33 Highland Farm Road has sold for $6.1 million. That sounds like a lot of money and it is, but it’s a large hit for the seller, who paid $6.9 for it in 2005. He tried for $7.750 back in 2010, pulled it after that didn’t take and brought it back at $6.950 a year ago. Things continue to be slow going for this price range north of the Merritt.
Over in Riverside, however, 3 Hearthstone Drive, $3.125, reports an accepted offer after 28 days. I thought this house was intelligently priced by the agents Russ Pruner and Ken York and the builder, because number 7 Hearthstone, right next door, was built to what I thought was a higher level of finish but was priced at $3.795 when this came on. Figure that number 7 will sell for around $3.4, $3.45 (it’s already dropped to $3.6), then coming in $500,000 lower than 7’s original price opened the door to a broader body of buyers (yes, two puns in one this morning – bonus!) and, assuming the normal negotiation process, that $500,000 – perhaps $400,000 difference will remain. Which seems about right.