Four houses closed and were reported today. 242 Pemberwick Road, north of Comly, sold for $920,000 after 3 years on the market, originally listed for $1,575,000, or 58% of ask. Meeting a more realistic fate was 35 Terrace Ave in Riverside, a 4 BR, 2 BA Riverside Tudor. It was listed at $1,795,000 and sold for 75% of its ask – $1,350,000 – in a short 6 months. On a rosier note, 9 Lockwood Drive in Old Greenwich sold quickly, very well priced at $1,299,000, out in a couple of months for $1.2MM
We’ll see how these lessons play out at 297 Round Hill Road, purchased just a year ago for $5.2MM after on the market for 2+ years, down from an original ask of $7.5MM. This gem on sale for what appears to be a breakeven amount of what-I-paid plus what-I-pay-the-broker plus what-I-pay-in-closing-costs.