Monday, March 16, 2009

Growing low-end north-of-Montana

Our indicator cluster of low-end north-of-Montana houses asking around $1.8M is growing, with 5 on the market and 2 in escrow. Big change from last year when low-end houses sold fast and the floor was over $2M.

Address, bed/bath, current price (-% from orig.), orig.list date

320 9th (photo), 3/2, $1,795K (-14%), 11/12/08
209 25th, 3/2.5, $1,798K (-12%), 10/7/08
720 17th, 2/1, $1,799K, 3/5/09
210 21st, 3/3, $1,840K (-26%), 6/19/08

The next went Pending on 3/2/09 when the price was $1,899K, but was back on the market the next week and reduced its price:

415 17th, 3/3, $1,799K (-20%), 12/4/08

These two are currently in escrow. The first came to market well-priced and accepted an offer only nine days later. The second took ten months, and supposedly went for below $1.8M.

716 18th, 3/2, $1,875K, 3/4/09, Contract Date=3/13/09
517 14th, 3/2.75, $1,898K (-21%), 5/1/08, CD=3/11/09


Anonymous said...


Anonymous said...

17is busy

18 is not

lets see the 18 price

dwr said...

Has anything actually CLOSED escrow in the 90402?

Westside Bubble said...

Has anything actually CLOSED escrow in the 90402?

Not in 2009 in this price range. Coming soon is a list of everything that has closed so far in 2009.

Anonymous said...

The one 18th needs a ton of work. It wouldn't surprise me if it went for lot value.

Anonymous said...

yes it will sell for lot value

but what is lot value in GRS NOM 90402 right now? the raging bulls on this board say that 1.8 is the value and it will close for 1.8

the bears on this board say that lot value is 1.5 right now and it will close for 1.5 if it sells now

no one knows who is right - just have to watch and wait and see whether bulls or bears are right

Anonymous said...

I remember seeing a survey somewhere of what the selling predictions were for 517 Fourteenth. That home is move-in-able, and, about two weeks ago, I said $1.695K, but it will probably reap more. Once relisted, it took just a month to go looking for backup.