Richmond Hill — it sells in strong markets, not so active in weak

Or that’s been the track record on this northwest corner neighborhood. 29 Richmond Hill Road reports a contract today, just 53 days after hitting the market at $3.995 million. A traditionally slow sell in soft markets, but it did command some astonishing prices when spec builders rushed in back in the last boom of 2002-2007. Buyers of those houses had cause to regret their purchases during the ensuing 12 years, but for those who held on, now’s the time to cash out.

Or perhaps the market’s changed, and prices will stay elevated. Richmond Hill is close to Westchester, and the Panic has attracted a number of buyers from across the border, especially when they compare their property taxes to Greenwich’s. Their party’s leaders are restoring the SALT credit, however, so the Greenwich advantage may soon be diminished. But certainly the houses here offer a strong Westchester feel, so we’ll have to see how it all works out.

Speaking of Westchester, this home’s listing describes it as belonging to the “European Design” school. We used to see the same architecture called “French Provincial”, but those were slow sellers no matter what area of town they sprouted, so that may explain the change in terms. I had no idea what “European Design” was supposed to actually look like, so I Google Imaged it: it seems to be an eclectic, flexible category, as demonstrated below.