When buying or selling property in Westwood you may want to check out how the market did in 2011.
What is Market Absorption?
Market absorption trends show the rate that properties are selling compared with inventory which enables us to see if it is a sellers’ or buyers’ market.
6 months worth of inventory is a balanced market. Under 6 months is a sellers’ market, and anything over 6 months is a buyers’ market.
The Westwood single family home market under $2 million remains a sellers’ market. Inventory is low, and the median price is creeping up. If priced right, a Westwood home seller in the under $2 million range can expect a reasonable fast sale. Buyers are always looking for good new inventory.
The Westwood luxury housing market, homes over $5M definitely favors those buyers willing to take a plunge. There were actually 4 homes sold over the past 3 months to one year, but it has been eliminated from the report in order not to skew the figures too much. That was the Candy Spelling mansion which sold for $85M at 50% of the listing price.
See all Westwood Homes for Sale.
(all data current as of 1/29/2015)
$1,875,000 : 10764 ROCHESTER AVE, Los Angeles3 beds, 1 full, 2 part baths
$3,795,000 : 842 DEVON AVE, Los Angeles4 beds, 3 full, 3 part baths
$2,295,000 : 10792 ROCHESTER AVE, Los Angeles4 beds, 3 full baths
$3,649,000 : 839 Glenmont Avenue, Los Angeles4 beds, 3 full, 1 part baths
$1,495,000 : 1512 PANDORA AVE, Los Angeles3 beds, 1 full, 1 part baths
$2,199,000 : 10607 ROCHESTER AVE, Los Angeles4 beds, 2 full, 1 part baths
$2,795,000 : 875 MALCOLM AVE, Los Angeles5 beds, 4 full baths
$2,195,000 : 10748 LINDBROOK DR, Los Angeles3 beds, 3 full baths
$4,750,000 : 1302 Manning AVE, Los Angeles5 beds, 5 full, 1 part baths
$4,495,000 : 834 DEVON AVE, Los Angeles3 beds, 2 full, 2 part baths
$2,495,000 : 441 DALEHURST AVE, Los Angeles4 beds, 2 full, 2 part baths
$2,775,000 : 10736 LE CONTE AVE, Los Angeles3 beds, 2 full, 1 part baths
$5,295,000 : 376 DALEHURST AVE, Los Angeles4 beds, 5 full, 1 part baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Buying or Selling Los Angeles Real Estate
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, Westwood condominiums, 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 homes
- Silver Lake Real Estate - Silver Lake single homes
- Echo Park Real Estate – Echo Park homes
For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.