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Monique Carrabba - The Carrabba Group's Blog

By Monique & Joe Carrabba | Agent in Los Angeles, CA
  • Miracle Mile Sales Up for 2010

    Posted Under: Market Conditions in Miracle Mile, Home Buying in Miracle Mile, Home Selling in Miracle Mile  |  September 9, 2010 4:33 PM  |  509 views  |  No comments

    So you think the market is down in Los Angeles’ Miracle Mile? The stats are in and things are looking up.

    In July 2009, the volume (total amount of sales) was $14,836,240 per the CLAWMLS. 

    For the same period in July 2010 the volume was $15,339,000.

    Up, not by much but still up. People continue to love the Miracle Mile! Further the average sales price for July 2009 was $812,000 in July 2010 it was $971,000. 

    With The Grove and all the great retail in Los Angeles around the Miracle Mile it’s not a surprise even though prices have declined in other areas they remain strong and show signs of improving in LA’s Miracle Mile.

    Monique Carrabba
    The Carrabba Group
    Keller Williams Hollywood Hills
    P: (323) 899-2900
    mcarrabba@kw.com
    www.TheCarrabbaGroup.com

  • Miracle Mile Housing Market Shows Signs of Stabilization

    Posted Under: Market Conditions in Miracle Mile  |  April 9, 2010 7:25 PM  |  263 views  |  2 comments

    Things are moving in the Miracle Mile area of Los Angeles. Sales statistics are in for March 2009. For Single Family Homes the total amount of sales volume for March 2010 was $12,452,350. In March 2009 it was only $5,855,000. For March 2009 the Median home price in the Miracle Mile was $930,000. For March 2010 it was $865,000. The average days on market for homes that sold was 45 days and the total number of sales for the month of March was 11 for the area. In contrast there were only 5 sales in March of 2009.


    The statistics provided by CLAW MLS indicate that values are down about 10% from last year but sales are up over 50%. People are buying homes!

     

    At the close of March 2010 there were 93 listings on the market with an average days on market of 70 days for active listings. That represents inventory of about 8.5 months. In 2009 the average days on market for a home in the Miracle Mile was 123 days with 125 active listings. At that rate it would take about 24 months to sell all of the homes! Things are improving for both homebuyers and sellers. At the moment it’s looking like a more balanced market and shows signs of stabilization.


    Monique Carrabba

    The Carrabba Group

    Keller Williams Hollywood Hills

    P: (323) 899-2900

    mcarrabba@kw.com
    www.TheCarrabbaGroup.com

 
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