Close the Books on 2200 John

By Dave Fratello | August 5th, 2013

This can't be a real shock, because we already knew 2200 John (4br/4ba, 3800 sq. ft.) was going far over asking price.

Its start price of $2.499M was, at best, a mirage, and at worst, a waste of lots of people's time.

They drew their multiple offers, and up went the number.

Now the sale has closed at $2.875M.

That's definitely in the range we had projected at the outset, in advising clients who took a fancy to the home – including a party who did jump in.

That $2.875M was almost the very highest we could imagine for the home. But not quite "crazy."

As we noted in a prior post, the recent comps include two Cape Cods within a couple of blocks, which are a little bit more in demand style-wise than this custom Craftsman-style home with a 1994 build date.

Those include 2301 Laurel (5br/5ba, 3400 sq. ft.) (pictured), which sold recently for $2.850M and 1813 John (4br/5ba, 3550 sq. ft.), first listed at $2.999 and drawing multiple bids – the posted closed sale price there was $2.999M as well.

Lot size matters: The lot at 2200 John was notably the largest of the bunch at 5700 sq. ft., and also had the benefit of undergrounded utility poles, a rarity even on treasured John St. 1813 John was smaller by a bit at 5080 sq. ft. The lot at 2301 Laurel is a typical 4800 sq. ft., though with the plus of being on a sunny corner.

For more on other sales along John the past couple of years, see "Another John St. Bidding War," from MBC here in mid-June.

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