A week ago, MBC said we're all "waiting for new escrows."
And we got some. But not a lot.
Since Aug. 20, we saw these go:
- 1008 11th (new construx., pre-completion, Hill, $2.9m)
- 637 6th (newer, big, Hill, $3.9m)
- 225 Moonstone (remod, Sand, $1.3m)
- 217 9th [again] (new, Sand, $3.35m)
As we've noted before, there…
A week ago, MBC said we're all "
waiting for new escrows."
And we got
some. But not a lot.
Since Aug. 20, we saw these go:
- 1008 11th (new construx., pre-completion, Hill, $2.9m)
- 637 6th (newer, big, Hill, $3.9m)
- 225 Moonstone (remod, Sand, $1.3m)
- 217 9th [again] (new, Sand, $3.35m)
As we've noted before, there were some Sand Section TH sales, too, but MBC doesn't track those officially.
With the Hill and Sand Sections renewing their clocks, there are still these problems:
- Tree Section <$2m: 20 days now since last new escrow (3108 Poinsettia)
- Tree Section $2m+: 28 days now (2104 Palm)
The higher-end Tree Section drought, at 28 days, now exceeds the previous
25-day drought MBC reported on – way, way back in late July (see "
Drought Ends, Glut Continues"). And the
20-day stoppage at the lower end is surprising, given the
ravenous appetite of buyers earlier.
Question: Is anyone even looking in the $2m+ range?
A quick glance shows a total of 10 new escrows/pending sales in August (SFRs, west of Sep.), most of those in the first week of the month. That's
about half the monthly volume for Spring and Summer this year, but the dropoff after Week 1 is the part that startles.
Meantime, we see hints of one late-stage escrow in trouble, but let's wait till that's news.
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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 23rd, 2023 at 2:01pm 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.
