Seeing as how MBC scolded the sellers of 579 29th for boosting their price mid-listing, it's appropriate now to say congrats and well-done on occasion of their closing escrow on a sale.
How did they do it? They got real.
Now they're out, while everyone with a live listing in the Trees over $2m is nervously wondering…
Seeing as how MBC scolded the sellers of
579 29th for
boosting their price mid-listing, it's appropriate now to say congrats and well-done on occasion of their closing escrow on a sale.
How did they do it? They got real.
Now they're out, while everyone with a live listing in the Trees over $2m is nervously wondering what's next.
The sellers of 579 29th put their home up on offer in early December 2006
(who starts in December?) at
$2.575m. That was pushing the high limit. The home is 5 yrs. old, 5br/5ba, 3450 sq. ft., on a standard 4800 sq. ft. lot, and has some nice upgrades. But that was a new-construction price – and high, even then.
With no action, the price came down to
$2.400m by early May. But later that month, the price shot back up to
$2.519m.
Huh?The price kept moving – back to $2.4m, then to $2.329m, where it sold last month.
As of Friday, the closed price: $2.250m, down $325k (-13%). Price per square foot: $652. TDOM: 232.
That's a big cut – the largest we've seen in this market segment (Trees $2m+) since April, but we doubt the sellers will need grief counseling. They paid $1.4m five years ago.
Among current listings, there are clusters near $2.3m and near $2.5m. Here's a sale that moved from high in the upper group down to a notch below the lower group.
You might share MBC's opinion that they started too high
(the sellers agreed and disagreed, so don't ask them), but the movement is noteworthy regardless. Market prices are set by those who close deals.
Now, about the 24 active Tree Section listings above $2m...
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 19th, 2024 at 6:40am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.