Westside Condos are Hot Commodities

In the past several years, the Westside has become a great market for those looking to buy and sell luxury condos. I was excited to see the number of “hot” condo markets right here on the Westside during the first quarter of 2017. Let’s take a quick look at the numbers.

Where the Growth Occurred

These numbers come from the Multiple Listing Service (MLS) and show the sales volume of condos and town homes the first quarter of 2017 compared to 2016.

  • Beverlywood +81%
  • Marina Del Rey +73%
  • Playa Del Rey +54%
  • Mar Vista + 40%
  • Culver City +17%
  • Venice +15%
  • Sunset Strip +13%
  • West Hollywood +12%
  • Playa Vista +11%
  • Westwood/Century City +8%

Despite having the smallest growth in sales, the Westwood and Century City area had the most overall condo sales with 119 units sold. During the first quarter of 2016, that number was 116.

What About the Other Areas?

Does this mean that the other areas on the Westside are not great for the condo market? Actually, no. The reason that so many of those markets didn’t see growth or saw negative growth is due to the lack of condos available to be sold.

Nonetheless, there was a decrease in both Santa Monica and Brentwood for the number of units sold. This corresponds to the fact that the number of units for sale was down during the same period of time.

What Does This Mean For You?

This is a great time to sell a condo on the Westside. Whether you are in a market with increased sales, or a market that is slow due to lack of condos for sale, you are likely to find many potential buyers.

I’ve found that more and more people are looking for luxury condo life. They love the ease of maintenance, the amenities, living near the nightlife, and having an instant community. If you are thinking of selling your condo, give me a call. I’d love to help you get the best price.

© 2019 The Raskin Group. 2115 Main Street Santa Monica CA 90405 (310) 867-0173

 

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

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