
You might get the feeling that the market is skewing here in the first half of September. Big-dollar sales are happening, and not much else.
Today's entry is 1012 Pacific, on the market just over 2 weeks, priced at $3.8m, and already in escrow. And get this, it's almost certainly a lot sale.
(The listing language…

You might get the feeling that the market is skewing here in the first half of September. Big-dollar sales are happening, and not much else.
Today's entry is
1012 Pacific, on the market just over 2 weeks, priced at $3.8m, and already in escrow. And get this, it's almost certainly a lot sale.
(The listing language touts the lot and location, and as a sidenote mentions that the ho-hum "ranch style home" needs updating. This is a way of saying, "We know that nobody pays $4m for a ranch house around here.")

The lot is huge (for MB) at 12,000 sq. ft., mostly because it's deep.
Did you know they had street-to-alley lots in the Hills? Did you know they had alleys? Here and there...
Let's use this as an occasion to update our list of September escrows (from MLS-listed SFRs, using last list prices):
- Hill: 512 John ($3.99m), 1012 Pacific ($3.8m)
- Sand: 217 Sea View ($1.520m), 505 3rd ($1.949m), 216 2nd (under construction, 1 DOM, $4.699m), 1212 The Strand ($10.9m)
- Trees: 717 31st ($3.379m)
That's what we see,
7 sales, with an average price
(useless figure alert!) of $4.32m, and a
median of, well, 1012 Pacific's
$3.8m.
(Three sales above, three below.)
If the volume of higher-priced home sales remains high compared to the number of sales below $2m, we could see a crazy-high median in the closing month (probably most in October) for these sales, despite an apparent slowdown at the "lower" end.
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 24th, 2023 at 5:46pm 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.