These days, it’s pretty common to spot a great listing and watch it go under contract faster than you can say, “Jeeves, fetch me a Realtor!”
So when I spot an Oak Lawn townhome like the one at 3316 Hawthorne Ave. #3316, which has been on the market for 160 days, I have to scratch my head. It looks magazine-worthy, has over 2,000 square feet, and is located in a highly desirable neighborhood. So what gives?
This unit, in the Park Place Townhomes, is 2,025 square feet, with two bedrooms, two bathrooms, three stories, a custom kitchen, plaster walls, private courtyard, hardwood floors, a private elevator, and oh, so much more. It is listed by Chris Pyle at Dave Perry-Miller Real Estate for $394,900, or $194 per square foot.
Looking at the neighborhood comparables, it’s on the high end—others sold for $131, $138, $167, and $184 per square foot. But another unit in the same Park Place Townhomes sold for a dollar more per square foot in December, and it has only 1,149 square feet.
Could it be the school district? This townhome is located in DISD, and nearby comparable properties located in Highland Park ISD sold for $197 to $254 per square foot. But the unit that sold for a dollar more per square foot is also in DISD. So the jury is out on that factor.
Mandatory monthly HOA fees of $1,117 are on the hefty side, and do not appear to include utilities, so that is a potential issue that might be dissuading buyers. But it’s not an unheard-of amount for this area.
Let’s take a look inside and you tell us your opinion on today’s Thursday Three Hundred.