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The LA Real Estate Blog

Stewart Penn - Your Los Angeles Real Estate Connection

By Stewart Penn | Broker in West Hollywood, CA

West Hollywood Condo Report - April 2010

As at April 30, 2010:

Condos For Sale: 188 units. In comparison, there were only 140 units For Sale as at 3/31/2010.

Condos Pending: 2 Units. A month earlier there were 16 units Pending.

Looking For Back-ups: 37 Units. A month earlier there were 23 units Looking For Backup.

It appears as though agents are less confident with their accepted offers and are continuing to market the properties by signaling they are still Looking for Backups.

I think this variance is also attributable to the fact that it's taking longer to remove the loan contingency in deals.

During April 2010:

Average Days on the Market: TBA

Number of Units Sold: 15 condos closed escrow. This is down from previous months closings of 24 units.

Average Days on the Market: TBA

Median Price: TBA

Average List Price: TBA

Average Selling Price: $493,000. This is 12% down from the previous month's average of $558,000.

Lowest Price Condo Sold: $300,000. The previous month's lowest sale was $249,000.

Highest Price Condo Sold: $715,000. The previous month's highest sale was $1,290,000.

Total Sold in Dollars: $7,390,000. This is considerably down from the previous month's sales of $13,380,000.

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