Contract!

10 Brookridge Drive, a renovated, 1928 house last asking $3.450, is now under contract, 55 days after being put up for sale; that counts as a quick sale, in our market.

The owner is also a (very successful) real estate agent, and her pricing decisions are impressive. She put it on the market February 14 at $3.790, gave that price a month-and-a-half, then dropped it $500,000 ($300,000, not $500, as a reader points out, and of course, he’s right; subtract in hast, repent at leisure), which is a large enough cut to capture buyers’ attention. Half-measures avail us nothing, but significant price reductions often do. Lesson here: don’t nibble at the price of a house that isn’t selling, take a big whack at it.