Better than owning a Volt!

170 Old Mill

Broker open house Tuesday is upon us once again and as has been the case recently, there’s no need to waste gas to see the handful of houses being shown. In the Back Country there are three repeats, one 2006 house coming back on and that’s it – 4 houses, total. Below the Merritt, there are just six single family houses to see, all repeats, and with the exception of a Belle Haven house @ $8.995 million, the highest price asked is $2.995 (one of those), one asking $1.995 (down from $3.2), one at $1.295, a $799,000 and bringing up the rear, $534,000. Phooey.

The new listing in Back Country, 170 Old Mill, is of some interest if only because it’s coming on asking $7.8 million after selling new in 2006 for $8.850 million. It now joins the other 28 houses asking between $7 – $8 million, for a total of (drum roll) …29! Five houses in the $7-$8 range (asking, not getting) sold in all of last year, with just two finding buyers in the past six months. I keep asking what’s going to happen to this part of our inventory and so far, can’t see an answer. The houses are just sitting on the market gathering dust and presumably something’s got to happen, either they’ll be withdrawn or some owners will chop their price. Depending on what percentage of owners decide to throw in the towel and move their property down a few notches, those houses below them are going to get hammered.

Or everyone will just decide to stay home. Hey, it’s Greenwich, and real estate values always go up, right?

Look out below!


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6 responses to “Better than owning a Volt!

  1. Anon

    For me, it is worth it burning gas to go see that infinity pool again for the one asking $1.995!

  2. Is there any indication that lookers are shopping other CT towns, leaving Greenwich to stew in its own P&Z and over-pricing juices?

    PS: Chevrolet does VERY well here in Brazil. See a TON of them. No Volts spied, yet.

  3. The New Normal

    hey the stock mkt is coming off pretty hard

    so you have that to look forward to….

  4. AJ

    EOS, the reason you see so many Chevys is because they are multi-fuel vehicles, meaning they can run on alcohol or gas, and Brazil has a huge alcohol fuel from sugarcane program.

  5. reader

    Interesting about 170 Old Mill Road because in your post above it, it looks like the old price was $7.795,000 and it went UP $200,000 to $7.995,000 after only one day on the market. or was that a typo?