Like the summer of 2012, this summer has felt more like Spring in terms of real estate market activity. 4 new sales, 2 closings and, as of Friday afternoon, 1 new listing in the north of Montana Ave area over the past 7 days. This is much more typical of March or April than July or August.
A few weeks ago I wrote that prices would probably stop climbing in the 2nd half of this year but the listing this week of a land-value property at 328 Euclid at a whopping $2.4M list price will be interesting. It was not that long ago that we were quoting $250 per foot for dirt and that price was true of Brentwood and the Palisades as well. If this property sells at full price – $319 per foot (for the dirt), it will set a new record for land value in the Roosevelt School District for a 50X150 lot. Euclid is a great street though some superstitious people might not want to buy on what is essentially 13th Street. Fortunately, most people are not at all superstitious and it probably won’t matter.
What say you?
New Listings this Week
328 Euclid St. – 2bd + 1ba. $2,395,000. Another 7,500 sq ft, tear down, fully priced, and almost certainly no issue with possible historical significance to hinder its development for a new home. If this property sells at full price, it will mean that $319 per foot for dirt is the new price and it will set a new, all-time record for 50 X 150 dirt in the Roosevelt School District.
New Sales this Week
476 21st St. – 5bd + 4.5ba. $3,550,000. Large corner lot apx. 8,947 sq. ft. 1927 Spanish home with old world charm and beautiful landscaping. Last sold in May 1985.
415 14th St. – 4bd + 3.5ba. $3,400,000. Single level designer home. Bright with high ceilings, large great room, exceptional master. Private back yard w/mature trees. Last sold in September 2012 for $1,900,000.
1201 San Vicente Blvd. – 4bd + 3.5ba. $2,425,000. Rustic traditional, lots of natural light and great outdoor spaces. Remodel or build new on this 8,300 sq. ft. lot.
531 11th St. – 4bd + 4ba. $2,300,000. Remodel or build your dream home on a 7,509 sq. ft. lot. First time in the market in over fifty years.
Closed Deals this Week
727 12th St. – 5bd + 3.5ba. $2,884,625. Sold in 8 days!
327 12th St. – 3bd + 1.5ba. $2,552,000. Sold in 11 days, $257,000 over asking!
Pence Hathorn Silver Active Properties:
544 Euclid St. – 5bd + 5.5ba – $4,795,000
465 25th St. – 5bd + 5.5ba – $4,195,000 or $22,000/MONTH
168 S. Medio – 5bd + 3.5ba – $3,988,000
838 17th St #102 – 2bd + 2.5ba – $1,549,000
1929 Washington – 2bd + 2.5ba – $1,249,000
1138 20th #9 – 2bd + 3.5ba – $799,000
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. Add your comments (scroll down to the “Add Your Comment” section) and read other blogs. And please call my mobile phone (310) 924-4014 with any questions.