Local real estate agent Victoria Massengale sent us this informative report on the market in our neighborhood:
Melrose Village Real Estate Update
It looks like Real Estate is starting to move again in Melrose Village! In the month of September, we had a total of 30 homes listed and 6 closed escrow. September of 2010 had only 3 homes close escrow.
Here is a breakdown of homes that were taken Off Market, Sold, went into Escrow and are still Active:
Taken Off Market
Three homes were removed from the market, with prices of $499,000, $879,000 and $1,499,000. The average price per square foot was $567.67
Six homes are currently in Escrow. They range from $669,000 to $1,149,000 and an average price per square foot at $544.24. I will have no information regarding the actual sale price until the homes close escrow.
We have fifteen homes currently on the market. Of those, 6 were listed in the month of September. The average days on market for the remainder of the homes is 91.625 days. The average price per square foot is $547.17
Obviously, what everyone really wants to know is what sold and for how much!
Property Days on Market List Price Sale Price Price psf
751 Ogden 9 $649,000 $625,000 $438
719 Gardner 113 $749,000 $759,000 $529
752 N. Detroit 12 $889,000 $904,000 $457
740 N. Vista 18 $895,000 $887,000 $585
326 N. Vista 169 $985,000 $900,000 $363
404 N. Formosa 41 $1,059,000 $950,000 $465
The average days of market for the sold homes is 60.33, so if your home is listed, don’t get frustrated; it takes a little longer than it has in the past to find a qualified Buyer. The average price per square foot is $472.83.
If you would like further information regarding the Real Estate market or are interested in buying or selling a home, feel free to contact me. Victoria Massengale, (323)640-2924, Keller Williams Beverly Hills.