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Westwood Real Estate, The Year in Review

Posted by janepeters on January 17, 2013
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Like most areas of Los Angeles, the Westwood neighborhood is suffering from low inventory, especially in the single family market.  Home to UCLA, it is a desirable place to live so it will be interesting to see how Westwood real estate fared in 2012.

 

Westwood real estate the year in review

 

Westwood single family home sales

Sold +/- 2011 Range Median +/- 2011 Active Range Median Pending
105  +39 $855,000 to $13,750,000 $1,580,000 -4.53% 8 $1,039,000 to $18,500,000 $1,652,000 5

Westwood condo sales 

These statistics include Wilshire Corridor condos which are also covered separately in a separate report.

Sold +/- 2011 Range Median +/- 2011 Active Range Median Pending
286 +58 $169,230 to $6,550,000 $539,500 +5.78% 88 $309,900 to $11,995,000 $864,000 36

 

Sellers Market Balanced Market Buyers’ Market
Less than 5 months 5 to 7 months More than 7 months

 

Information provided by MLS/CLAW deemed accurate but not guaranteed

Westwood real estate sales are up in both categories by a fairly healthy amount.  The median price is down slightly for single family sales and up slightly for condo sales.  Not a significant change either way.

There are only 8 single family homes available for sale at this time which makes that market significantly favor Westwood home sellers.  The condo market is a little more balanced but still in the sellers’ corner.

Let’s hope that we some fresh inventory on the market soon.

Previous Westwood Market Reports

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

[idx-listings linkid=”167944″ count=”15″ showlargerphotos=”true”]
 

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