Saturday, April 14, 2007

Marina del Rey Meltdowns

This blog is designed to document the current real estate decline in Marina del Rey. Here are the first Marina del Rey Meltdowns:

4736 La Villa Marina # C, LA 90292
CONDO 2+2, 1582 sq ft, $751K, SOLD 9/15/06, $474/sq ft

4738 La Villa Marina #J, LA 90292
CONDO 2+2, 1459 sq ft, $588K, SOLD 3/13/07, $403/sq ft (-15%)

13235 Fiji Way, # H, LA 90292
CONDO 2+2, 1763 sq ft, $768K, SOLD 7/7/06, $435/sq ft

13233 Fiji Way, # C, LA 90292
CONDO 3+2, 1935 sq ft, $720K, SOLD 1/11/07, $372/sq ft (-14.5%)


latesummer2008 said...

Some food for thought:

As stated by the LA Times on 3/18/07, the MEDIAN sales price for zip code 90292 was DOWN 24.4% on only 4 SALES for the month of FEBRUARY 07'

Why only 4 sales ????

John Lynch said...

What sort of effect with the drop in median price have on the Marina del Ray Apartment rental market?

Do you expect these trends to continue?

latesummer2008 said...

Marina del Rey sales have been the hardest hit area on the Westside. Practically Dead In The Water(DITW). I suspect his trend to continue as prices start dropping even more during the summer.
As for rentals, there are an enormous amount of condominiums still being built. Most of these, will turn into rentals, thereby glutting the rental market and dropping rents.

latesummer2008 said...

According to the LA Times March Sales Figures, only 4 more sales of SFRs for the second straight month in MDR. Not good...

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