I'm not laughing with them, I'm laughing at them

After 110 days, 24 Nutmeg Drive has cut its price by 0.8%, from $3.3 million to $3.275. In any market, no matter how slow, a minuscule price cut won’t be enough to draw a buyer out from hiding, but especially now, in the hottest market in decades, when houses are finding buyers in two weeks or less, a $25,000 reduction after 110 days is, well, laughable.

UPDATE I checked previous sales on Nutmeg Drive going back to 2003, and I can see why these buyers so firmly believe in their price: Just as I remembered, Nutmeg has traditionally been a neighborhood of $1-$1.5 million homes, but in June 2022, a renovated home at 39 Nutmeg, 1,000 sq. ft. larger than this one and entirely different, was put on the market at $2.790 and was sold in 6 days for $3.350. But that exception only proves my point: there are obviously buyers out there, or there were a year ago, willing to live on Nutmeg Drive — that fact that not one of those people has appeared after 110 days is as loud and obvious signal that the property is overpriced as any clarion call can be.