Maximum Overbid: The Photos Really Do Matter

It was another downbeat week for oversells, at least compared to the surreal highs we’ve been used to for the past 12 months and more.

For all that, the top seller this week, 150 Morningside, still landed more than $2.4 million and only needed a round dozen days on the market to seal the deal.

That’s actually a tiny bit less than we might expect for a five bed, three bath single-family property of this size, but being as it’s tucked down in Lakeshore (actually just a couple of blocks east of the zoo) this is pretty much par for course.

There was a slightly weird head-fake going on with the asking price of this Morningside Drive property, namely that when this house last sold in 2016 it was asking the exact same sum but ended up taking an underbid offer of more than 20 percent.

Now here we are and those owners put it up asking that price again and they scored more than 30 percent over the asking–and it’s not like 2016 wasn’t a hot market in its own right.

There was a little work done on the place in the meantime, including replacing one of the bathrooms, but the real distinction just seems to be that this year’s listing just plain looked better, whereas the previous listing made the place look dark and cramped, with only a few images.

It may not always be fair, but the fact remains: Presentation matters–to the tune of about a million dollars in this case.

AddressBR/BA/UnitsDOMList PriceSold PriceOverbid
150 Morningside Drive5/3/N/A12$1,875,000$2,480,00032.27%
135 Paris Street3/3/N/A14$1,395,000$1,800,00029.03%
1039 kirkham Street3/3/N/A7$1,950,000$2,500,00028.21%
2527 Quintara Street2/1/N/A11$1,095,000$1,395,00027.40%
975 Plymouth Avenue5/4/N/A12$1,395,000$1,760,00026.16%
329 Eureka Street3/2/N/A11$1,495,000$1,875,00025.42%
64 Nordhoff Street3/3/N/A8$2,295,000$2,750,00019.83%
123 Judson Avenue2/2/N/A9$989,000$1,173,00018.60%
126 Springfield Drive3/2/N/A13$1,395,000$1,650,00018.28%
268 Parque Drive4/2/N/A7$949,000$1,100,00015.91%

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