Hate to keep beating dead horses, but the real estate market's slow, so we repeat

I’ve written about 30 Club Road, Riverside, before, but it’s dropped again and is now priced at $5.099 million, still farther away from its original 5/18 price of $6.549.

This house sold for $4.350 million in 2007 and was completely gutted, renovated and expanded (by about 1,500 ft), then resold in 2012 for $6.453 million. It’s a fabulous house, and Club Road remains where it’s always been, meaning a short stroll to RYC and the train, and an easy walk to two of our town’s best schools. So what gives?

We’ll have to see after the spring market whether this home’s huge drop in price is just a reflection of disaffection for older homes or a wilting of the Riverside rose in general.

In the meantime, it’s a very attractive house, to my eye, especially if it can be had in the $4s.