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Everyone’s journey is different.

Some people hire us on the first day we meet, and others take longer.

We first met the sellers of Meadow Wood in September, 2021, at which time I quoted their home’s value at $1,800,000. The market kept cooking, and by April, 2022 my price was up to $2,000,000.

But the last half of 2022 got rough, and by November my estimate had dropped quite a bit:

The only other sale in the neighborhood over the last 12 months had taken the long, hard road. It was about the same size and condition as our listing, and they started at $1,799,000 in May, 2022, which should have been right in there. But by the time they closed in December, the final sales price was down to $1,562,000.

By the time we signed our $1.8M listing agreement, it was March 7, 2023 – and we had prep work to do.

Conditions were improving, so we hit the open market on May 4th at $1,850,000.

The rest will sound familiar. I conducted the open-house extravaganza, from which we received six offers.  My transparent open-bidding process ran the price up to $2,000,000 with a long escrow plus rentback.

There are 171 homes in Bridgewater/Willowcreek, and this is the only sale of the year! Appraisers want to use comparable sales that are less than six months old, so my $2,000,000 will be the comp of the year for the neighborhood – and should draw out more sellers. We’ll see how they do!

I think we can say that my sale was at peak pricing – the same as it would have been in April, 2022.

https://www.compass.com/app/listing/1276-meadow-wood-place-encinitas-ca-92024/1303745761955629769

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