The West Hollywood real estate market is always a hot one, mostly because of its walkability, and no shortage of dining, shopping and nightlife.
Let’s check out how the market did in 2011.
Absorption rate is the number of months it will take to sell the current inventory. 6 months is a balanced market. Over 6 months favors buyers and under six months favors sellers.
West Hollywood is primarily a condo market, so single family homes that come on the market do very well. Sales of single family homes were up significantly in 2011 over the previous year, and the median price was up. West Hollywood home sellers are in an excellent position if they are thinking of putting their properties on the market.
The West Hollywood condo market is also a good market for sellers. The median price is down somewhat, but so are average days on the market.
Overall, the West Hollywood real estate market remains a healthy one.