Westwood Real Estate Half Yearly Market Report, June 2012

Let’s see how the Westwood single family real estate market fared over the first half of 2012.

Westwood Market Report June 2012

The numbers are taken from the MLS/CLAW and are deemed reliable but not guaranteed.

Since it is difficult to separate out Wilshire Corridor condos and they form approximately half of the activity in Westwood, condos are omitted from this report.

Number Sold:  43.  This is a 30% increase over the same period in 2011

Median Price:  $1,450000.  This is a $14.7% decrease from the same period in 2011.

The sold vs list price has increased around 4%.

19 units are under contract

There are 24 active listings and with an average sale of 7.16 homes per month over the past 6 months, this means that there is an absorption rate of 3.35.  This means, it will take 3.35 months to sell the existing inventory based on the average monthly sales.

A balanced market is 6 months.  Anything less trends towards a sellers’ market.

Westwood home sellers , now is a great time to put your properties on the market.  There are anxious buyers out there looking for new inventory which, like in many other Los Angeles neighborhoods is in short supply.

Westwood Single Family Homes for Sale

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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.

Westside Los Angeles Real Estate, including, but not limited to:

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919. You may also request a Market Snapshot of your area of interest.

Jane Peters

Jane Peters is a Los Angeles Realtor®, specializing in absentee owners, out-of-town-buyers and those needing that extra personal touch to make the buying and selling of Los Angeles real estate a smooth and, believe it or not, fun process.

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