Curious moments in pricing

13 Chieftans has cut its price to $3.195 million from its August price of $3.295. What puzzles me about this strategy is that the listing expired in July, when it was asking $2.995 million. Why’d they raise it $300,000?

This house sold new in 2005 for $3.5 million, and resold for $2.650 in 2015; like all the homes in this development, prices have been dropping, not rising.

They’re all good houses, built on the former Gimbel estate (of Gimbel’s department stores; a sad chapter in Greenwich history saw Jews shunted to our northwestern corner, if they were allowed to buy land here at all. Mr. Bernard Gimbel was a client of a law firm I worked for long ago, and I had a chance to meet with him a few times. What a wise, elegant gentleman — Greenwich in the 20s-60s could be an ugly place). But I digress; nice development, well-built homes but up to now, the market has drifted south and east. The Flu may change that.