Super Flood?Posted on Friday, February 5th, 2010 at 4:39am.
In the first 4 days of February, there have been 10 new SFR listings (just as of this writing), bringing inventory quickly over 80. (If you regularly track activity with Redfin's MB page, you've seen this daily burst yourself.)
- 3 new listings in the Hill Section;
- 3 in the Sand; and
- 4 in the Trees.
It's also news that only one of this week's new listings could be said to be returning from a holiday-season break (1018 2nd, which has been off since early October and has switched agents). Pausing on the sidelines right now are some number of recent listings poised to come back soon, and another group of would-be sellers who have been advised to wait till just a bit later this month.
A few samples of the new offerings:
- 505 N. Dianthus (5br/4ba, 4650 sq. ft.) (pictured), a glorious, newer (2002) home with city views to the north. It's also vacant and offered for $2.999m, or +$874k/+41% over its April 2003 acquisition price.
- 3104 Poinsettia, a major fixer/teardown adjacent to one of the very sweetest blocks in the Trees north of Valley. (See "The Street Where Listings Don't Last," which focuses on the section of 31st from Valley to 31st.) It's offered at $1.050m, which they would have called cheap a few years ago. Just a few doors down, 3009 Poinsettia went as a lot sale for $1.190m in Aug. 2008.
- 2708 Pacific (5br/4ba, 3400 sq. ft.), an early-90s home that has aged well thanks to updates, asking $1.849m.
- 3104 Maple (5br/4ba, 3350 sq. ft.), a newer (2006) build bought just 2 1/2 years ago in June 2007 at $2.490m, now offered back to the public at $2.349m. (No pics in the listing as of this writing.)
- 8 in the Hills;
- 3 in the Sand; and
- 13 in the Trees.
No doubt, we ended 2009 with a tentative balance taking shape. Inventory began the year very high, but got worked off over the months.
Here in 2010, we've seen some impact of what they call "pent-up demand" from some quick sales early in the year. But that sense of balance could be upset if this pace continues after the Saints go marching in.
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