So I’m wondering if the ppl buying these homes over $800k are paying cash, and if they’re immune to rising rates. The house on the corner of Ballentine and Lake St just sold for $800k and is in way better shape than the house that sold for $820k on the corner of Delavan and Parker. I don’t have the answer here, but I could see a contractor paying $500-600k for this one and remodeling it.

Look at the brown house on Elwood, it sold at the start of Covid for $350k (total remodel needed); it sat for a year or so and was sold for $600k with no work being completed on it. Interesting to watch!