Market conditions

21 Bobolink Lane, a beautiful home built in 1937 and last renovated in 2009, was priced at $6.350 million, and closed today at $6,900,021 (always wise to toss in an odd number in price wars, just in case there’s a competitor using round figures).

This sale affords a chance to compare prices with our last bubble, at least for some houses. It was priced (admittedly, by Ogilvy, so there’s that to be factored in) at $8.9 in 2007 and sat around until 2009, when these owners paid $5 million.