Monday Morning Market Report – Week Ending 10/4/09

Week ending Oct 4th sales data
Click to see graph

As I study this past week’s activity in the Avondale, Ortega and Riverside real estate  market, the thing that “jumps” out at me is the large number of price reductions. There were 19 price reductions in the past week.

 One of them was incredible. I wrote a post last week about an amazing price reduction on a piece of waterfront property on Woodmere drive. Last week it had been reduced to $675K which I thought was incredible!  It was reduced AGAIN this week to an even more amazing $599K! If anyone is out there reading my blog, PLEASE call me at 904-252-5181 about this property — it’s an amazing value!

There were 12 New Listings this week, one of which stands out as a great value. shirley avenue houseThe property is located in a very desirable little pocket called Fairfax Manor and is priced at only $178,000. The house has 4Br/2Ba’s in just over 1,300 sf and is on a 60 x 125 lot. The asking price is only $132 per square foot and it’s on Shirley Street between Herschel and Woodmere.
A 1,643 SF brick home on Shirley just sold for $190K at the end of September so there’s a “fresh” sale nearby to compare this to!

The next category we have is Closed Sales. We had 4 this week ranging from a 2,105 SF 3BR/2BA house at 1369 Hollywood Ave. that sold for $175K to a 2,064 SF 3Br/2Ba on Post Street that sold for $283K.

Finally, we had 3 Pending sales this week ranging from a 1,424 SF duplex in Riverside at 2577 Haldumar that was listed at $89,900K to an 1,897 SF 3Br/2Ba brick home at 5015 Ortega Blvd. The list price on this house was $339,900. Stay tuned to see what these houses sell for in the weeks to come!

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