Chicken Little Syndrome – Falling Prices in North Park
It’s a very curious thing, this market we’re in. Prices are going up and down and all around. It’s no wonder buyers are confused and disoriented. North Park home values seem to be holding their own, depreciating steadily but not remarkably. Here are some recent price reductions. As you can see, prices are coming down a little, but sellers are holding their own (including banks as sellers) and not budging off bubble prices anywhere near past sales prices, with the exception of sales that occurred during the boom, in which case they seem to be depreciating somewhere between modestly and significantly, but certainly not anywhere near pre-boom prices.
Was $689,000, now asking $669,000. This 1940 home has 3 beds and 2 baths. It’s Zestimate is $519,609 and it last sold for $183,000 on 11/21/97. On Redfin 21+ days.
Was $235,000, now asking $220,000. This 1924 home has 2 beds, 1 bath. It’s Zestimate is $365,827 and it last sold for $386,000 on 2/12/07. On Redfin 66+ days.
Was $385,000, now asking $329,000. This 1939 home has 2 beds and 1 bath. It’s Zestimate is $351,170 and it last sold for $195,000 on 8/6/01. On Redfin 78+ days.
