There's a gorgeous, huge new Craftsman at 511 Pacific, at the lower end of the Hill Section but boasting big views nonetheless.
Last year, pre-completion, it was offered at $8.150m. It began last month at a flat $8m.
When these big-dollar listings cut, they really cut.
How about $1.325m in one swipe?
Suddenly an $8m…
There's a gorgeous, huge new Craftsman at
511 Pacific, at the lower end of the Hill Section but boasting big views nonetheless.
Last year, pre-completion, it was offered at $8.150m. It began last month at a flat
$8m.
When these big-dollar listings cut, they really cut.
How about
$1.325m in one swipe?
Suddenly an $8m listing is not even a $7m listing. It's at
$6.675m.
So if you haven't yet completed your holiday shopping, and you find interest rates favorable...
This is not the only Hillie with a $1m+ chop. The new home at
218 N. Dianthus has cut $1.255m to
$5.495m, and the lot sale at
222 Poinsettia is down $1m to
$6.9m. Very close:
930 John has chopped $960k to
$3.999m.
The tactic can work. In the past 6 months, 3 other sales in the Hills have chopped $1m:
- 900 Pacific, the grand estate near the peak of the hill, grabbed a cool $9.85m, but that was $1.050m off the $10.9m start price.
- 700 8th cut $1.1m and closed at $6.9m, but it's actually back now, lower, at $6.75m (change of plans for the new owner).
- 808 Highview cut $1.65m to close at $3.6m (see "High Up, But Below Trend").
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 18th, 2024 at 6:55pm 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.