It's Still the Higher End SellingPosted on Wednesday, June 2nd, 2010 at 4:03am.
Buyers Raid Trees" a couple of weeks back, it's still the higher-end listings in each west-of-Sepulveda submarket that are going like hotcakes.
Of the 9 sales (new escrows) we have logged so far – leave room for updates – we see:
- 2 of 2 in the Hill Section were priced above $2m;
- 3 of 3 in the Sand Section (SFRs only) were priced over $2m, actually all nearer to $3m; and
- 3 of 4 in the Tree Section were priced over $1.5m, with the top-end listing priced at $2.895m.
But in the Sand and Trees, there are nearly a dozen options in each region in the "lower" end, meaning <$2m in the Sand and <$1.5m in the Trees. By and large this is inventory that's getting stale for one reason or another.
More detail on local market activity shortly in our next market update.
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