It wasn’t long ago that homes that came up for sale in Fusion didn’t last long. Sometimes things were overpriced and didn’t sell immediately but anything priced right…sold quickly.
So is the fact that two homes have now been on the market a while an indication that the market is slowing?
In our opinion it definitely indicates a cooling in Fusion. Although the time of year and weather (hard to believe that weather might be a factor in Los Angeles!) have played a role in dampening (litterally) buyers moods to go and look at homes, that’s only a small part of the situation.
Of the two current listings, the home home at 5406 W 149th Place Unit#18 is now close to 2 full months on the market at 52 days (as of 3/1) That’s a long time compared with 2018 that saw an average of only 11 days on market! It’s a “C” floorplan which makes it a little hard to guage price (no C units have sold in quite a while) but at $735,000 it’s not too far out of line.
The other home currently on the market is an “E” floorplan at 5403 W 149th Pl # 4 that’s currently listed at $799,000. It’s a beautiful unit with upgrades throughout, custom paint, hardwood floors, and a interior location. This was certainly one of the high demand floorplans of the past few years so the fact that it’s now been on the market for 44 days is again surprising. Given that the last E unit sold at $825,000 and the last “F” unit (fairly similar) sold at $805,000, the home at 5403 #4 currently priced at $799,000 is not priced out of line.