Home Buying in 90024>Question Details

Verena Robin…, Real Estate Pro in Mammoth Lakes, CA

How is the residential market/level of inventory for SFRs in Westwood? Are properties sitting for long or selling quickly?

Asked by Verena Robinson, Mammoth Lakes, CA Fri Aug 31, 2012

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13
Jeffrey T. Sandorf’s answer
Here are some Westwood stats for the single family market: In 2012 (through September 1) there have been 123 homes sold with an average days on market of 58 days and an average price of $1,445,725. These have sold at about 98% of list price. Comparatively, in all of 2011 there were 150 home sales, on the market for 68 days and an average price of $1,417,687. These sold at 96% of list price.

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:

Jeffrey Sandorf
Amalfi Estates
310.625.4099
jeff@amalfiestates.com
1 vote Thank Flag Link Sat Sep 1, 2012
Verena Robinson,

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
EXP Realty
310.853.9933
0 votes Thank Flag Link Sat Jul 6, 2013
Dear Verena,

Nothing is sitting if it's priced right for the market. We are seeing multiple offers and many of them are "All Cash".
0 votes Thank Flag Link Thu Sep 6, 2012
Average days on the market for homes in most areas of Los Angeles are 55 days. In westwood the average is 58 days and with a drop in inventory of 60% since this same time last year! It's HOT in Cali! For more conversation, please feel free to email me at propertybyruben@gmail.com
0 votes Thank Flag Link Tue Sep 4, 2012
Hi Verena,

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.

Judith Gottesfeld
Gibson International
310-428-6978
0 votes Thank Flag Link Sat Sep 1, 2012
I have multiple offers on everything I list right away, unless is very over priced.
0 votes Thank Flag Link Sat Sep 1, 2012
Hi Verna:

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
katbecker@prula.com
0 votes Thank Flag Link Sat Sep 1, 2012
HI Verena, There are 30 houses currently on the market in Westwood, and 34 in escrow, that should give you a hint of the low inventory. A well priced and in good condition home sells quickley and in some cases with many offers. The market is very hot in Los Angeles, but every micro market is different and to find out just how the market is in Westwood you can go to my website and go to MARKET TRENDS and get a report on 'Days on Market 'and price trends. You can also search for property, if you need further assistance don't hesitate to call, I grew up in Brentwood and worked in Westwood for many years.

Madelaine Kolisnyk, Realtor
310.869.1712 | dre 01377862
http://www.madelainek.com
0 votes Thank Flag Link Sat Sep 1, 2012
I agree with everyone's answer. Inventory is very low all over Southern California. I expect the same in Westwood. If priced right, they sell very quickly with multiple offers
0 votes Thank Flag Link Fri Aug 31, 2012
inventory is low and if properties are priced right, they are sold with multiple offers.
0 votes Thank Flag Link Fri Aug 31, 2012
All over the westside most homes, if priced accurately, can sell within a week or 2. Many, many cash sales and multi-offers. Depends on price point and type of home and school district. Good luck! Call me if you need help. Joann schoemann Realtor John Aaroe Group 310-386-5509 WestsideJo@gmail.com
0 votes Thank Flag Link Fri Aug 31, 2012
Inventory is low
Good homes on good blocks go quickly
if homes are priced correctly they are sold from 30 to 60 days or sooner on the market

victorkaminoff.com
0 votes Thank Flag Link Fri Aug 31, 2012
Westwood, southren ca, right now multiple offers.

Regards,

Lee
0 votes Thank Flag Link Fri Aug 31, 2012
Sorry, missed the zip code. Multiple offers in Westwood, Santa Monica, Brentwood, Marina del Rey.
Flag Fri Aug 31, 2012
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