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.
$5,700,000 : 365 COMSTOCK Avenue, Los Angeles5 beds, 4 full, 1 three-quarter, 1 half baths
$1,625,000 : 1527 MIDVALE Avenue, Los Angeles3 beds, 2 full baths
$3,595,000 : 315 DALEHURST Avenue, Los Angeles5 beds, 4 full, 1 half baths
$6,850,000 : 220 LORING Avenue, Los Angeles3 beds, 1 full, 3 three-quarter, 1 half baths
$3,145,000 : 10535 WYTON Drive, Los Angeles4 beds, 3 full, 1 three-quarter, 1 half baths
$22,850,000 : 355 S MAPLETON Drive, Los Angeles6 beds, 5 full baths
$5,499,500 : 800 GLENMONT Avenue, Los Angeles6 beds, 6 full, 1 half baths
$3,150,000 : 920 WESTHOLME Avenue, Los Angeles5 beds, 2 full, 1 three-quarter, 1 half baths
$6,499,000 : 10401 WYTON Drive, Los Angeles8 beds, 8 full, 1 half baths
$66,650,000 : 143 S MAPLETON Drive, Los Angeles9 beds, 9 full baths
$4,295,000 : 1010 SELBY Avenue, Los Angeles6 beds, 3 full, 2 three-quarter, 1 half baths
$200,000,000 : 594 S MAPLETON Drive, Los Angeles14 beds, 27 full baths
$29,000,000 : 10281 CHARING CROSS Road, Los Angeles5 beds, 6 full baths
$21,000,000 : 660 CLUB VIEW Drive, Los Angeles5 beds, 5 full, 1 half baths
$3,998,000 : 851 DEVON Avenue, Los Angeles5 beds, 5 full, 1 half baths
See all Westwood Homes for Sale.
(all data current as of 2/24/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Buying or Selling Los Angeles Real Estate
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