As we wrote in June:
“The nearly identical sister home to 862 Wood Street in the Lower Bottoms neighborhood of West Oakland, which was listed for $824,500 in April and sold for $1,025,000 last month, has just been listed as well.
While the best comp for 864 Wood Street would seem to be 862 Wood, which sold for $457 per square foot, 864 Wood, which measures an identical 2,245 square feet, has been listed at “$849,000” or $378 per foot.
And as such, expect 864 Wood to sell for well “over asking!” (or for a massive wave of buyer’s remorse next door).”
And indeed, the sale of 864 Wood Street closed escrow yesterday with a contract price of $1,125,000 or just over $500 per square foot, an engineered “33 percent over asking!” but a noteworthy 10 percent over the price at which its closest comp sold two months ago.