It is always interesting to see how the Culver City real estate market is doing, especially watching its growth and now that the Expo Line is due to open there next month.
The numbers are taken from the MLS/CLAW and are deemed reliable but not guaranteed. Also, they reflect single family home sales only.
Number sold: 31, a 55% increase over the same period last year.
Median price: $525,000, a 4.68% decrease over the same period last year.
There are currently 33 active listings. So with an average sale of 10.33 homes per month, the absorption rate is 3.19 months, which means that is the time it will take to sell the existing inventory. A stable market is 6 months. Anything below is a sellers’ market.
With only 33 Culver City homes for sale right now, and an absorption rate of 3 months, sellers in the area will do well to consider now as a good time to put their homes on the market. There are buyers out looking.