Things are looking better in the Hill Section as the holidays approach – and it's not just all the early Christmas lights – as we'll see in the first of our November market updates.
The new MB Market Update spreadsheets are online for your viewing by clicking here, or at any time by using the pull-down menu at…
Things are looking better in the Hill Section as the holidays approach – and it's not just all the early Christmas lights – as we'll see in the first of our November market updates.
The new MB Market Update spreadsheets are
online for your viewing by clicking here, or at any time by using the pull-down menu at the top of the page under "MB Market Updates." The current update, dated 11/15/09, covers the first 2 weeks of this month.
Remember, with the new online format, properties actively for sale can be viewed instantly (via Redfin) by clicking the property address in the spreadsheet. Also, you can easily click between the different pages (by region and by active or sold) using the
blue tabs at the top of the page.
November so far has seen more sales than new listings:
8 new entries and
10 sales (new escrows).
Yes, that's different than the norm, but, of course, fewer new listings are coming out now. The sales pace remains decent.
There was also one comebacker:
590 36th is back at a lower price after several weeks in escrow, now flopped. (Stats for the month to date are
on the tracking page.)
With
4 cancellations, we're now looking at a total of
82 active SFRs west of Sepulveda as Thanksgiving approaches. Inventory by sub-region west of Hwy. 1:
Hills: 15
Sand: 33
Trees: 34
Look at that Hill Section number a moment. With just 15 active listings, the sub-region is finally approaching "normal," after months with inventory in the 30s this year. (Click here for the
Hill Section actives page.)
Part of that is due to recent sales (new escrows). There has literally been a run on 5,000 sq. ft. houses recently
(click any highlighted address for pics & details via Redfin, yes, while they're in escrow!):- 877 8th (6br/6ba, 5000 sq. ft.) a short-term hold of a newer Cape Cod (2007 build) purchased new for $3.650m in Sept. 2007. This one hit the market this year at $3.599m and was last at $3.299m;
- 903 10th (6br/7ba, 5125 sq. ft.), new construction as of 2007, began at $3.195m this year and was last at $2.850m; and
- 407 Larsson (6br/6ba, 4850 sq. ft.), a resale that's going to cost the owners some money, was purchased for $2.980m in Nov. 2005. This home had a deal within a couple of days of switching agents and making a big price cut to $2.269m early last week. (See "More Trouble on Larsson.")
It was also during the first half of November that 2 big sales in the Hills closed. We've already discussed those in regular posts at MBC, but the homes are so great they're each worth another mention:
- 218 Anderson (pictured) a huge (8br/9ba, 8500 sq. ft.) home on an ocean-view double lot, which cut from $9.988m to $6.525m (-$3.463m/-35%) (see "Ground Down to $6.5m"); and
- 400 N. Poinsettia (5br/6ba, 4550 sq. ft.), a great Cape Cod at the crest of Poinsettia that fared much better than the slightly larger homes referenced above as new sales are ever going to do, closing at $3.855m (see "Three Sales, Several Trends"). That was, however, down a bit from $4.1m in Aug. 2006.
Full details on pending and sold homes are on the
Hill Section solds page.
There are a couple other good headlines from other sub-regions, which we'll cover in an upcoming post.
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 May 16th, 2024 at 9:30am 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.