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January 17, 2011

Sellers Take Hits in the Heights


Two big sales closed last week, both for substantially less than their original asking prices. Though the sellers of these Cole Valley/Parnassus Heights and Buena Vista/Ashbury Heights properties were probably a bit deflated, I’m sure the homes’ buyers ended up feeling pretty snappy. Here’s how things went down:

226 Edgewood is a 4BR/4BA home (see photo) that hit the market at the end of October 2010 for $3.5M. The sellers did a price reduction in early December, resulting in a $3,150,000 list price. An offer was accepted shortly thereafter, and the final selling price was $2.9M.

Over in Buena Vista/Ashbury Heights, the 4BR/3BA home at 893 Ashbury came on the market in September 2010:

The initial list price was $1,795,000, and the sellers made a couple major price reductions in the ensuing months. The sale closed last week for $1,385,000. Seems about right for a home with no garage.

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