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Jane Peters' Blog

By Jane Peters | Agent in Los Angeles, CA

Brentwood Real Estate Market Report October 2012

Let’s check in on the Brentwood Los Angeles real estate market and see how it is doing in the period of low inventory and rising prices.


OCTOBER BRENTWOOD SINGLE FAMILY MARKET REPORT


# HomesList/Sales Price
 For sale
 68$999,800 to $18,900,000
 Under contract
 36$749,000 to $12,900,000
 Sold
 19$925,000 to $5,500,000
 October sold median price

$1,501,000
COMPARISON TO SEPTEMBER
 For sale
+13
 Under contract
+28
 Sold
=
 Sold median price
-15.70%%
MARKET ABSORPTION
Market history1 month3 months6 months12 months
Closed transactions 1964143236
Average sold per month19.0021.3323.8319.67
Homes currently for sale 68686868
Months supply on the market 3.583.192.853.46

Brentwood single family home sales remained steady in October.  The same number sold as in the previous month.  The median price was down, but the number of new homes coming on the market and the number of pending sales rose healthily.  Inventory is still low and the Brentwood real estate market favors sellers.

Sellers MarketBalanced MarketBuyers’ Market
Less than 5 months5 to 7 monthsMore than 7 months

 

OCTOBER BRENTWOOD CONDO MARKET REPORT


# HomesList/Sales Price
 For sale
 36$409,000 to $2,400,000
 Under contract
 33$330,000 to $1,250,000
 Sold
 11$307,100 to $975,000
 October sold median price

$732,700
COMPARISON TO SEPTEMBER
 For sale
+10
 Under contract
+17
 Sold
-3
 Sold median price
+24.82%
MARKET ABSORPTION
Market history1 month3 months6 months12 months
Closed transactions114190157
Average sold per month11.0013.6715.0013.08
Homes currently for sale 36363636
Months supply on the market 3.272.632.402.60

As with the single family market, the Brentwood condo market belongs to sellers.  The sales in October dropped slightly over the previous month but new listings and pending sales are up.

Previous market reports

Brentwood 2rd Qtr Market Report 2012
Brentwood Real Estate Half-Year Market Report June 2012

Homes for sale in Brentwood

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Read more: http://www.homejane.com/brentwood-real-estate-market-report-october-2012.html#ixzz2C85Qg9IK

Comments

By Sharon Paxson,  Fri Nov 16 2012, 06:56
HI Jane, Brentwood does have a low absorption rate.
By Jane Peters,  Fri Nov 16 2012, 10:25
Yes, Sharon, it does.
By Yeprem P. Davoodian, M.A.,  Sun Nov 18 2012, 11:49
Thanks for the information Jane.
By Jane Peters,  Sun Nov 18 2012, 14:02
You are most welcome.
 
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