Not just a contract reported today (the only one, in fact), but a contract for 19 Desiree Drive, off Stanwich, currently asking $3.5 million.
It's been a long haul. The sellers paid $4.9 for it in 2004, put in a pool and a lot of improvements and put it back up for sale in 2008 at $5.595 million. With some time off while it was rented, it's been for sale ever since, with, as you see, a steadily declining price tag.
The neighboring property at 21 Desiree, also a spec house although by a different builder tried for $5.095 million in 2005 and, ironically, many agents including myself thought that the price was crazy because 19 was, in our opinion, a far nicer house and it had just sold for $4.9. The market agreed, and No. 21 didn't sell until 2010 for, and here's the ironic part, $3.750 million. Nineteen remains the better house, yet six years on, it's selling for less.