No need to be shocked here, for once. At least we don't think so.
The basic family home people are looking for west of Sepulveda, in a decent part of the Tree Section, with 4+ bedrooms and 3000-ish square feet, looks like a $1.9M proposition.
That's higher than it was in some recent years, but a selection of…
No need to be shocked here, for once. At least we don't think so.
The basic family home people are looking for west of Sepulveda, in a decent part of the Tree Section, with 4+ bedrooms and 3000-ish square feet, looks like a $1.9M proposition.
That's higher than it was in some recent years, but a selection of recent sales firms up the price range:
2009 Elm (4br/3ba, 3100 sq. ft.) is the latest to close. It's a Mediterranean with an easy layout, clean and recently refreshed, and hard to place as the 1998 build that it is. Could be 90s, could be mid-2000s; many of these homes seem alike.
As you almost always find, in this home you enter into a formal living room, and continue back to a large kitchen/great room in back. First floor also has formal dining and a fairly large spare bedroom, with 3br upstairs – all pretty sizable.
This one came out at $1.899M in March and sold for $1.880M this week.
Worth noting: The sellers contacted Dave several months ago for a valuation and advice. Back then, Dave's view was that it would likely sell for $1.8M. As the market warmed up this Spring, he told them $1.9M was possible. And they did just about hit that.
1409 Pine (5br/4ba, 3200 sq. ft.) is extremely similar to 2009 Elm, but sports a 2001 build date. The layout is almost identical.
Its major points of distinction: An extra (5th) bedroom and location somewhat closer to school and town.
This one listed for less than 2009 Elm, but sold for more.
1409 Pine came out at $1.840M but got bid up to $1.910M. Is that a $30K premium for location and extra bedroom?
We're also looking to include 1301 Pine (5br/4ba, 3150 sq. ft.) on the list.
Though it's not a Mediterranean, it's a 2000 build with the same basic layout as the others, and in the same general area east of Pacific and south of Valley.
This one listed at $1.949M and had a pretty quick deal. We'd anticipate a sale close to that number. It's been in escrow about a month, so watch for it to close fairly soon.
Some questions before it does: Is the Cape Cod styling worth a premium? Or might buyers have shaved a little off for location nearer MBB and/or the flooring?
So $1.9M looks to be the going rate in this neighborhood.
Prices go up as you get into more luxe places and/or better locations, of course. But you can call this a baseline around which to bracket other kinds of homes and begin making your adjustments.
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For a complete list of sales in the Tree Section over the past 6 months, use this link, which is also found under "MB Sales Data" in the top navigation bar. You can quickly find sales data for any part of MB using that pull-down menu.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.