Priced too high, these three homes sold for less than their asking prices

2022 August Business Editions More News Real Estate

By Jeffery Marino

It’s hot outside, but in the first week of August, the housing market in Northeast Los Angeles started to cool off. Here are three NELA homes that went for less than the sellers had hoped.

This three-bed, one-bath Highland Park bungalow on N. Avenue 52 is just the type of fixer- upper that buyers were bidding up to more than $1 million earlier this summer. The sellers listed the house for $950,000 on June 6. After 20 days on the market with no bites, they dropped the asking price by $100,000, to $850,000. They finally let go for $765,000, fully $185,000 under the original list — a whopping 24% discount!

Sellers of this three-bed, two-bath pool home  on Argus Dr. in Eagle Rock first listed for $2.2 million in mid-May. After two weeks, they dropped their asking price by $250,000, to $1.950 million. That did the trick, as the home sold for $1.985 million — a $215,000 discount, or 11% off the original asking price.

Although this four-bed, two-bath Atwater home on Glenhurst Avenue had the smallest price drop, it was the most astonishing because homes in Atwater Village have sold for the highest premiums over asking for at least the past several years. The sellers first listed the home for $1.649 million — a price that would have been considered a steal not so long ago. But today’s market just couldn’t bear it. After more than 30 days on the market, it sold for $1.506 million — $143,000 less than the list price, or 9% off the ask.


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