Since a reader points out that my brother Gideon, a/k/a “The Kool-Aid Kid” takes me to task for, he says, erroneously asserting this proposition, I thought to waste a little time this morning to see what he’s been smoking. Result? I know where next year’s “Greenwich Realtor of the Year” award is going.
First of all, let’s dismiss most of Gideon’s “2o sales” in our fine section of town that went to contract since October 1st of 2011. No one – I wasn’t anyway – is talking about antiques built in 1802 or even 1905. I’m referring to the houses that went up in the post-war boom, and what I said about those is that they’ve fallen to land value only, because no one wants to live in them anymore.
Here are some numbers for houses built between 1945 – 1997
October 2011 – March 2, 2012
Yr. Blt. Address Sales/contract price
1956 10 Miltiades $875,000
1952 16 Pierce Rd. $999,000 (ask)
1954 25 Druid $1.095
1956 19 Weston $1.050
1958 25 Hearthstone $1.330
1954 44 Winthrop $1.250 (demo sign posted)
1954 25 Bramble $1.399 (ask)
1987 35 Chapel $1.450 (ask, bank sale)
8 Total
Now let’s look back to a sunnier time, 2002 through 2006 . I chose just 3 streets to compare: Bramble, Druid and Hearthstone because they adjoin each other, they were all built around the same time and I really don’t care to spend my entire morning on this.
1954 39 Bramble $965,000 2002
1957 31 Druid $1,070,000 2002 (bidding war)
1957 15 Hearthstone $1,170,000 2002
1957 48 Druid $1,235,000 2003
1952 16 Druid $1,230,000 2003
1952 42 Bramble $1,540,000 2003 (renovated 1993)
1953 28 Druid $1,300,000 2004
1956 50 Bramble $1,354,000 2004
1957 22 Bramble $1,525,000 2005 (bidding war)
1957 26 Bramble $1,611,000 2006 (bidding war from $1.495 asking price)
1957 30 Bramble $1,600,000 2006