“Pitifully Low Inventory” Great News for L.A. Home Sellers

Originally posted on January 15, 2014

An article in yesterday’s Los Angeles Times talked about the “pitifully low inventory” in the Southern California real estate market. It also addressed the fact the prices are up and there are a lot of hungry buyers still out there.Los Angeles homes for sale needed desperately

So, if you are thinking of selling your Los Angeles home, now is the perfect time.  There is no guarantee that prices will continue to rise or that the buyer pool will stick around much longer. Interest rates are still low but we don’t know what’s around the corner.

Here are some examples of how low the inventory really is, based on sold homes over the past six months. Bear in mind that 1-4 months inventory is a strong sellers market:

Santa Monica
Single Family:  Sold 126.  Active 40.  Less than 2 months inventory
Condos:  Sold 229.  Active 71.  Less than 2 months inventory

Santa Monica homes for sale

Beverly Hills
Single Family:  Sold 83. Active 56 = 4 months inventory
Condos:  Sold 52. Active 34. Less than 4 months inventory

Beverly Hills homes for sale

West Hollywood
Single Family:  Sold 61. Active 21 = 2 months inventory
Condos:  Sold 201. Active 68 = 2 months inventory

West Hollywood homes for sale

Culver City
Single Family:  Sold 121. Active 23. Just over 1 months inventory
Condos:  Sold 117. Active 20. Just over 1  month’s inventory

Culver City homes for sale

Single Family: Sold 39. Active 12.  Less than 2 months inventory

Westwood homes for sale

Single Family: Sold 119. Active 43. Just over 2 months inventory
Condos:  Sold 108. Active 28 = 1.5 months inventory

Brentwood homes for sale

Single Family: Sold 132. Active 26. Just over 1 month’s inventory

Venice homes for sale

Silver Lake/Echo Park
Single Family: Sold 23. Active 10 = 2.6 months inventory

Silver Lake/Echo Park homes for sale

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