Close the Books on 1801 Palm

Posted by Dave Fratello on Monday, February 13th, 2012 at 8:25pm.

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.
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