevant here is supply and demand at each price point. clearly the supply/demand issue is far more out of balance to the supply side as you move up the pricing ladder.

  2. Stanwich

    That is really strong pricing on Sachem. Goes to show that there isn’t much in the lower end of the price spectrum in Greenwich.

  3. Anonymous

    No, what it goes to show you is that with government supported leverage for housing (ie conforming mortgages) you force the price up on houses that the middle class can afford through a de minimus downpayment (I guess only in Greenwich is $200k de minumus, but there you go) while houses that are “slightly” out of reach of the masses through free government subsidies aren’t increasing on the same slope.

  4. Anonymous

    Sachem asking $1,350,000 Actually had an accepted offer in 3 days and has been off the market ever since- Hum, both agents from the same firm. Makes you wonder

  5. Patrick

    Chris

    Technically speaking this has a Greenwich address. If you’re going to call this cc you should do the Sam for riverside..I.e north of post road. Same schools.

  6. Cos Cobber

    I hear there was a fair amount of interest in that Sachem house. It will be interesting to see that if they got above askiing price given they accepted an offer so fast. Its a beautiful street and a nice lot. Good curb appeal.

  7. Cos Cobber

    Patrick, Its a Greenwich zip, but Cos Cob schools and looks, feels and smells like Cos Cob. Its on the zip code boarder, as all houses are on this street.

  8. CF-Do your homework on Sachem Road. One home on Sachem Road sold for $1,750,000 and another one sold for $2,200,000 a few years back.Based on the fact that 7 Sachem Road was on the market for only 3 days,I think we have a strong market in this neighborhood.

  9. Just_looking

    As noted by others, do you have other “better” houses in that price range ($900 – $1.25)?

    • That wasn’t my point, Just Looking – I was just commenting on the incredible discrepancy between minimum Greenwich prices and what you can get for 3X more. yeah, that’s $2 million more, a number I’ll never reach, but sheesh!