Record-Shattering Home Sale in Traditions Hamilton
Updated: Apr 23, 2018
Life is imitating art in Hamilton’s Traditions neighborhood.
Whether or not you watch Bravo TV’s popular real estate show “Million Dollar Listing,” there is big news for the Traditions real estate market. 55 Alconbury Way just sold for $995,000. Until this month, the highest sale price in the neighborhood was $925,000.
The asking price of 55 Alconbury Way was $959,000 and it was an all-cash transaction.
Because the purchase was all cash, no bank appraisal was required, so the sellers didn’t need to worry about a bank effectively rejecting the buyer’s high bid.
55 Alconbury Way is a lovely home with no rear neighbors, but it's in mostly original condition (kitchen and bathroom finishes). It was built in 1999.
Just days before 55 Alconbury Way closed, another important sale happened in Traditions. 42 Mildenhall St. closed escrow for $952,745. It had been listed for $924,500.
Before these 2 sales, prices had been hovering for many months in the $900,000-$915,000 range. The highest Traditions sale price had been $925,000 and that was in April 2016.
If you live in Traditions, you know that the homes were all built at nearly the same time, by the same builder, and are all very close in size. As a result, every sale can impact the next.
The question going forward is: will buyers view 55 Alconbury Way as an outlier? Or will the high $900,000s become the new standard for the neighborhood?
WHO WANTS TO HAVE THE FIRST MILLION-DOLLAR SALE IN TRADITIONS? Call us today to talk about the possibilities in this incredible market! Kevin is at 415-725-1911