Business & Tech

Home Price Reductions Lead to Accepted Offers in February

Piedmont recorded the sales of five homes last month.

Amy Jeffries, Patch StaffVerified Patch Staff Badge
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The five Piedmont homes that sold in February had all lingered on the market for at least 11 weeks. Three sellers dropped the listing price for their property by $120,000 or more before getting the ultimate buyer's bid–two of those accepted offers were still below asking. 

Typical of the start of the year for the Piedmont real estate market, the beginning of 2011 has been slow, with just one home sold in , and now five in February. But sales of five more homes are currently pending, foreshadowing the more active spring market.  

 

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Bedrms Bathrms Original List Sell Marketed

124 Magnolia Ave

4 2 $999K $869.9K $780.9K 189 days

65 Wildwood Gdns

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2 1 $875K $875K $815K

95 days

816 Blair Ave

4 3 $1.1M $975K $975K 144 days  16 Sotelo Ave 5 3 $1.695M $1.575M $1.315M 82 days 33 Sotelo Ave 4 4  $1.899M $1.728M $1.7M 67 days

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Property closing information was provided by Matt Heafey, Realtor at The GRUBB Co.

CORRECTION: This story has been updated to reflect that 33 Sotelo Ave also sold in February. 

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