Century City Condos | Market Report 1st Quarter 2012

Originally posted on April 17, 2012

How is the Century City condo market faring?  Let’s see how the 1st Qtr of 2012 compares with the same period in 2011.

Century City Condo Market, Century City Real Estate Market Trend

Number sold:  22, a 29.41% increase over the same period last year.

Median Price:  $738,700, a 26.27% increase over the same period last year.

There are 76 active listings and with an average sale of 7.33 per month over the past 3 months the absorption rate is 10.37.  This means it will take that long to sell the existing inventory based on the previous average.

A balanced market is a six months absorption rate.  Anything more points to a buyers’ market.

The Century is a factor in these figures, the MLS shows 23 of the units in this building, some of which are shown as having been on the market for almost 2 years.  If we take out The Century, the absorption rate is 8.85 months.  A little better, but still a buyers’ market.

However, the median price and number of sales is up.  It will be interesting to see what happens in the next Quarter of 2012.

Century City Condos for Sale

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One Comment

  1. Jane, you have some great information to share with Century City condo residents as well as potential buyers. Easy to digest too.

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