Your monthly update on the Westwood real estate market – September 2018, compared with September 2017.
The average price of single family homes sold compared with the list price increased slightly, the same applies to condos. This indicates that, overall homes were priced reasonably well.
Less than 5 months = sellers’ market | 5 to 7 months = stable market | Over 7 months = buyers’ market
The inventory for single family homes has moved that market to favor buyers from a stable market last year. Condos moved in the opposite direction.
When looking at the Westwood condo market it includes the luxury market of the Wilshire Corridor, 67 of the current 99 active listings and 9 of the sold listings are on the Corridor. Alone, the median price for the Wilshire Corridor September sold listings is $1,526,000.
There has been no dramatic change in the Westwood real estate market over the past year.
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