If you have any doubt about how low the housing inventory has become in Los Angeles, here are some data broken down by area, property type, and comparison against the height of the market over the past three years:
Community
- Los Angeles County
- Single Family
- Condos
- Beverly Hills
- Single Family
- Condos
- Santa Monica
- Single Family
- Condos
- Culver City
- Single Family
- Condos
- West Hollywood
- Single Family
- Condos
- Malibu
- Single Family
- Condos
Height of Market
- Jan 2012 – 22,795
- Jan 2012 – 7,591
- Jul 2012 – 252
- Apr 2012 – 79
- Feb 2012 – 90
- Jun 2012 – 131
- Jan 2012 – 46
- Jun 2012 – 47
- Jan 2012 – 41
- Jan 2012 – 162
- Feb 2012 – 338
- Jul 2012 – 57
As you can see, inventory is down significantly from three years ago which was still the heart of the sellers’ market.
Santa Monica, Culver City, and West Hollywood are all suffering from low inventory which favors sellers.
Even though inventory is down, Malibu is still a buyers’ market, and Beverly Hills is bordering on a buyers’ market.
Interest rates remain low, so if you have a reason to sell, don’t hesitate.
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