Too modest a cut?

After 35 days on the market, 8 Park Avenue — the Greenwich park Avenue, not the one in Old Greenwich – has had its price cut (or “improved”, as a good friend of mine recently describe her own listing’s new, lowered price from $3.875 million to $3.725, a 4% difference. Park Avenue is a great street in a great location, even if some might disagree with the listing agent’s claim that it’s “in downtown Greenwich”, and this 1918 home has been pretty nicely renovated, so if it hasn’t found a buyer after a month, in this market, there may be more to this demonstrated buyer resistance than a mere $100,000.

Just my opinion, of course, and maybe this cut will in fact do the trick.