4/18 - Big 6-7% jump in Santa Monica! PP and MV were pretty flat.
4/11 - Pretty flat for the week, SM slightly up, PP flat, MV down a little.
4/4 - Santa Monica is down a little, Pacific Palisades is up a little (and setting record highs because of higher-priced listings), and Mar Vista is flat. (3/28 New listings adjusted for new listings through 3/31.)
LA County Santa Monica Pacific Palisades Mar Vista
<$3M New Tot DOM<$2M New Tot DOM Tot New DOM
-------- ------ -------------- -------------- ----------
1/30/06 27,732
2/28/06 29,420
3/31/06 31,819
5/ 1/06 34,032 38 33
6/ 2/06 37,847 56 36 38
6/30/06 42,317 66 40 49
8/ 4/06 45,315 70 34 50
9/ 1/06 46,781 71 27 59
10/ 6/06 47,369 83 25 98 71
11/ 3/06 45,780 80 20 91 77
12/ 1/06 43,103 65 18 72 96 39 20
1/ 5/07 35,646 54 4 60 117 33 6 71 66
-------- ------ -------------- -------------- ----------
2/ 2/07 36,715 38 15 45 124 29 16 61 71 70
3/ 2/07 41,251 42 14 51 114 26 10 68 79 55 25 76
4/ 6/07 42,857 41 23 49 107 18 8 73 103 54 52 50
5/ 4/07 45,918 46 28 54 92 19 6 82 79 71 37 52
6/ 1/07 52,198 50 25 61 78 17 15 87 78 77 39 53
6/30/07 52,769 42 18 56 81 17 11 92 77 74 33 61
8/ 3/07 54,166 53 28 68 86 23 12 78 76 84 39 68
8/31/07 57,432 57 21 72 98 18 7 69 75 90 40 79
9/28/07 58,973 59 17 74 103 26 9 90 81 87 20 87
11/ 2/07 58,731 62 19 81 120 29 7 106 77 98 35 88
11/30/07 59,108 52 14 67 136 23 11 88 94 96 23 96
12/31/07 53,475 42 5 53 148 19 2 73 119 79 13 116
-------- ------ -------------- -------------- ----------
2/ 1/08 53,722 54 16 67 157 26 16 101 118 89 36 96
2/29/08 53,520 50 10 68 178 29 8 108 108 88 21 103
3/28/08 53,566 57 17 81 171 32 13 122 92 82 22 105
4/ 4/08 54,290 55 1 78 164 34 0 124 101 82 5 101
4/11/08 54,468 56 6 79 162 34 2 125 104 79 13 102
4/18/08 60 10 84 161 33 4 126 96 79 20 98
4/25/08
4 comments:
it looks like teardowns north of montana are today selling for between 1.7 mil and 2.0 mil depending on the location
let's say that a person absolutely must live in new construction - is it cheaper to buy a teardown and hire a builder to put something up
or to buy a spec?
That depends if you have the patience to wait two years for the demolition, planning, and construction process.
Spec vs. custom:I think it depends on a lot of factors ;
a spec home may be the same price as starting from scratch, without the aggravation.
Nothing happens quickly in the SM bldg dept. A custom home with real architects and multiple bids for the GC's will take longer than 2 years to complete.
Style of home you are looking for: The spec builders try to appeal to the most # of buyers, so if you want Spanish, cape cod, you'll be in luck if you want to buy a spec home....not so much if you want Craftsman or Modern as they cost more to build and appeal to a smaller segment of the buying population.
High end custom home building costs start around $325 square foot and go up from there....I would imagine as high as $500 if you were doing it yourself.
these comments are very helpful
so buy a lot for 1.9 and then pay 400 bucks a square foot for 5000 square foot house so all in you are paying 3.9 million in hard costs and then throw in 400k for architect fees and other soft costs
so build it yourself and by the time you move in you are all in for 4.3 million (plus cost of money )
sounds right
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