Inventory remains lower than in the recent past and prices have appreciated slightly.
Please feel free to contact me for further information if you are interested:
Question asked 8/2012. The 2013 real estate market has changed. Westwood is a upscale Westside neighborhood. Drastic reduction of REOs and short sale. Majority of for Sales are standard sales. Interest are under 4.5% and there is a scarcity of housing inventory. Therefore, there is more demand than supply. Homes are not staying on the market for long periods of time. Additional, home reasonable priced are seeing bidding wars. In the last month there is a increase in days on the market because mortgage interest rates went from below 4% to slightly over 4%. To answer question homes are selling quickly.
Gail Mercedes Cole
Westwood has been one of the hottest neighborhoods in L.A. and continues to be. Aside from the convenient location, the 3 elementary schools serving the area are highly rated and coveted by families with school-age children. Nearly every house receives multiple offers now. I have been a Westwood resident for over 25 years.
Feel free to contact me with any other questions you may have.
If the properties are priced appropriately, the sell quickly and with multiple offers. The inventory is very low. The properties that seem to be on the market for long periods of time are either major fixers and overpriced properties.
There are many buyers looking for the Westwood area too.
Please let me know if I may be of any assistance.
All the best,
Kat Becker, Realtor
Prudential California Realty
Madelaine Kolisnyk, Realtor
310.869.1712 | dre 01377862