Let’s check in and see how the Brentwood housing market did in January.
Sold: 2 / +2 over same period last year
Median Price: $792,500
Absorption rate*: 3.5 months
Brentwood condos under $1 Million
Sold: 8 / -1 over same period last year
Median Price: $484,000 / -13.42% over same period last year
Absorption rate*: 6.02 months
Brentwood single family homes $1 to $2 Million
Sold: 6 / +2 over same period last year
Median Price: $1,450,250 / +5.28% over same period last year
Absorption Rate*: 6.15 months
Brentwood Condos $1 to $2 Million
Sold: 0 / -1 over same period last year
Absorption Rate*: 10.84 months
Brentwood single family homes $2 to $5 Million
Sold; 2 / -1 over same period last year
Median Price: $2,312,500 / – 26.64% over same period last year
Absorption Rate*: 6 months
Brentwood single family homes over $5 Million
Sold: 1 / +1 over same period last year
Absorption Rate*: 26 months
*Absorption rate is the number of months it will take to sell the existing inventory. 6 months is a balanced market, over six months a buyers’ market and under six months a sellers’ market. The absorption rates above are based on the last six months sales.
With the exception of condos over $1M and single family homes over $5M the Brentwood L.A. housing market favors sellers. The high end luxury market, as in most areas, is the one that is suffering.
Previous Brentwood Los Angeles market reports
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