New Record On Oak? Yes

By Dave Fratello | October 30th, 2014

We speculated just 5 short weeks ago that the freshly remodeled listing at 1720 Oak (4br/4ba, 3470 sq. ft.) stood "a good chance to set th[e] record" for a home price on the "wrong" side of Oak. (See "Why Not Another Record?")

Done. Record set. By a lot.

The list price of $1.999M turned out to be just the start. That price alone would have set the record for the east side of Oak Ave., which abuts commercial properties in back. 

The actual, newly closed sale price of $2.227M crushes the prior high of $1.899M, set 13 months ago in August 2013 at 2600 Oak. Yes, another bidding war.

And wouldn't you know it?

1720 Oak's sale price just reset the bar for all of Oak Ave. – yes, even the "right"/western side.

That record had belonged to the wondrous custom Spanish at 1725 Oak (4br/5ba, 3200 sq. ft. ), which closed for $2.085M in April 2013.

Now 1720 Oak, a 1988 build that has gotten a very nice makeover, including a recent exterior re-do, has sold for 7% more.

Ain't it a great time to be a seller?

Before you assume that this all looks easy and everything is flying off the shelves, it is worth taking note of the care and style that the sellers applied to this home before bringing it to market. To make this big sale, it took an auspicious combination of size, style, floorplan, sweat and stress, plus the right amount of competition (less is better!) and good timing.

Here, we'll gather they never expected to launch in late September, almost (not quite) "too late" for the year, but they had to finish their work.

Once they did, they rewrote a page in the history books. For now.

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