At least 18 classic homes in Greensboro and Guilford County have sold for more than their asking prices this spring and summer. That’s 17 percent of the 107 sales that I’ve tracked, a nice sign of strength for the local real-estate market. In many cases, the premium was a token amount, but, still, getting anything over asking price is worth celebrating.
Below are the eight that drew the biggest premiums (in dollars, not necessarily in percentage). They’re in the city and the county, in the more expensive neighborhoods you might expect and some lower priced neighborhoods as well. A couple could be classified as starter homes.
Oddly enough, there also have been at least four low-end rentals that have sold at a premium. It would seem as if there are way more than enough of those to go around in Greensboro, but a rental house on Elwell Avenue was listed at $31,200 and sold for $35,500. Smaller premiums were paid for houses in Glenwood, Piedmont Heights and, again, on Elwell Avenue (what’s up with Elwell Avenue?).
1504 Edgedale Road, Irving Park: + $68,000
- Sold for $717,000 on July 24 (listed at $649,000), 10.5% premium
- 3 bedrooms, 3 1/2 bathrooms, 2,835 square feet
- Price/square foot: $253
- Built in 1938
- Listed May 16, 2017
- Last sale: $450,000, August 2000
There have been a good number of high-end houses available in Irving Park this year (still are, in fact), but there must have been something special about 1504 Edgedale.
2959 N.C. 62 East, Liberty: + $25,000
- Sold for $145,000 on August 24, 2017 (listed at $120,000), 21% premium
- 3 bedrooms, 2 bathrooms, 1,400 square feet, 1.4 acres
- Price/square foot: $104
- Built in 1929
- Listed May 2, 2017
- Last sale: October 1996, price not available in online records
- Note: Property is in Guilford County but has a Liberty mailing address.
What makes a property sell at a premium? Right price, right place, good timing. And perhaps some intangibles that don’t show up in the property records.
5510 High Point Road, Sedgefield: + $9,100
- Sold for $209,000 on September 5 (listed at $199,900), 4.5% premium
- 4 bedrooms, 2 1/2 bathrooms, 2,711 square feet
- Price/square foot: $77
- Built in 1941
- Listed April 19, 2017
- Last sale: $225,000, April 2013
The owners accepted an offer about two weeks after listing it, but then had to wait four months to close. But for $9,100 over the asking price, why not? Sweet location: The house is on the little cut-off section of High Point Road that was bypassed by the rerouted Gate City Boulevard.
305 S. Elam Avenue, Lindley Park: + $5,250
- Sold for $255,000 on August 30 (listed at $249,750), 21% premium
- 3 bedrooms, 3 bathrooms, 1,642 square feet
- Price/square foot: $155
- Built in 1926
- Listed June 24, 2017
- Last sale: $200,000, November 2005
Nice little house. Great backyard for kids.
1603 Roseland Avenue, McAdoo Heights: + $5,100
- Sold for $120,000 on May 26 (listed at $114,900), 4% premium
- 3 bedrooms, 2 bathrooms, 1,032 square feet
- Price/square foot: $116
- Built in 1937
- Listed April 11, 2017
- Last sale: $112,000, June 2009
That second bathroom is a killer feature in a starter home like this.
2312 Fortune Lane, Guilford Hills: + $5,000
- Sold for $130,000 on June 21, 2017 (listed at $125,000), 4% premium
- 3 bedrooms, 2 bathrooms, 1,220 square feet
- Price/square foot: $107
- Built in 1940
- Listed May 9, 2017
- Last sale: $85,000, June 1995
- Neighborhood: Guilford Hills
Again, a starter home with two bathrooms. This one apparently had been a rental (it wasn’t owner occupied), but the property record now shows this as the new owner’s address.
700 Magnolia Street, Fisher Park: + $4,500
- Sold for $199,500 on April 27, 2017 (listed at $195,000), 2% premium
- 2 bedrooms, 2 bathrooms, 1,680 square feet
- Price/square foot: $119
- Built in 1900
- Listed March 1, 2017
- Last sale: June 1975, $15,500
The seller accepted an offer two days after putting it on the market.
2509 Sherwood Street, Lindley Park: + $4,000
- Sold for $263,000 on June 6, 2017 (listed at $259,000), 1.5% premium
- 3 bedrooms, 2 bathrooms, 1,850 square feet
- Price/square foot: $142
- Built in 1939
- Listed April 28, 2017
- Last sale: $232,000, May 2010
Another nice little house that demonstrates how popular Lindley Park is these days.