Over the last six months in Encinitas:
There were 183 sales of two-story homes, and they averaged $744/sf.
The 98 sales of one-story homes averaged $952/sf, or a 28% premium!
Let’s also note the price discovery here.
The sellers and agent were smart to lower the price early and often to keep the urgency alive. There was nothing wrong here that price wouldn’t fix, so they did three reductions in less than a month:
I wonder if they had listed at 1.6, would they have had a bidding war up higher than what they closed on.
I can see the value in both strategies.