Price wars are still going on, even in the dead of summer

Not for the elephant Graveyard listings, perhaps, but the builders are out there. Case in point, 346 Sound Beach Avenue, Old Greenwich, 1900 construction and showing every bit of its age (Ghost House” was one term I heard), was listed by agent Susan Isaaks at $1.495 million, had a contract by July 15th, and it closed today for $1,6750,000.

Is this purchaser actually a builder? I’m just guessing that, but there are a number of them prowling the town, looking for opportunities — in fact, if you have a run-down, sell-for-land-value property that you’re thinking of selling, contact me: I have a builder friend who’s in the market. Or call your own agent — he or she probably has a stable of such people, and, climbing interest rates, a collapsed supply chain, and the looming end of the world notwithstanding, there are still plenty of buyers in town.