1 Birchwood is an interesting example of the speculative building boom and its bust. Built in 2006 at the height of the market on marginal land (it’s on Will Merry, with the babbling brook tinkle of Merritt Parkway traffic washing over it), and unusual design, in that its master bedroom extends the entire length of the east side of the house and plantings that – well you tell me: do they look like miniature Brussels sprouts to you,too?
In any event, it was priced at $6.495 in 2006 and has never sold. I assume it’s been rented out for some of the intervening years, never a great way to improve a home’s condition, dropped to $5.895, $5.695 last spring and today it’s offered at $4.995. Had it started at this latest number it might have sold seven years ago. As it is ….
47 Round Hill Road did sell after it was built, for $8.175 million in 2005, a number that struck some of us as exuberant but heck, those were the go-go years. The buyers tried reselling it for $8.995 in 2010 without success, dropped it to $7.995 in 2012 and when it still hadn’t sold by September, raised its price to $8.195 as a lesson to us all. I suppose next month they’ll be back at $8.995 and then, who knows? $15 million by July? Rush right over or you’ll be sorry.