The strong market activity we have seen for the past six months in the market under a million dollars is now happening with homes up to 3 million dollars. The spring selling season is in full effect especially with families looking to get into better school districts.
The highly desirable North of Montana section of Santa Monica, one of the top 10 wealthiest zip codes in the world, had 6 homes hit the market since March 2nd. Four of them are currently in multiple offers…
512 Georgina- LP: $3,100,000 *fixer but great sq. ft. on a 11,500 Lot. It has been on the market for a few days and already have 3 offers…
111 Esparta Way- LP: $6,195,000 *old world charm but the buyer at this price probably remodels. 4,500 sq. ft. on a flat ½ acre lot! Apparently they have received multiple offers.
610 24th Street- LP: $2,695,000 *Clean East Coast traditional that boasts 3,116 sq. ft. on a 8,700 sq. ft. lot. They have received 5 offers in 7 days.
508 10th Street- LP: $2,195,000 *2,400 sq. ft. Spanish in decent condition that needs cosmetic updating. Situated on a 7,500 sq. ft. lot. Have not confirmed but apparently they are also in multiples.
Westside realtors are the busiest we have been in 5 years and most Westside real estate offices have put help wanted signs up on the door to keep up with the amount of buyers looking for property. I didn’t foresee this happening but this is the reality of the current market with the cheap dollar, a lack of inventory and Jumbo rates becoming more competitive.