And another winner is announced

23 Widgeon Way, asked $1.395 and just closed at $1.625 million.

The listing claimed it was “An amazing Opportunity in Prime Neighborhood with $3m+ Sales”, and perhaps it is. The highest price on this street came during another price war this past April, when a house looking for $3.150 million sold for $3.3, but the old “3/3/3” rule of thumb for building spec houses: 1/3 for land, 1/3 for construction, and 1/3 profit and overhead would bring the target price for anything new here to $4.875. It won’t get that, but maybe “this time will be different”.