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PriceChopper: Lots of Little Chops in Nichols Canyon

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The sellers of this four bedroom, three and a half bathroom house in Nichols Canyon seem to be working a finely-calibrated psychological experiment. A reader tipped us off to this 2,714 square foot house with canyon views, ten foot ceilings and 1,500 square feet of deck. It last sold in 1996 for $325,000 and went on the market again in January at $1,199,999 or about $442 per square foot. Here's where it's gone since:

February 1 - $1,199,988
February 7 - $1,199,888
March 1 - $1,199,868
March 28 - $1,199,848
April 18 - $1,199,448
April 25 - $1,199,399
June 1 - $1,199,388
June 18 - $1,199,288
July 10 - $1,199,188
July 16 - $1,199,000

And its latest chop on July 22 brought the price down two dollars to $1,198,998 or about $442 per square foot. The agent for the house tells us the reductions are real. The search for the sweet spot remains ever-elusive.
· 7865 WILLOW GLEN Rd LOS ANGELES, CA 90046 [Redfin]