PRICE DROP/RELISTED - 82 Madison Avenue - ANNEX (click to see full post)
This house was first listed in October for $4,300,000.
A week later, they dropped the price to $3,950,000.
The same day, 78 Madison, a VERY similar house just 2 doors down, was listed at $3,750,000.
As I mentioned in my post on October 26, it was basically the begining of a pissing contest. Both were overpriced (though I preferred 78) and it was only a matter of time before a slew of competitive price drops ensued.
Well, in January 2013, this house relisted again at $3,950,000. No takers so they dropped the price in February to $3,695,000 (78 Madison never relisted).
No sales and no new action for 2 months......
Then, 3 days ago, the neighbour at 78 Madison finally relisted...
At $3,195,000.
Clearly, they are in competition and I mentioned that I thought it would only be a matter of time before this house relisted. My thought was that the asking price would be around $3,400,000.
Well........they didn't list at $3.4.
They relisted at....
$3,195,000.
The EXACT same price as 78 Madison.
Here is what 78 Madison is thinking right now.....
And this is what 82 Madison is thinking......
