Before-and-after pics: This Mt. Washington remodel sold for more than $1 million over the asking price

2022 Business Editions Featured June Real Estate

The median price for a home in NELA hit $1.2 million in April as buyers paid 13% above the asking price on average to snag a home. It was the largest average premium over asking on record. 

Of course, averages are pulled up by homes that sell for far more than their asking prices. Case in point: This Mt. Washington remodel was listed for sale at $1.79 million and sold in a flash for $2.955 million. That premium — $1.165 million — is 65% above asking. What’s behind the incredible sale price? According to the listing description, the remodel was led by renowned designer Severine Nenciarini, who brought a modern touch to the home’s high-end finishes without going over-the-top midcentury. We’ll let the before-and-after pics speak for themselves:

Jeffery is a seasoned data journalist and has covered the California real estate market for over a decade.

Jeffery Marino
Jeffery is a seasoned data journalist and has covered the California real estate market for over a decade.

7 thoughts on “Before-and-after pics: This Mt. Washington remodel sold for more than $1 million over the asking price

  1. so what? Asking prices are NOT “binding offers to sell”, so they really do not have any affect on a properties Fair Market Value.

    Buyers determine value, not listing brokers.
    And all that matters are sales comps

    1. I think any realtor would agree with you, that buyers determine value. This looks like a very special house where the asking price probably incited a major bidding war.

      1. “agree”?
        I stated a fact, not an opinion, and “bidding war” or not asking prices are not an indication of any commitment by the sellers to sell at or near said asking price.

        Which was the original point that selling “over asking” is meaningless

        1. You sound pretty worked up over this.

    2. I’m just curious WHO are buying these homes??? I mean, I’ve ALWAYS known NELA was a great place to live. Is it because it’s so close to DTLA?

    3. I’m just curious WHO are buying these homes??? I mean, I’ve ALWAYS known NELA was a great place to live. Is it because it’s so close to DTLA?

  2. I guess it’s fair to say that Mt. Washington and Eagle Rock are no longer the middle-class neighborhoods I found when we moved here 22 years ago. I literally don’t know anyone who could pay $2.95 million (cash, probably) for a house.

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