Sherwood Farms continues to disappoint

15 Sherwood Farms has cut its price to $2.999 million. It was purchased new in 2004 for $3.450 and, after improvements, was placed back up for sale in 2012 for $4.550; things have gone downhill since then.

As conceived, this development of Rockefeller property seemed sound: sell the lots to a few, select builders, and have them sell high-quality homes for $4 million plus. It worked, originally, with sales in the high-$4s and even $5s, but as time went on, prices declined. There’s only been one sale over $4 in several years, and that one, 16 Sherwood Farms Lane, sold for $4.250, ex-MLS, by an agent selling her client’s house to another client. That’s usually not a good judge of actual market value. Other than No. 16, sales have been in the $3s and $2s. 8 Sherwood, for instance, sold for $2.450 in 2017 — it had previously sold for $3.8 in 2009.

I think buyers in Sherwood Farms counted on the development of the other Rockefeller land across Glenville Road to boost neighborhood values in general, and that may still happen, if that long-delayed development ever breaks ground. For now, the area retains its slight stigma of being on the wrong side of town, and potential buyers have noticed.