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Brentwood Area of Los Angeles Housing Market Overview | January 2012

Posted by janepeters on February 14, 2012
| 0

Let’s check in and see how the Brentwood housing market did in January.

Brentwood single family homes under $1 MillionBrentwood Community, Brentwood Homes for Sale

Sold:  2 / +2 over same period last year
Median Price:  $792,500
Active 7:
Absorption rate*:  3.5 months

 

Brentwood condos under $1 Million

Sold:  8 / -1 over same period last year
Median Price:  $484,000 / -13.42% over same period last year
Active:   47
Absorption rate*:  6.02 months

 

Brentwood single family homes $1 to $2 Million

Sold:  6 / +2 over same period last year
Median Price:  $1,450,250 / +5.28% over same period last year
Active:   44
Absorption Rate*:  6.15 months

 

Brentwood Condos $1 to $2 Million

Sold:  0 / -1 over same period last year
Active:  9
Absorption Rate*:  10.84 months

 

Brentwood single family homes $2 to $5 Million

Sold;  2 / -1 over same period last year
Median Price:  $2,312,500 / – 26.64% over same period last year
Active:  30
Absorption Rate*:  6 months

 

Brentwood single family homes over $5 Million

Sold:  1 / +1 over same period last year
Price:  $6,650,000
Active:  13
Absorption Rate*:   26 months


*Absorption rate is the number of months it will take to sell the existing inventory.   6 months is a balanced market, over six months a buyers’ market and under six months a sellers’ market.  The absorption rates above are based on the last six months sales.

With the exception of condos over $1M and single family homes over $5M the Brentwood L.A. housing market favors sellers. The high end luxury market, as in most areas, is the one that is suffering.

Previous Brentwood Los Angeles market reports

Brentwood Los Angeles Real Estate Market Report 2011

Buying or Selling Los Angeles Real Estate

 

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