The battle at $1.5 million is on!
Depending on who you ask there are about 9 homes listed in tiny El Segundo for ~$1.5 mil. Let’s see who says Uncle first.
Other than the Retail/residential on Richmond St there are a lot of similarities. They average 2600 square feet and most were built on the 1950s. Seven of the nine are on over-sized lots but there is some pretty significant pricing differences.
The “cheapest” is priced at $509 sq/ft while the “most expensive” is $706 sq/ft. Someone is very wrong. Even the most expensive at 1211 E Acacia has lots of modern updates but it comes at the expense of ZERO back yard and still shows it’s 1990s updates.
Want to know the most glaring detail? Average days on market is 116, Some are in the 200+ days with only three properties being under 50 days.
Supply and demand. Basic economics will prevail.