Two years ago 25 Mercedes Way was listed for $1,895,000 and sold for $2,200,000. Six months ago 25 Mercedes Way returned asking $2,099,000. And five days ago the sale of 25 Mercedes Way closed escrow with a reported contract price of $1,765,000.
That’s a $435,000 (19.8%) drop, not including the cost of that new kitchen, for this Joseph Leonard designed Arts and Crafts home in District 4 (Ingleside Terrace).
∙ We’re Buying It (The Description Not The House) [SocketSite]
∙ Still An Architectural Work Of Art, But Still A Bidding War To Be? [SocketSite]