Bidding wars even in the (relatively) low end of the market

A couple of late summer contracts closed last week.

42 Richland Drive, Byram, was pitched as a 0.10-acre land sale in May, 2018, for $299,000. The buyers bid it up to $330,000, moved in, and improved it over the next five years. They put it back on the market this August at $999,000, and it has sold for $1.125. I get it: it’s not a bad house at all, and Byram does have its own unique charm.

Buyers are from Hewlett, Long Island; I don’t know where that is, but I assume it’s not near the Hamptons.

Old Orchard

And over in Riverside NoPo, 20 Old Orchard Road (so-named in tribute by its developers in the mid-60s) was listed for $1.595 in September, went to contract that month and closed on Friday for $1.625.

Riverside buyers,