Some builder's premiums are worse than others

It often happens that buyers of new construction end up paying what proves to be a “builder’s premium”, meaning that, when they go to sell, they discover that their house is worth less than they paid for it. The owners of 50 Byfield Lane, reported under counteract today, paid $5.5 million — $8,667,892.99 in current dollars – in 2005, and put it back on the market in June 2020 for $6.475. They’ve been forced to reduce that price over the past 17 months all the way down to $5.295 million before a buyer appeared; it’s unlikely that the prospective buyer will be paying even that reduced price.