Westwood Housing Market Overview | January 2012

Westwood Real Estate Market Reports / By /

How is the Westwood real estate market starting out this year?

The January 2012 report is broken down into price ranges and includes the Wilshire Corridor which also has its own report.

Westwood single family homes under $2 Million

Sold:  6 / +3 over same period last year
Median Price:  $1,278,500 / -25.23% over same period last year
Active:  14
Absorption Rate*:  3.5 months

Westwood single family homes $2 to $5 Million

Sold:  3 / +2 over same period last year
Median Price:  $2,808,000 / $2,900,000 was the one sale over same period last year
Active:  9
Absorption Rate*:  4.15 months

Westwood single family homes over $5 Million

Only one home sold over the past 6 months for $10,175,000.
There are two active listings on the market , one for $14,995,000 and one for $21,000.
Average days on the market for these two homes is 76.

Westwood condos under $1 Million

Sold:  19 / +11 over same period last year
Median Price:  $570,000/ +12.32 over same period last year
Active:  84
Absorption Rate*:  4.35 months

Westwood condos $1 to $2 Million

Sold:  1 / = same period last year
Price:  $1,850,000 / + 42.31% over same period last year
Active:  25
Absorption Rate*:  10.14 months

Westwood condos $2 to $5 Million

Sold:  0 / = same period last year
Active:  22
Absorption Rate*:   22 months

Westwood condos over $5 Million

Active:  7
Median Price:  $5,895,000
Average Days on Market:  209

*Absorption rate is the number of months it will take to sell the existing inventory, here based on the past 6 months sales.  6 months is a balanced market, below six months favors sellers, and above six months favors buyers.

Westwood single family home sales under $5 Million are pretty stable with the market favoring sellers.  There is little new, good inventory.  The market over $5 Million is limited.

Westwood condo sales under $1 Million is a sellers’ market. The median price is up over the same period last year.  Over $1 Million Westwood home buyers should be out in force.  This does include Wilshire Corridor condos, where the market is pretty sluggish.

Single Family Single Family
Condo Condo
Rental Rental
Land Land
The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing.
Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share).
All properties are subject to prior sale, changes, or withdrawal.
This site was last updated Apr-17-2025 5:48:07 pm.
Rover IDX
 

Need Help? Have questions? Fill out the CONTACT FORM or call Jane at 310-351-9208

Leave a Comment

Scroll to Top