Real estate blogging these days has been scarce, because there’s so little activity being reported — that doesn’t mean that deals aren’t necessarily in the works, and perhaps we’ll see contracts coming in in the following weeks, but for now, it’s almost entirely rental activity, and who wants to read — or write —about those?
I did see that 16 Boulder Brook Road, off Stanwich, has taken another price cut today, to $4.495 million, with the notation, “aggressively priced, motivated sellers, bring all offers”.
When these sellers paid $5.832 million for it as new construction in November, 2007, I know that that price raised eyebrows on a number of us in the professional ranks, because Boulder Brook had never seen a price anywhere near that amount. The sale set off a flurry of builder activity on the other side of the street and, briefly, other new homes sold in the low-to high-fours (after asking as high as $6.750), and one of them achieved $5. That excitement seems to have died down, and these owners, who started at $5.795 million in 2016, seem to have acknowledged that.
There’s nothing wrong with this house, its property or Boulder Brook itself, and in fact, if I had clients actively looking in the high-3, low-4 range, I’d definitely suggest that we go see it. A pretty large price correction has occurred on Boulder Brook and, with luck, prices here have stabilized.
Time will tell.