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 12/8/2013)
$2,198,000 : 1254 FAIRBURN AVE, Los Angeles3 beds, 3 full baths
$1,789,000 : 1337 THAYER AVE, Los Angeles3 beds, 3 full baths
$1,299,000 : 1507 MALCOLM AVE, Los Angeles2 beds, 2 full baths
$1,725,000 : 10658 ASHTON AVE, Los Angeles3 beds, 3 full baths
$2,375,000 : 643 WESTHOLME AVE, Los Angeles3 beds, 2 full, 2 part baths
$2,295,000 : 737 WESTHOLME AVE, Los Angeles4 beds, 4 full baths
$1,799,000 : 10448 LINDBROOK DR, Los Angeles4 beds, 3 full baths
$1,699,000 : 10574 OHIO AVE, Los Angeles5 beds, 4 full baths
$1,499,000 : 10748 ASHTON 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
$1,845,000 : 10568 WELLWORTH AVE, Los Angeles5 beds, 4 full baths
$5,495,000 : 868 BIRCHWOOD DR, Los Angeles4 beds, 3 full, 2 part baths
$24,995,000 : 539 S MAPLETON DR, Los Angeles7 beds, 9 full baths
$4,495,000 : 10401 WYTON DR, Los Angeles9 beds, 6 full baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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