Gone in 60 seconds
Tuesday, February 24th, 2009Below is a list of mostly February and some January sales that sold in 10 days or less, almost all of them with multiple offers and almost all of them for full price or more! What does this mean? Well I personally think it means that sellers are getting more realistic with their prices. Why? Because there has always been buyers out there, yes always, but now the sellers have realized in order to sell their house fast they have to price it right!
Most of these were brand new listings that came out at great prices and got rewarded with a quick sale and/or and over the asking price! 2 of these on the list were listed at much higher list prices and made a dramatic price reduction and then sold very quickly. This is encouraging to see that even in these tough economic times with no real bottom in sight for the next 3-6 months (at least) people are willing to bet they got a good enough deal that they snapped up these properties in a hurry.
On an interesting note, one big observation I have noticed is the disconnect from the the sellers in North Redondo that use to become the low end buyers in Manhattan and Hermosa that are now just strictly sellers. Even though prices have fallen in Manhattan and Hermosa Beach the Redondo Beach seller is not making that jump across Avaition Blvd like they use too. This is actually hurting Manhattan Beach’s entry level values. That Redondo Beach Seller seems to be just that, a seller and not a new buyer. They are getting out and sitting out. But their market is on fire! Why? Because of its price range, buyers in that neighborhood are able to take advantage of the loan programs like FHA, Conforming and Jumbo-Conforming Loans. (Listen to Dan and Dougs Radio show on February 19th to hear about those loans and tax breaks too!)
SALE SOLD IN 10 DAYS or LESS!
S09015062 405 21st ST MB 1,149,000 7 days (sold with 7 offers, over the asking)
S09017865 2615 Crest DR MB 1,175,000 0 days ( sold off market)
S09022669 133 17th ST MB 3,450,000 0 days* was on the market but sold while of the market with Multiple offers
S08158166 3404 The Strand MB 5,500,000 3 days* $1 million+ price reduction
S09014152 208 The Strand MB 6,800,000 0 days* sold off market never hit MLS
S09018298 1540 MarineAV MB 899,000 5 days
S09008764 129 1st ST MB 1,199,000 9 days (Had 4 offers for over the asking price)
F1792864 432 24TH ST MB 1,199,888 0 days (sold off market with multiple offers)
S09005138 505 Anderson MB 799,900 3 days (sold with 7-8 offers will close near 900K)
S09016950 122 Manhattan Ave. MB 1,579,000 10 days (had 8 offers sold way over the asking price)
S09013956 714 N Irena AV #D RB 579,000 9 days
S09015066 1915 Morgan LN #A RB 559,000 7 days
V09020736 2115 Ripley AV RB 629,000 6 days
S09019572 1908 Spreckels RB 735,000 8 days
S09017842 2105 Mathews AV #12 RB 539,000 9 days
S09017876 2107 Plant AV #B RB 789,000 9 days
Market recap (MB,HB,RB):
January escrows: 42
January Closings: 54
February Escrows: 30 (as of Feb. 24th.)
February sale: 42 (as of Feb. 24th.)
