Five sales, two contracts reported so far today on open house day. I refer to these as “shelter” deals, because no matter how bad the economy, no matter whether there is a 20% confidence gap, ya gotta live somewhere, preferably somewhere that can be purchased on an insured mortgage. One, 446 Valley Road in Cos Cob, actually sold in a bidding war – asking $525,000, got $540,000 or $270 a square foot.
423 Stanwich, on the market since Warren Buffett was a little boy, is in contract today. Originally asking $5.7 million back during the Sydney Olympics, will likely be south of the current $2.4MM ask. Nice land, the house……….a bit confusing