Westwood Real Estate, First Quarter 2013 in Review

Westwood real estate is still suffering from low inventory, especially in the single family market.  Let’s see how sales for the First Quarter of 2013 compare to the last Quarter of 2012.  Early 2013 was supposed to be on fire…..

Westwood single family home sales

Sold +/- Median +/- Active Median Pending
10  -27 $1,692,500 +2.89% 7 $2,875,000 16

Westwood condo sales 

Sold +/- Median +/- Active Median Pending
55 -18 $550,000 -9.74% 75 $1,100,000 42

 

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

Information provided by MLS/CLAW deemed accurate but not guaranteed

Westwood real estate sales are way down in both categories.  The median price is up slightly for single family sales and down for condo sales.

There are only 7 single family homes available for sale at this time which puts Westwood  into an extreme sellers’ market.  The condo market is a little more balanced but still in the sellers’ corner.

The Westwood condo market includes the Wilshire Corridor which is a unique market in itself.  The majority of Westwood condos for sale are in that market,

Previous Westwood Market Reports

Westwood Real Estate the Year in Review
Westwood Real Estate Market Report November 2012
Westwood Real Estate Market Report October 2012
Westwood Real Estate Third Quarter Market Report 2012
Westwood Real Estate Half-Yearly Market Report June 2012

Homes for sale in Westwood

 

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