Brentwood Real Estate Market Report October 2012

Brentwood Market Reports / By /

Let’s check in on the Brentwood Los Angeles real estate market and see how it is doing in the period of low inventory and rising prices.  OCTOBER BRENTWOOD SINGLE FAMILY MARKET REPORT

# Homes List/Sales Price
 For sale  68 $999,800 to $18,900,000
 Under contract  36 $749,000 to $12,900,000
 Sold  19 $925,000 to $5,500,000
 October sold median price $1,501,000
COMPARISON TO SEPTEMBER
 For sale +13
 Under contract +28
 Sold =
 Sold median price -15.70%
MARKET ABSORPTION
Market history 1 month 3 months 6 months 12 months
Closed transactions  19 64 143 236
Average sold per month 19.00 21.33 23.83 19.67
Homes currently for sale  68 68 68 68
Months supply on the market  3.58 3.19 2.85 3.46

Brentwood single family home sales remained steady in October.  The same number sold as in the previous month.  The median price was down, but the number of new homes coming on the market and the number of pending sales rose healthily.  Inventory is still low and the Brentwood real estate market favors sellers.

 

Sellers Market Balanced Market Buyers’ Market
Less than 5 months 5 to 7 months More than 7 months

 

OCTOBER BRENTWOOD CONDO MARKET REPORT
# Homes List/Sales Price
 For sale  36 $409,000 to $2,400,000
 Under contract  33 $330,000 to $1,250,000
 Sold  11 $307,100 to $975,000
 October sold median price $732,700
COMPARISON TO SEPTEMBER
 For sale +10
 Under contract +17
 Sold -3
 Sold median price +24.82%
MARKET ABSORPTION
Market history 1 month 3 months 6 months 12 months
Closed transactions 11 41 90 157
Average sold per month 11.00 13.67 15.00 13.08
Homes currently for sale  36 36 36 36
Months supply on the market  3.27 2.63 2.40 2.60

 

As with the single family market, the Brentwood condo market belongs to sellers.  The sales in October dropped slightly over the previous month but new listings and pending sales are up.

Previous market reports

Brentwood 2rd Qtr Market Report 2012
Brentwood Real Estate Half-Year Market Report June 2012

Homes for sale in Brentwood

(sample listings)

Single Family Single Family
Condo Condo
Rental Rental
Land Land
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