When the town and the broker are both wrong

The Town’s tax appraiser values 55 North Street at $5,679,300, which may explain why the original broker priced it at $5.750 million in June, 2017. Today, its new price is $4.1, and it’s still awaiting a buyer.

I think it’s nice house, albeit perfectly indistinguishable from any of the other $5 million houses that have gone up in the past twenty years. Its back lot location is actually a plus in this location of lower North, and though it lacks a pool, many people like me don’t want one; the listing claims a “possible site”, for those who must have their own waterwork.

I say it’s indistinguishable from its peers in the $5 range; if I’m right, and this house ends up selling in the $3s, what does that say about the prospects of properties currently languishing in the $5 ranks?

Just sayin’.