Slow sale, and I'd blame pricing

37 Ballwood.jpg

37 Ballwood, Old Greenwich, has closed at $2.525 million, which is not all that far off from its June, 2016 opening price of $2.999, but far enough, apparently. The house remained unsold and its price unchanged until late December (the 29th), when it finally dropped to $2.799. 

And that seems to have done it: a buyer showed up in less than 30 days with, as we see, an offer about 16% below that first number. It can be difficult to hit the right price when initially selling a house, but my advice is to listen to the market, and if you're getting no response, drop that price, quickly: don't hold on, waiting for the next season.

Also, as noted in the previous post, here's another example of a house, freshly re-priced, hitting the so-called spring market months ahead of time, and snagging a buyer you yourself might just be getting ready to greet: too late.