Recent Sales: Some Up, Some Down

There has been quite a run of diverse home sale closings in recent days.

Some have, or tell, a little story.

At 2104 Flournoy (5br/5ba, 4297 sqft.), you find a late-90s custom house on a wide and large lot (8600+ sqft.) with pool. 

It was both up and down.

The sale price of $8.455M was considerably above its $5.700M acquisition price from 5 years ago. Then again, it had been marvelously restyled inside, that pool was added, and it was finally living up to its billing as an oversized custom house near Martyrs. 

The only hitch: The sale price was $895K below the initial asking.

This happens with a completely unique property where comps are merely a suggestion.

1809 Magnolia (4br/5ba, 3392 sqft.) was up. 

Four years ago, it sold off-market for $3.500M. 

Now it has sold again off-market, this time for $4.125M. 

Why not try the market with this one? It has lasted a total of 13 days on market in two prior public listings! People always love it.

1315 Church (4br/5ba, 2548 sqft.) was down.

Launched Sept. 25 at $3.500M, they quickly adjusted the price for this 1970s "tweener" near Martyrs just about a week later, dropping $600K to $2.900M. 

Now it's sold for $2.800M. 

Still, we admire the quick reflexes of the sellers and agent, getting that price corrected quickly instead of sitting on it.

1833 8th (4br/5ba, 3668 sqft.) was, hmmm, kinda flat. 

In May 2023, this one flew off the shelves, selling for $3.900M in 4 days.

The custom-build modern features bold, open living areas and a paradise of a backyard, with a huge outdoor room, pool/spa, bbq and more. Super fun. 

But it has just re-sold for about the same price: $3.950M. And it took 10 weeks this time. 

3213 Valley (4br/3ba, 1976 sqft.) was up, a lot.

Closing at $2.950M, this one was up exactly $1.0 million from its 2021 acquisition price. 

Inside, it had been transformed in the capable hands of a designer.

Back in '21, it had an eclectic, dated and even off-putting look. 

This year, it wanted to be in a magazine.

Betcha they accomplished the transformation for less than $1M out of pocket.

1505 11th (5br/4ba, 3219 sqft.) was down, and down, and down again, and ended down.

Closing at $3.150M recently, this listing had showcased one of the purest examples of "marking to market" we've seen recently. 

As we have written about previously, the listing started too high at $3.695M in July, but then underwent a series of multiple price cuts, until finally someone brought an offer. 

300 Kuhn was down. 

It's a home under construction, and the buyer would need to take on completing the project. 

The lot, nearly 21K sqft., is a unique prize. There are some fun views toward downtown L.A. 

The listing popped up at $8.999M, and sold almost immediately (4 days), closing for $6.500M. 

The same property has a market history as people acquired the land and tried to make plans, then changed gears. 

We wrote about a 2017 sale in "Why Is Pricing This Lot So Confusing?"  

In sum, it's been "down" before.

The property was then listed under an alternate address for the same property, 1161 Duncan Drive. 

Asking $8.200M, it sold back then for 41% less: $4.800M. It also resold in 2021 for less again: $4.400M, with plans. 

At least this time they had something going on at the site, not just "plans."

1706 2nd (3br/2ba, 1262 sqft.) was down. 

The flipper remodel came out at $2.175M and hung around. 

After 7 weeks of market time, it has closed for $1.975M, or $200K less. 

True story: When it first came out, we chatted with a potential buyer about it. 

"It's nice, but we're really like to see it under $2 million," they said. 

You're probably not alone, we said, why not write it up?

Ah, but they hesitated, then ended up in a different area. 

Coulda been in Manhattan if they'd just made their move then.