As we wrap up work on MBC's market update spreadsheets for the second half of May, we're seeing a continuation of a pattern.
As we noted, for instance, in "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…
As we wrap up work on MBC's market update spreadsheets for the second half of May, we're seeing a continuation of a pattern.
As we noted, for instance, in "
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.
Now, in the Hills, pretty much everything is priced over $2m, so it's not a huge surprise that the sales are in that range. The livable exception is the REO at
801 11th (near MBB), a fairly big (4br/3ba, 3050 sq. ft.) newer home at
$1.6m.
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.
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 18th, 2024 at 11:45pm 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.