There is a little movement amid the otherwise complete stagnation of the Tree Section market above $2m.
The "cheapest" home over $2m, and another priced just under $2m, are now apparently near deals:
- 2909 Elm (5/4, 3450 sq ft) was featured by MBC after the price moved from $2.8m to $2.025m; [please see update at…
There is a little movement amid the otherwise complete stagnation of the Tree Section market above $2m.
The "cheapest" home over $2m, and another priced just under $2m, are now apparently near deals:
- 746 36th (4/4, 3000 sq ft) is a newer listing that began at $1.985m, perhaps endeavoring to avoid the curse of the $2m+ segment.
Both of these homes were completed by the early 1990s, so this hardly relieves the new-construction glut. But at least it's action. (They're both on "hold" status, a step short of pending.)
MBC doesn't record the exact dates that homes go into escrow. But we can estimate pretty reliably that the last one to go in the Trees at $2m+ was
3005 Poinsettia ($2.525m) on or about June 29.
Y
es, that's nearly a full month now without a sale in the $2m+ range. Inventory in the segment was at 32 on the last
MB Market Update.
Of course, it's not hard to imagine 2909 Elm going for a bit under $2m, in which case the clock keeps running while we wait for a sale in this segment.
UPDATE: The risk of blogging as news breaks is that
the news can change. As of 5pm Tues., 2909 Elm is now canceled, not on hold or pending. Are they giving up, re-listing, or sold? We'll write again when we get the info. The first comment (below) was sage.
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 29th, 2023 at 2:45am 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.
