The Westwood neighborhood of Los Angeles is covered by the 90024 zip code and is the home of U.C.L.A. and the upscale Wilshire Corridor, the latter making up the majority of the condo statistics below.
There is a heavy concentration of apartments, condos, and commercial properties in Westwood, mostly south of Wilshire Blvd., with the exception of Westwood Village. North of Wilshire is mostly more expensive single family housing.
Let’s check out the market for the month of October:
| OCTOBER SINGLE FAMILY MARKET REPORT |
|
|
# Homes |
List/Sales Price |
| For sale |
|
15 |
$1,049,000 to $26,000,000 |
| Under contract |
|
15 |
$994,300 to $3,995,000 |
| Sold |
|
14 |
$1,110,000 to $3,350,000 |
| October sold median price |
|
|
$1,775,000 |
| For sale |
|
+6 |
| Under contract |
|
+8 |
| Sold |
|
+8 |
| Sold median price |
|
+36.80% |
| Market history |
1 month |
3 months |
6 months |
12 months |
| Closed transactions |
20 |
70 |
138 |
282 |
| Average sold per month |
20.00 |
23.33 |
23.00 |
23,50 |
| Homes currently for sale |
84 |
84 |
84 |
84 |
| Months supply on the market |
1.1 |
1.7 |
1.8 |
1.9 |
| WESTWOOD SINGLE FAMILY HOMES A SELLERS’ MARKET |
| Less than 5 months |
5-7 months |
More than 7 months |
| Sellers’ market |
Balanced market |
Buyers’ market |
The number of single family homes sold in October was up by 8 over the previous month, and the sold median price shot up by 37.8% from $1,297,500 to $1,775,000.
The median price of homes listed for sale in October is $1,78,500, but the median price of all active listings is $1,975,000.
With inventory this low, Westwood is an extreme sellers’ market.
| OCTOBER CONDO MARKET REPORT |
|
|
# Homes |
List/Sales Price |
| Condos for sale |
|
84 |
$175,000 to $11,995,000 |
| Condos under contract |
|
51 |
$279,000 to $2,950,000 |
| Condos sold |
|
20 |
$320,000 to $6,550,000 |
| October sold median price |
|
|
$557,200 |
| For sale |
|
+19 |
| Under contract |
|
+25 |
| Sold |
|
-1 |
| Sold median price |
|
+2.71% |
| Market history |
1 month |
3 months |
6 months |
12 months |
| Closed transactions |
20 |
70 |
138 |
282 |
| Average sold per month |
20.00 |
23.33 |
23.00 |
23,50 |
| Homes currently for sale |
84 |
84 |
84 |
84 |
| Months supply on the market |
4.2 |
3.6 |
3.7 |
3.6 |
| WESTWOOD CONDOS A SELLERS’ MARKET |
Westwood condo sales are down by 1 over September, but the median prices is up $2.71% from $542,500 to $557,200.Homes listed for sale in October have a median price of $749,000, but the overall median price is $787,500.The Westwood condo market is a seller’s market, the bulk of the inventory sitting on the higher priced
Wilshire Corridor.Westwood homes for sale
(Samples below)
[idx-listings linkid=”168513″ count=”15″ showlargerphotos=”true”]
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