And again

31 Khakum Wood

31 Khakum Wood Road, which sold in a bidding war (!) for $7 million back in 2006 and whose lucky "winners" returned it to the market in 2015 at $6.750 million, is now down to $4.495. 

Ouch. 

For those of you tracking Greenwich high end prices, this same property, two owners ago and pre-renovations, sold for $3.6 million, back in 1997. Adjusted for inflation, that would be $5.464 million in today's dollars. For that matter, the $7 million paid in 2006 would be $8.448 million today.

(UPDATE) Put another way, and using the same calculator tool, you'd have go back to 1990 to find the present value of this house's latest asking price. Just the other day I quoted one of our local flacks who said, "Greenwich real estate continues to be a solid investment". Maybe by "solid" she meant "rock bottom"?

Ouch ouch.