Pending on Echo Lane

7 Echo Lane, asking $2.575 million, pending after 10 days, which suggests there were multiple bidders. In normal markets of the past you’d usually see a 30-day gap or so between a reported contract and a status change to pending, as mortgage contingencies were met. That’s rarely happening now, either because buyers are paying cash, or they’re foregoing a mortgage contingency condition in order to be competitive with other bids.