More Record Breaking Evidence of the Incredible Strength of Our Local Real Estate Market
The past few days are ones that will live long in the memory here at The Nicoli Group and for some very good reasons.
A few weeks ago I wrote a blog called "Just how far over asking price can a home go these days?" (click here to read it), following an amazing over-list price for a well located, but modest, home in Sunnyvale.
Well this week our own sales efforts have provided a ton of further evidence of just how fantastic the market is right now.
Nothing gets me more fired up than breaking records for my wonderful clients and we've just achieved that in Sunnyvale!
Last week we sold 679 Durshire Way for over $400k above asking price (listed at $1,799,000 and sold for $2,271,000).
My favorite part of this incredible deal was getting my sellers no less than 14 offers and negotiating over $150 per square foot higher than anything that has EVER been sold in the neighborhood! Needless to say, the sellers are thrilled and so are we.
As if that weren't remarkable enough, consider what's happened with the sale we've just finalized for 221 Fremont Avenue Los Altos.
The home is situated on one of the very best lots in all of Los Altos, with nearly one acre flat and within walking distance of the town.
221 Fremont Ave was listed at $4,175,000 and we attracted three offers and managed to achieve a price for our sellers almost $200k above list!
Perhaps the most interesting aspect of this sale is that the new owners intend to tear down the present home and build their own amazing new house there. Hard to believe that's what a tear down is selling for nowadays, but there it is! We can't wait to see the new property as it progresses.
I think what these incredible results prove is that, with the right property in the right location, it's arguable that the sky's the limit!
Let's also remember that these stunning sales are happening at a time of year that many people, very incorrectly, consider to be a quiet one. If you read these blogs regularly, you'll already be aware that I've been stressing how great selling your home at this time can be (read more here and here). Well, here's the living proof just how good it can be!
Of course the supply/demand equation comes into play and continuing low inventory and tremendous buyer sentiment is the perfect recipe for offers to come in over asking price. And when all the stars align, as they did in the two situations mentioned above, the rewards can potentially be absolutely tremendous and way above reasonable expectation levels.
Clearly there are now so many signs that our real estate market is subject to some very unique dynamics that demonstrate what could even be unique seller's market conditions, in comparison with the rest of the nation. No one else has our tech industry infrastructure, of course, which is another strong factor influencing the spectacular price growth we're seeing more and more evidence of.
If you've been considering a home sale, I am sure you will be intrigued by our recent successes as outlined above, so why not call us today for an informal discussion of how our unique marketing strategies can be put to work for you.