Buying A Home
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Has anyone seen this before - price increase instead of decrease?

A friend sent me a listing in her neighborhood this morning, but it must be an old listing because when I looked on Redfin the price was 485 and on the listing she sent me from another website it was 395.  I looked at the history on redfin and it was originally listed for 409K in December and then had a price change to 395K in the end of January and then two weeks later the price was increased to 484K.  It's new construction so I don't know if that has something to do with it, but I was wondering it this was typical.  I'm even more confused because Redfin says in the property history that it is delisted, but at the top it says MLS for sale.

TIA!

Re: Has anyone seen this before - price increase instead of decrease?

  • If the price went up its probably because of changes to the contstruction - maybe an added finished basement, maybe additional square footage, an extra garage was added or just because of upgrades, hardwood vs. wall to wall etc. 

    Many times with new construction listings the homes haven't even been started yet.  If you go to the property there might just be vacant land there.  The photos shown on the MLS might be stock photos from another home they've recently built etc. 

    It's very typical for new construction listing prices to fluctuate because of that. 

  • Damn that is actually a really big increase though. I wonder what they added to the house to justify that.
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  • I'd contact the listing agent.  It could be a typo or a major change to plans; it could also be pending sale or a sale fell through at a higher price (due to a bidding war) and so they went back on the market at a higher price?  Who knows, but it could be worth a quick e-mail.
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  • I have also seen them with new construction list the lot with a house they could put on it. It could be that they listed it with one plan and changed the house plan all together.
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