I featured 848 23rd back in late December. The seller and agent employed what I believe to be a brilliant listing strategy considering that this property was put on the market right around Christmas (and in the rain...the horror!). Instead of listing at some bloated price and have the property turn into a zombie, they listed at a very cheap price. A price that had several readers e-mailing me. I had a friend e-mail me because his co-worker saw it and wondered what was going on. Get it? High quality at a very cheap price elicited a giant amount of attention.
Next came the throngs of people willing to deal with a rainy open house during prime holiday gift shopping time. And of course, next came the bidding war.
My own sources and some astute observes guesstimated $1.35mm...
Listing History: 12/14/10 - $989,000
SOLD: 1/18/11 - $1,385,000
I'm a little surprised by this sale amount as it seems to indicate a very full price to me, but it is in line with the guesses of a few people. Some of you may want to compare this to 838 25th which sold in March 2010 for the exact same price but was actually rehabbed a bit so you could actually live in it. I would caution that it is not a complete apples to apples comparison in terms of location because the house on 25th backed up to the school whereas the house on 23rd is more of a super prime location (for south of Montana). So I don't think you can look at this and say that prices are rising much, but it sure shows they are pretty firm and not declining by a noticeable amount.
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