The MLS/CLAW covers both areas together, so the report below will combine them.
Absorption rate is the number of months it will take the current inventory to sell, based on the average number of homes sold each month. Sixmonths is a balanced market, above six months favors buyers and below six months favors sellers.
Primarily a single family market, the Palms and Mar Vista is heavily a seller’s market. Sales are up and the median price is only down slightly over the previous year.
The Palms and Mar Vista condo market is also a sellers’ market with sales up significantly over the previous year.
There are always buyers for Palms and Mar Vista homes, so sellers who are on the fence, this is a great time to put your home on the market.