The listing for this renovated bungalow in the Old Fourth Ward is contradictory, in that it stresses how "Hot" the neighborhood is, but yet it has existed, as a listing, for two months. Unless there's some pending offer we don't see, that doesn't add up. And it's not the first O4W property that's struggled to attract offers lately, despite a dearth of inventory (roughly 10 standalone houses are for sale across the neighborhood right now). Is this an issue with the individual properties, or a symptom of the O4W's sizzle simmering down? In the case of this 1920 bungalow, it's maybe a four-minute walk to Ponce City Market, with three bedrooms and, according to the agent, more space than tax records reflect (1,467 square feet). The $415,000 ask includes off-street parking, granite, stainless steel, etc. And it wouldn't be the first smallish bungalow to sell for north of $400,000 in the vicinity.
Maybe buyers are allergic to lattice on decks? Or maybe the old adage is true: Nobody buys houses in the winter? In any case, this place isn't alone: A fully renovated four-bedroom house with skyline views on the west side of Boulevard has languished on the market for nearly a year, slashing its price by $100,000. And even coveted, stylish moderns have felt the pinch.
· 568 Winton Terrace NE [Estately]
· Falling Contemporary Prices in Red-Hot O4W. What's it all Mean? [Curbed]
· O4W 'Dream Home' Sparkles, But Is $549K Too Steep? [Curbed]