Westwood Housing Market Report 2011

When buying or selling property in Westwood you may want to check out how the market did in 2011.

Single family homes in Westwood have been split into price range.  The Westwood condo market will include Wilshire Corridor condos, already the subject of a previous market report.Search Homes for Sale in Westwood-Century City, Wilshire Corridor Condos for Sale and Lease

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.

Westwood Housing Market Report 2011

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.

Westwood Housing Market Report 2011 | Single Family between $2-5MWith only 5 active listings, the sellers of Westwood homes between $2-5M can expect a fast sale, with little difference over 2010’s figures.

Westwood Luxury Housing Report 2011The 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.

Westwood Housing Market Report 2011 | CondosThe Westwood condo market has moved  slightly towards a sellers’ market and is fairly healthy.  The median price is down some, but number of sales and price per sq. ft. is up.

Previous Reports

Buying or Selling Westwood Los Angeles Real Estate – Check out the Market

 

  1. 4 beds, 1 full, 2 part baths
    Home size: 1,974 sq ft
    Lot size: 6,593 sqft
    Year built: 1940
    Days on market: 17
  2. 3 beds, 2 full, 2 part baths
    Home size: 3,818 sq ft
    Lot size: 14,394 sqft
    Year built: 1936
    Parking spots: 8
    Days on market: 20
  3. 3 beds, 3 full baths
    Home size: 2,257 sq ft
    Lot size: 6,500 sqft
    Year built: 1924
    Days on market: 21
  4. 4 beds, 3 full, 1 part baths
    Home size: 2,700 sq ft
    Lot size: 5,903 sqft
    Year built: 1940
    Days on market: 24
  5. 6 beds, 9 full, 1 part baths
    Home size: 5,420 sq ft
    Lot size: 1.12 ac
    Year built: 1946
    Days on market: 32
  6. 3 beds, 2 full baths
    Home size: 1,752 sq ft
    Lot size: 6,019 sqft
    Year built: 1926
    Days on market: 36
  7. 3 beds, 2 full, 1 part baths
    Home size: 2,852 sq ft
    Lot size: 7,383 sqft
    Year built: 1938
    Parking spots: 4
    Days on market: 43
  8. 3 beds, 1 full, 2 part baths
    Home size: 2,848 sq ft
    Lot size: 9,746 sqft
    Year built: 1949
    Parking spots: 2
    Days on market: 47
  9. 5 beds, 5 full baths
    Home size: 4,999 sq ft
    Lot size: 12,937 sqft
    Year built: 1940
    Days on market: 49
  10. 6 beds, 4 full, 1 part baths
    Home size: 5,070 sq ft
    Lot size: 10,374 sqft
    Year built: 1936
    Days on market: 57
  11. 4 beds, 2 full, 3 part baths
    Home size: 4,035 sq ft
    Lot size: 10,856 sqft
    Year built: 1927
    Days on market: 91

See all Westwood Homes for Sale.
(all data current as of 5/26/2015)

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!

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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.

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