4510 N Placita Camaleon, in Cat 10 and just 15 days on the market, went to contract yesterday listed at $899,000 ($290/sf). That makes 2 under contract in Cat 10, the other is at $890,000 ($227/sf).
And that’s good news. But neither of them make a dent in the growing inventory of homes for sale in Cat 10 at a million and up.
There are 18 for sale, 1 at $799,000 and 17 from $1,000,000 to $2,650,000 >average list - $1,669,556/median - $1,599,500/$330/sf
And to make matters worse, the last time a home sold for a million or more in Cat 10 was February 2008. It was a biggie and sold for $2,900,000 ($465/sf) - and is now for sale for $2,650,000 - and has been for more than 1 year.
Details, details;
3 sold in the last 6 months, at: $587,500 ($200/sf), $755,000 ($260/sf) and $995,000 ($168/sf). And if we include all of 2009 there was one other sale in Cat 10, for $640,000 ($268/sf)
The averages; average sold - $744,375/median - $697,500/$224/sf
I represented the buyers of the $587,500 & $995,000 sales, both of which were priced much higher when they started out, but neither of which sold until they got to a price where buyers felt they were getting good value for their money.
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