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Pacific Palisades May sales 2011

Real estate update for Pacific Palisades, May 2011.

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Bill Kerbox, Neighbor
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The following is the Pacific Palisades Market Update from Miramar Coastal Properties:

Sold Properties by Month

In the ‘Sold Properties by Month’ category, we are down from last year 20%, which isn’t surprising based on the current marketplace, although, that adjustment only accounts for a difference of five homes from last year’s figures.  The median price is really quite close to last year’s report, coming in at $1,837,500. Last year the median price was $1,725,000. That $112,500 shift up in median price is nice but really very comparable to last year’s.  Our marketing time is similar as well, last year we reported homes stayed 78 days on the market, on average, compared to this year’s 84.  This year’s inventory is off by 20% and the price up slightly. The average ‘days on the market’ change is really insignificant. So, this year, fewer properties are selling at a slightly higher price; taking six more days to sell on average.


Under Contract Properties by Month

This category too remains almost unchanged from last year. We are down from last year 3%, but that only accounts for one home sale difference from last year; incidental at best.  Last year there were 31 homes under contract compared to this year’s 30. Where we are seeing a significant shift is in the median price of the homes compared to last year. This year’s median price is coming in at $ 1,697,000 compared to last years $2,095,000. That shifts the median price down $398,000 from last year, weighting the market toward the slightly less-expensive homes, on average.  The marketing time this year has shortened too. Last year we saw home s on the market, on average for 68 days compared to this year at 48, taking the marketing time down by twenty days.  So this year the homes going under contract are less expensive by nearly $400,000, on average and are enjoying a shorter marketing time.

Find out what's happening in Pacific Palisadeswith free, real-time updates from Patch.

 

 

Find out what's happening in Pacific Palisadeswith free, real-time updates from Patch.

Pacific Palisades Single Family Home Sales
May 2011

Total Sold Dollar Volume: $ 46,275,100 Average Selling Price: $ 1,928,129 Average List Price: $ 1,993,408 Avg Sales Price/Avg. List Price: 96.7% Median Price: $ 1,627,500 Average Days on Market: 79 Number of Listings Sold: 24

 Sold Listings:

1. 526 BIENVENEDA AVE $ 715,000 2. 14931 BESTOR $ 1,239,600 3. 841 BIENVENEDA AVE $ 1,245,000 4. 358 N LAS CASAS AVE $ 1,292,500 5. 3633 MALIBU VISTA DR $ 1,301,000 6. 1056 ILIFF ST $ 1,326,000 7. 281 BELLINO DR $ 1,395,000 8. 1877 MICHAEL LN $ 1,450,000 9. 16762 CALLE DE CATALINA $ 1,486,000 10. 1040 LACHMAN LN $ 1,540,000 11. 545 SWARTHMORE AVE $ 1,565,000 12. 911 HARTZELL ST $ 1,575,000 13. 3619 SHOREHEIGHTS DR $ 1,680,000 14. 16631 CALLE HALEIGH $ 1,825,000 15. 950 GLENHAVEN DR $ 1,850,000 16. 181 SURFVIEW DR $ 1,855,000 17. 727 OCAMPO DR $ 2,240,000 18. 16807 CHARMEL LN $ 2,295,000 19. 15247 EARLHAM ST $ 2,300,000 20. 631 VIA DE LA PAZ $ 2,500,000 21. 1000 EMBURY ST $ 2,575,000 22. 16640 CUMBRE VERDE CT $ 2,610,000 23. 1026 ILIFF ST $ 2,725,000 24. 889 TOULON DR $ 5,690,000

For further analysis of the Palisades Market please contact Bill Kerbox at 310-600-4484 or kerbox@earthlink.net

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