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Reply to "New listing in cleveland park! "
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[quote=Anonymous][quote=Anonymous]Sold for $2.9M in March 2017, when the renovations were done. Cleveland Park's appreciated well over 20% since then. Another point in favor of somewhere in $3.5-4M, but not $4.2M.[/quote] This is key. The renovations WERE done when it sold in 2017 for $2.9 million. So 2017 is a great comparison and there was no recent flip at all. As a rule of thumb, I use 35% for appreciation immediately pre-pandemic and now (2017 is close enough to "immediately pre-pandemic" as there wasn't really much appreciation between 2017 and 2019). I won't discount the 2017 renovation because this still looks very nice and pretty current (too much marble and dark floor color notwithstanding). This 35% formula makes me think $3.8-$4.0M would be a better price. But maybe someone will bite at this price! [/quote]
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