The Real Estate Month and Year

We received this real estate update for December, along with a market analysis for the entire year of 2011, from local real estate agent Victoria Massengale.

December 2011 Real Estate Update

In the month of December, we had a total of twenty three homes listed with three of those closing escrow.  Here is a breakdown of homes that were Sold, went into Escrow and are still Active:

In Escrow

Eight homes are currently in Escrow.  They range from $585,000 to $1,545,000 and an average price per square foot of $433.18.  I will have no information regarding the actual sale price until the homes close escrow.

Active

We have thirteen homes currently on the market.  Of those, one was listed in the month of December, which is typical; most people prefer not to list their home during the holidays.  The average days on market for the remainder of the homes is ninety five.  The average price per square foot is $503.43 and the list prices range from $549,950 to $1,489.000.

Sold

December is always a slow month, with new listings gearing up in January.  I do expect a rise in transactions with the new year.  This is how we ended 2011.

Property….. Days on Market…..  List Price…..       Sale Price…….    Sale Price psf

716 Alta Vista          67                          $749,000              $710,000                    $503.55

531 N. Martel           34                        $879,000                  $845,000                  $491.28

947 N. Martel         126                        $899,000                  $875,000                  $623.22

806 N. Fairfax          53                      $1,299,000                 $1,100,000                $290.31

The average days on the market for the sold homes is 70, with the house at 947 Martel bringing the average up a little.  The average days on the market in October was 36 and November was 85.  The average price per square foot is $429.17.  If you remove the house at 806 N. Farifax, it brings the average price per square foot to $539.35.  Compared to October, which was $507.77 and November came in at $524.87, the price per square foot is actually up slightly.

2011 Market Analysis Report

Month Sold Average Days on the Market Low Price Median Price High Price Average Price Per Square foot
January 3 20 $770,000 $829,000 $1,590,000 $543.83
February 2 90 $770,000 $899,500 $1,029,000 $589.84
March 4 77 $580,000 $1,100,000 $1,800,000 $537.37
April 3 125 $817,000 $850,000 $1,375,000 $497.38
May 4 46 $645,000 $824,500 $1,300,000 $481.83
June 10 32 $715,000 $869,500 $1,500,000 $500.90
July 4 67 $899,900 $957,500 $1,775,000 $402.69
August 7 32 $665,000 $740,000 $1,490,000 $502.34
September 7 55 $625,000 $887,000 $950,000 $459.95
October 2 53 $850,000 $980,000 $1,110,000 $560.00
November 5 85 $645,000 $1,000,000 $1,120,000 $524.87
December 3 71 $845,000 $875,000 $1,100,000 $429.17


2011 Totals

Sold Average Days on Market Low Price Median Price High Price Average Price Per Square Foot
55 57 $580,000 $887,000 $1,800,000 $492.37

 2010 Totals

Sold Average Days on Market Low Price Median Price High Price Average Price Per Square Foot
45 79 $470,000 $825,000 $1,600,000 $493.03

As you can see, there were ten more sales in 2011 than in 2010.  Although the Median Price is higher, the Average Price Per Square Foot is basically flat.  Although there has not been a rise in sale prices, it has not fallen either.

Editor’s Note:  Victoria was the agent for the super-cool Streamline Moderne home at 947 N. Martel, which finally sold for $875,000.  Someone got a good deal on that one.

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2 Responses to The Real Estate Month and Year

  1. Jimmy Martinez is looking for a house in the neighborhood up to $1 million. 3 beds and 2 baths with a yard are preferred. My number is 323.377.0548 and my email is jimmy@housesinla.com

  2. Sandy says:

    Metal Flowers Media is now casting a network documentary style special which aims to resolve conflict between neighbors. The show will document the feuding neighbors and bring in a mediator to assess and resolve the situation. If you, or anyone you know is currently experiencing neighborhood drama and are interested in learning more, please contact Sandy at sandy@metalflowersmedia.com or visit metalflowersmedia.com.

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