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.
$1,599,900 : 1553 Glendon Avenue, Los Angeles2 beds, 1 full, 1 half baths
$2,100,000 : 1515 Glendon Avenue, Los Angeles4 beds, 3 full, 1 half baths
$1,575,000 : 1547 Glendon Avenue, Los Angeles3 beds, 3 full baths
$1,585,000 : 1300 Glendon Avenue, Los Angeles3 beds, 3 full baths
$2,155,000 : 1315 Holmby Avenue, Los Angeles3 beds, 1 full, 1 three-quarter baths
$3,500,000 : 633 Warner Avenue, Los Angeles4 beds, 4 full, 1 half baths
$2,198,000 : 950 Manning Avenue, Los Angeles3 beds, 2 full, 1 half baths
$7,350,000 : 383 South Beverly Glen, Los Angeles6 beds, 6 full, 2 half baths
$1,495,000 : 10833 Wellworth Avenue, Los Angeles3 beds, 2 full baths
$4,650,000 : 540 South Woodruff Avenue, Los Angeles4 beds, 5 full, 1 half baths
$1,888,888 : 10756 Rochester Avenue, Los Angeles3 beds, 2 full baths
$2,395,000 : 10480 Ashton Avenue, Los Angeles4 beds, 3 full baths
$2,995,000 : 10460 Le Conte Avenue, Los Angeles4 beds, 2 full, 1 three-quarter baths
$3,695,000 : 10469 Kinnard Avenue, Los Angeles5 beds, 5 full, 1 half baths
$32,500,000 : 10281 Charing Cross Road, Los Angeles5 beds, 6 full baths
See all Westwood Homes for Sale.
(all data current as of 2/7/2016)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Buying or Selling Los Angeles Real Estate
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