More price woes

42 Lower Cross Road 42 Lower Cross Road, technically in Conyers Farm, cut its price again today by another $300,000 and is now asking $5.195; its price back in 2015 was an optimistic $6.995. I really like this house, just as I like the similar home at 50  Guards Road, which started at $7.950 in 2013 and remains unsold today at $5.975, but the market's gone south, literally, and there are currently 10 homes in Conyers Farm actively for sale, and from what I hear, even more that are "quietly" for sale.

I foresee a (slow) race to the bottom for these two. 50 Guards Road sold for $5.750 million in 2000, but today, probably not.

50 Guards road






125 Pecksland Road

Further down the road and to the west, 125 Pecksland Road also cut its price, to $11.495 million, down from its June start at $12.995. The owner paid $11.1 for it in 2001, and I'm guessing that he won't even see that number, despite the improvements he's poured into this place: The market for 14,500 sq.ft houses is as thin as the market for $11 million houses in general: there are 11 for sale in Greenwich priced between $10.5-$12 million (and 47 total over $10.5), and just one has sold in the past 12 months.