14 Hycliff Road, a backwater off Riversville, dropped its price today to $3.999 from $4.295. Other than a paint job, it seems unchanged since June, 2018, when it sold for $3.8 million, so the premium for one year’s aging seemed misplaced to some of us. Nevertheless, the listing claims that the house is “priced below market value, according to town” and that’s technically accurate: the town still shows an appraised value of $4.8. But that number was surely arrived at before the $3.8 sale, and while sweet memories of this one’s $5.8 sale in 2002 still lingered.
In fact, this property sat on the market from October, 2011, when David Ogilvy started it off at $7.4 million (tee hee), until last year, when this buyer finally established its market price as $3.8. Given the Riversville Road neighborhood’s continued decline in popularity, I doubt that same value prevails today. Regardless, the market value is obviously not higher than $3.999, because it wouldn’t sell above that.