The median price for SFRs in MB hasn't been at $1m since the second half of 2002. (See "How're Median Prices Doing?")
Indeed, there have been very few offerings at or below $1m for a few years running. This year, supply below $1m is not yet a flood – west of Sepulveda, anyway – but there are more now than last year…
The median price for SFRs in MB hasn't been at
$1m since the second half of 2002. (See "
How're Median Prices Doing?")
Indeed, there have been very few
offerings at or below $1m for a few years running. This year, supply below $1m is not yet a flood – west of Sepulveda, anyway – but there are more now than last year at this time, when we had just 2.
The
6 actives today
(click any highlighted address for more pics & details via Redfin):- 2500 Oak (3br/2ba, 1350 sq. ft.) (pictured) is a dated cottage at the busy intersection of Marine/Sepulveda (see "A New Low"). It began at $824,900, and is now at $789k.
- 772 Rosecrans (2br/1ba, 884 sq. ft.) is a dated (proudly "original") little home that has been a rental for quite a while. Homes along this particular part of Rosecrans do not back up to the alley, unfortunately, but the lot is a bit larger than your average Tree Section offering at 5350 sq. ft. Started recently at $798k.
- 1102 Ardmore (2br/1ba, 1150 sq. ft.) (pictured), technically the Hill Section, just across from the Vons and near MBB, just hit the market at $849,900. It's a bank-owned property – apparently a HELOC from late 2006 gone bad.
- 1733 Elm (3br/2ba, 1325 sq. ft.) boasts a green construction fence and gutted baths and kitchen – a demo/rebuild stopped midstream. Now selling short at $850k, after a purchase at $1.050m in Oct. 2004. Said to have offers in hand already.
- 2602 Pacific (3br/2ba, 1500 sq. ft.) is dated, uninspiring, and obviously overpriced at $995k with no bites after 4 months. (Don't believe the reset DOM; it began Aug. 1.) How uninspiring? The listing agent didn't write a single word for the description.
- 422 21st Place (3br/3ba, 1825 sq. ft. and now a non-conforming duplex) began before Thanksgiving at $1.1m, but is now down to $999k.
Add to those 6 another lower-end offering,
3529 Walnut (2br/1ba, 900 sq. ft.), which hit the market in early November at
$789k but almost immediately went "on hold." Owner appears to intend to sell, but has some issues.
So that's
3 under $800k,
2 at $850k and
2 more under $1m. Seems like the beginning of something new.
Last year in mid-December, the only 2 active SFR listings under $1m west of Sepulveda were
462 36th Place, the
Turkey, and
3612 Poinsettia (2br/1ba, 850 sq. ft.) then-fresh at $957k, and eventually sold at
$849k in July of this year.
Dare to cross Sepulveda, and you'll find
14 more listings under $1m today, including one at
$549k. That's too much for this story, but we'll open up another EMB Bucket soon with that list.
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 9:48pm 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.