$4M Off in the HillsPosted on Tuesday, January 15th, 2013 at 8:06pm.
Add a huge lot – nearly a triple lot at over 14,000 square feet.
Add in some ocean views from high up the hill.
What's that worth?
|"Summerhill" at 250 S. Dianthus|
With 243 DOM under the bridge, Tuesday saw another big price cut at 250 Dianthus, as the sellers attempt to find their market.
The launch on the MLS was at $11.9M in early June 2012, but $2M came off the top quickly, before that month's end.
The listing shed another $1M in September before chopping a fourth $1M this week. Current price: $7.995M.
This is a signal of sorts: The folks are trying to say they're ready to sell. Can we bet on 2013 as their year?
|853 3rd: $16.0M in 2011|
That was the highest sale price for a residential property ever recorded in MB, period. Summerhill's property profile matched up reasonably against 853 3rd, with a little more interior square footage and about 3000 more square feet of land than the record-smasher.
But you have to know that there were factors far beyond market value alone that drove the enormous run-up in the price in the off-market sale of 853 3rd. It will really take something extraordinary to see a price like that on a comparable home any time soon.
Meanwhile, 250 S. Dianthus is being offered for half the record price – still a princely sum – just waiting for the right kind of new king and queen to come take over the castle.
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