Contracts reported: 5 Sherwood Farm Lane, $4.152 million, just 82 days on market. That price is right where this development's homes are going for these days, so this seems to be coming in just about where it should.
Sherwood Farms homes, which once commanded prices in the $5s, have all dropped into the low $4s or into the $3s, and nothing has sold there in the $5s since the crash. with the exception of one chump who paid $5.050 in 2014. Who would pay a million more for a house in a neighborhood where all the other houses have lost at least million in value in the preceding years? I understand that, at some level, a million bucks is chump change, but it always surprises me to see people who, presumably, have the financial acumen to amass a fortune, completely lose their common sense when it comes to personal residences. Can't fix stupid, of course, but if these people were stupid they couldn't afford $5 million homes, could they?
116 Pecksland Road, $2.1 ask, finally has a contract after 1,115 days spent searching for a buyer. It spent over two years at this $2.1 price, never budging, until the agent amended the listing note to fellow agents saying, in effect, "owners desperate; bring offers". That seems to have done the trick, and I'm assuming its final sales price will be significantly below the ask, because who would pay anything close to asking for a house that no one else has wanted at the ask price for almost three years?
9 Palmer Lane, Riverside, $2.950 million. Interesting market dynamics at play here: the house just wouldn't sell, either at its opening September, 2015 price of $3.650 or even its eventual price of $2.995. The owners let the listing expire last July, brought it back on the market in early April of this year at $2.950, and found a buyer within a month.