Monday, May 18, 2009

Not selling in Sunset Park

It's not just north of Montana that has a record level of stagnant inventory pushing prices down. Sunset Park's inventory over 30 days on the market doubled from a year ago (east of Lincoln, south of Pico).

5/17/09 - 28
2/23/09 - 20
5/16/08 - 14
1/16/08 - 14
12/15/07 - 15
11/14/07 - 24
10/15/07 - 19
9/13/07 - 16
8/15/07 - 12
7/14/07 - 13

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

819 Pier, 2/1, $599K (-45%), 5/9/08
2329 32nd, 2/1, $819K, 11/7/08
2432 21st, 3/1.5, $825K, 3/28/09
1325 Grant, 3/2, $889K (-6%), 2/5/09
1514 Maple, 2/2, $895K (-10%), 1/8/09
2302 Hill, 2/1, $949K, 3/25/09
1037 Hill, 3/1, $949K, 4/17/09
1100 Ocean Park, 3/2, $950K, 2/23/09
2455 Cloverfield, 3/1.5, $1,000K (-9%), 11/19/08
1108 Ocean Park, 3/2, $1,000K, 2/23/09

1225 Grant (photo above), 3/2, $1,049K (-25%), 4/3/08
3023 Glenn, 3/3, $1,050K (-5%), 1/22/09
2103 Hill, 3/2, $1,050K (-4%), 3/18/09
1601 Marine, 3/2, $1,098K (-4%), 3/18/09
1731 Cedar, 3/1, $1,100 (-15%), 1/18/08
1027 Ashland, 4/1.75, $1,249 (-10%), 4/25/08
2209 Pearl, 3/2, $1,350K (-7%), 2/26/09
823 Cedar, 4/4, $1,395K, 3/29/09
1047 Grant, 3/2, $1,399K (-7%), 1/28/09
2208 Ashland, 2/2, $1,449K, 2/4/09
2659 33rd, 3/3, $1,449K (-6%), 2/27/09

1701 Oak, 4/3, $1,695K (-11%), 10/28/08
3004 Prospect, 5/3, $1,728K, 4/8/09
1214 Pearl, 4/4.5, $1,785K (-16%), 10/8/08
1611 Sunset, 3/3, $1,795K (-17%), 1/30/08
1208 Sunset, 4/4, $1,895K (+6%), 11/1/08
1701 Pier, 3/3, $1,988K (-9%), 3/6/09

2202 Marine (photo below), 4/3.5, $2,595K (-4%), 3/26/09

Here's what happened to the ones from 2/23/09 that are no longer available.

Withdrawn / Expired

2633 30th, 3/3, $895K (-30%), 1/4/09
1328 Hill, 3/2, $1,098 (-14%), 6/30/08
1731 Wellesley, 4/3, $1,400K (-7%), 9/11/08
2222 Marine, 4/4, $1,450K (-27%), 5/17/07
2904 Pearl, 4/4, $1,650K (-11%), 6/24/08

Looking for Backup / Pending / Sold

2219 14th, 2/3, $725K, 1/18/09
1213 Oak, 2/1.5, $795K (-11%), 9/17/08, 3/27/09, $800K (+1%)
1008 Bay, 2/1, $849K (-5%), 1/5/09, 3/26/09, $825K (-3%)
2424 31st, 3/2, $1,099K (-10%), 11/24/08
1643 Hill, 5/4, $1,350K (-27%), 8/5/08, 5/5/09, $1,150K (-15%)

6 comments:

tbgpalisades said...

On the prior thread, I am very concerned about some of the advice given to Robert - an admitted newcomer to California real estate.

Not one person has informed Robert of words that we do not use in polite company. These would include:

"sales history"
"days on market"
"comparable rents"
"Redfin"
"Westside Bubble"
"Case-Shiller index"
"intrinsic value"
"fraud"
"paying off the mortgage"
"equity"
"downpayment"
"option arm"
"pick a payment"
"foreclosure"
"under water"
"Santa Monica Distress Monitor"
"better prices next year"
"delusional seller"
"bagholder"

Come on, let's give the guy some help here.

Just call me Maria said...

Great list tbgpalisades- and howdy neighbor! You may have missed "jealous renter" and "greater fool"

Just so everyone knows- our friend Pete has a new blog

originallaland.blogspot.com

Westside Bubble said...

Thanks, Maria - it's great to have Pete back again! I'll add him to my blogroll. (And I enjoy your construction updates.)

Anonymous said...

I love Sunset PArk....its better then snobby, stepfordy NOMO

Anonymous said...

Boom Boom Pow

Evan said...

I live near that house on Grant shown above. The owners dropped their realtor a while back and now it's a FSBO. I'm sure that was what was keeping it from being sold.