Thursday, January 1, 2009

Pacific Palisades Meltdowns

1818 Palisades Dr., 90272
2+2.5, 1951 sqft, 5724 sqft lot, YB 1978, Sold for $740K on 11/7/08

1678 Palisades Dr., 90272
2+3, 1998 sqft, 3990 sqft lot, YB 1978, Sold for $880K on 8/20/08


Same street, Slightly smaller house, Larger lot, Sold for $140,000 less in about 2.5 months.

3 comments:

Anonymous said...

16850 Calle De Sarah (PP) 5697 sq. ft; listed 8/08 for $3,599,000 sold 12/11/08 for $2,200,000 or $386 per sq. ft

latesummer2009 said...

That is an amazing million dollar meltdown.

5,697 sqft House (5br+4.5ba)
14,266 sqft Lot
Built in 1995

Sales History:

2/25/99 - $1,375,000
7/10/07 - $3,320,000
12/11/08 - $2,200,000

33.8% Price Decline in 17 months.

2003-2004 pricing.....

latesummer2009 said...

Latest from Melissa Data for January, 2009 (YOY)

Total Sales Volume $15,092,000 (-53.7%)
Average Sales Price $2,156,000 (-14.2%)

Market Leader #8 to the downside..