Sales Stats from 1st Half of 2008

Posted by Dave Fratello on Friday, August 1st, 2008 at 4:50am.

We're happy to offer a new data compilation of SFR sales west of Sepulveda for the first half of this year (Jan. 1-June 30, 2008).

Click here to download the new spreadsheets, or, at any time, use the link on the front page in the upper-right under "MB Market Info & Updates."

You'll find 3 separate sorts of data on 82 SFR sales:
  • By closing date
  • By price
  • By home condition (new, remod, etc.)
In our first-quarter data set, we covered 33 sales, so this period saw 49 sales added.

With a dataset of 82, we have a sizable, if not huge, database from which to calculate a median price. And the median among SFRs is really up there: $1.9m. (See pages 3 and 4 of the new spreadsheet. FWIW, the actual figure is $1,899,500 – the midpoint between two sales a bit above and below that median.)

Intriguingly, the median sale price among the 2007 sales that MBC tracked (131 sales spanning about 9 months of 2007) was $2.050m.

Medians are funny things, because they are somehow supposed to represent vast ranges of prices. In this 6-month dataset, our lowest price recorded was $772k (a 1br/1ba, updated home at 626 Rosecrans) and the highest price was $5.6m, for a new home near the water at 200 19th.

Please note that these new compilations delete interesting info you might like to see – start prices, cuts from start, DOM, etc. That information does appear in our regular (twice-monthly) MB Market Updates.
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