January Real Estate Report

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

January 2012

Homes are still selling in Melrose Village! In the month of January, we had a total of 25 homes listed and 4 closed escrow.  January of 2011 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

Four homes were removed from the market, with prices of $559,000, $715,000, $799,000 and $1,099,000. The average price per square foot for these homes was $676.91.

In Escrow

Eight homes are currently in Escrow.  They range from $400,000 to $1,498,000 and an average price per square foot at $457.32.  The sale price will be available upon closing.

Active

We have fourteen homes currently on the market.  Of those, five were listed in the month of January.  The average days on market for the remainder of the homes is 132 days.  The average price per square foot is $503.86.

Sold

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

Property       Days on Market      List Price     Sale Price     Price psf

761 Willoughby       62                     $585,000         $560,000              $479

725 N. Ogden           63                     $669,000          $597,000              $506

720 N. Martel           7*                    $699,000           $615,000               $515

516 N. Poinsettia      86                  $1,545,000          $1,450,000           $426

The average Days On Market for the sold homes is 55, which is a little more than we have been experiencing in recent months.  Now that the holidays are over, I expect homes to begin moving a little quicker again.  The average price per square foot is $455.41.

*720 N. Martel had been on and off the market since 2007.  There was a four month gap between the last time it expired and the newest listing date, which is why it was technically on the market for seven days.

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