In this era of slowing housing sales and mainly price reductions, I have been surprised to see a small handful of actual price increases. Don’t know the story behind each, but interesting to see the asking price going up in this environment.
Price increase #1 is a Sausalito condo co-op that I wrote about a week ago that came on the market for $199,000. Seven days later, the listing, at 4 Buckelew Dr, has just gone up $26,000 and is requesting $225,000. My only guess is that they decided to raise the price after a similar property at 2 Buckelew Dr, debuted at $225,000, 3 days after its premiere.
Price increase #2 is a self described San Anselmo fixer upper. On the market now for 17 days, the original list price was $785,000. 156 Oak Springs has 5 bedrooms and 3 baths and almost 2400 square feet. There was a price reduction on Tuesday, which lowered the asking price to $749,000. For Thanksgiving, they decided that somehow that was not appropriate and put it back up for $785,000. A nearby home at 25 Oak Springs is a 4 bedroom, 3 bath property which has been on the market for 64 days. It was first listed for $949,000 and now is asking $839,000. It looks like there are mixed signals this neighborhood.
Price increase #3 is also in San Anselmo. Located by downtown at 15 Belle, this property has been on the market for quite some time…. 163 days. First listed in the summer for $1,195,000, it went through a few price reductions: first to $1,095,000, then to $1,050,000 and finally going under the $1 million mark at $999,000. Then about 2 weeks ago, the price jumped back up by $196,000 and it is asking $1,195,000 again.
I’m sure there is a lot of other data that I don’t have the history on which supports these pricing decisions, but in general, finding price increases are a bit unusual given the general state of the market.
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