Waiting for New Escrows

By Dave Fratello August 20th, 2007.

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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