Beechcroft Road sale price reported; no surprise, it went via multiple-bids

20 Beechcroft, listed at $4.595 million, sold for $5.1. The shortages and delays being encountered by builders, reported below, are definitely having an effect on buyers; I have clients who, not finding an existing house that suited their needs, were tempted to build new on a lot that was in exactly the location they require, but ultimately balked because, at least in part, of the uncertainties of getting it finished in a timely fashion.

As brother Gideon has mentioned more than once, there’s a premium now for houses that are in move-in condition, no work necessary. This sale is an example of that.

An additional thought: you can still overprice your house, and it will sit (if you haven’t received several good offers in 15 days, you are probably overpriced, and if the house is still sitting unloved and unwanted after 30 days, you are definitely way off target). But there’s never before been a time in my memory where the market has corrected underpricing so quickly and enthusiastically.