Rent vs Buy in 91362>Question Details

Carysguy, Home Buyer in 91362

I am looking to buy a house in westlake village ca - what would the average sq/ft price be for a 1978 home?

Asked by Carysguy, 91362 Sun May 23, 2010

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Hi Carysguy,

Hope you're well.

Taking a look at the past 6 months (which is the most applicable to current real estate trends), the MLS lists the following statistics for 1978 homes in Westlake Village:

Active homes (those that are currently available) average $393/sq.ft for an average 2,814 sq.ft. home.

Back-Up homes (those that are currently in escrow) average $339/sq.ft. for an average 2,289 sq.ft. home.

The one pending home (pending homes are homes that are currently in escrow where contingencies have been released) averaged $270/sq.ft. for a 7,000 sq.ft. home (clearly lower $/sq.ft. because of the extra large size of the home).

Finally, sold homes averaged $378/sq.ft. for an average 2,639 sq.ft. home.

The total $/sq.ft. of all these homes is $369/sq.ft. for an average 2,813 sq.ft. home.

Now, keep in mind, these are today's statistics as of May 22, 2014.

And, truly, the bottom line is that all of these statistics will vary quite a bit when you look at the actual condition of the home, it's location, updates, etc.

I'd love to talk more about your needs, so please feel free to contact me anytime to discuss Westlake homes or any others.

Thanks so much, have a great day!

Brian Graver
http://www.BrianGraver.com
0 votes Thank Flag Link Thu May 22, 2014
Hi Carysguy,

Wow, Barry is right, not really enough info to answer the questions. Price per sq ft is going to be affected more by location, location, location than anything else, even though there are mostly good locations in Westlake.

Things that also affect price per sq ft are overall sq ft, price tends to be more per sq foot for a smaller home, more per sq ft for a single story vs a two story. You will also find that of course condition matters.

The bigger question is...do you have someone who can answer specific questions for you yet. There must be a certain home that you are interested in because you know the year of the home. A Realtor will have access to data an be able to, most of them, render an opinion that can be backed up or supported by the data.

If you arent working with a Realtor yet, search around for someone who seems like a good fit for you, through Trulia is a good place to start. You can read the bio's and how they answer questions and "speak" through their writing. If you find one or two that seem compatible with you try emailing one or two of them and see if they seem like a good "fit".

There is someone for everyone and I think the earlier you start looking with a Realtor the better because your questions certainly makes me believe that you havent seen enough homes to begin to get a feel for the value of the one that interests you here. Once you do, price per sq ft alone will not be a compelling factor.

Realtors get paid (usually through our MLS agreement, from the agent listing the home to compensate us part of their commission from the seller, for representing a buyer in a home purchase - some people dont know this, I didnt before I was a Realtor) for selling one client, one home, whether clients have our services and support for three years or three months before they purchase a home.

Why go without this value to assist you. Let me know if I can be one of those Realtors you'd like to see if you are compatible with.
Web Reference: http://www.ConejoLiving.com
0 votes Thank Flag Link Thu Jun 10, 2010
Hello Carysguy,
This is an excellent question -- although ultimately it will be a challenge to give an accurate answer based on the limited information. Having knowledge of the variable factors such as square footage of both the dwelling and lot, location, amenities, condition. time on market, number of similar homes for sale and motivation of a seller will assist a local expert in determining this subjective value. Here's a sample Market Snapshot for Westlake Village homes, showing a range from $200./sf to over $600./sf for houses on the Lake: http://www.marketsnapshot.info/MSReport/RTMSMain.aspx?cnsmr=… I hope this is helpful for you in doing your research.
0 votes Thank Flag Link Sun May 23, 2010
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