MBC readers generally agree that 2312 Pine (5br/5ba, 3150 sq. ft.) will sell for a markup of some kind over its July 2003 acquisition price of $1.559m. Well over half took that view in our newest poll.
So that's the good news.
The sweep of opinion here is that MB hasn't yet swept back into 2003 prices. (For the…
MBC readers generally agree that
2312 Pine (5br/5ba, 3150 sq. ft.) will sell for a markup of some kind over its July 2003 acquisition price of
$1.559m. Well over half took that view in our newest poll.
So that's the good news.
The sweep of opinion here is that MB hasn't yet swept back into 2003 prices. (For the original poll story, see "
Pricing Poll: 2312 Pine.") That would mean we're still doing better than most of SoCal and the hardest-hit markets in the nation.
On the other hand, most readers find the start price on Pine of
$1.889m to be overly optimistic. About three-quarters of those voting thought at least a 10% price chop is in order, down to
$1.7m or below.
(Click graphic to enlarge.)The greatest segment of all voters – a plurality of
32% – believed the sale price would come in between
$1.6m-
$1.699m. The vote distribution favoring that choice began early and remained consistent over several days.
And, as always, there were bears. A segment of
21% of voters said the sale price would wind up more or less flat to 2003 (the option of
$1.5m-
$1.599m included the acquisition price), while another
16% thought the sale price would dip
below $1.5m. That'd be the extreme.
Recall that one of the reasons MBC put forth this poll was to try to gauge where current MB prices might be perceived to be now in relation to 2003 prices. So we'll look at the same results in a different way.
About a quarter of those voting estimated that the final price would be 9% to 20% higher than the 2003 value (
$1.7m or higher).
(Click graphic to enlarge.)Most voters were not optimistic about a markup higher than 9%. Fully
69% of participants thought the final sale price would be no better than 9% higher (
$1.699m), and might even be lower than the 2003 price. (Another 5% thought the home would not sell.)
Translation: The perception among our poll voters of the state of our market – at least for a newer Tree Section home – is that you can expect a markup of
maybe 10% on your 2003 purchase.
Reader participation in this poll was very solid, near the highest total we've seen, despite the August vacation season/doldrums. We got that message: We'll look for more opportunities to open questions like this to you in the future.
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 April 1st, 2023 at 3:30am 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.
