Real Estate Update

We received this report on real estate in Melrose Village from local realtor Victoria Massengale:

Can you believe it’s the beginning of December?  I don’t know about you, but I can’t believe the year has gone so quickly!  In the month of November, we had a total of twenty six homes listed with five of those closing escrow.  Here is a breakdown of homes that were Sold, went into Escrow and are still Active:

In Escrow

Five homes are currently in Escrow.  They range from $400,000 to $1,299,000 and an average price per square foot of $478.95.  I will have no information regarding the actual sale price until the homes close escrow.

Active

We have sixteen homes currently on the market.  Of those, three were listed in the month of November.  The average days on market for the remainder of the homes is eighty four days.  The average price per square foot is $486.30 and a list price ranging from $549,950 to $1,545.000.

Sold

Obviously, what everyone really wants to know is what sold and for how much!

Property  Days on Market  List Price  Sale Price  Sale Price psf

750 N. Martel…..64…..$669,000…..$645,000…..$580.04

502 N. Stanley…..14…..$795,000…..$770,000…..$432.58

521 N. Poinsettia…8…..$999,000…..$1,000,000…..$460.83

720 N. Vista…..307…..$1,095,000…..$1,035,000…..$631.08

542 N. Curson…..30…..$1,149,000…..$1,120,000…..$558.60

The average days on market for the sold homes is 85, but if you remove 720 N. Vista, which was on the market for almost a year, it brings the average down to 29 days.  The average days on market in September was 60 and October was 36.  The average price per square foot is $524.87 compared to September, which was $472.83 and October came in at $507.77. 

November is typically considered a slow month, but that has proven false this year.  I expect a slight dip in December, but it’s completely normal and should pick up again in January.

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