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 8/30/2014)
$1,499,000 : 1515 Kelton AVE, Los Angeles3 beds, 2 full baths
$2,495,000 : 10307 EASTBORNE AVE, Los Angeles3 beds, 2 full, 1 part baths
$1,750,000 : 949 MALCOLM AVE, Los Angeles2 beds, 2 full baths
$3,999,000 : 765 Westholme Avenue, Los Angeles6 beds, 5 full, 1 part baths
$3,360,000 : 551 S BEVERLY GLEN, Los Angeles6 beds, 4 full, 3 part baths
$2,395,000 : 1507 MIDVALE AVE, Los Angeles3 beds, 3 full, 1 part baths
$3,495,000 : 818 DEVON AVE, Los Angeles3 beds, 3 full, 2 part baths
$4,295,000 : 10428 WYTON DR, Los Angeles5 beds, 5 full, 1 part baths
$1,695,000 : 139 VETERAN AVE, Los Angeles3 beds, 1 full, 1 part baths
$2,649,000 : 1035 WESTHOLME AVE, Los Angeles5 beds, 2 full, 3 part baths
$1,749,000 : 1041 WESTHOLME AVE, Los Angeles3 beds, 2 full, 1 part baths
$2,095,000 : 737 WESTHOLME AVE, Los Angeles4 beds, 3 full, 1 part baths
$1,995,000 : 439 VETERAN AVE, Los Angeles4 beds, 2 full, 3 part baths
$2,195,000 : 10567 WELLWORTH AVE, Los Angeles4 beds, 3 full, 1 part baths
$3,999,000 : 842 DEVON AVE, Los Angeles4 beds, 3 full, 3 part baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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