It will be interesting to see what the trend forÂ WestwoodÂ homes for saleÂ was over the past year and compare with the previous year.
SINGLE FAMILY HOMES
TheÂ median sold price is upÂ 64% in January 2013 over the previous January and theÂ median for sale priceÂ isÂ upÂ 22%
Only 2Â homes soldÂ in January aÂ dropÂ of 78%, and the number ofÂ homes under contractÂ droppedÂ 25%.
Westwood homes for saleÂ per month has beenÂ dropping steadilyÂ to 54% less than January 2012. Â And the number ofÂ new homes coming on the marketÂ on a monthly basis isÂ downÂ 47%.
TheÂ months supply of inventoryÂ isÂ downÂ 54%.
Average days on the marketÂ is strangelyÂ upÂ 46% over January 2012, butÂ downÂ 56% from the high in August.
TheÂ median sold priceÂ for condos isÂ downÂ 13% with theÂ median for sale price upÂ 8%.
The number if condos soldÂ isÂ downÂ 38%. Â The number ofÂ condos under contractÂ isÂ downÂ 21%.
Westwood condos for saleÂ on a monthly basis hasÂ droppedÂ 35% but is up 23% over the lowest month, December.
TheÂ months supply of inventoryÂ isÂ downÂ 25% over the previous January.
Average days on the marketÂ isÂ downÂ 30%.
The above statistics show everythingÂ in favor of the Westwood home seller. Â The median condo price is down, but that could be the result of the settling of the higher end market.
For more information on how I can best serve yourÂ Los Angeles real estateÂ needs, donâ€™t hesitate to fill out theÂ contact formÂ or give me a call atÂ 310-473-6919.