The two,385-square-foot dwelling, set on 1.1 acres, might not appear like a luxurious property at first look, however its hovering sale value tells a distinct story. The property, situated at 284 Forest Drive South, hit the market on Dec. 13 for $1.1 million and went beneath contract a brief week later.
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A house in Millburn, New Jersey’s Brief Hills group has made an enormous splash available in the market, sparking a bidding conflict earlier than promoting for $1.72 million — $620,000 over its asking value, regardless of its modest measurement and look.
The two,385-square-foot dwelling, set on 1.1 acres, might not appear like a luxurious property at first look, however its hovering sale value tells a distinct story.
The property, situated at 284 Forest Drive South, hit the market on Dec. 13 for $1.1 million and went beneath contract a brief week later.
Whereas the house offered for a excessive value, it’s commonplace for the neighborhood. In response to Saritte Harel of Keller Williams Realty, who represented the vendor, many houses within the space are priced round $1.7 million.
Harel confirmed that the property drew huge curiosity earlier than promoting on Feb. 7, partly on account of its situation.
“We had 24 offers and 110 showings. There was quite a lot of traffic,” Harel instructed Inman.
“It was an estate sale,” she continued. “The owner was 100 years old and lived in the house for a long time, but it was well maintained.” The house, in-built 1948, was offered in as-is situation.
Nevertheless, the house’s prime location might have been its largest promoting level.
In response to Harel, curiosity assorted between builders and native households.”It wasn’t essentially just for a builder,” Harel mentioned. “Local families thought about the opportunity to renovate the house, and a lot of builders from all over the state were interested in it as an investment opportunity. It appealed to everybody, and I think that was what made it so exciting.”
Harel identified an rising pattern — tight stock is pushing consumers to broaden their searches. “A lot of buyers are being creative and looking at things that otherwise wouldn’t have worked out. I’m also seeing Realtors who are showing my listings in Troy Hills, Fort Lee, Hoboken,” she mentioned.
Inside, the house options 4 bedrooms, two and a half bogs, hardwood flooring and new home windows. There’s a basement for extra storage.
Located close to the Cora Hartshorn Arboretum & Chicken Sanctuary, a woodland backyard, the house affords a mix of privateness and tranquility. There’s additionally quick access to the New Jersey Transit MidTown Direct practice station and the Glendale Elementary College.
In response to Harel, the native household who bought the property plans to rebuild.
