Monday, September 8, 2008

Mar Vista indicator

Like we just did for Gillette Regent Square, let's look for price trends in a tract of similar (to each other) houses in Mar Vista, all originally built 1946-47 according to the Assessor. The "ladder" of six streets north of Palms, south of Rose, west of Colonial, and east of Stewart seems a good candidate: the 124xx-126xx block of Indianapolis, Brooklake, Everglade, Woodbine, Appleton, and Preston.

The $760K sale of 12424 Woodbine and long wait to sell 12618 Appleton does suggest the low end has fallen from 2007's $790K, similar to the easing in adjacent Sunset Park. Also, there are both significantly fewer listings and sales this year.

Current Listings

12501 Everglade, 2 bed/1.75 bath, LP=$899K (-3% from OLP), LD=8/7/08

Pending Sale

12618 Appleton, 3/2, $799K (-6%), 3/4/08, CD=8/1/08
12513 Appleton, 2/1, $799K, 6/11/08, 7/29/08

Sold 2008

12424 Woodbine, 3/1, LP=$799K (-4%), LD=10/18/07, SD=3/7/08, SP=$760K (-5% from LP)
12425 Brooklake, 4/2, $879K (-7%), 12/2/07, 4/17/08, $860K (-2%)
12619 Indianapolis, 4/3, $1,525K, 6/6/08, 7/24/08, $1,505K (-1%)

Sold 2007

12600 Woodbine, 3/1, $849K, 4/26/07, 6/12/07, $790K (-7%)
12624 Brooklake, 3/1, $765K, 1/07, 2/13/07, $800K (+5%)
12421 Preston, 2/1, $885K, 5/8/07, 6/15/07, $873K (-1%)
12566 Woodbine, 3/2, $999K, 11/3/06, 3/20/07, $935K (-6%)
12530 Appleton, 3/2, $1,050K, 1/07, 3/27/07, $1,030K (-2%)
12525 Everglade, 3/2, $995K, 7/25/07, 9/5/07, $1,065K (+7%)
12518 Everglade, 3/1.75, $1,199K (-4%), 5/17/07, 9/21/07, $1,195K
12519 Preston, 4/3.75, $1,550K, 6/25/07, 8/23/07, $1,400K (-10%)

Sold 2006

12600 Appleton, 2/1, na, na, 11/17/06, $699K

Acronyms: List Price; Original List Price; Listing Date; Contract Date (into escrow); Sale Date; Sale Price

5 comments:

Anonymous said...

who cares about MV?

Westside Bubble said...

It's more affordable but still Westside.

And being next-door to Sunset Park I'd expect overlap in their price changes.

Anonymous said...

Westside is right, anyone looking at West LA would also look at Mar Vista, Palms and Culver City if they want a SFR and don't want to go over $1 million.

Mar Vista has so far weathered the correction.

Anonymous said...

I agree - if you have one million or more to spend MV is a good choice

Anonymous said...

But if you have unlimited cash, La Mesa is the best place in all of LA