CFAH

1 Upper Road Ross

Marketed as “the finest residence in Ross,” the three-acre “Ross Estate” at 1 Upper Road has been on the market for over two years and listed for $20 million.

Earlier this year, the listing for the estate was updated to note: “One of six luxury homes to be sold at California Lifestyle Auction, deadline to submit offers is April 24.”

And now three days after the “auction” deadline has passed, the official list price for the property has quietly been reduced to $15.995 million, a sale at which will now be considered to be “at asking” according to all industry, brokerage and agent reports on the strength of the market and their marketing.

Comments from Plugged-In Readers

  1. Posted by anon$random

    yes, because the buyers of $15-$20M homes are going to look to this listing to see if it sold at or above asking when deciding how to spend their $15+M in cash…the “at asking” stat means nothing.

    • Posted by SocketSite

      …the “at asking” stat means nothing.

      We couldn’t agree more. And it’s good to remember the next time you see a report in the media or your inbox touting the relative strength of the market, or an agent’s or brokerage’s prowess, that’s based on sale to list price stats.

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