Broad statistics sure aren’t painting a very clear picture of the market dynamics these days. A couple of recent examples illustrate the flight to quality that’s happening right now. Close readers of the comments may know already that 191 Washington Park, an Open House Pick on August 25th, went into contract within a matter of days of its first showing at the asking price of $1.9 million. Other, more marginal properties, have been languishing for months. Take, for example, 52 Irving Place. Back when it was a House of the Day on March 6th, we were surprised to see a house in Clinton Hill for under a million bucks. It had recently been cut from $999,000 to $975,000. Clearly that didn’t do the trick and the owners are getting antsy. It resurfaced last week on Craigslist for $700,000. Now, we’ve seen some price cuts in our day, but this is one of the most drastic. Think it will move quickly at this price?
Open House Picks [Brownstoner]
HOTD: 52 Irving [Brownstoner]
Reduced: Clinton Hill One Family [Craigslist] GMAP P*Shark