Beating 2007

By Dave Fratello | November 26th, 2013

As the last local real estate bubble deflated, 2007 was both a peak year and a pop year.

There was still momentum from the prior years of runup, and some home sales hit heights you might never have expected to see again, at least for quite a while.

And then there were homes that just could not sell. Buyers were getting picky. The market was in transition.

500 14th (3br/3ba, 2500 sq. ft.) was one home that fell on the wrong side back then.

For a bit of 2007, the owners tried to sell for $1.850M. The market would have none of that. The listing quit.

It was back in 2008 at the same price, dwindling down as low as $1.699M. "No," said the market.

Far, far later, in late 2009 – after the world had seemingly collapsed – the sellers let it get away for $1.329M, their ambitions pummeled to the tune of $500K+ by the slip-sliding local real estate market.

Here we are again in an upswinging, high-flying market, and 500 14th has just sold again.

This time, the sale price was the asking price: $1.979M.

That's $129K higher than the failed asking prices of 2007 and 2008. And the home isn't really all that different today than it was back then. (We reviewed 500 14th in this October post.)

And thus, what was too rich for 2007 was easily eclipsed in 2013.

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