The Westwood CA real estate housing market reports below show the market absorption trend for single family homes in the 90024 and 90025 areas.
What is an absorption rate? This shows the rate at which inventory is being sold and is calculated by the number of homes on the market divided by the number sold in a month. This helps in determining the pricing of homes being put on the market and what kind of market it is. If you have a 10 month selling cycle and want to sell in 5 months you would need to price your home a little lower than the 50% average. Also a 6 months selling cycle is a balanced market. Above that is a buyers’ market and less than 6 months inventory is a sellers’ market
The first report is for homes up to $1.5 million.
The Westwood real estate market below $1.5 million is fairly balanced with a slight leaning towards a buyer’s market.
The Westwoood, CA real estate market, homes over $1.5 million, is very much a buyer’s market. There is 11 months inventory available.