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Westwood Real Estate Market Report, May 2013

Posted by janepeters on June 3, 2013
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Interest rates are still low and Los Angeles home buyers are scrambling to find homes.  It is such an excellent time be selling real estate.  Homes are going into multiple offers and over asking.  Interest rates are low and buyers are bullish.  Waiting until prices rise more could diminish the affordability factor for these buyers, especially if interests rise too.

 Westwood real estate market report for May 2013

Let’s see if Westwood real estate inventory is increasing.  How are sales?

May 2013

Sold +/- March Median +/- March Active New +/- March Pending +/- March
Single Family 8 +2 $1,632,551 -37.68%% 9 3 -1 10 +7
Condo 22 -7 $706,450 -4.01% 86 36 +14 19 +3

Information provided by MLS/CLAW deemed reliable but not guaranteed

Westwood real estate sales are up  for single family homes and down for condos. The median sales price is down in both categories.   This can change monthly due to the make-up of sales.  If the lower end properties outsell the higher end, then the median price drops.

There are only 8 single family homes available for sale at this time which puts Westwood  into an extreme sellers’ market.  The condo market also remains a sellers’ market.

The Westwood condo market includes the Wilshire Corridor.

Previous Westwood Market Reports

Westwood Real Estate.  First Quarter 2013 in Review
Westwood Homes for Sale.  Let’s Look at the Trend

Westwood Real Estate the Year in Review

Westwood Real Estate Market Report November 2012
Westwood Real Estate Market Report October 2012
Westwood Real Estate Third Quarter Market Report 2012
Westwood Real Estate Half-Yearly Market Report June 2012

Homes for sale in Westwood

 

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