Within several days, eight Tree Section listings priced below $1.6m have sold.
Quite suddenly, this leaves just one teardown and one small cottage on Ardmore in the sub-$1.6m range.
The sales, in summary form (details to come shortly in the next Market Update), with their last list prices:
Within several days, eight Tree Section listings priced below $1.6m have sold.
Quite suddenly, this leaves just one teardown and one small cottage on Ardmore in the sub-$1.6m range.
The sales, in summary form (details to come shortly in the next Market Update), with their last list prices:
- 848 14th * $1.199m * 2 DOM
- 2811 Valley * $1.229m * 140+ DOM
- 3528 Poinsettia * $1.279m * 10 DOM
- 2804 Pacific * $1.399m * 10 DOM
- 3204 Poinsettia * $1.550m * 30 DOM
- 717 12th * $1.512m * 3 DOM
- 2305 Pine * $1.595m * 130 DOM
- 2418 Ardmore * $1.599m * 55 DOM
Of these, two were quite new – the teardown on 14th overlooks the playing fields east of Pacific School, and the 12th St. listing was a charmer near Martyrs. The two Poinsettia sales were recent remodels – 3204 slick, 3528 OK but lacking curb appeal.
The long-timer on Pine was priced high, and
an anonymous comment says the escrow is unconventional, so we'll see on that one.
The standouts as interesting barometers are
2804 Pacific, which you just knew would go quickly
because of realistic pricing, and
2418 Ardmore, because, for that price, you get almost 3500 sq. ft. – about 1,000 to 2,000 more than for other listings below $2m.
For a hundred reasons, these sales don't say anything definitive about the prices of the remaining active listings in the Trees.
But isn't the action suggestive?Eight separate Tree Section buyers passed on the pricier stuff.
Any of the next three listings up the ladder might have been with the lucky ones here, but for prices that seem to suggest they are a cut above the recent sales:
- 1140 Laurel ($1.599m) has a location challenge, an imperfect layout and quite little outdoor space;
- 1829 Poinsettia ($1.625m) is deliciously redone, but small (1450 sq. ft.) and with too little usable outdoor space; and
- 2622 Pacific ($1.649m) has its sweet bits, but that corner at Pacific and 27th ain't quiet, there's little curb appeal and there's no yard.
Buyers will tell you when the pros outweigh the cons by way of their pricing decisions. For now, they seem to be telling us that these three are all high.
Now, is it a benefit to be among the few listings left below $2m?
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.
Based on information from California Regional Multiple Listing Service, Inc. as of March 19th, 2024 at 1:55am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.