Asking $4.5M, Ellensburg estate sells for $7.5M

On September 6, a 52-acre estate featuring a 17,000 square-foot custom home perched on a hillside in Ellensburg listed for $4,500,000. Built in 2006, the massive estate overlooks pasture fields and takes in views of the Stewart Mountains and Cascades.

Given the state of luxury real estate and the desire for high-end buyers to have a retreat just off the beaten path, we figured this place could see a buyer quickly. We were right, but what we didn’t expect was the sale price: $7,500,000.

That’s 67 percent over asking price, which is the kind of thing you usually see in bidding wars involving $300,000 teardowns, not multi-million dollar home sales. As-is, that makes it one of the ten biggest over-ask sales in the United State in 2016, per Open House.

Why did it go so much higher? We don’t know for sure. We also don’t know if the place will ultimately be a luxury home for one owner or a destination for multiple short-term renters. The property includes a barn, caretaker quarters, stables, and the original residence.

The main residence itself could go either way as well. It could be an opulent one-family home or it could be a home base for multiple guests. The multiple bars, outdoor pools, movie theater, and indoor grotto give you all the options.

• Most expensive homes sold in 2016 over asking price [OH]
• 401 Victory Lane [OH]