Price cuts in this time of cholera

50 Vineyard Lane has cut its price again, modestly, to $4.7 million, after beginning at $5.999 in April 2019. That makes sense to me, because the Greenwich market has been flooded with NYC refugees the past few months and they seem to be buying anything that doesn’t move, even in some of the less popular neighborhoods. So if your own house isn’t receiving offers during this buying frenzy it’s because those would-be buyers are finding houses that they like more, at a better price. You can’t change your home’s design, and I generally advise against putting money into mechanical improvements that won’t recoup their cost, but if your house isn’t competitive in its current price bracket, drop it down to the next one.

Or even lower.

(To clarify my remarks, it’s always about price but some homeowners, having missed the spring market by overpricing, leave the price where it is and go away for the summer, figuring they’ll reexamine the issue when the fall market returns. Right now, market activity is not dropping, and there are plenty of buyers out there. This is not the year to miss the summer market.)