Sold in Belmont: Dorset Road Colonial Takes a Price Tumble for a Reason

A weekly recap of residential properties bought in the past seven days in the “Town of Homes.”

 18 Dorset Rd. Center-entrance Colonial (1937), Sold for: $912,500. Listed at $1,035,000. Living area: 2,797 sq.-ft. 9 rooms, 4 bedrooms, 3 baths. On the market: 181 days.

Oh, the poor sellers of a very nice Colonial a stone’s throw from Route 2; victims of the reality of the housing market stomping on the perception that any home on Belmont Hill is worthy of a seven-figure sales price. Not to say that this house’s design is a detriment to the sale; in fact, it’s a beautiful period Colonial with outstanding architectural features (just look at the living room’s exposed arched beams – but why is that big flat screen in the bay window?! – and molding), what appears to be original lighting fixtures and a garage hidden in the back. Take away the horrible new shower and back-to-the-future granite-top kitchen island (next time, use tile), this is an outstanding house for a growing family with four bedrooms, three baths and a quarter acre.

But was it worth the initial +$1 million price tag? Obviously the population of buyers seeking this house have kids they were expecting to be hanging around for a few years and putting down a cool mil along with handing Treasurer Floyd Carman a $1,000 check each month was not in their calculations, especially when houses in Belmont’s “Lowlands” can be gobbled up for 250,000 fewer dollars. The result: take a look at the offering price from Independence Day to New Year’s Day. It’s like watching a climber fall off the Matterhorn.

List Price: July 9, 2014: $1,035,000

Sept. 4: $1,025,000

Sept. 5: $1,024,000

Sept. 24: $999,000

Oct. 22: $949,000

SOLD: Jan. 6, 2015: $912,500

Remember the days when sellers and their salespersons would list low and see the bids come in? I do. What’s happened?

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