Tuesday, July 7, 2009

1H SM and PP sales update

To wrap up the first half of 2009, here are sales closed in Santa Monica and Pacific Palisades since our May 6 update. Listing dates before 2009 and reductions over 10% are in red.

Santa Monica Distress Monitor has been doing a great job featuring individual listings. I've tried to link those, plus a couple featured here.

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

Sunset Park 90405 (south of Pico, east of Lincoln)

1128 Marine, 2/1, $659K (-9%), 3/7/09, 5/21/09, $675K (+2%)
1736 Oak, 3/2, $990K (-7%), 7/31/08, 6/12/09, $885K (-11%)

2103 Hill, 3/2, $1,050K (-4%), 3/18/09, 7/1/09, $1,000K (-5%)
2450 Euclid, 4/3, $1,048K (-24%), 9/26/08, 5/12/09, $1,068K (+2%)
2328 30th, 3/2.75, $1,099K, 5/11/09, 6/26/09, $1,087K (-1%)
2424 31st, 3/2, $1,099K (-10%), 11/24/08, 6/23/09, $1,050K (-4%)
1421 Grant, 4/2.75, $1,299K, 3/11/09, 5/15/09, $1,225K (-6%)
2659 33rd, 3/3, $1,395K (-10%), 2/27/09, 6/30/09, $1,350K (-3%)
2625 29th, 4/3, $1,595K, 4/20/09, 6/9/09, $1,500K (-6%)
1214 Pearl, 4/4.5, $1,785K (-16%), 10/8/08, 7/1/09, $1,700K (-5%)
1651 Ashland, 3/3, $2,150K, 3/5/09, 6/29/09, $1,875K (-13%)

Ocean Park 90405 (south of Pico, west of Lincoln)

629 Pico Place, 2/3, $1,250K (-47%), 7/25/08, 5/19/09, $1,250K

Santa Monica 90404 (Pico-Wilshire)

2209 Arizona, 2/1, $650K, 2/27/09, 6/19/09, $660K (+2%)

Santa Monica 90403 (Wilshire-Montana)

1701 California, 3/2, $1,085K, 3/22/09, 5/15/09, $1,085K
1024 Princeton, 2/1.5, $1,385K (-13%), 6/27/08, 7/2/09, $1,250K (-10%)
1126 Harvard, 3/1.75, $1,495K (-9%), 1/26/09, 6/3/09, $1,410K (-6%)
1038 Franklin, 5/3.5, $2,139K (-26%), 5/29/08, 6/9/09, $2,000K (-6%)

858 25th, 4/3, $2,250K, 4/17/09, 5/28/09, $2,150K (-4%)
1024 23rd, 4/4.5, $2,595K (-10%), 10/8/08, 5/22/09, $2,425K (-7%)

Santa Monica 90402 (north of Montana)

720 17th, 1/1, $1,399K (-22%), 3/5/09, 6/26/09, $1,400K
320 9th (photo), 3/2, $1,699K (-19%), 11/12/08, 5/20/09, $1,600K (-6%)
415 17th, 3/3, $1,799K (-20%), 12/4/08, 6/15/09, $1,600K (-11%)
716 18th, 3/2, $1,875K, 3/4/09, 5/29/09, $1,780K (-5%)

403 22nd, 3/2.5, $2,100K (-12%), 2/3/09, 5/15/09, $2,050K (-2%)
449 Euclid, 3/2.5, $2,295K, 3/13/09, 6/9/09, $2,000K (-13%)
423 9th, 3/2.5, $2,599K, 3/11/09, 6/5/09, $2,560K (-2%)

734 22nd, 5/4.5, $3,678K (-14%), 3/21/08, 5/28/09, $3,400K (-8%)
327 Alta, 5/3.5, $3,995K, 12/1/08, 5/13/09, $3,600K (-10%)
402 20th, 5/5.5, $4,288K (-22%), 10/30/08, 5/20/09, $4,000K (-7%)

Pacific Palisades 90272 <$2M

16751 W Sunset, 3/2, $850K (-29%), 8/3/08, 5/28/09, $650K (-24%)
16723 W Sunset, 4/3, $900K (-10%), 10/28/08, 5/14/09, $814K (-10%)

