The Last Great Bargain?

Sabrina Robb represented the buyers of this fine property on West Polo Drive.  The sale, which closed in January at $2million, was an exceptional bargain for 7,300 square feet of living space on .62 acres.  Originally priced at $2.5million and built by a seasoned luxury builder, it is one of the most exciting new homes built in Clayton in recent years.



Front Photo from CB Gundaker's MARIS listing

When the market shifted in 2007, there were a number of high-end spec properties under construction. In By 2009 many of those were competing against re-sales and several had been taken back by the banks.  This made for a year of good deals in 2009;  alot of the inventory cleared out and builders took a break.  At the moment, there are no longer any distress or REO properties available.  Looking at new and newer in 2010, which was still a difficult year for the upper end, the price per square foot increased by nearly 13%, selling price to asking price improved, and days on market decreased.

Was this this last great deal on luxury new construction?