There are currently 24 blog entries related to this category.
Thursday, February 21st, 2013 at 11:33am. 332 Views, 0 Comments.
If you launch your listing in the first part of the year, how long will it take to sell?
And how does our hot-hot-hot 2013 season compare against recent years?
We're taking a stab at answering those questions with a look at historical data on average DOM for listings that launch early in the season. Consider this a preliminary report.
We took a look at data on Manhattan Beach listings that launched between Jan. 1-Feb. 28 in each of the past 5 years, including 2013.
We focused only on those that actually sold. To narrow the data more, we looked only at SFRs west of Sepulveda.
You quickly see a pattern that is expected, in a way – listings launching in the very difficult early days of 2009 had the hardest road to selling, averaging 102 DOM…
Tuesday, April 17th, 2012 at 7:18pm. 172 Views, 0 Comments.
This year, we saw a deal post at one of the homes with the greatest market exposure in Manhattan Beach over the past 5 years. That's 337 16th (4br/5ba, 4550 sq. ft.), which has exceeded 1,000 DOM since 2007. That's some kind of record for persistence.
We summarized the listing history in our last reference to the property:
- 5 months in 2007 (mostly at $4m);
- 6 months in 2008 (mostly at $3.8m);
- 2 months in 2010 (at $3m); and
- all of 2011 and 2012 (at $3m, down to $2.699m).
Now the deal has closed at the most recent asking price: $2.699m. (Side note:…
Wednesday, March 28th, 2012 at 4:15am. 175 Views, 0 Comments.
Among those to linger – just a bit – there's quite a range. Let's look at them by submarket; focusing on truly new 2012 listings. (We'll cover west of Sepulveda here first, but East MB will get its due.)
Tree Section: Rosecrans-Adjacent Division
3601 Elm (5br/3ba, 2400 sq. ft.) is one of the better homes on offer in the Trees now, a very sharp remodel. Yes those are 5br, and the gardens are a big plus, if you dig that sort of thing.…
Thursday, October 28th, 2010 at 6:04pm. 166 Views, 0 Comments.
Yesterday we looked at a few listings that were at least trying to draw notice with a cut or two (of the non-bloody variety). Here we ask who's lingered the longest, whatever cuts they've made. Will this be the year for any of them?
Nearly 500 DOM
We had almost forgotten that 913 Highview was still on the market. Maybe buyers have, too.
MBC's last major reference to the property was in early December 2009, noting that it "looks like it'll hang around for the holidays, and sometimes that means the sellers mean to make a deal at some point."
"At some point" – we weren't thinking Christmas 2010 at the time.
The home is elegant, newer (2004 build) but relatively compact…
Thursday, April 8th, 2010 at 4:10am. 129 Views, 0 Comments.
Two new(er) homes by the same builder have made deals almost simultaneously, leaving only one Tree Section listing above $3m – 645 12th ($3.395m), and that one purports to be a Sand Section home. (Not to beat a dead horse, but see "When Maps Collide" for more.)
The new deals:
- 529 18th (5br/5ba, 5600 sq. ft.) was the DOM champ – meaning the "Long[est] in the Tooth" for all of MB WOS – as of late February, at 531 DOM. Upon finding a buyer, it was up to 574 DOM.
Wednesday, February 24th, 2010 at 5:04am. 138 Views, 0 Comments.
That contrast was on full display when 645 12th (pictured) made a price cut early this week amid the minor rush of fast sales. The "new" home near Martyrs is now down to $3.445m, down $1.054m from its start in September 2008, a full 515 DOM ago.
(We're saying "new" in quotes because, while the home is new construction, 515 days was a long time ago – here's a link to our Sept. 2008 open-house feature mentioning the first open. Note that the listing gives 2009 as the build date because that's when the occupancy permit was issued.)
So what else is lingering long-term, getting a little long in the tooth? Let's look by…
Monday, December 28th, 2009 at 5:15am. 157 Views, 0 Comments.
2812 Elm has just closed for $1.325m, but it's what happened between 2004 and 2009 that makes for a revealing and cautionary tale about the local housing bubble.
Elm was remodeled completely in 1999 and held until February 2004, when it sold for $1.299m. That was a healthy sum then for an attractive, average-sized home (4br/4ba, 2500 sq. ft.) with a couple of layout issues – an oddly split second level and a downstairs bedroom off the kitchen.
Not so many months later (16 months, to be exact), the new owners were out. As the local bubble inflated rapidly, they saw a nice profit as they turned over the keys. They sold for $1.584m in June 2005, a 22%…
Friday, November 6th, 2009 at 5:21am. 212 Views, 0 Comments.
That's one finding from a new analysis of DOM data drawn from MBC's tracking spreadsheets.
We looked at SFR closings from the 6 months spanning the Spring and Summer selling seasons in 2008-2009, basically May-October each year with a little late-April action included.
DOM reported here come from MBC's "True DOM" figure for each property, counting forward from the date a property hit the market till we noted that an escrow had posted. DOM-resetting re-lists would have no effect here.
Looking first at 2009 (click chart to enlarge), the Hill Section's closed-sale DOM figure is a semi-astronomical 174 for 2 reasons. First, of course, sales volume is always pretty low…
Friday, October 2nd, 2009 at 5:55am. 120 Views, 0 Comments.
Now, like a bolt of lightning out of a clear blue sky, they've finally taken an offer at 317 5th (4br/5ba, 4150 sq. ft.), a mid-90s contemporary on a corner lot on a South End walkstreet. (Listing may still be viewed while in "backup offer" status.)
A deal here doesn't just clear out a slightly old listing – it knocks out the reigning DOM Champ for the Sand Section, possessor of an unmatched 538 DOM until now. (Listing began 4/10/08 and pulled a bogus re-list or 2 afterward, so ignore the DOM you see in the listing now.)
Back in early June this year, 317 5th was just the runner-up for DOM in the Sand, lagging behind the new contemporary at 425 26th, but that one closed in August. (See "A Selection of Sand…
Thursday, July 23rd, 2009 at 2:52pm. 141 Views, 0 Comments.
2812 Elm (4br/4ba, 2500 sq. ft.) probably deserves separate treatment anyway. (Click for pics & details via Redfin.)
Not so long ago, a long-running listing of this property set the high-water mark for DOM at 773 DOM (yes, seven hundred and seventy-three), by our count, having been continuously on the market from Sept. 2006-Oct. 2008. (Nearly 350 DOM ticked off without a bogus re-list, but one was filed in Sept. 2007, to our chagrin – see "Couldn't Hold Out Forever.")
A listing will only hang around that long if the home is dreary and/or priced wrong. For 2812 Elm, it was mainly a pricing problem for this…