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.
$1,499,000 : 10732 Rochester Avenue, Los Angeles2 beds, 1 full, 1 part baths
$2,995,000 : 488 Dalehurst Avenue, Los Angeles4 beds, 4 full baths
$2,495,000 : 1501 Comstock Avenue, Los Angeles5 beds, 3 full baths
$3,400,000 : 10633 Le Conte Avenue, Los Angeles5 beds, 3 full baths
$39,900,000 : 10281 Charing Cross Road, Los Angeles5 beds, 6 full baths
$6,275,000 : 10571 Wyton Drive, Los Angeles4 beds, 4 full, 1 part baths
$3,449,000 : 936 Thayer Avenue, Los Angeles4 beds, 4 full, 2 part baths
$2,099,000 : 1362 Woodruff Avenue, Los Angeles4 beds, 2 full, 1 part baths
$1,749,000 : 1410 Thayer Avenue, Los Angeles2 beds, 2 full baths
$2,550,000 : 10797 Lindbrook Drive, Los Angeles4 beds, 3 full, 1 part baths
$2,175,000 : 10573 Rochester Avenue, Los Angeles4 beds, 1 full, 2 part baths
$16,995,000 : 100 South Mapleton Drive, Los Angeles5 beds, 8 full baths
$2,199,000 : 1445 Crestview Court, Los Angeles4 beds, 4 full, 1 part baths
$1,975,000 : 1250 Westholme Avenue, Los Angeles3 beds, 2 full, 2 part baths
$2,750,000 : 1336 Thayer Avenue, Los Angeles4 beds, 3 full, 2 part baths
See all Westwood Homes for Sale.
(all data current as of 10/10/2015)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Buying or Selling Los Angeles Real Estate
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