Los Angeles Living

It's time to take a look at the Palms|Mar Vista housing market.  In our local MLS the two areas are joined and splitting them would not show an accurate picture.

The important figures to look at here are the number of homes sold per month and the existing inventory.  If there is more than six months' worth of inventory this designates a buyers' market, less than six months a sellers' market and around six months it balanced.

Median shows the middle price range, i.e. half the homes sold above that price and half below.

Average days on the market really is not accurate since one house sitting on the market for a while or one selling quickly is going to skew the numbers somewhat.  Unfortunately, the only numbers we get are the average.

So let's see what's been happening in the Palms and Mar Vista real estate market to date.

Single family homes sales in Palms|Mar Vista are strong, with low inventory and sale price to list price reasonably high.  Days on the market are also excellent.

Palms|Mar Vista condo sales, are also doing well.  The inventory is low and sales to list price close.  Days on the market are also good.

Overall the Palms|Mar Vista real estate market is a healthy one with the median price in both condos and single family remaining fairly steady.

Previous Palms|Mar Vista Market Reports

Palms and Mar Vista Real Estate Market Trends - May 2010

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The Palms and Mar Vista housing report statistics below are taken from the MLS CLAW and are for single family homes only.  They do not include condos, income property, or private sales.

Home sales in Palms and Mar Vista,  show continued growth in May, with buyers taking advantage of the federal tax credit which expired at the end of April, but allowed those under contract to close until June 30th. Also the California home buyers tax credits started on May 1st so many waited to take advantage of both. The number of homes sold was down slightly again over April, but the number of homes under contract was up by 200%. The median price was down slightly and the median sales price vs listed price took another upward spike.  The number of days on the market for homes sold was up slightly. Palms is very much a Seller's market with around 3 months inventory. Another good month for the Palms area of Los Angeles.

Yes, the famous house at 3465 Tilden Ave. Westside Village Palms has sold.

The house went through several offers which failed to come to fruition through no fault of its own, and how has finally found its true owner. 

The seller is extremely happy even after the disappointments of not-so-serious buyers and the new owner, a first-time home buyer is also very happy. 

Typical for the first-time homebuyer, the new owner was overly concerned about minor matters and his agent had to nurture him thoughout the process, as did I, the listing agent. 

When we were ready to fund a glitch came up with the lender and closing was delayed. 

But finally 3465 Tilden Ave., Westside Village Palms has proud new owners with a little one on the way. 

And I will miss the lemons in the backyard.

Properties for sale in Palms

Single Family Open Houses in Palms and Mar Vista,  Sunday, May 9th - 2:00 - 5:00 p.m.

N = New  R = Review  C = Cancelled

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The Palms and Mar Vista housing report statistics below are taken from the MLS CLAW and are for single family homes only.  They do not include condos, income property, or private sales.

Home sales in Palms and Mar Vista,  show a rosy picture for April, probably partly due to the federal home buyers tax credit due to expire at the end of the month.  Althought the number of homes sold was down slightly, the number of homes under contract was up by 23%. The median price was up and the median sales price vs listed price took an upward spike.  Also, the number of days on the market for homes sold was down.   All in all, a good month.

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The Palms - Mar Vista housing statistics below are taken from the MLS/CLAW and are for single family homes only.  They do not include condos, income property, or private sales.

March was not a very good month for the Palms - Mar Vista area of Los Angeles in terms of homes sold.  The number of homes sold was up significantly, but the median price as down and the median list price vs median sold price took a 410% drop.  Days on the market of homes sold was significantly higher and the months supply of inventory is up 83%.  The number of homes under contract is up 75%.

Let's hope this is a blip on the radar and that April and May will show a healthier market.

Search for homes in Palms - Mar Vista

I am looking for a great owner to come an buy me.  I am a home for sale in the Westside Village area of Palms, Los Angeles.

My present owner didn't want to let me go.  I have been in the same family since days one.  But it's time....

I am a 2 bedroom, 2 bathroom house with a lovely, large backyard with avocado, apple, lemon, jacaranda and other trees.  It is really an oasis in the middle of Palms.

My floors are hardwood and all my plumbing is copper.  I have also upgraded my electrical boxes, so you can bring all your  appliances and electronics.

I do need upgrading eventually, because I am a little tired.  After all, I was born in 1941.  But, don't worry, I can handle you for a while.

I will be open on Sunday, April 11th to meet, greet, and show you around.  So please drop by and let me introduce myself.

Where can you find me?  3465 Tilden Avenue.  I will be all dressed up.  You can't miss me.

Oh, and don't pay any attention to the condo building next door.  It does not affect me at all.  I took care of that with some lovely trees which give me the privacy I crave.

Westside Village is an upscale area of Palms,  in the City of Los Angeles.  The boundaries are Sepulveda Blvd. to the East, Overland Ave. to the West, National Blvd. to the North and Charnock Road to the South. It was originally part of Rancho Ballona from which Palms was formed, and was created by developer Fritz R. Burns in 1940 and 1941 who developed around 1,100 single-family houses surrounded by schools, parks, stores and places of worship. It has a population of around 12,000 of which 70% are renters and the balance homeowners. Burns is responsible for the vast number of huge trees in the area as he bought out a local nursery and sold shrubs to homeowners at a discounted price for 25 - 50 cents.

There are currently 13 homes for sale in Westside Village,  the lowest priced is $579,000 and the highest is $1,595,000.  Average days on the market for these homes is 45 days.  The average price is $826,615.

Public schools for the area are:

Clover Avenue Elementary School - Academic Performance Index* (API) for 2008 was 812
Charnock Road Elementary School - API was 722
Palms Middle School - API was 686
Hamilton High School - API was 606

* Out of a possible 1000

Local schools's overall California API is 767, close to meeting the statewide target of 800.

Westside Village  has a mixture of buildings and architectural styles, from multi-family and modern-single family homes to the original 1940 structures.  Despite its proximity to major shopping areas and freeways there is an air of peace and a suburban feel with all the tree-lined streets.

There is an active neighborhood homeowners association with a neighborhood watch.

The Crime Index for the area is 30% lower than the L.A. County Average.

Westside Village  and Palms itself can look foward to continued growth the with the upcoming Metro Expo Line scheduled to pass through Palms from Downtows to Santa Monica.  The exact route has not yet been determined.

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3465 Tilden Avenue

Come visit me at the open house on Sunday, March 21st - 2:00 to 5:00 p.m.

This house is waiting for its new owner.  You can move right in and upgrade in your own time.  The backyard is wonderful and ready for those summer barbecues to come.

Other open houses in the area are below:

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The statistics below cover Palms and Mar Vista home sales and are taken directly from the MLS.  They are for single family homes and do not take into consideration condos, income property or private sales.

There were 11 homes sold in February, 1 more than in January and 1 less than in February '09.

The highest price was $1,765,000 and the lowest was $550,000.

The median sold price was $739,000, against $787,988 in January and $665,500 in February '09.

The average sales price vs. list price was 96.3%, against 96.8% in January, and 93.8% in February '09.

Average days on the market was 10, against 70 in January and 82 in February '09.

The Palms Mar Vista market is looking rosier than last year and has improved slightly over January.