when homes sell for more than data would Suggest

Circumstantial Pricing

A home can sell based on a circumstantial price.  Market based prices are based on what the market appears to support based on actual sales as interpreted by unbiased objective eyes.  But houses don’t always sell within those confines.  Some houses sell at circumstantial prices.  If there is a particular circumstance that leads a buyer to really want an exact home at this exact time they may pay a circumstantial price vs a more market driven price.  If a certain price is the only option they have to acquire a home and they really want the home they may pay the price.

Examples
-a loved one lives very close by
-there is a combination of factors that they really really want that are not bundled together in another home on the market.  Maybe a separate guest house, with a 6 car garage for their toys and a view lot in the exact area they want to live.

I sold the home on this page for more than relevant comparable properties would indicate.  As is unusually ther case with this dynamic, the sale happened shortly after we started marketing it (3 days in this case).