For most of MBC's 2+ years, we've seen very few offerings on The Strand, lot sales included.
When we started to see a minor flurry of Strand offerings over the past 6-7 months, it's safe to say everyone was confused about how to price them.
Consider one successful sale: the brand-new home at 1712 The Strand (3br/4ba,…
For most of MBC's 2+ years, we've seen very few offerings on The Strand, lot sales included.
When we started to see a minor flurry of Strand offerings over the past 6-7 months, it's safe to say everyone was confused about how to price them.
Consider one successful sale: the brand-new home at
1712 The Strand (3br/4ba, 4500 sq. ft.)
(pictured). For a couple of months before it hit the open market, the unofficial price was
$12.5m.
The official start price in late February was
$10.5m, and a buyer came quick.
That buyer also shaved $1.5m more off the top for a sale at
$9.0m. If you count from the unofficial start, that's a $3.5m drop
(-28%). Look to the South End.
204 The Strand, a 3300 sq. ft. lot, began in Nov. 2008 at
$8.2m.
No takers, but when neighboring
208 The Strand became available (same size lot), it sold at
$6.7m to the same folks who took 204. (The final price on 204 is not public, but you can guess.) So your primo lot values down south are barely sub-$7m.
Now head north again.
3404 The Strand (pictured) offered a custom, Spanish-style, 2-building home – dated, but cool – on a 3500 sq. ft. lot.
In November they started at
$7.8m – because, hey,
who knew what to ask? The sale recently closed at
$5.35m, a not-inconsiderable sum, of course, but also $2.45m
(-31%) below that start.
Getting the memo recently:
3216 The Strand, a terribly flawed duplex that is going to have to go for lot value. This one tried at
$7.3m briefly last year, and is newly down to
$5.499m, nearly $2m off the start and probably nearing the right price.
Still in the stratosphere:
1800 The Strand, at
$13.5m, and
3516 The Strand at
$13.999m.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of July 18th, 2024 at 1:25am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.