154 Stanwich sold new for $4,4125,000 in 2004. The new owners made improvements and put it back up for sale in 2010 at $5.2 million. Today it’s marked down to $3.850. I don’t know if that will prove to be the right price but it’s a beautiful house, just under 6,000 square feet and backing up to the Greenwich Country Club golf course, and I certainly like it. I do know this: clients of mine have been looking at houses in the $3.5, $3.7 range and the owners of those homes have been intransigent (stubborn, Walt). They might want to go tour this house and then rethink their price because there’s no comparison.
I have a feeling we’re going to see more of this, with houses dropping their price down to the next price rung and making those properties already there look wildly over-priced.