The bank-owned sale of 126 Chester Avenue closed escrow yesterday with a reported contract price of $505,800. And while that’s “13% over asking!” and with “Multiple Offers!” (a.k.a. “signs of a serious real estate rebound“…) it’s also 33% less than its purchase price of $750,000 in December of 2004 (and represents average annual appreciation of 3.3% over the past decade for the single-family house).
∙ A Banked Owned White Picket Fence And Dream (126 Chester Ave) [SocketSite]
∙ 555 Edinburgh Sells For 24% Over Asking (The Neighborhood Median) [SocketSite]