No June gloom in sight!
We are half-way through 2013 the 90402 and the real estate market has had some significant changes. The highest closed sale so far this year is a Partners Trust sale on La Mesa for $11,225,000. The lowest sale of the year is a Santa Monica Canyon property that closed at $1,600,000.
Right now, there are 29 active listings, 18 homes are under contract or in escrow, and 40 have sold and closed escrow. The average length of time on the market this year is hovering around 8 weeks.
Well-located, land value, 60X149 properties are selling for around $2.8 million in as little as one (1) week with ten (10) or more purchase offers.
We see no let-up in demand for lot value/ tear downs, though as always, overpricing is the kiss of death.
New Listings this Week
653 Palisades Beach Rd. – 6bd + 4.5ba. $4,995,000. Beach front property on the Santa Monica Gold Coast. Just north of the Jonathan Club. 4 bedrooms + 2.5 baths, plus a guest house.
1201 San Vicente Blvd. – 4bd + 3.5ba. $2,425,000. Rustic traditional, lots of natural light and great outdoor spaces. Remodel or build new on this 8,300 sq. ft. lot.
327 12th St. – 3bd + 1.5ba. $2,295,000. 1920’s Spanish 3bd + 2ba w/two detached studios/guest rooms. 50X150 foot lot. Land value development site.
New Sales this Week
622 7th St. – 3bd + 2ba. $1,850,000. This home has been on and off the market since 2010. Bungalow with detached guest house. 5,200 sq. ft. lot. Last sold in September 1999 for $650,000.
Closed Deals this Week
308 21st Pl. – 5bd + 5.5ba. $4,681,000. Sold in 13 days!
740 18th St. – 4bd + 3ba. $2,577,000. Sold over list price and in 22 days.
746 26th St. – 2bd + 1.5ba. $1,750,000. Sold 11% over list price.
Pence Hathorn Silver Active Properties:
544 Euclid St. – 5bd + 5.5ba – $4,795,000
465 25th St. – 5bd + 5.5ba – $4,295,000
168 S. Medio – 5bd + 3.5ba – $4,100,000
858 19th St #1. – 3bd + 3.5ba – $1,749,000
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.