Cos Cob price cut

53 Valleywood Road, from $1.925 million to $1.7. That’s a large cut, and a smart one, because if a house in this price range isn’t attracting multiple offers in its first days — this one was originally listed just 19 days ago — it’s been priced way too high.

I notice that there was a broker open house here on Tuesday; if the agent was smart, and this one is a very experienced one, she’ll get feedback from her peers at those events and, most important, listen. That’s what appears to have happened here. (One of the more useful outcomes of such an open house can be using that feedback to convince a client that the original price, adopted at the owner’s insistence, was too high: “the universal opinion of the agents who came all said the price should be closer to X”).