What is Wrong with This Street?
Nothing! Yet this is the question many buyers will ask the question, “What is wrong with this street?” when there is a cluster of homes in an area on the market at the same time. I remember some years ago 4 or 5 homes became available on the street in Old Greenwich where I was living. There hadn’t been any activity for a while and suddenly one Spring there were 4 homes for sale at the same time on this short street of 21 homes. Each owner had a different reason for selling. The timing was purely coincidental.
So Many Homes, Such Little Proximity?
Last Thursday, March 19, there were 4 broker open houses in a close proximity in a coveted Old Greenwich neighborhood. 3 of the listings, 43 Keofferam Rd. ($2,975,000), 51 Keofferam Rd. ($6,500,000), and 3 Little Cove Place ($3,150,000) are represented by Berkshire Hathaway New England Properties and 1 at 7 Little Cove Place ($6,995,000) is represented by Sotheby’s International Realty. I actually know of yet another house on the street that is coming to the market soon!
One of These Things is Not Like the Other
While in they share the same area, each offers unique features attracting a very different buyer. One is a lovely Nantucket style home oozing with charm while another has an interior half basketball court and a great media room, awesome for entertaining family and friends. A third gives potential to build your dream home of over 7,000 sq ft on .57 level acres complete with most building approvals and another is a beautiful traditional home built in 2004 with 2012 updates and unobstructed water views (admittedly best at high tide).
In the end, it all has to do with choice and the more options, the better.