Multiple Offer Multiple Choice
This (admittedly nondescript) brick cottage in St. Louis Park’s Fern Hill neighborhood came on the market June 1 at a list price of $90,000, and was switched to “Pending” 10 days later.
The transaction closed August 13 (and was just posted on MLS this morning).
What was the sales price?
A. $77,500
B. $86,200
C. $90,000
D. $155,000
Answer: “D.”
Shocked?
Not if you’ve been following the lower end of Fern Hill’s housing market (or reading this blog!).
Clue #2: the property’s tax assessed value for just the land — often a conservative number — is $145,900.
Bonus questions: 1) how many offers were received?; and 2) what do you suppose will sit on this lot by next Spring?
