Oh, How Refreshing!

We're going to talk a little bit here about listings that kinda look new, but actually have some market history.

Time was, when listings would cancel and immediately re-list, we would use some fun, derisive terms for the procedure here on MBC. Even the MLS authorities had a negative term for canceling and re-listing: "churning." (They created some regs to limit "churning.")

And then, just a couple of years back, we re-used one of our own silly, fun, derisive terms here in a blog post to describe a property's re-list. We got taken out to the woodshed. (And no, we're not going to tell you what we said to cause the dust-up.)

So now, if we see a listing re-boot, we like to just say, Oh, How Refreshing!

If a listing is on the market, briefly cancels and almost immediately returns, that's a Refreshing Re-List.

Doesn't that sound nice?

It must be that time of year, because listings that had hung around through the holidays seem to be refreshing recently. For instance:

413 Bayview (4br/4ba, 2702 sqft.), a new-construction townhome in the South End.

This property first emerged around Labor Day last year, asking $6.995M.

After about 2 months, they decided to both refresh and re-price the property, bringing it back at $6.499M after one day off market.

Soon after, the front unit (412 Manhattan Ave., 4br/5ba, 2500 sqft.) closed for $5.600M.

The second version of the listing for 413 Bayview made it past the holidays and into late January, before a little Refresh. The third version of the listing is now at $6.295M and shows just 3 DOM as of Monday.

(413 Bayview is listed by Giovanni Altamura, SC Real Estate.)

If you're ever curious whether a listing has some history prior to the current version of the listing, you can always look for the "Combined Days on Market" for the property. 

Just click the little arrow under Property Details on the listing page, and you'll quickly see both the regular DOM count and the Combined DOM count.

Most of the time, these numbers are the same, but if they're not, there are past listings to investigate.

2209 Oak (3br/2ba, 1175 sqft.) is a cute, mostly original and smallish Tree Section cottage.

This one launched in late September at $1.975M and ran a solid 3 months, inking a deal in late December.

Soon after going pending, the listing virtually disappeared, going into a "hold" status that effectively withdraws it from showing, marketing or the internet.

Clearly the escrow didn't pan out, because the "old" listing canceled last week, and now the property's back, refreshed, at $1.975M again, showing 3 DOM as of Monday.

(2209 Oak is listed by Rob McGarry, Vista Sotheby's International Realty.)

424 5th (5br/4ba, 2823 sqft.) is a custom SFR on a treasured South End walkstreet.

It began in early November last year at $4.995M.

After a break on "hold" around Thanksgiving, it came back, higher (!?), at $5.249M.

That listing ran till last Friday, then the property came back much lower, refreshed and re-priced at $4.799M, with a new DOM clock. 

(424 5th is listed by Robb Stroyke, Bayside.)

540 3rd (5br/6ba, 3521 sqft.) is new construction in the South End (not on a walkstreet).

This one began $1 million higher than its current asking price, seeking $6.499M starting in June 2023. 

There were substantial cuts in the months of September, October and November, climbing the price down as far as $5.750M.

But last week, it got a whole new refresh.

After one full day off market, 540 3rd is now asking $5.499M, and there's a new agent. Although, as we noted in our new-listings post, we still see the same listing description and photos as were used in the prior listing. (In other words, that stuff isn't refreshed.)

(540 3rd Street is listed by Jim Leonard, Vista Sotheby's International Realty.)

Well, well.

The NFL playoffs are over, setting up the Super Bowl Big Game, after which our real estate typically market gets rolling.

It sure does seem that this is going to be a Refreshing year!