Have you noticed? I study real estate and prices every day and have noticed some subtle changes in the market that might have a huge impact on the 2nd half of this year. I am seeing a gentle shift of investors and speculators pulling back ever so slightly and some Buyers are deciding to wait out this run-up in prices and interest rates. This is true not only in the north of Montana Ave market but Brentwood and Pacific Palisades too. I am noticing a few more homes added to the market each week and although interest rates have pulled back slightly this week, the trend and the talk are all about rising rates. Meanwhile, home prices are holding steady having risen at a blistering pace and in some cases – like the 12,500 foot, land value sale on Georgina, still climbing but at a much slower pace. If this trend continues, and rates rise 50 basis points or more, you may have missed a great opportunity to sell.
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New Listings this Week
710 Adelaide Pl. – 4bd + 3.5ba. $3,800,000. The pool, spa and guest house, might make up for the proximity to 7th St road noise. Last sold in November 2003 for $2,200,000.
New Sales this Week
635 20th St. – 4bd + 5.5ba. $4,400,000. Beautiful Spanish with great character, custom finishes and exquisite detailing throughout. Impressive formal dining room, soaring ceilings, Chef’s kitchen, luxurious master suite and bath, and much more. Pence Hathorn Silver sale last year for $4,200,000.
Closed Deals this Week
739 23rd St. – 5bd + 5ba. $3,925,000. Sold in 133 days.
334 20th St. – 4bd + 3.5ba. $3,720,000. Sold in 70 days.
1628 Georgina – 4bd + 3ba. $3,580,000. Sold in 1 week and closed 2 weeks later.
752 25th St. – 3bd + 2.5ba. $2,550,000. Sold over asking price in 10 days!
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
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.