Congratulations to Kelly and team for their new listing of this iconic 6,329sf masterpiece on the bluff by Wallace Cunningham – the same architect who designed the Razor House in La Jolla (that Alicia bought):
There were foundation repairs here too:
This sold for $6,000,000 cash (5% over list) and 7-day escrow:
Some homes are selling for less than their list price!
The original list price was $4,925,000 and this just closed for $4,226,625 for 6 br/6.5 ba, 6,031sf on a 37,026sf lot. Buyer had a license so they discounted the price instead of taking the commission:
This is the third sale that has closed since I set the ER sales-price record of $3,760,000 in November. This just closed for $2,900,000, which was $25,000 under list. For those who are wondering about future prices, this should be an example of the range to expect as we roll into Plateau City this summer.
I was just saying the other day that we’re due for a sale that closes $1,000,000 over the list price……but I’m not going to count this one.
The seller had been telling agents that he wanted $4,000,000, and it went on the Compass internal site at $3,260,000 for a few days before the MLS. Darin sold it and he lives in the ER so he probably knew that the seller’s intentions were to get into the 3’s. The list-it-low strategy worked though!
It does continue a strong run of closed sales in the $3,000,000s over the last year – with my November sale still the all-time leader:
There were five new Encinitas Ranch listings that launched last week. All had open houses last weekend, and it was busy (I saw three).
It’s probably not surprising to hear that the two that went pending were the lowest-priced listings. The 3,501sf house was a one-story and on the golf course too, so their reasonable $2,500,000 list price was very attractive. The seller had talked to five Compass agents, and he told me that he wanted $4,000,000. Hopefully he got over $3,000,000?
I heard one buyer say that he was tired of the big rush in the beginning, where buyers throw crazy money at the seller. He said that he was going to hold back, and see if it happens here.
It was feeling more…..normal. Dare I say?
Darin and I are buddies so I don’t think he’d mind if we tour his listing of 649 Cypress Hills:
The new listings of 2022 are only trickling out, but we know that there can be spurts.
We’re seeing one underway in Encinitas Ranch, where five listings are hitting the market this week! The three Coming-Soons will all change to active listings on Saturday.
Buyers – there is hope!
Whenever there are two or more homes for sale in a neighborhood, there is one fact of life:
Either yours is selling mine, or mine is selling yours.
The chances of EVERY house being perfectly priced to reflect their condition AND compare favorably to all other choices is about the same as the Padres chances of winning the World Series. It’s possible every year, but come on.
There are times when NONE are perfectly priced, causing a stalemate and no sales.
The market is hot enough that at least one of these listings will compare more favorably than the rest, and will sell this weekend. With few or no other choices for sale currently, the ultra-hot frenzy conditions could pick up two of more of these listings.
Let’s see how many go pending in the next seven days!
A glimpse of the Cyclovia today in downtown Encinitas, plus a couple of open houses:
On Sunday, I will be the Compass host of Cyclovia!
I’ll be handing out swag and talking up the 2022 frenzy – stop by and say hello!
Our office is on the corner of F Street and S. Coast Highway 101: