Are we in one of those markets now?
Twice recently we've seen listings raise their prices and make deals shortly thereafter.
First we saw this happen at 438 S. Meadows, a big Mediterranean (well, they say "Spanish") that sold this week for $2.595M.
This one listed in October 2013 for $2.500M and had a…
Are we in one of those markets now?
Twice recently we've seen listings raise their prices and make deals shortly thereafter.
First we saw this happen at 438 S. Meadows, a big Mediterranean (well, they say "Spanish") that sold this week for $2.595M.
This one listed in October 2013 for $2.500M and had a deal within about 6 weeks.
But that deal stayed in "backup offer" status for months, meaning the sellers were soliciting new offers just in case the first one didn't pan out.
Come February, the property officially came back on market. This is a solid, newer house, so we inferred that it was probably not a problem with the property, but with the buyers – perhaps a contingency for selling their own property did not pan out. (We've not tried to pry into the details, just offering an example here of the sorts of things that can happen.)
When 438 S. Meadows came back, it also jumped in price by $100K to $2.600M.
This time it lasted only one week, not six, and the sale closed quickly: Just 3 weeks after the offer had come in.
Did it sell because the price jumped? Why, no. But the boost didn't hurt, either.
Similarly, over in the easternmost part of the Hill Section, 1019 8th (3br/2ba, 1720 sq. ft.) listed nearly a month ago. For a 3br house on a 7200 sq. ft. lot west of the highway, they asked $1.749M.
Unlike every other house in Manhattan Beach – or so it seems – this one didn't sell within a week of listing.
Nope, the second week tolled, then the third, and here in the fourth, they raised the price.
On Thursday, the price jumped to $1.849M, a full $100K, just like the S. Meadows property.
On Friday, they had a deal.
Maybe it was that lucky 8?
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 18th, 2024 at 11:40pm 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.