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Palms Real Estate | Market Overview

Posted by janepeters on October 26, 2012
| 0

It’s been a while since we checked in on Palms  real estate in the city of Los Angeles.

Let's check out the Palms real estate market through September 2012

Palms is a great neighborhood in which to consider buying a home.  It provides easy access to the ocean, Los Angeles International Airport, Culver City, and Westwood, home of UCLA.  Homes are among the more affordable in Los Angeles, with a great school in Clover Avenue Elementary School, a National Blue Ribbon School.

September 2012 Palms Single Family Market Report

 

2012

Median

2011

Median

September

Median

August

Median Active Pending Inventory
30 $640,000 20 $644,940 7 $630,000  5  $665,000  11  7  5.50

 

 

 September 2012 Palms Condo Market Report

 

2012

Median

2011

Median

September

Median

August

Median Active Pending Inventory
47 $362,500 38 $388,500 3 $199,000  7  $390,000  8  6  2.40

 

 

Information taken from MLS/CLAW deemed reliable but not guaranteed.  The area of Palms is combined with Mar Vista in the MLS so separating out the statistics may cause slight inaccuracies in the data.

Sales for both single family homes and condos are up over the same period in 2011.

The median price is down over the same period in 2011 but only by $0.77% for single family homes and 6.69% in the case of condos.  The latter may be an indication of the sale of a few lower-priced condos in September.

Palms continues to be a sellers’ market as shown by the low inventory – under six months.

With mortgage rates low, and buyers out there, now is an excellent time to consider putting your Palms home on the market.  Don’t worry about the time of the year.  Los Angeles real estate is a year-round market.

Homes for Sale in Palms

 

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