Salena Sweet, Other/Just Looking in Los Angeles, CA

what is the average days on market for homes in the 90023 zip?

Asked by Salena Sweet, Los Angeles, CA Tue Jan 4, 2011

the reason I ask this question is to determine if the price of a home changes after a given period of time.

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4
0 votes Thank Flag Link Mon Mar 14, 2011
Hello Salena,

To answer you question about price, is yes price definitely changes with time and lately with the market being slower, prices are usually adjusted if there is no offer activity within 30-40 days of putting it on the market.

I just ran a quick market analysis for 6-12 vs 0-6 months of sales in the area you are referring to for average size and priced homes. The average days on the market has gone from approx 90 (prior 6-12 month sales) down to 45 (prior 0-6 month sales). The average per Sft cost has gone from $170/Sqft to $220/sqft. However, this is just one set of numbers and it is diffucult to derive a concrete conclusion form it, however it does indicate that homes are selling faster and prices are on the upswing.

Please call me if you are trying to answer a more specific question.

Best Regards,
Catherine Bedrossian
Home Sales Pro
(310) 383-4212
catherineb@socalhomefinds.com
http://www.socalhomefinds.com
0 votes Thank Flag Link Tue Jan 4, 2011
The average days on market in 90023 one year ago was 388 days, dropping down to less than 50 days by November 2010. This definitely affects valuation, as prices often reduce based on time on market, and the buyers' perception of the property's staleness. I can give you all of the specific charts and data for 90023 (including properties for sale, sold, days on market, months supply of inventory, etc.) via email, if you contact me below. In addition, I'd be happy to help you interpret the data to your specific situation.
Deborah Bremner
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
(D) 818.564.6591
http://www.thebremnergroup.com/news/
0 votes Thank Flag Link Tue Jan 4, 2011
There are 83 homes from 4/1/2010 to current. These properties range from regular sales,short sales and foreclosures with days on the market from 0 days to as high as 415 days. East Los Angeles is a big area if you can narrow your search I can be more pacific for you..

Thank you
0 votes Thank Flag Link Tue Jan 4, 2011
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