Dingletown contract

79 Dingletown Road, currently asking $4.295 million. My guess is the the final number will begin with a $3.

The house sold new in 2007 for $6,787,500, and those buyers put it back up for sale in 2009 for $7.125, eventually selling it to these owners for $5.1 in 2012.

Delusions about this home’s value seems to have been built into its moldings, because these owners priced it at $5.795 in 2017 and had to slowly drop that figure to $4.295. So between the two owners, and assuming that this final closing price will be around, say, $3.9 million, there’s been roughly a 40% depreciation in the past 12 years. That’s no longer shocking for Greenwich real estate, but it’s a bit alarming to reflect that the depreciation continued at about the same pace from 2012 until now. Have we hit bottom? I doubt it.