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The Very Last Spec of 2013 Dirt

Posted by John Hathorn on December 26, 2013
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I read a story in the Santa Monica Press recently written by a real estate agent from Pacific Palisades. He was making the argument that November, December and January are good times to list your home for sale. North of Montana Santa Monica 502 16th V2

My $.02: Although there is usually less competition among sellers during the holidays, there are always personal and market condition considerations that must be taken into account.  A local expert has a better understanding of what the upcoming inventory will be in the New Year versus now.  As an expert in the North Santa Monica real estate market, I get calls from sellers throughout the year and most will ask me when they should have their home hit the market.

I give them real time info on what the upcoming inventory is likely to be and together we strategize as to how best attract the most exposure. One of the “tells” for predicting upcoming inventory in a neighborhood is the builder/developer construction projects that are easy to spot. Local real estate experts know which of these are underway for end-users, and which ones will be coming on the market and when.  Unless there is a glut predicted for the early spring market, I usually tell my clients that the 1st Sunday after the Superbowl is the best time to launch a new listing.

Sure, we sell plenty of homes in November, December and January, but with fewer offers.  More offers for a seller can often mean buyers will be competing and outbidding each other, and that is usually a Springtime phenomenon – albeit, less of a phenomenon and more of a usual occurrence these past few years.

Some buyers and sellers have a specific need to sell and close before the end of the year such as their children’s winter break from school. However in a normal, balanced market, there are not large numbers of these kinds of buyers during the holidays. Last year-end was unusual with many Sellers wanting to close their deals before the Obamacare taxes kicked in.

This year we had far less year-end activity than last:

This year North of Montana has had a total of 77 sales year-to-date, and only 12 of those were sold from October through December of this year.

Most sellers are mindful of this and are already preparing for the next year.  Right now, I have several new listings coming on the first of the year, if you want an exclusive peek, call me!

Here is your real time MLS data:

The year 2013 is coming to a close pretty fast.  We have only five days left until New Year’s Day!

Expectedly, the north of Montana market is quiet.  There was only one change in our market’s real estate market reported to the MLS this week – 410 21st St closed for $3,375,000.

With no new listings or sales and only one closing, the numbers from last week remain largely the same:

16 homes available, 4 in escrow and one sale, changing the YTD closed sales from  76 to 77.

No New Listings this Week

No New Sales this Week

Closed Deals this Week

410 21st St. –   4bd + 3.5ba.  $3,375,000.  

Pence Hathorn Silver Holiday Shopping Guide:

2009 La Mesa – 6bd + 8ba – $18,900,000

502 16th St.  – 5bd + 7.5ba – $8,495,000

6415 Meadows Court – 6bd + 7ba – $5,995,000

728 25th St.  – 5bd + 6.5ba – $4,700,000

168 S. Medio – 5bd + 3.5ba – $3,850,000

217 21st St. – 4bd + 4.5ba – $3,350,000

248 14th St. – 4bd + 4ba – $3,250,000

416 Entrada Dr. – 3bd + 1.75ba – $1,595,000

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.

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