If you’ll remember, I suggested back in March that 2017 was going to be a great year for the Westside market. So far, I have not been disappointed. In fact, despite a steady rise in single-family home prices across the area, sales are still rising as well.
2nd Quarter Statistics
Here are some statistics of the Westside market from April to June of this year to show you what I mean:
- Number of Sales for Brentwood Single Family Homes – up 10% year over year
- Number of Sales for Brentwood Condos – up 96.7% over the first quarter
- Century City Median Price of Single Family Homes – up 7.4% over the first quarter
- Number of Sales for Century City Condos – up 80% year over year
- Malibu Median Sales Price of Single Family Homes – up 12.7% year over year
- Santa Monica Median Sales Price of Single Family Homes – up 10.5% year over year
- Pacific Palisades Median Sales Price of Single Family Homes – up 20.8% year over year
- Pacific Palisades Median Sales Price of Condos – up 26.2% year over year
What This Means For You
All in all, all of LA County saw heavy sales volume and the Westside market saw increasing prices as well. In fact, the number of sales is the highest it has been in 14 years. Due to the limited number of houses on the market, the time to close has also decreased significantly. These two facts together have a great impact on buyers and sellers.
For sellers, it means that now is a great time to sell your home. You can get top dollar without a lot of effort on your part. For buyers, it means that when you find the home you want, you need to be ready to move quickly.
Whether you are a buyer or a seller, please contact me for all your real estate needs. With my experience in this area and the Westside market, I can help my sellers choose the right bid and can help my buyers create a bid that will be chosen. Give me a call today!