As we outlined last year, the roughly 6,000-square-foot home at 22 Toledo Court, which sits on nearly an acre of land “in the heart of Lafayette’s sought–after Happy Valley,” was designed by Alan Page and features “elite craftsmanship, state-of-the-art technology, elegant lines and quality finishes throughout,” with an infinity-edge pool, outdoor fireplace and a covered loggia adjacent to its outdoor kitchen with a built-in barbeque, refrigerator and views of the surrounding hills.

Listed as a “once in a lifetime opportunity,” with a $6.595 million price tag in the second quarter of 2017, the brand new 5-bedroom home sold for $6.3 million that June.

Having returned to the market priced at $6.195 million in the second quarter of last year, the home ended up re-selling for $5.525 million last November, down 12.3 percent ($775,000) on an apples-to-apples basis while the “median sale price” in Lafayette was up.

And having suddenly returned to the market priced at $5.495 million this past June, the re-re-sale of 22 Toledo Court has just closed escrow with a contract price of $5.1 million, down another 7.2 percent over the past nine months on an apples-to-apples basis and down a total of 19.0 percent since the second quarter of 2017.

Comments from Plugged-In Readers

  1. Posted by Bernalkid

    Sure seems to have a lot of steps up and down on the first floor level. Not very ADA friendly. It has turned over a lot in a few years.

  2. Posted by SFRealist

    I wonder whether fire season is a good time to show this property.

    • Posted by The Milkshake of Despair

      The landscaping provides defensive space around the house. That’s a good selling point.

      • Posted by Shonkin

        I dunno. At the south corner the house is very close to a lot of crowded trees. The stone or imitation stone facing on the house is good, as good as stucco, but the house would be much safer in the event of a wildfire if the roof were terracotta tile or metal. (Manufacturers make very attractive anodized aluminum shakes, for example.)

        • Posted by SFRealist

          I think this is it. The East Bay is only getting hotter and dryer, and if I was in the market for an exurban home there, the first thing I would look at is the fire risk.

          It looks like they’ve done pretty well with this property in that most of the yard is dirt. But you have to look at construction details.

    • Posted by SFRealist

      Especially right now. Things look pretty smoky in over in the east bay.

  3. Posted by Alai

    I thought everyone was fleeing the city for a pandemic retreat… Seems like a nice place for it.

  4. Posted by scurvy

    Upper Happy Valley (which is actually south) is much nicer than Happy Valley. But that’s not the reason for the price drops. Upper HV holds its value better than HV.

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