Let's say you're just looking for a little home, a "starter" as they sometimes call it, but you'd like to be in the Tree Section.
Check out where the market's at now.
861 12th Court (3br/2ba, 1200 sqft.) is just about the most completely modernized little cottage we've seen in a while, totally dialed in.
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Let's say you're just looking for a little home, a "starter" as they sometimes call it, but you'd like to be in the Tree Section.
Check out where the market's at now.
861 12th Court (3br/2ba, 1200 sqft.) is just about the most completely modernized little cottage we've seen in a while, totally dialed in.
It's just a tad under 1200 sqft. inside.
The list price of $1.999M may have raised eyebrows, but more importantly, buyers raised their hands.
It's in escrow now. And it won't look as jarring when you see that the current owners paid $1.810M for a refreshed, but nowhere near as completely remodeled/modernized home about 30 months ago in Sept. 2015. (Click on this sold listing and compare/contrast the photos between them.)
When first listed, 861 12th Ct. was showing as $1,684/PSF.
Also this week, we saw two closed sales much further north in the Tree Section.
One was 3605 Laurel (3br/2ba, 1150 sqft.), which sold pre-market and has posted a sale price at $1.800M.
That's $1,563/PSF for a fairly recently remodeled cottage bearing a 1956 build date.
You can look back at the 2012 sale listing here and see the home in comparable condition. The price 6 years ago? $1.059M.
The rise in value over that time? Gulp. 70%.
Also at around the same time, a much smaller, original cottage at 3529 Pacific (2br/1ba, 950 sqft.) has just closed for $1.499M.
That's the last block before Rosecrans. Call it $1.5M for something like land value.
This phenomenon for pricing in the Trees really isn't new. The sales this week mainly confirm the trend.
We recently pointed to the sale of a slightly bigger fixer cottage at 721 35th ($1.925M) as a sort of reality check for potential buyers, and relevant info for sellers. (See "Up, Up, Up on 35th.")
For your edification and entertainment, here below is a complete list of all homes sold in the Tree Section with less than 1500 sqft. of interior space going back a year. Newest sales appear first. (Email subscribers will need to view this post in a browser to see all the listings.)
Tree Section Sales
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 30th, 2023 at 11:17am 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.
