Real Estate Corner – Recently Sold Properties in Mount Washington
http://www.flickr.com/photos/valeriebb/ / CC BY-SA 2.0
Thank you to Joan Goldman, Mount Washington neighbor and Coldwell Banker Residential Realtor, for this post. This represents properties sold in Mount Washington in the past 90 days.
| Address: | List Price: | Closing Price: | Days On Market: | Bedroom: | Full Bath: | Half Bath: |
| 2800 Manhattan Ave | $399,900 | $385,000 | 26 | 5 | 2 | 2 |
| 1607 Terrace Rd | $467,500 | $445,000 | 50 | 4 | 2 | 0 |
| 2604 Ken Oak Rd | $275,000 | $265,000 | 30 | 5 | 2 | 1 |
| 6105 Westcliff Dr | $285,000 | $283,500 | 8 | 4 | 2 | 1 |
Copyright: MRIS
Currently there are 23 active properties for sale in Mt Washington, ranging from $77,000 for a shell to $990,000 for 4BR, 2.5BA detached home.
According to the Market Watch by Coldwell Banker Residential Brokerage:
The length of time a property is on the market is a significant factor in the selling process. Buyers want to know how long a home has been on the market before making an offer. Most buyers will make a lower offer when a home has been on the market for more than 30 days. They assume the seller is so anxious for a sale, they will accept less. However, if a home has been available for only a few days, buyers tend to make offers closer to the list price. If the days on market are very high, some buyers will not even consider a property, thinking something may be wrong with it. Educated buyers know what is probably “wrong” is the price was set higher than current market values and they use high days on market to their advantage in negotiating lower offers.
Sellers need to be aware of days on market. The more time their home is on the market, the lower the offers will be from buyers. This is why properties almost always sell at their highest price in the first days of exposure to the market, especially in depreciating markets when prices are falling.
Mount Washington is still a very desirable neighborhood, as the Days on Market above reflect. From October – December 2009, the average number of days a house was on the market in Mt Washington was 45 days. This is fantastic considering that the previous 10 homes sold in Mount Washington (from July-September 2009) averaged 87 days on the market.
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