North Santa Monica Sales

415 17^th street finally sold on June 15^th for $1,600,000. In December of last year it was listed for $2,245,000. . .17^th street is one of the busier streets north of Montana so it will take a little more of a hit (100K or so) than if it was located on another street. However, I think this presents strong evidence that 8,900 lots once selling for 2.25 will be selling in the 1.5 to 1.6 range within the next 4-6 months.

854 23^rd Street sold in May for $2,800,000. The previous purchase was in April of 2006 for $3,500,000. This is a 20% drop from the 2006 purchase price and that does not include closing costs, carrying costs, taxes, etc.