Northeast price war

40 Howard Road was priced at $2.3 million but closed yesterday at $2.525. Even at the higher price it seems reasonable; It’s a nice house, and Howard is a good street, albeit a bit distant from town.

Howard, like other homes up in our northeast corner, has always commanded lower prices than mid-country and Riverside, and there was a period there where prices were declining, rather than holding their value. The late newscaster Michelle Marsh, for instance, paid $2.775 for 64 Howard in 2004 and could only get $2.250 when she resold it in 2014.

Similarly, 83 Howard Road, a spec house originally priced at $4.2 in 2007 but, although it was well built and attractive, the street wasn’t ready for that price level in 2007, and it finally sold in 2010 for $2.6 million. Worse, it resold in February, 2021 for just $2.225. That was a true bargain.