Sep 24, 2007

Sale of the Week

Sale of the Week—Hinsdale

List Price: $2.95 million
Sold Price: $2.325 million

The Property: Built in 1996, this 11-room house in Hinsdale has a contemporary grand foyer and stairs, a media room with its own ticket booth, and a backyard lap pool and waterfall. The house first went on the market a year ago, with an asking price of $3.249 million; the sellers, whose names are not in public records of the sale, took it off the market for the winter. They put it back on the market this past April, at the same price and with the same agent, Linda Feinstein of ERA Jensen & Feinstein. After a few months they cut the price to $2.95 million, and in August they made a deal to sell for $2.325 million—nearly $1 million below their original asking price. (Feinstein says the sellers have moved into the city.) The deal closed on September 12th.

Price Points: While the sellers, who were the original owners of the house, got far less than they first hoped, Feinstein says they were fortunate to sell it at all, given Hinsdale’s logjam of unsold houses in the $2-million to $3-million price range. “There are 52 houses on the market in that range,” she says, “and in the past 12 months, we’ve sold 22.” If that pace is maintained, that means there would be enough high-end houses available to feed the market for more than two years—although as Feinstein notes, Hinsdale notched 66 home sales in that same price range in 2005 alone.

Buyers: Not yet identified in public records
Listing Agent: Linda Feinstein, ERA Jensen & Feinstein, (630) 325-4343

Posted at 08:50 AM in Sale of the Week | Permalink

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