Hello Fellow Friends and Neighbors,
I hope you are having a great week! I can’t believe April is already here! I wanted to thank everyone who came out to see me and the Easter Bunny a few weeks ago at my neighbor and client appreciation event. I had a blast seeing you! Sales prices in the Met were very strong in the month of March with two really good sales comps of non loft 2 bedroom units selling over $400k and one sale comp that I sold for a 1 Bedroom (non loft) over $300k. Many listings that have come on the market have gone into escrow very quickly. Values are steadily approaching record highs for the Met. For example, I successfully closed escrow on a 1 bedroom unit in Building 4 in for $301,000. This was the first sale for a 1 bedroom (non loft) in the $300ks since the 2006-2007 market. From start to finish, the process of putting the property on the market to closing escrow took only 17 days. The market is still moving here at the Met as my listings are being sold very quickly due to the shortage of properties for sale. This is a great opportunity for sellers right now to take advantage of low supply and high demand. Interest rates staying near all time lows also makes it a good time for using your equity to move up into a larger property or to shorten your commute to work. I’m very interested to see what the final sale prices of the escrows opened in March. I am anticipating some very good comps. The information below compares the Real Estate Activity of March 2016 to February 2016 as reported by the Southland Regional Association of Realtors MLS.
Please contact me directly if you’d like the full sales list for the month or if you are just wondering what your home might be worth.
March 2016 Totals
6 New Listings in March
9 Listings in Escrow in March
8 Closed Sales in March
February 2016 Totals
12 New Listings
7 Listings in Escrow in February
5 Listings Closed Escrow in February
January 2016 Totals
7 New Listings
8 Listings in Escrow in January
2 Listings Closed Escrow in January
Inventory Level on March 31st:
4 Active Listings
12 Listings in Escrow
March 2016 New Listings
– 5540 Owensmouth Ave, 2nd Floor, 2BR/2BA, 920SF, Listed for $415,000
– 21400 Burbank Blvd, 3rd Floor, 2BR+Loft, 1,050SF, Listed for $398,000 (Sold with multiple offers)
– 5525 Canoga Ave, 2nd Floor, 3BR/2BA, 1,020SF, Listed for $410,000
– 5510 Owensmouth Ave, 2nd Floor, 2BR/2BA, 920SF, Listed for $395,000
– 5515 Canoga Ave, 2nd Floor, 2BR/2BA, 1,010SF, Listed for $387,500
– 5535 Canoga Ave, 3rd Floor, 1BR/1BA, 610SF, Listed for $309,000
March 2016 Listings Put in Escrow
– 5500 Owensmouth Ave, 1st Floor, 1BR/1BA, 610SF, Listed for $309,000, Sold for $301,000 (Listed and Closed Escrow by Kevin Mcdonald in 17 days. First 1BR (non loft) Sale over $300k since 2006-2007.)
– 5510 Owensmouth Ave, 1st Floor, 2BR/2BA, 920SF, Listed for $399,000
– 21400 Burbank Blvd, 2nd Floor, 2BR/2BA, 920SF, Listed for $399,000
– 5530 Owensmouth Ave, 1st Floor, 3BR/2BA, 1,020SF, Listed for $385,000
– 5515 Canoga Ave, 3rd Floor, 2BR/2BA, 1,010SF, Listed for $375,000
– 5540 Owensmouth Ave, 2nd Floor, 2BR/2BA, 920SF, Listed for $415,000
– 21550 Burbank Blvd, 2nd Floor, 2BR/2BA, 910SF, Listed for $398,500
– 21400 Burbank Blvd, 3rd Floor, 2BR+Loft, 1,050SF, Listed for $398,000 (Sold with multiple offers)
– 5510 Owensmouth Ave, 3rd Floor, 1BR/1BA, 610SF, Listed for $290,000
March 2016 Closed Sales
– 5500 Owensmouth Ave, 2nd Floor, 1BR/1BA, 610SF, Listed for $279,900, Sold for $277,000
– 5500 Owensmouth Ave, 1st Floor, 1BR/1BA, 610SF, Listed for $309,000, Sold for $301,000 (Sold by Kevin Mcdonald. First 1BR (non loft) Sale over $300k since 2006.)
– 5510 Owensmouth Ave, 3rd Floor, 1BR+Loft, 740SF, Listed for $329,000, Sold for $329,000
– 5500 Owensmouth Ave, 1st Floor, 1BR+Den, 750SF, Listed for $349,999, Sold for $335,000
– 21450 Burbank Blvd, 3rd Floor, 2BR+Loft, 1,050SF, Listed for $390,000, Sold for $390,000
– 5510 Owensmouth Ave, 1st Floor, 2BR/2BA, 820SF, Listed for $399,500, Sold for $390,000
– 21500 Burbank Blvd, 2nd Floor, 2BR/2BA, 920SF, Listed for $389,900, Sold for $402,000
– 5510 Owensmouth Ave, 3rd Floor, 2BR/2BA, 820SF, Listed for $399,000, Sold for $410,000
At your service,
Kevin McDonald
Realtor
Pinnacle Estate Properties
818-256-7514
[email protected]
Lic# 01810388
www.theMetWoodlandHills.com
www.KevMcdonald.com
If your property is currently listed with another Broker, this is not intended as a solicitation of that listing.
This information is based on all homes closed in “The Met” as reported through the Southland Regional Association of Realtors multiple listing service.
