Saturday, September 13, 2008

Weekly inventory update

9/12 - Santa Monica <$3M is down 3%; Pacific Palisades <$2M jumped up 21%; Mar Vista dropped 8%.

North-of-Wilshire indicator 1030 Chelsea went into escrow, but it took nearly 6 weeks. Its $1,399K price was below recent comps last year at 1020 Chelsea, sold 8/24/07 for $1,478K, and 1024 23rd, sold 8/8/07 for $1,445K. With the wait to sell probably went below asking.

Added: North of Wilshire sales history, 2004-6.

Another interesting new north of Montana listing is the 5 bed/5 bath house at 751 24th Street, asking a low $2,350K.

9/5 - New and returned listings over $2M raised Santa Monica inventory. Pacific Palisades <$2M is down 1, but up 2 in total. Mar Vista is flat.

New sales established lower Sunset Park prices: 2640 24th (2/2) closed for $875K. In escrow after more than a month at $995K is 1645 Ashland (2/1). And 1215 Ashland (3/1) closed for $1,250K, 6% below last asking of $1,325K.

Last year's 1101 Cedar (photo) is back on the market at $1,375K. Last sold 12/16/05 for $1,169K, it was listed 4/11/07 for $1,580K, and left the market in 11/07 at $1,399K, no newer sale recorded.

Three new low-end 60-foot-lot Gillette houses were listed: 2/2 at 534 19th for $2,250K, 2/2 at 402 19th for $2,325K, and 3/1.75 at 416 21st Place for $2,375K. And the 2/3 60'-lot house at 210 21st reduced its price again, now to $2,259K.

      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 14 122 92 82 22 105
5/ 2/08 54,098 59 14 83 159 35 7 136 93 90 33 96
5/30/08 53,216 56 23 79 147 34 9 142 106 91 29 89
6/27/08 53,058 74 28 98 131 30 6 129 107 96 26 95
8/ 2/08 51,906 66 14 89 125 34 8 120 136 99 35 101
8/29/08 50,124 62 9 79 122 29 5 108 156 91 25 104
9/ 5/08 63 4 83 126 28 0 110 156 91 5 102
9/12/08 61 8 81 119 34 5 115 144 84 6 116
9/19/08

6 comments:

Anonymous said...

uh - fewer people are willing to sell their homes in 90402 for under 3 million ?

fewer houses available for under 3 million in the 90402

how are we to interpret this

Anonymous said...

Has anyone else seen 751 24th? It's a total dump that needs a major remodel or teardown and rebuild.

I don't care if it is 90402. It should sell for less than 90402 or 90403 because of the location. The traffic noise is 24/7, and the elementary school is directly across the street.

Good luck!

Anonymous said...

Can anyone explain how i can find out how much a specific home sold for this month

i am interested in the huge house in 90402 north of lincoln - the one that was listed for 5 mil plus than lowered to 4 something and then sold

i want to know if it sold for more like 4.0 or 4.4 thanks

WarChestSM said...

The sale has not gone through yet. It is still listed as "looking for backup".

I will have an update on my blog if/when it sells.

You can only find out when/if something clears escrow if you have full access to the MLS or if you know someone who has full access. It generally takes zillow and property shark a few weeks at a minimum to update their files once something sells.

Anonymous said...

751 24th is already looking for backup...

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