They have finally sealed up a sale at 1801 Palm
(4br/4ba, 3900 sq. ft.), a newer (2000) home that logged a fairly amazing 279 DOM last year. Amazing, that is, for a larger, nice Tree Section home on a great block and a sunny corner lot.
They wrapped it up at $2.100m
, down an irrelevant $29k from the last price cut made in July 2011.
The sale price is off $199k (-9%)
from the start price from last March.
Perhaps more interestingly, the chop is also 10% down
from the May 2004 acquisition price of $2.325m
. MB's median price for 2011 for SFRs was pretty much flat to 2004 (see "2011 Wrap: More Sales, 2004 Median
"), so we notice when someone comes in notably off that line.
Curiously, that prior listing began in March 2004 at $2.050m, perhaps begging for the bidding war that, in fact, ensued. But this year's sale was closer to the March 2004 starting point than to the heights hit once Palm sold 8 years ago.
For some of the info and comparisons in our past posts on 1801 Palm, see our most recent: "Maybe Palm Has Finally Turned
," from late January.