Last November, 2760 Sacramento #3 (a 1,220 sqft. first floor, one bedroom, one bath condo without parking) sold for $827,000. Three days ago, the asking price for 2760 Sacramento #11 (a 1,220 sqft. top floor, one bedroom, one bath condo with parking) was reduced $40,000 after failing to sell at $795,000.
If you assume parking is worth $50K (which is probably conservative), a selling price of $755,000 is effectively $575/sqft., or about 15% less than the buyers of #3 paid ten months ago ($677/sqft.). Either we’re missing something (so let’s hear it), or once again, this might be evidence of a potentially troublesome trend.
Regardless, if you’re planning on hitting the open house this weekend, bring your trunks/bikini and a towel. The building has a sweet little pool…
∙ Listing: 2760 Sacramento Street #11 (1/1) – $755,000 [Coldwell Banker] [MLS]
∙ A Troublesome Trend? [SocketSite]