Warming Trend

Posted by Dave Fratello on Sunday, May 11th, 2008 at 5:00am.

A small flurry of sales in May so far should brighten moods a bit.

We know of 9 sales/deals/new escrows in the first 10 days of this month, plus 2 short sales that skipped the "pending" stage and closed this week. (That's going to be common for shorties). What we've got, with the last list price for each:
  • 437 1st ($1.650m) – a quickie remodel held about a year, purchased off market last April for $1.45m;
  • 625 26th ($1.999m) – ca. 1988, on a quiet street, somewhat flat price (sellers paid $1.795m in Aug. 2004);
  • 408 6th ($2.099m) – South End, mid-block walkstreet home with some challenges; we're hearing it's sold to a builder; a pick on "Mrs. MBC's Xmas List";
  • 2310 John ($2.099m) – surprising Tree Section contemporary; sellers paid $1.725m in Dec. 2003;
  • 516 24th ($2.349m) – a crisp, new beachy home, also on Mrs. MBC's Xmas List, that had to hang around a while to find a buyer;
  • 401 3rd ($2.685m) – a major rebuild in 2006, Mrs. MBC's pick last week;
  • 125 31st ($3.399m) – a contemporary on a walkstreet at Manhattan Ave.;
  • 2204 Palm ($3.450m) – once touted as a "Colossal Cape Cod," a new home on a corner with a simply gigantic basement; and
  • 869 3rd ($3.750m) – an ultramodern home in the Hill Section; sellers paid $2.44m in May 2004.
In addition to these, we've heard tell via comments that 452 32nd is in escrow. (It's Saturday night as we write, so we're running with that news before verifying.)

The short sales that posted as sold this week were 3412 Pacific (at list, $1.199m) and 1313 Oak ($1.780m).

In the snapshot we can offer now, SFR inventory west of Sepulveda is at 105, -2 from the month's start, with 9 new listings for the month but the 11 posted sales above coming off the boards.
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