The market has entered an interesting phase; mass confusion and chaos. It doesn’t have a leader or a sense of direction, so offers and prices are all over the place. Example; unit 1906 at The Mirabella closed at $1.2M in original condition. Yet similar size unit on the same floor in brand new condition fell out of escrow at $2.350M, asking $2.6M and just received an offer of $1.3M. Stunning new mid-century Modern in Little Holmby had four legitimate full-priced offers to lease at $8,900, yet no offers to purchase at $2.5M, even though that was the better value. No one likes a “fixer”, yet our “fixer” on Strathmore is getting a lot of play, even though it’s not on the market yet. Very confusing.
