July 21, 2008

An Uphill Walk: Sales and Listings in Verdugo Woodlands 91208

Canada Boulevard follows a northward slope up through Verdugo Woodlands, a real uphill workout for walkers. Driving north I can hear my car straining to switch gears. Driving south, I am always reminded of how easy it is to gain too much speed here, and of some terrible accidents along this road.

Metro and the Glendale Beeline have stops along this route, a main thoroughfare between downtown Glendale and its own suburb within a city, Montrose.  Verdugo Woodlands is bordered by Verdugo Park to the south (on the left in this photo) and the Oakmont Country Club to the north.

My random sampling of homes on Redfin here turned up many that sold, or are on the market, for the first time in decades. While it is a difficult time to sell, owners with a lot of equity and a low tax base have an important advantage. The average listing here has been on the market for 84 days and is $396 per sq.ft.

Two recent sales:

1635 Del Valle Avenue
$720,000 (7/3/08)
3 bed/2 bath
1,495 sq.ft.
$481 per sq.ft.

1617 Country Club Drive
$690,000 (6/11/08)
2 bed/2 bath
1,426 sq.ft.
$483 per sq.ft.

Tax records in the following Redfin listings show that sellers have owned these homes since before the 1980s run up in prices:

2975 Santa Rosa Avenue
$689,000
3 bed/1.75 bath
1,685 sq.ft.
$409 per sq.ft.
On Redfin 25 days

1650 Santa Maria Avenue
$999,000 (Originally listed at $1,200,000 in February 2008)
4 bed/2.75 bath
2,611 sq.ft.
$383 per sq.ft.
On Redfin 158 days

1643 Don Carlos Avenue
$1,499,000 (Originally listed at $1,595,000 in May 2008)
4 bed/3 bath
3,242 sq.ft.
$462 per sq.ft.
On Redfin 77 days

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