just went to contract listed at $1,350,000 ($214/sf)
That follows a $150,000 price cut just last week, making it $845,000 off it’s Jan 08 asking price of $2,195,000.
At $214/sf it was by far the cheapest house for sale in Cat 10 in $$/sf - where the average of those for sale is now $321/sf.
And it is much more in line with the six homes that have sold in Cat 10 – which average $213/sf. And it probably sold for at least a few bucks under asking, so less than $214.
I wrote about Sumo Octavo last week when it dropped $150 thou, and called it too little too late
I’m glad it wasn’t and I hope it sticks. 3771 E Sumo Octavo
There are buyers out there waiting for the right deal to come along while ignoring the homes listed at yesterdays prices.