This past week MBC ran its second pricing poll, this time on a new listing, 1413 Pine (click address for details via Redfin).
The results are in, and they show that a 40% plurality thinks the property is priced well and will sell within 10% of its start price – here we're combining the 7% who chose $1.759m (+/-5%)…
This past week MBC ran its second pricing poll, this time on a new listing,
1413 Pine (click address for details via Redfin).The results are in, and they show that a
40% plurality thinks the property is priced well and will sell
within 10% of its start price – here we're combining the 7% who chose $1.759m (+/-5%) and the 33% who chose $1.5m-$1.65m. However, a nearly equal number (
39%) think the home
will fall more than 10%, as low as 25% off its start, selling between $1.3m-$1.5m. Another 12% thought the prop would slip below $1.3m.
We wrote
in our original story that, from March 2007-Jan. 2008, only 2 listings had sold from the MLS above $1.5m with around the same square footage as 1413 Pine. Alas, as we later learned, the neighboring home at
1417 Pine sold last May off the MLS for
$1.7m; it's just 140 sq. ft. bigger.
As we watched the results tally up over 3 days, the division was almost always equal between the 2nd and 3rd choices ($1.5m-$1.65m vs. $1.3m-$1.5m). It seemed, however, that the lower-price choice picked up a bit of steam at the end, after a new listing at
3505 Pine came on the market.
(Click address for details via Redfin.)
Perhaps this was a whiff of market intelligence affecting the vote. The newer listing is slightly larger (+190 sq. ft.) but came on much lower at
$1.499m, fully
21% lower in PPSF ($627 vs. the $800 at 1413 Pine). 3505 Pine needed adjustments for condition and location, but the gap was still large. Perhaps some voters felt this new listing would make 1413 appear high.
3505 Pine is open for the first time
Sunday 1-4pm. Naturally, we'll keep you apprised of developments on 1413 Pine along with other competitors until we get some sales.
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 19th, 2024 at 2:50am 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.