With $2,000,000 fast becoming the entry point for older tract houses, this is a good example of what to expect at the next level up – this closed for $3,180,000.
There have already been eight Olivenhain sales that closed higher this year!
No surprise that a brand-new chic ultra-modern home would sell for all the money. This is the sixth house in Olivenhain that has sold over $5,000,000 since the pandemic started:
They call this Olivenhain but the lot is only a half-acre plus Village Park is about 100 yards away.
One of my shorter home tours but I got the good parts.!
It was last year when Olivenhain homes selling for $3,000,000+ became a regular occurance.
This house?
2019: $2,310,000
2023: $3,965,000 (+72%)
Here is a glimpse:
There were two new Olivenhain listings today that were priced over $5,000,000!
The tiki destination!
I am running short on videos – there are fewer homes for sale, and the list of homes worthy of a video is even shorter. We saw this one a couple of months ago, and it just closed on September 16th for $3,600,000, which was $100,000 over list. Knowing that, the video might be more intriguing now?
Check out Kate’s Old-Spanish-style one-story listing on 2.27 acres in Olivenhain!
This just sold for full price, which was $2,990,000:
After she took five listings at the same price, I joked with the listing agent here that maybe every house was worth $3,200,000 now! I don’t think any of them were worth $3 million before this year, and this is the only one that has closed under list:
This listing hit the open market on April 18th, which was long after mortgage rates had gotten into the 5s. It went pending in the first ten days, but then it fell out of escrow three weeks later. By then, the doomer talk had escalated and reviving the market urgency would typically be more of a struggle.
They stuck with the $3,995,000 list price though, and another buyer snatched it up the next day and closed in two weeks at a slight discount of $3,850,000 cash:
There might be some turbulence in the marketplace being caused by the incessant doomer talk, but I haven’t seen any quality homes having to sell at a big discount yet.
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
CA DRE #01527365, CA DRE #00873197
