By Jeffery Marino
Ever since last May, when the median sale price for a home in Northeast Los Angeles hit the $1 million mark, sellers have been taking the “just under” pricing approach: Put the house on the market for just under $1 million and count on buyer competition to push the price into seven figures.
This strategy clearly worked for the sellers of the following two houses. Both houses are modest in size and amenities; both had asking prices just under $1 million; and both sold for well over $1 million in just six days — the fastest selling pace in NELA in September, the latest data available.
Sold for: $1,225,000
List price: $999,000
Off market in: 6 days
Listed by: Sabina Sarma of Compass
This zen three-bed, two-bath Glassell Park home is nestled in the hills and offers serene canyon and city views, according to the listing description. Its two major selling points are the wrap-around decks and pristinely remodeled kitchen. It sold in less than a week for well over a million dollars, nearly 23% above the asking price.
Sold for: $1,240,000
List Price: $995,000
Off market in: 6 days
Listed by: Jessica Romero of Keller Williams
This charming, three-bed, two-bath Highland Park bungalow came on the market with a fresh coat of paint and some tasteful staging and in less than a week it was sold for $1.24 million, a 25% premium over the asking price.
Related content: Faster pace, higher prices for recent NELA home sales
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Jeffery is a seasoned data journalist and has covered the California real estate market for over a decade.
