If your house in OG or Riverside hasn’t sold yet, you are way too high

47 Arcadia47 Arcadia, $2.395 million, sold in five days. Pretty house, very nice renovation dating back to 2006 (when it sold for $2.150), so nothing particularly surprising here but its quick sale, along with so many others this spring, ought to drive home to you owners still sitting in unsold houses that you are missing the most active spring market in years. If buyers have repeatedly rejected your home in favor of others (and every house that sells in your general price range is a direct rejection of what you’re offering) then it’s past time you dropped your price. It’s possible that a disappointed buyer will circle back and grab yours at your inflated dream price but it’s more likely that spring will pass and you’ll have missed the tide.

6 Comments

Filed under Uncategorized

6 responses to “If your house in OG or Riverside hasn’t sold yet, you are way too high

  1. Anonymous

    So if that is your case, what are your thoughts on 35 Willlow, 275 Riverside Ave and 19 Terrace

    • Willow took a modest price cut today but really, I’m simply making an observation – there are tons of buyers swarming the woods this spring and if your house hasn’t sold in three weeks, you’ve done something wrong. And in Greenwich real estate, what’s “wrong” is always the price.

  2. Flash forward

    All these sales makes OG and Rside look like Levittown after WWii.

  3. Anonymous

    What you have here is a potential for another bubble to burst. Interest rates are artificially low since the Fed is trying to rev up the economy. Once the Fed starts jacking up the rates these low interest mortgages will disappear quicker than sending your money to a General in Nigeria . Hope these buyers are getting fixed rates!

    • Just_looking

      So, then yet another reason to reprice for right now.

      • But they won’t, they’ll let their house linger all summer, drop it a token amount in the fall, then blame their agent for not marketing it aggressively enough wen winter arrives and it’s still unsold.