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.”


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?

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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