Love Math?

Posted by Dave Fratello on Monday, December 15th, 2008 at 6:44am.

If you drop by MBC from time to time, you are not just interested in real estate. You might have a nerdy math geek side, too.

Here we love data, and the crunching thereof.

So we'll call out a particular listing now in part because it goes all geeky.

Over at 590 36th (click for pics & details via Redfin), they've been trying to sell a quite large (5br/4ba, 4275 sq. ft.) remodel for almost 6 months.

MBC featured it the first weekend it was open (see "Weekend Opens (6/28-6/29)"). It remains, to this day, listed for the start price of $1.989m.

There's language now in the listing – we don't know when it got dropped in – that will answer a couple of questions you may have:
  • How many SFRs are there in all of MB?
  • How many of them have more than 4277 sq. ft. of living space?
The first question is more common. The answer: 9,235 SFRs in all of MB – according to the listing.

The second answer: 546 (13%) homes with that kind of square footage.

Natural question: Of all the homes in MB, how many are now for sale?

A Redfin search shows 196 SFRs for sale citywide – that's 2.12% of total inventory.

We'll observe that 590 36th has kept a stiff upper lip even while the market has shifted significantly. You can get a pretty big new home for less, and a sub-$500 PPSF is no longer unheard of.

This home is quite pleasant, and doesn't suffer as much as one might expect from its proximity to the refinery, once you're there. But location is clearly punishing the listing, as is its staleness.

A pleasant, spacious home in the Trees will find a buyer one day, if the sellers will take offers seriously. In the meantime, we welcome a data point or two that more of us can find useful.
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