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Santa Monica Dirt: Who is the Market Favoring, Buyers or Sellers?

Posted by John Hathorn on August 31, 2012
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Several exciting new North of Montana Avenue sales indicate that much of real estate market losses of 2007 – 2011 seem to have been erased.

Low inventory, pent-up demand, record low interest rates and several $5M+ have had made this a very good time for Sellers.

All price points from tear-downs to new construction are getting multiple offers.

Here is your real estate news:

No New Listings this week

New Sales this week

212 24th St. –   5bd + 4.5ba.  $4,849,000.  Sold in a week!   Listed by Pence Hathorn Silver.  Brand new East Coast Traditional nearly 5,000 sq. ft. on a 60 x 147 lot. One of the finest built homes I have ever had the pleasure of brokering.

550 10th St. –   5bd + 4.5ba.  $3,295,000.   Nice home, north of Alta with a great floor plan and priced to sell quickly.  Apx. 4,300+ sq. ft.  Large backyard with room for a pool.

1820 San Vicente Blvd. –   4bd + 3.5ba.  $2,650,000.   Oversized corner lot apx. 12,906 sq. ft.

503 9th St. –   5bd + 3ba.  $2,288,000.   Sold in two weeks way over list price, 19 competing offers!  1927 house apx. 3,261 sq. ft., corner of 9th & Marguerita. The permitted guest house over the garage adds tremendous value.

415 14th St. –   3bd + 1.25ba.  $1,850,000.   This home came on the market Tuesday. The listing agent was completely overwhelmed by the activity.

745 19th St. –   2 units.  $1,995,000.   Listed by Pence Hathorn Silver.  Legal duplex north of Montana Ave. on an apx. 8,940 sq. ft. lot.

New Closed Deals this week

239 21st Pl. –   6bd + 5.5ba.  $3,795,000.   Listed and sold by Pence Hathorn Silver. With a little bit of updating (new appliances and countertops) this home would easily be worth well over $4 million. Oversized lot (apx. 10,290 sq. ft.)  apx. 5,692 sq. ft. of interior space.  Corner at Georgina and 21st Pl.

622 25th St. –   6bd + 7ba.  $5,195,000.   Finally we have broken the $5M cap that was imposed during the melt-down of 07-12! This home has a huge basement, perfect floor plan, elevator to all 3 levels and a really nice backyard.

2222 San Vicente Blvd. –   4bd + 3ba.  $1,749,000.   Ranch style home.  Needs  updating.   First time on the  market since November 1996.

Pence Hathorn Silver Active Properties:

212 24th St. – 5bd + 4.5ba – $4,849,000

635 20th St. – 4bd + 5.5ba – $4,250,000

825 Berkeley St. – 4bd + 5.5ba – $3,995,000

1550 Old Oak Rd. – 3bd + 2.5ba – $3,650,000

401 18th St. – 4bd + 4.5ba – $3,325,000

307 21st St. – 5bd + 4.75ba – $2,895,000

551 Lincoln Blvd. – 5bd + 4.5ba – $2,998,000

311 23rd St. – 4bd + 3ba – $2,995,000

745 19th St. – 3bd + 2ba – $1,995,000

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

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