It was an interesting week up along the Virginia border. A cottage built in 1825 came up for sale at $349,900 in Milton. There are now six 19th-century houses for sale in Caswell County, including three in Milton.
Also, two of the week’s most interesting new listings are in Eden. A striking 1928 brick foursquare in the Leaksville historic district was listed Monday for $550,000. Its original owner was a surgeon and a founder of Leaksville Hospital. The next day, a 1972 Mid-Century Modern came onto the market for the first time. The current owner built the house 53 years ago and has lived in it ever since.
Mansion of the Week: This 1928 Tudor in High Point’s classiest old neighborhood came onto the market this week for $1.1 million. Just three years ago, it sold for $660,000. The listing then called it “a once-in-a-lifetime opportunity.” Maybe the opportunity they were talking about was the prospect of getting a 67 percent return on investment (money grab) in just three years.
Trend of the Month, Part 2: Reality checks. Prices of historic homes are still going up, but not as fast as some sellers think, especially in smaller towns. An impressive 1895 Neo-Classical home in Pilot Mountain closed this week for $410,000, down $150,000 (27 percent) from its original asking price 10 months ago. A Tudor bungalow in Thomasville sold for $255,000, down $99,000 (28 percent) from its original price in March. A big (3,700 square feet) 1901 restoration project in Mount Airy was listed almost two years ago for $329,000; its latest price cut this week dropped it to $215,000, down 35 percent. A 1914 house in Boonville is down to $375,000 (-17 percent) this week after being listed at $449,900 nine months ago. There are always sellers who guess wrong in pricing their houses, but there aren’t always so many.
Speaking of which, a nice little 1920 bungalow went up for sale in Winston-Salem’s West Salem Historic District this week for $362,000. That price doesn’t sound out of line, except the house is so small — less than 1,100 square feet. The price comes out to an absurd $343 per square foot. It’s no surprise the house is for sale by owner. A substantially larger Craftsman bungalow isn’t far away for just about the same price.
Piedmont Historic Homes 