MBC is tracking listings held by the owners for two years before they hit the market this Spring and Summer.
The issue was first discussed in this story three weeks ago, when we had 9 itchy listings.
We're now at 13, with 5 pending or sold.
This graphic, organized by markup % sought, provides a snapshot:
(click to…
MBC is tracking listings held by the owners for two years before they hit the market this Spring and Summer.
The issue was first discussed
in this story three weeks ago, when we had 9 itchy listings.
We're now at 13, with 5 pending or sold.
This graphic, organized by markup % sought, provides a snapshot:
(click to enlarge graphic)There's not yet enough data to say much.
The sale at
628 12th St. was so quick, and at such a modest markup, you almost think these sellers could have made $100k-$200k more if they had been willing to try a higher price and a longer wait. (They sold within 2 days.) Well, they were ready to go, and, in fact, they probably
didn't walk away with a profit.
The sale at
2500 Pacific provides no clear market information for us today – the buyers 2 years ago actually took a big discount off the $1.2m-$1.4m VRM price when they paid $1.005m. (
No one got discounts in Summer 2005!) So, while they sold now for $1.170m, is that really a 17% increase in value?
Pending are two big-time remodels (
1800 Laurel &
3204 Poinsettia) and a home that was already sold once this year (
228 5th Pl).
You can see how cloudy our quest for information on the market's trajectory, based on this measure, is becoming.
We'll check out of this update with these generalizations...
4 of the 5 sold homes were very nice. 1 was just nicely priced for today's market.
Among the actives, almost all are desirable, but the prices range from wishful to delusional.
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 23rd, 2023 at 12:47pm 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.
