Good houses will sell

149 John Street (across from the Audubon) started at $4.2 million a long time ago and finally sold last year for $2 million. The buyer spruced it up (it’s a beautiful, antique house on 4 acres) and just resold it for $2.875.

10 Crescent Road, in Riverside, asked $1.275 and sold in 11 days for just that amount.

And 3 Hill Road, a really nice house, asked $4.950, sold in 35 days for $4.5. That was an excellent price, in my opinion. I do believe there is nothing wrong with this market that a fair – not bottom level, just fair – price won’t take care of.

6 Comments

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6 responses to “Good houses will sell

  1. anonymous

    It’s hard to believe that the changes that were made justified a
    $875k addition to the selling price in one year. I’m wondering if changing the address from Riversville Rd to John Street helped.

    • No, I agree, Anon. What happened, in my opinion, was that the original price was so high that the house was tainted (happens all the time) and the buyer got a huge bargain. So he put in a little money and got the price up to where it might have been had it been priced right to begin with.
      I’m not the only agent to preach this so it’s hardly an original insight on my part: overpricing kills houses. Just don’t do it.

  2. Don’t forget 7 Sachem Road sold in 3 days!

  3. Anonymous

    I love that the discrepancy between the $4.2 million ASKING and the $2 million SALE price is glossed over by most bloggers. Rather, there should be more significant price cuts in this inflated inventory. What is the assessed price and from what yr etc?

  4. Looking in Riverside

    Assessed value is meaningless in Greenwich. Most home trade above assessed. Apparently, the Town of Greenwich doesn’t need the tax revenue. The mill rate of 10.5ish should suggest the house prices are higher than neighboring towns.