So you are thinking of buying or selling a Westwood Los Angeles home! How is the market doing?
There is no right or wrong time for selling your Los Angeles home. When you want or need to is the right time.
Are you waiting out the market before buying a Los Angeles home? If you are in a position to buy now, have the funds, are pre-approved for a loan, then don’t wait. Prices in the better parts of Los Angeles did not drop as much as the more depressed areas and they are unlikely to drop any further. In fact, prices have started to rise. Mortgage rates are also on their way up. So, it would be wise to seriously consider buying a Los Angeles home.
How is the Westwood Los Angeles real estate market doing?
The Westwood Los Angeles real estate market is showing a strong sellers’ market for single family homes. A balanced market is inventory of up to six months. Below 6 months is a sellers’ market. Above six months is a buyers’ market.
Why? Because little inventory means there is little choice for buyers and sellers have the advantage. The opposite is true when there is too much inventory.
Months supply of inventory, as shown in the above chart, is presently 1.80. A strong sellers market.
The above chart does not include Wilshire Corridor condo statistics.
The Westwood Los Angeles real estate market for condos is a balanced one. Six months of inventory presently means it is the perfect time for buying or selling a Los Angeles home.
Location Map
- Main MarkerView Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!
When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.
If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.
Westside Los Angeles Real Estate, including, but not limited to:
- Westwood Real Estate – Westwood single family homes, Wilshire Corridor condominiums, Century City condominiums
- Brentwood Real Estate – Brentwood single family homes, Brentwood condominiums
- Santa Monica Real Estate – Santa Monica single family homes, Santa Monica condominiums
- Beverly Hills Real Estate - Beverly Hills single family homes, Beverly Hills condominiums
- Culver City Real Estate – Culver City single family homes,
- Palms/Mar Vista Real Estate - Palms/Mar Vista single family homes, Palms/Mar Vista condominiums
- Silver Lake Real Estate - Silver Lake single family homes, Silver Lake condominiums
- Echo Park Real Estate – Echo Park single family homes, Echo Park condominiums
For more information on how I can best serve your Los Angeles real estate needs, please fill out the online contact form or give me a call at 310-473-6919.
Jane Peters knows L.A. Real Estate. Let me do the Work for You!
Hi Jane,
What a fantastic market report for your area of Westwood Los Angeles. Your sellers are very fortunate to have a REALTOR with such in-depth market knowledge of their area.