Builders have been trying to redefine the high end in the Tree Section, seeking $3.0m-$3.5m or thereabouts for larger new homes. Some have gotten it, others haven't.
Since May, we've seen 4 new homes close over $3m in the Trees:
- 925 27th (5br/6ba, 4150 sq. ft.) – $3.0m (-$250k/-8%)
- 2802 Pine (5br/4ba, 4600 sq.…
Builders have been trying to redefine the high end in the Tree Section, seeking $3.0m-$3.5m or thereabouts for larger new homes. Some have gotten it, others haven't.
Since May, we've seen 4 new homes close over $3m in the Trees:
- 925 27th (5br/6ba, 4150 sq. ft.) – $3.0m (-$250k/-8%)
- 2802 Pine (5br/4ba, 4600 sq. ft.) – $3.1m (never listed on MLS)
- 927 27th (5br/6ba, 4400 sq. ft.) – $3.15m (-$135/-4%)
- 712 31st (5br/4ba, 3800 sq. ft.) – $3.325m (-$74k/-2%)
We're also hearing that a new one at
2603 Laurel is in escrow at $3.75m or so.
Nine more homes have been listed since March at $3m+, 6 of them new construction.
Now one of the ceiling-pushers has made a big cut.
At
570 27th, a new Schaar home across from Ladera School, the price began at
$3.899m on March 14. It has lingered most of the time since (175 DOM) at
$3.75m. Now, along with a bogus re-list, the new price is
$3.299m, or
$600k lower than the start.
Suddenly, instead of being the most expensive new construction on the market, 27th is cheaper than three new ones and aligned closely with another at $3.295m.
That may give this listing a chance. Another thing that would help would be some new photos. (
Click here to view them; and for more on the listing.) We have rarely seen such a poor set for such a pricey new listing. But then, the real issue is getting people to the front door, a completely different art.
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 21st, 2023 at 10:45pm 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.
