10 Pemberwick Rd closed yesterday for $500,000 after a mere 35 days on the market. Kudos to the seller and the List Agent, Patti Meyer. These parties were not playing around. The property was listed at $545,000 and the agent noted in the list sheet that the property was priced for "quick sale."This sale gives us our third sale in the Pemberwick area and the Hamilton Avenue School district this year and establishes a decent benchmark for what to expect for $500k. Based on the sales data (see table below) one gets a two bedroom, two bathroom, 1,400sqft house on 0.14 acres. Based on my viewings of these properties, the appliances and fixtures are functional, but dated. Two of the three sales are located on double yellow line streets, which means moderate to high traffic flow (or at least more traffic than on single or no line streets).
Not long ago, there were no single-family properties for sale under $500k. A client and I looked and waited for two years (2005-2007) to find one. We had no no luck. The client finally bought a multi-family, where she could offset the higher cost with rental income. Now there have been three sales in Pemberwick and at least two others in Byram. Greenwich is becoming more affordable.
No comments:
Post a Comment