San Elijo Hills Analysis

[waiting for bottom]

Updated original post with new data to the right. The tally:
**3 of 7 listings sold at only 7% avg discount (knives).
**4 of 7 not sold – 1 of those 4 now listed 19% lower.
**2008 listings average 22% lower than 2007 listings
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Original Post:

Only reasonably priced house in the $500-$750K range:

1434 Rivercrest, $599K – Sold 1/08 for $615K

Check out the denial club:

1662 Sagewood, $699K – sold 10/08 for $615K
1655 Sagewood, $659K – removed, not sold
1614 Sagewood, $679K – sold 2/08 $613K
1677 Archer, $695K – removed, not sold
1546 Archer, $708K – sold 12/07 for $695K (knife)
1692 Archer, $699K – removed, not sold
1589 Archer, $679K – currenlty listed at $550K

December 2008 Sagewood listings:

1690 Sagewood, $519K – $188 sq/ft
1610 Sagewood, $560K – $190 sq/ft

Both are REO’s.

2007 Sagewood listings averaged $241 sq/ft – making 2008 22% down – sounds about right. Another 10-20% to go IMO.

Nothing on Archer other than the one still listed, 19% lower than last year.

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