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Has the Summer Slowdown Begun?

Posted by John Hathorn on June 14, 2012
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Santa Monica Dirt by John Hathorn June 14th, 2012

June is often a tricky month for real estate sales in our area and as proof, there was only one sale in the 90402 flats in the past seven days – 208 Adelaide Dr, which was listed on April 6, 2012  at $11,850,000.

It is a common misconception that summer is a real estate agent’s busiest time of the year.  Most homeowners are unaware that early spring is when the market heats up and that by the time kids are graduating and vacations have begun, the number of sales usually drops way off.  If this pattern is indeed repeated this year (and it seems it will), the next bump up in sales might not be until September, when many schools are back in session and family vacations have ended.

There are many theories as to why this is but most common are the most obvious – Buyers and Sellers have less time and more distraction in the summer months.

If you would like a detailed report of each and every home sale in the area, call me at (310) 924-4014 or email me at jh@phsrealty.com, or stop by my office – 1333 Montana Ave. on the corner of 14th St.  There is free parking behind the building.

 

 Here is your real estate news:

 Active/ Available New Listings

305 10th St.–  5bd + 3ba.  $2,450,000.   New Listing.  This house has been talked about for several weeks and finally hit the market today (see right photo). It’s a very well-priced, fixer upper (or scraper) and its nearly 11,000 sq. foot will cause it to sell despite the seasonal slowing of summer.  The Landmark Commission will no-doubt have the final word on its development.

 

Please call 310.924.4014 for an appointment to see this home

New Sales (Now In Escrow/ Sale Pending)

208 Adelaide Dr. –   4bd + 5.5ba.  $11,850,000.    A very “Hollywood” decor and situated behind gated gardens and mature trees on the most coveted block of Adelaide.  Was owned by Laura Ziskin. Sweeping ocean and mountain views.

Sold/ Closed

733 19th St.–   3bd + 2.5ba.  $2,495,000.   Sold by Pence Hathorn Silver.   Finally closed at $2,460,000.  Tastefully updated, dramatic and emotional 1920’s Spanish style with huge bonus room off the garage.

514 9th St.–   5bd + 4.5ba.  $3,500,000.      Last sold in 2002 for $1,750,000.  Mostly nice upgrades but still a bit 1980’s in places.  Good value based on the square footage.

Pence Hathorn Silver Active Properties:

101 17th St. – 6bd + 8.5ba – $6,750,000

145 Ocean Avenue Ext. – 5bd + 5.5ba – $5,549,000

635 20th St. – 4bd + 5.5ba – $4,395,000

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

239 21st Pl. – 6bd + 5.5ba – $3,795,000

343 14th St. – 4bd + 4.5ba – $3,650,000

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 – $3,295,000

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

2060 Benedict Canyon Dr – 3bd + 2.5ba – $1,199,000

3640 Tilden Ave. – 4bd + 2.5ba – $925,000

1337 Wellesley Ave. #401 – 2bd + 2.5ba – $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 me at (310) 458-4024 with any questions.

 

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