Another price cut for this new Havemeyer construction

5 Pleasant View, is now asking $3.699, down 2.5% from this morning’s price of $3.795. This marks the third cut since the house was listed at $4.195 million in August; the first two were each 5%, and I’m a little surprised that this one’s so much less aggressive, but the agent is the person best able to gauge buyer interest and presumably, she’s basing this on what’s she’s seeing.

If I were the builder, I might not have waited until mid-October to take that first price cut to $3.995 because the market’s been slowing down since September, as it does almost every year, and rising interest rates aren’t going to spur a sudden return of buyers. Of course, it’s easy to make these calls in hindsight, and when I’m not involved in the sales process.