As prices have risen in the Tree Section, along with everywhere else, new construction of typically sized homes (3000-3500 sqft.) have trended into the mid-$3M range up to a crest over $4M.
The latest sales (and new escrows) have been closer to $3.0M.
Let's recap both the past sales and the newest deals.
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As prices have risen in the Tree Section, along with everywhere else, new construction of typically sized homes (3000-3500 sqft.) have trended into the mid-$3M range up to a crest over $4M.
The latest sales (and new escrows) have been closer to $3.0M.
Let's recap both the past sales and the newest deals.
(Apologies in advance for the formatting of this post; we had some issues.)
2018-19 Sales of Tree Section New Construction
Let's look at the track record from just last year.
Typically sized new homes in the Trees sold for a broad range of prices last year, from $3.125M up to $4.125M.
(We are limiting the list here to homes maxing at about 3600 sqft. Much larger homes are possible with basements and, naturally, get higher prices. We are also not listing huge outlier 3208 Pacific, which just closed for $2.400M.)
Here they are in price order:
1501 Elm (4br/5ba, 3160 sqft.)
$3.125M in May 2018
1820 Pine (5br/6ba, 3135 sqft.)
$3.375M in June 2018
2101 Elm (5br/5ba, 3100 sqft.)
$3.375M in Aug. 2018
2612 Pine (5br/4ba, 3600 sqft.)
$3.390M in April 2018
1604 Pine (5br/5ba, 3600 sqft.)
$3.475M in March 2018
856 14th (5br/6ba, 3500 sqft.)
$3.707M in Nov. 2018
705 27th (5br/5ba, 3360 sqft.)
$3.825M in May 2018
2009 Pine (5br/5ba, 3600 sqft.)
$4.000M in March 2019
1904 Palm (5br/5ba, 3600 sqft.)
$4.100M in Aug. 2018
665 19th (5br/7ba, 3600 sqft.)
$4.125M in Nov. 2018
To recap, that's:
- 1 near $3.1M
- 3 in the $3.3M range
- 1 near $3.5M
- 2 in the $3.7M-$3.8M range
- 3 at or just over $4.0M
But now...
Current Pending Escrows on Tree Section New Construction
Let's look in price order again, ascending.
Here are the new homes in escrow in the Trees:
3604 Walnut (5br/5ba, 3250 sqft.)
Began at $3.250M in Sept. 2018
Re-listed at $2.895M in February
3401 Maple (5br/4ba, 3250 sqft.)
Began at $3.400M in July 2018
Cut recently to $2.995M and is in escrow
3000 Pacific (5br/4ba, 3600 sqft.)
Not complete yet, but in escrow
List: $3.000M
3513 Elm (5br/5ba, 3250 sqft.)
Began late Feb. 2019 at $3.095M
So what do we have here?
Four deals in escrow with list prices $2.895M-$3.095M.
The big, obvious difference? Location for each and every one of them.
Still, it's surprising to see and important to know... there's demand for new near $3.0 with a discount for location.
There's still one out there with the same basic parameters: 1813 Oak (5br/5ba, 3130 sqft.) asking $2.995M.
If you're holding out for new, the next steps up are $3.7M (717 35th) and $4.8M (577 31st).
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.