Culver City Market Report – Third Quarter

Originally posted on October 17, 2009

Based on the Culver City Third Quarter Market Report, the median home prices have fallen 6%.


The number of sold homes in Culver City has dropped 20%.


The properties on the market in any given month where a buyer could have written a first position offer to purchase it at any time during that month. Different from Months Supply of Inventory below. The number has increased 3%.


The number of properties going into contract on any given month shows the sales activity. This has increased 100%.


The Culver City Third Quarter Market Report, shows a drop of 28% in the number of new properties coming on the market in any given month. The shortage of inventory should lead to an increase in home prices.


This measures the speed of the market on a monthly basis. All the Days on the Market are added up and then divided by the number of properties involved to arrive at the figure.


These figures show how long it would take to sell the present inventory based on the present monthly sale rate. The number of properties on sale on the last day of the month is the remaining inventory. This figure is divided by current sales rate for the month as determined by the number of properties going under contract. This shows buyer actitivity. Some calculations take into account the number of closed sales in a month. The figure has decreased 84.0%


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