The critical point in this video is when the second seller dropped 7% to make the sale after just three weeks on the market……even though that was 10% under the last sale that backed to power lines.
This is what can happen. Did they have bills to pay? Did the agent press them to take it? We don’t know, yet we consider every comparable sale equally and base our opinions on price alone.
The seller of the $2,225,000 sale had purchased it in 2013 for $1,109,000 and his mortgage amount was under $300,000. What’s a hundred thousand in either direction to him?
The previous high sale of this model was $2,100,000 in December, 2021.
The high sale before that was $1,750,000 in 2020.
The high sale before that was $1,320,000 in 2019.
Are we binary simpletons? Will the next seller and listing agent consider all of these variables? Or just go with $2,200,000 as the latest sale/current value and hope for the best? Or check the zestimate?? 😆
The next sale could go 10% to 20% in either direction, depending on the agent.