1423 Avenida de Cortez, 4/2.5, $1,295K (-9%), 3/11/09, 6/18/09, $1,216K (-6%)
16463 Akron, 3/2, $1,299K (-59%), 7/11/07, 6/15/09, $1,203K (-7%)
16910 Marquez, 4/2.5, $1,399K (-20%), 10/15/08, 5/6/09, $1,200K (-14%)
1061 Tellem, 4/3, $1,600K (-8%), 4/29/09, 7/2/09, $1,370K (-14%)

16632 Calle Haleigh, 4/4.5, $1,675K, 2/24/09, 5/15/09, $1,600K (-4%)
512 Beirut, 4/3.5, $1,695K, 1/20/09, 6/25/09, $1,645K (-3%)
544 Paseo Miramar, 3/2.5, $1,695K (-13%), 3/3/08, 5/13/09, $1,460K (-14%)
542 Chapala, 2/1.5, $1,895K, 4/2/09, 6/16/09, $1,860K (-2%)
16672 Calle Arbolada, 5/4, $1,910K, 3/5/09, 5/15/09, $1,900K (-1%)
16006 Temecula, 4/3, $1,995K (-9%), 10/18/08, 6/23/09, $1,700K (-15%)
1043 Fiske, 4/3, $1,995K (-19%), 10/13/08, 5/21/09, $1,865K (-7%)

12 comments:

Anonymous said...

Why haven't you listed sales in Pacific Palisades over $2 million? There have been several.

Westside Bubble said...

Because I've only been tracking individual listings below $2M in Pacific Palisades, vs. all listings in Santa Monica.

QTR said...

definite downward trend, but not exactly capitulation...

Anonymous said...

90405 is down, what? Like 7% overall?

Still waiting for the doom and gloom to become reality

Anonymous said...

A 2000 SF house in 90405 would've sold for $1.4MM easy a couple years ago.

Anonymous said...

Land north of montana now ASKING 1.4 and willing to settle for less

724 11th ASKING price 1.399 million just hit mls

WarChestSM said...

11th is busy -- major discount applies.

Don't paint in such broad strokes.

Anonymous said...

Right -

BUSY NON FRANKLIN streets North of Montana land = 1.4

NON BUSY 15th and 16th street land is more like 1.6

15th and 16th have the benefit of NOT being busy and also being in franklin . that is the reason those are worth 1.6 and 11th is only 1.4

Anonymous said...

The LA Times has a scary article about entertainment jobs in LA...

http://tinyurl.com/mpa32j

Here are some highlights...


"I've been doing this for 25 years and I've never seen such a sustained down time," said Lance Sorenson, president of 24/7 Studio Equipment, who recently had to lay off two of his drivers and has imposed 3- and 4-day work weeks for the rest of his 44 employees.

****

At Modern Props, also in the Culver City area, nearly half the employees have been laid off, and those remaining are on 20- to 40-hour work weeks.

****

Many are struggling amid a sharp drop in local film and TV production triggered by the recession; the outflow of production to other areas, known as runaway production; and the fallout from a writer's strike and a yearlong contract dispute between studios and the Screen Actors Guild. According to the state Employment Development Department, jobs in movie and television production were down 13,800 in May compared with a year earlier.

****

A recent survey from FilmL.A. Inc. found that 44 of 103 TV pilots this year were shot in such disparate locations as Canada, Illinois, Georgia, New York, Louisiana and New Mexico.

****

"L.A. is at risk of losing a good part of one of its signature industries, just like it did with the aerospace industry in the early 1990s," said Jack Kyser, chief economist for Los Angeles County Economic Development Corp.

****

One of his customers, the HBO series "Hung," filmed three months in L.A. and two months in Michigan, which offers a 42% tax credit. Another customer, the TNT series "Leverage," has opted to film its second season in Portland, Ore., which offers a 20% cash rebate on qualified production expenses.

adrin said...

Nice working on the article. Thanks for showing the data.

Boise real estate

Andrew said...
This comment has been removed by a blog administrator.
Anonymous said...

update on the Akron house:
the sign is down and the entire garage floor has been jack-hammered out. something major is wrong. maybe a slab leak.
that house is a case study in how not to flip.