Earlier this year, we were already amazed at the runup in land values in the Tree Section. (See "Tree Section Lot Values Spike Again.")
The newest closed sale exceeds the points of reference we had before.
That's at 738 29th St., a standard-size 4800 sq. ft. corner lot in a very quiet, favorable location along Agnes.
They listed it publicly at $1.495M, conscious that a larger, nearby lot with a nice location at 750 30th had recently settled for $1.515M.
But that $1.5-ish price turned out to be just the starting point.
A rush of early offers came in, and the victor paid $1.750M.
Our information is that the buyers are, as they say, "owner/users" intending a custom new build for themselves. Spec builders were in the mix at this price level as well.