Monday, April 20, 2009

Weekly inventory update

4/17/09 - Santa Monica and Palms-Mar Vista are slightly up, while Pacific Palisades is down by one.

Another low-end north-of-Montana is Pending: the 3 bed / 3 bath at 415 17th, asking $1,799K, a 20% reduction since its listing last December.

Added: Another sale is the 3 bed / 2.75 bath house at 517 14th for $1,775K on 4/16, last asking $1,898K (-21%).

4/10/09 - Santa Monica is up slightly for the week, Pacific Palisades pretty flat, and Palms-Mar Vista down a little. The most activity is in the latter's conforming-mortage listings.

Two low-end north of Montana houses may have found their price levels last week: the 2 bed / 1 bath at 720 17th, last asking $1,649K, and the 3/3 at 210 21st, last asking $1,840K, both entered escrow ("Looking for Backup").

      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
10/ 3/08 48,113 58 14 82 145 41 15 128 132 84 24 109
10/31/08 47,017 64 22 90 131 55 18 159 126 83 21 103
11/28/08 45,216 64 12 91 141 54 7 151 124 73 9 130
12/31/08 40,810 52 3 80 171 47 5 130 134 63 10 144
-------- ------ -------------- -------------- ----------
1/30/09 38,486 67 16 94 181 59 15 157 145 66 15 157
2/27/09 37,647 73 14 98 164 73 17 181 148 75 19 131
4/ 3/09 84 25 108 155 73 11 187 150 74 24 128
4/10/09 85 7 111 160 72 5 187 144 71 5 126
4/17/09 87 12 112 163 71 7 146 73 12 115
4/24/09

13 comments:

Anonymous said...

"Another low-end north-of-Montana is Pending: the 3 bed / 3 bath at 415 17th, asking $1,799K, a 20% reduction since its listing last December."

I took my kids to an open house for that place, now they need psychiatric counseling. Who should I sue?

Anonymous said...

that house was a disgusting smelly dump

wonder what it sold for

Dan said...

It's a teardown, we'll see what the land value is if it closes escrow.

I wouldn't pay $1.8. Or even $1.7. However, $1.6 starts to look interesting.

Anonymous said...

I heard 1.7 by an agent in the office where the listing is....

Anonymous said...

Well 17th is a busy street (stoplight at Montana)

I hope to god that this thing on 17th sells cheap because the non busy streets like 16th and 18th are consistently 100 thousand bucks more expensive than 17th

17th is by no means the skankiest (that would be 26th and 7th ) but it is pretty low

Westside Bubble said...

Another sale: the 3 bed / 2.75 bath house at 517 14th, for $1,775K on 4/16.

Anonymous said...

Is this a Montana blog or are we allowed to comment on neighborhoods other than the narrow strip north of Montana Avenue in Santa Monica?

Anonymous said...

There are two nice strips in Santa Monica - the strip from Montana to San Vicente and the narrower strip between San Vicente and the canyon

both are of interest here

But if you find other areas worth discussing bring them up - most areas are better priced and offer you more land per dollar than the two strips in SM

Anonymous said...

What about Sunset Park? Ocean Park? The beach? My relatives want to be close to the beach when they visit....close enuf to walk to it!

I think GRS is overrated and feels like stepfordville....If you live in SM, live by the beach!

MLS Slave said...

Don't bet on a closed price north of 1.7M. Not even close.

Westside Bubble said...

Is this a Montana blog or are we allowed to comment on neighborhoods other than the narrow strip north of Montana Avenue in Santa Monica?

Please do! I mostly focus on low-end north of Montana as a price index, not because I particularly like it.

Anonymous said...

The bottom is in in the Palisades. Several homes have entered escrow in the last 7-10 days on the low end. ($1.6-$1.9)in nice areas of the alphabet streets. Also sever multi million dollar spec homes ($8-$11) million are in escrow in the Huntington Palisades I'm sure with a decent haircut off the price but they sold after stiing for well over a year.

Anonymous said...

"The bottom is in in the Palisades"

LOL