Tony's Market Insights
Just one home was sold in Outpost Estates in September. 2422 Carman Crest Drive closed at $1,595,000 after 84 days on the market. Originally listed at $1,795,000, the sale reflects what we're seeing for homes that need work and come to market above buyer expectations.
At the same time, three homes are in escrow. The standout is 2525 Outpost Drive, which received a full-price offer at $5.3 million within five days of listing. Based on the strength of the property, it could have gone higher if not for Measure ULA, which continues to influence pricing psychology in this tier. Meanwhile, 7020 La Presa Drive entered escrow after 47 days, last listed at $4,495,000. 2247 Chelan Place is now under contract as well, with a final asking price of $2,885,000. It was originally listed at $3,995,000 before being pulled from the market and reintroduced at auction pricing.
September also brought a surge of new inventory, with six new listings and one property returning to market. The most high-profile addition is the David Lynch Estate at 7017 Senalda Drive, listed at $15 million. Also back on the market is 7040 Hillside Avenue, which returned to the market after falling out of escrow.
As of this writing, there are 16 active listings in Outpost Estates. This is the highest inventory level we've seen all year, and a key signal that pricing, presentation, and differentiation are more important than ever.