How is the Westwood Real Estate Market? September 2016

How is the Westwood real estate market? Below are the stats for the past three months compared with the same period in 2015.

Westwood homes sold

Single family homes sales remain the same. Closed sales are down in the condo category, probably reflecting in part the low activity on the Wilshire Corridor which is included in these data.

Westwood median home price

The median price for single family homes was up over last year in both categories.

Westwood active listings

The number of single family homes listed was down slightly over 2015 while condos on the market were significantly lower.

Westwood months supply of housing inventory

Months supply of inventory denotes the number of months it will take to sell the existing homes on the market: 1-4 months = sellers’ market; 5-7 months = balanced market; over 7 months = buyers’ market.

Single family homes available and condos rose slightly with single family homes being in a more balanced market. Condos slightly favor sellers.

The Westwood real estate market shows no dramatic change from the previous period last year.

Information taken from the MLS InfoSparks© 2016 Showing Time deemed reliable but not guaranteed

 

Homes for sale in Westwood

 

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