Thursday, May 15, 2008

Not selling in Ocean Park

Let's see how Ocean Park (SM west of Lincoln, south of Pico) inventory over 30 days compares with last fall-winter.

5/15/08 - 11
1/16/08 - 15
12/15/07 - 16
11/14/07 - 15
10/15/07 - 10
9/15/07 - 10
8/19/07 - 11

So unlike north of Montana, it's at last fall's level, but with all but two over 90 days on the market (red below). Few new listings and very stuck old ones, two from 2006. Here's the detail:

718 Marine St, 1 bed/1 bath, CLP=$799K (-8%), OLD=5/25/07
727 Marine St, 2/1, $799K, 2/7/08
748 Navy St, 1/1, $899K (-10%), 3/5/08
213 Pacific St #2/3, 3/2, $1,529K (-1%), 8/1/07
2629 6th St (photo), 3/2, $1,750K (+3%), 10/3/06
2912 2nd St, 2/1, $1,900K (+31% for condo plans), 12/29/06
654 Ashland Ave, 3/2, $1,995K (-13%), 11/8/07
152 Hart Ave, 4/3, $2,200K, 2/8/08
150 Fraser Ave, 2/2, $2,295K (-8%), 10/4/07
2517 3rd St, 3/2, $2,498K, 4/10/08
2606 Highland, 2/2.75, $3,000K (-14%), 11/9/07


Price Stout said...

Great update. I live here and like it, but these prices are just still impossible for me to get my mind around.

654 Ashland? That place sold for $1M in 2003. In the 500 block of Ashland there's Section 8 housing, with all the joy that brings the neighborhood. I find Ashland between 4th and Lincoln to be, frankly, very dark and unnerving at night -- and I used to live in sketchy neighborhood in NY (difference is that in NY, there are people out on the street, and the streets are well-lit, whether they're safe or not).

718 Marine. I don't really think this place is "for sale" in the traditional sense. It's more like posting those "buy me out" things on Zillow.

Anyway, I'd say these sellers are smoking the neighborhood's favorite herb, but then look how quickly that craftsman in the 400 block of Pier sold for -- right next to a dumpy condo building so there's no privacy. It sold in less than month for almost $1.8MM IIRC. I hear that's inspired their immediate neighbors to sell in the next few weeks, too.

As always, I appreciate your hard work here.

Price Stout said...

Also, that long dormant construction at 7th and Ashland was restarted about a month ago and appears to be moving quickly to completion. It'll be interesting to see what happens there. I think the house actually looks gorgeous from the outside, but it's a bit "overbuilt" for the neighborhood (potentially).

Westside Bubble said...

Thanks for the good comments (as always), Price Stout!

It's conversation like this that makes blogging worthwhile.

Anonymous said...

That stretch of Ashland between 4th and Lincoln is not the best, but it's still a great street and 654 Ashland is an attractive home. I don't think you can realistically compare Ashland to a dark NYC street. That's a stretch. It's just a little dark. $2mm is crazy though.

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