Just last week we asked MBC readers to chime in on the new list price for 1413 Pine, returning to market 2 years later and $400k lighter than its last attempt to sell.
While readers were voting, someone else stepped up to the plate: a buyer.
1413 Pine is now under contract, accepting backup offers.
So we might…
Just last week we asked MBC readers to chime in on the new list price for 1413 Pine, returning to market 2 years later and $400k lighter than its last attempt to sell.
While readers were voting, someone else stepped up to the plate: a buyer.
1413 Pine is now under contract, accepting backup offers.
So we might assume – assuming the deal proceeds to fruition – that votes closer to the list price will be more likely to be correct. (See the poll setup story here.)
Before we report on the final poll results, we'll say again that 1413 Pine was nearly alone in its price range, a nice benefit of starting when it did this year. See the new MB Market Update online spreadsheets (for 1/15/10) for more on inventory in all parts of MB. (Writeup on the update to come shortly.)
In our results chart here, you'll see that 11% of poll voters believed that the actual list price, $1.389m – give or take 5% – was dead-on. In the history of MBC pricing polls, this selection has rarely, if ever, succeeded, but we might be in store for a first this time.
The next category down covers just another 5%, spanning $1.250m-$1.325m. Nearly a third of voters – 32% – went with this choice. So we can say that 43% of poll voters believed that Pine would sell within 10% of its list price.
Also worth noting, all of the comparable properties mentioned in the poll setup story ranged from $1.245m-$1.380m. Another reasonable point of comparison as a comp would be 2812 Elm, a short sale that's actually still pending, though MBC posted a story late last year when the home temporarily popped up as a closed sale at $1.325m. That may have been a hiccup in the MLS, but we continue to hear that will be the closed price.
The plurality of voters, 34%, went one notch further down, selecting the range of $1.150m–$1.250m. Even the bottom of that range is still 83% of the list price, so this wasn't a terribly bearish opinion. The balance of voters, 21%, chose a price below $1.150m or said Pine once again would not sell (1%).
One final note – in our poll setup story we linked to a market analysis by Ideal Home Brokers, which projected the final price for Pine as $1.315m, or 95% of list. That analysis (click to download PDF) goes far beyond making a prediction, but we appreciate IHB putting themselves out there with a specific number.
We'll return to Pine when the sale closes.
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 24th, 2023 at 6:31pm 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.
