So far this year more listings priced at $1,000,000 & Up have been cancelled or expired than have sold - and that’s counting only the expired/cancelled listings that have not been relisted. 23 listings priced at $1,000,000+ have expired or were canceled and have left the market, vs. 17 sold this year.
And while the owners of 6268 N Whaleback Place in Ventana CC, mentioned here
> lightning strikes twice <, didn’t totally give up, they did, in the end, throw in the towel.
After 507 days on the market at $2,795,000, with not a single price cut, yesterday they let it go for $2,000,000 ($268/sf). 6268 N Whaleback Place Tucson, AZ 85750 (listed by Long Realty) link expires on 7/11/14
And considering that it was a very special house, with little if any real competition, and with a good track record – selling for $2,950,000 in 2006 and $3,100,000 in 2008 - and the price had never been cut, I was convinced they would hold out for closer to $2.4. And might actually get it. And no one’s ever accused me of being overly optimistic about the high-end market.
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