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Typical Cycles Return

Posted by John Hathorn on March 2, 2012
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Santa Monica Dirt by John Hathorn March 2nd, 2012

Finally we can say again with certainty that the typical cycles of the Westside real estate market are showing themselves.

For years we have told Buyers and Sellers that the Spring market begins in mid-February, right after the Superbowl though some years, this market failed to materialize and there was really no rhythm or predictability to the market.

This year, the more normal (pre recession) Spring frenzy has appeared again, to a very welcoming Seller and Brokerage community.

Over list price, multiple offer sales are the norm this year. If you are looking to buy and have been waiting for lower prices or lower interest rates, to wait any longer is truly a risky proposition.

Active/ Available New Listings

Coming soon… 317 16th St., Santa Monica (see right photo)

258 16th St. –   5bd + 5.5ba.  $3,995,000.   New Listing.  Built in 2002. A lovely home, shows like the show piece that it is. Designed by husband and wife Steve and Brooke Gianetti.

616 Georgina Ave. –   4bd +3ba.  $2,695,000.   New Listing.  Wonderful west of 7th location, apx. 11,338 sq ft lot, apx. 2,397 sq ft house.

733 19th St. –  3bd +2.5ba.  $2,495,000.   We took this home off the market for the holidays and relisted it for this week. We have had numerous showings and an offer within four days of its relist. The home is over 2,600 sq. ft. and the lot is apx. 60’X149’.

609 20th St.–  3bd + 3ba.  $2,348,000.   Re-list.  This charming Spanish style home sold quickly a few months ago but the sale cancelled. My guess is that it will sell quickly again and this time – stick.

New Sales (Now In Escrow/ Sale Pending)

427 21st St.–  5bd + 4.5ba.  $3,575,000.   One of the best buys on the market last week. No surprise that it sold within one week.

 339 20th St.–  4bd + 3.5ba.  $2,095,000.   Sold by Pence Hathorn Silver .   Activity on this listing was intense with multiple offers and end users competing with spec builders to buy.  

 417 Euclid St.–  2bd + 1ba.  $1,688,000.  Just as predicted, this little fixer sold quickly and probably over asking.

 Sold/ Closed

225 12th St. –  2bd + 2ba.  Was listed for $1,825,000 and sold for $1,848,000.  Are you seeing the trend here? Sale prices exceeding list prices?  

 

Pence Hathorn Silver Active Properties:

101 17th St. – 6bd + 8.5ba – $7,350,000

509 21st Pl. – 6bd + 5.5ba – $3,995,000

401 18th St. – 4bd + 4.5ba – $3,400,000

551 Lincoln Blvd. – 5bd + 4.5ba – $3,145,000

33 26th Ave. – 5bd + 5ba – $2,799,000

733 19th St. – 3bd + 2.5ba – $2,495,000

2060 Benedict Canyon Dr – 3bd + 2.5ba – $1,199,000

3002 3rd St. #206 – 2bd + 2.5ba – $899,000

11939 Gorham Ave. #104 – 2bd + 2.5ba – $580,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave community on our North of Montana blog.

And please call me at (310) 458-4024 with any questions.

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