Under $1.25 million in Dollar Point is en fuego now with 3 homes in escrow – 2 were on the market for 6 and 20 days respectively. This is quite impressive given that the average time on market in this area is roughly 100 days. We saw this in 2016 but what’s interesting about the activity now is that it is hitting before the summer season. There are only 5 active listings in Dollar Point. The number of homes offered for sale is usually between 15-20. See all listings here.
Some 2016 highlights: Five of the 23 sales in 2016 we are at or over the asking price. A lakeview home on MLS at $2.7m had multiple offers. A panoramic lakeview home on Edgecliff Court sold for $3.6m; another pano lakeview in need of updating sold for $2.4m. A soulful lakefront fixer – many called it a teardown – was offered for $4.3m but was rejected by the market.
2016 year-over-year volume in Dollar Point ended up slightly behind 2015. The number of sales, time on market, average and median prices were all similar to 2015. It should be stated that one of the 2015 sales was Alex’s for $8.199m which skews the data a bit. Dollar Point is highly desirable. Total sales volume over the last 6 years has ranged from $8.3m in the anomaly year of 2011 to the upper-$20m’s during ‘normal’ years.
See my 2015 Dollar Point year-end summary here
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3266 Edgewater Drive. Sold by Alex for $8.199m.