Vulture, if you ask that type of question on a Forum like this, the answer will ALWAYS be the buyer paid too much and prices should be under $200, or under $150, or under whatever price was actually paid. So, your answer from someone named KamFongasChinHO should bear no weight – whatsoever!
IMHO, the winner here was both parties. The buyer got a great home in a great neighborhood for a really fair price. Whether they underpaid or overpaid is of little consequence over the long term for this buyer who likely will live there for a long time. The seller won as well because they likely paid just a few hundred thousand for the home a long time ago, enjoyed it for many many years, raised their kids in it, and now have over $1.1m to buy a downsized home to live out their retirement. The agents won because they got 5% or more on the deal. There were no losers on this transaction.
Lastly, to take a square footage price and use that as a benchmark for other purchases is not logical (at least not on a single property). Hence the term is ‘comps’, not ‘comp’
