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 3/7/2014)
$3,900,000 : 774 MALCOLM AVE, Los Angeles5 beds, 6 full baths
$2,049,000 : 10586 OHIO AVE, Los Angeles4 beds, 3 full baths
$1,699,000 : 10718 LINDBROOK DR, Los Angeles3 beds, 3 full baths
$2,695,000 : 10485 LINDBROOK DR, Los Angeles4 beds, 3 full, 1 part baths
$3,250,000 : 10560 WYTON DR, Los Angeles5 beds, 2 full, 2 part baths
$2,198,000 : 1254 FAIRBURN AVE, Los Angeles3 beds, 3 full baths
$2,640,000 : 10588 LINDBROOK DR, Los Angeles3 beds, 3 full, 1 part baths
$24,250,000 : 330 S MAPLETON DR, Los Angeles6 beds, 14 full baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Buying or Selling Los Angeles Real Estate
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