Price increased by 200K after 20 days in market?

I love this area but what’s going on here?

Owners can ask any price he wants. The long DOM suggests time is against his wish…
A few units near the elevators is noisy inside. One can smell curry or soy sauce in the hallway…

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Have you noticed this sale? Looks like they corrected listing to reflect the nearest sale instead of Low listing.

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I’ve seen this recently. What’s happening is that sellers were pricing low expecting crazy buyers to bid up high. The price they listed is not really what they were expecting. Since the market has softened, houses are only getting maybe 1 - 2 offers so there’s no crazy bidding going on. With 1 - 2 offers, buyers are typically offering close to asking. After realizing that this is not the strategy, they increase the price so its close to what the seller is expecting. The sellers are still living in March/April 2018 while the market has changed a lot since then.

Why didn’t they do it in the first place? They listed on July 11 and the last property was sold in April.

Looks like they knew the market has softened and tried to keep price attractive to generate more interest. Didn’t happen so trying to reveal real seller expectation through the update price. I am sure you will be able to buy this one on list or lower.