Waiting for New Escrows

Posted by Dave Fratello on Monday, August 20th, 2007 at 6:21pm.

We're sure homes will sell. But the mortgage market mess has clearly disrupted the local real estate market.

It has been 2-3 weeks since a new deal was made, depending on which part of MB you're looking in. (Remember we track only SFRs west of Sepulveda.) Here are the number of days since a new escrow last posted:
Hill Section: 21 days

Sand Section: 16 days

Trees <$2m: 12 days

Trees >$2m: 20 days
As we continue tracking, going forward, here are our starting points. MBC's records show:
Hill Section: Last escrow began July 30, for 877 8th ($3.7m).

Sand Section: Last escrow began Aug. 4, on 469 27th ($1.6m).

Trees <$2m: Last escrow began Aug. 8, on 3108 Poinsettia ($1.65m).

Trees >$2m: Last escrow began July 31, on 2104 Palm ($3.3m).
Corrections/additions/news are all welcome.

UPDATE 1: The first version of this story had a small math error, now fixed above.

UPDATE 2: A Hill Section home that we simply never saw on the MLS (1008 11th; new contrux at $2.9m) went into escrow Saturday. So there was a sale, but not from the homes MBC is tracking from the MLS. For now we're going to leave that 21 day figure above.
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