Santa Monica Dirt by John Hathorn August 23rd, 2012
“Hot town, Summer in the City, Back of my neck……..” (you know the tune). It was number one on the Billboard Charts in August of 1966 and tells the tale of nobody being around town in the summer. Up until this summer, I tended to agree that July and August tended to be quiet. But this summer was highly unusual in terms of real estate transactions in that it was one of the most robust my colleagues and I have ever experienced. For example, at last count there were 19 offers submitted to purchase a well-priced, modest, 1920’s home on 9th and Marguerita. “Hotter than a Match Head……”
Here is your real estate news:
New Listings this week:
714 Euclid St. – 4bd + 3ba. $1,995,000. May be too close to Montana Ave. for some but very saleable nonetheless. Last sold in September 2009 for $1,600,000 (so why not try for $2M three years later).
New Sales this week
333 20th St. – 5bd + 6.5ba. $5,250,000. Built in 2007. Apx. 7,000 sq. ft. of living space. Large basement. This home last sold in June 5, 2007 for $5,100,000. Noteworthy as 2007 was the beginning of the crash. If this closes at $5M+ it would mark a recapture of nearly all the losses experienced as the recession eroded equity and prices dropped until recently.
New Closed Deals this week
408 17th St. – 5bd + 4.5ba. $3,250,000. This is one of my favorite remodeled homes in the neighborhood. It was tastefully redone a few years ago, sold to an A- list actor and re-sold a few years after that. Much of the original charm remains.
346 16th St. – 4bd + 3ba. $2,682,000. This is another great example of how hot this summer was. Multiple offers and nearly $200,000 over list price is how this apx. 3,000 sq. ft. 2-story Spanish on an apx. 7,500 sq. ft. lot closed escrow.
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.
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And please call me at (310) 458-4024 with any questions.