Palms|Mar Vista Housing Market Report, November 2011

It’s time to take a look at the Palms|Mar Vista housing market.  In our local MLS the two areas are joined and splitting them would not show an accurate picture.

The important figures to look at here are the number of homes sold per month and the existing inventory.  If there is more than six months’ worth of inventory this designates a buyers’ market, less than six months a sellers’ market and around six months it balanced.

Median shows the middle price range, i.e. half the homes sold above that price and half below.

Average days on the market really is not accurate since one house sitting on the market for a while or one selling quickly is going to skew the numbers somewhat.  Unfortunately, the only numbers we get are the average.

So let’s see what’s been happening in the Palms and Mar Vista real estate market to date.

 

Single family homes sales in Palms|Mar Vista are strong, with low inventory and sale price to list price reasonably high.  Days on the market are also excellent.

Palms|Mar Vista condo sales, are also doing well.  The inventory is low and sales to list price close.  Days on the market are also good.

Overall the Palms|Mar Vista real estate market is a healthy one with the median price in both condos and single family remaining fairly steady.

Previous Palms|Mar Vista Market Reports

Palms and Mar Vista Real Estate Market Trends – May 2010

 

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