More on price cuts
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A random sampling of the 18 house inventory in the North Street School / Central Middle district, homes built from 2000 to date, priced between $3.5 and $5 million shows, I think, what’s happening:
291 Stanwich, now asking $4.095, started at $6.695 in 2014
11 Plow Lane, $3.995, began at $4.9. Purchased for $4.755 in 2007
16 Boulder Brook, $4.495, started at $5.795 in 2016, sold for $5832 in 2006
610 Lake Avenue, $3.995, started at $5.9 in 2017
3 Dunwoodie, $3.995, started at $6.595 in 2015, sold for $6.3 in 2005
A drop in the asking price doesn’t necessarily mean an actual out of pocket loss, though most of these houses seem to have suffered exactly that, but the drop is certainly pushing prices lower, as what might have been considered, say, six million dollar homes have become mid-four houses, if that.
Ouch.
