The count for November is 10! That’s the number of single-family homes sold last month, down from 12 last November. A quick summary of the chart below shows the average price of a home sold in the area was $3.72MM for an average of 63 days on the market.
“Our neighborhood continues to be desirable among people moving from West LA, out of state and locally,” according to local realtor and longtime Buzz supporter, Anne Loveland of Loveland Carr Group, who shared the November real estate sales numbers with the Buzz.
“Average prices were up +24% and time on the market increased 28 days from 25 days last year,” said Loveland.
“The highest sale was 354 S Lucerne at the corner of 4th in Windsor Square which started in Aug 2022 at $7.795MM. After initial multiple offers, Measure ULA took effect on April 1, 2023, and a brief withdrawal from the market for repairs, the home was relaunched and closed Nov 15th at $6.6MM, a 15.3% discount,” explained Loveland.
The second highest sale was a Paul Williams designed home at 428 N Las Palmas.
“This also had multiple offers well into the $5MM range and through a series of circumstances settled at $4.999MM, still above its asking price,” said Loveland who suggested that if positioned differently, the property would have likely sold in the mid $5MM range.
While these two properties were great opportunities for the buyers, Loveland asserts it’s still a seller’s market.
The lowest sale was at 493 N St Andrews for $1,249,000 for a 1,959 sq ft, 3 bed + 3.5 bath home.
As for what’s coming up, Loveland said there are 10 homes in escrow with sale prices that exceed $3MM – one on Cherokee, two on Rossmore, and one on Longwood. Of note, according to Loveland, the castle at 846 S Longwood is due to close soon. The asking price is $5.498MM. It started at $5.999MM in April 2022.
If you’re in the market there are over 50 homes to choose from ranging from $23MM to $999k. Check the Buzz Real Estate Open House Calendar, there are 40 open houses today including 6 new listings.
| Address | Original Price | Sale Price | Days on the Market |
|---|---|---|---|
| 354 S Lucerne Blvd | $7,795,000 | $6,600,000 | 421 |
| 428 N Las Palmas Ave | $4,598,000 | $4,999,000 | 43 |
| 330 N Arden Blvd | $3,850,000 | $3,610,000 | 35 |
| 1022 S Longwood Ave | $2,695,000 | $2,315,000 | 177 |
| 343 N Citrus Ave | $2,295,000 | $2,165,000 | 17 |
| 338 S Sycamore Ave | $1,995,000 | $1,860,000 | 55 |
| 526 N Irving Blvd | $1,849,000 | $1,880,000 | 15 |
| 570 S Van Ness AVE | $1,795,000 | $1,735,000 | 27 |
| 658 Lillian Way | $1,800,000 | $1,550,000 | 105 |
| 962 S Plymouth Blvd | $1,550,000 | $1,495,000 | 15 |
