Los Angeles Living

Is your child attending, or about to attend UCLA, one of the world’s top universities?  Are you wondering where your baby is going to live?  For ease, comfort and added security, buying a Los Angeles condo may be a good option.

Renting a condo in Los Angeles, can be a daunting task.  You are not sure about the area, rentals are expensive, and you are concerned about safety.  Also, when you come into town to visit  it would be great to have somewhere to stay.

Buying a condo in Los Angeles near UCLA makes a lot of sense.  The market is at or near bottom right now, and mortgage interest rates are low.  In three or four years appreciation should take hold and you will get your money back and maybe even make a profit.

In which Los Angeles areas should I consider buying?

Areas easily accessible to UCLA include Westwood, Century City, Brentwood, and Santa Monica.

How much will I have to pay for a Los Angeles condo?

Depending on the area, you could effectively find a nice condo from the mid $400,000 to low $700,000s.  You do have to take into consideration the Homeowners Association dues which can run from the mid $200s to high $400s and up.  This would exclude the Wilshire Corridor where HOA dues can run as high into the high teens for a medium-priced unit.

But overall, buying a condo in Los Angeles could make sense for the four or more years your child will be attending UCLA.

Map of UCLA

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Find condos for sale in Westwood

If you are considering buying or selling Westwood Los Angeles real estate, knowing how the market did in January is a good place to start.

Median price is used for list when a $150,000 listing skews the figures

The Westwood real estate market for single family homes in January remained steady.

Compared with December 2010 there was a drop in Westwood homes sold and average sales price, but the average days on the market dropped significantly.

If you are thinking of selling your Westwood home, with 4.06 months of inventory there is pent-up buyer demand.  Price it right and you will sell quickly.

These statistics do not include the Wilshire Corridor which is reported separately

The market for condos is pretty stagnant.

Compared with December 2010 Westwood condo sales were down significantly, and average days on the market way up.

With 8.37 months of inventory, Westwood condo buyers, this is your market.

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Buying or Selling Westwood Los Angeles Real Estate – Check Out the Market

Map of Westwood CA

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Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

Westside Los Angeles Real Estate, including, but not limited to:

• Westwood Real Estate – Westwood single family homes, Westwood condominiums, Wilshire Corridor condominiums, Century City condominiums
• Brentwood Real Estate – Brentwood single family homes, Brentwood condominiums
• Santa Monica Real Estate – Santa Monica single family homes, Santa Monica condominiums
• Beverly Hills Real Estate - Beverly Hills single family homes, Beverly Hills condominiums
• Culver City Real Estate – Culver City single family homes, Culver City condominiums
• Palms/Mar Vista Real Estate - Palms/Mar Vista single family homes, Palms/Mar Vista condominiums
  
• Silver Lake Real Estate - Silver Lake single family homes, Silver Lake condominiums
  
• Echo Park Real Estate – Echo Park single family homes, Echo Park condominiums

For more information on how I can best serve your Los Angeles real estate needs, please fill out the online contact form or give me a call at 310-473-6919.

 

So you are thinking of buying or selling a Westwood Los Angeles home! How is the market doing? There is no right or wrong time for selling your Los Angeles home. When you want or need to is the right time. Are you waiting out the market before buying a Los Angeles home? If you are in a position to buy now, have the funds, are pre-approved for a loan, then don't wait. Prices in the better parts of Los Angeles did not drop as much as the more depressed areas and they are unlikely to drop any further. In fact, prices have started to rise. Mortgage rates are also on their way up. So, it would be wise to seriously consider buying a Los Angeles home. How is the Westwood Los Angeles real estate market doing?

The Westwood Los Angeles real estate market is showing a strong sellers' market for single family homes. A balanced market is inventory of up to six months. Below 6 months is a sellers' market. Above six months is a buyers' market.

Why? Because little inventory means there is little choice for buyers and sellers have the advantage. The opposite is true when there is too much inventory.

Months supply of inventory, as shown in the above chart, is presently 1.80. A strong sellers market.

The above chart does not include Wilshire Corridor condo statistics.

The Westwood Los Angeles real estate market for condos is a balanced one. Six months of inventory presently means it is the perfect time for buying or selling a Los Angeles home.

View Westwood in a larger map

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you're new to L.A. Town. You'll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs! When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available. If you are an absentee owner, you'll need someone to handle all the details that you can't handle remotely. That's where I come in - I'm there when you can't be. I also specialize in lease property in Los Angeles. Westside Los Angeles Real Estate, including, but not limited to:

• Westwood Real Estate - Westwood single family homes, Westwood condominiums, Wilshire Corridor condominiums, Century City condominiums
• Brentwood Real Estate - Brentwood single family homes, Brentwood condominiums
• Santa Monica Real Estate - Santa Monica single family homes, Santa Monica condominiums
• Beverly Hills Real Estate - Beverly Hills single family homes, Beverly Hills condominiums
• Culver City Real Estate - Culver City single family homes, Culver City condominiums
• Palms/Mar Vista Real Estate - Palms/Mar Vista single family homes, Palms/Mar Vista condominiums
• Silver Lake Real Estate - Silver Lake single family homes, Silver Lake condominiums
• Echo Park Real Estate - Echo Park single family homes, Echo Park condominiums

For more information on how I can best serve your Los Angeles real estate needs, please fill out the online contact form or give me a call at 310-473-6919.

Jane Peters knows L.A. Real Estate. Let me do the Work for You!

This report covers the first two weeks of September.

The Westwood Los Angeles real estate market is chugging along in the under $2 million category.  Three homes and 6 condos sold in that price range. 

Westwood Los Angeles homes under $2 million are doing better than condos in the same.  Average days on the market for single family homes are almost half those for condos.  The single family home months inventory indicates a strong sellers' market while for condos it is still a buyers' market

The luxury market, homes and condos over $2 million remains sluggish.  There have been no sales in the month of September.  Months inventory for single family homes is fairly balanced at 6.66 months, but the high end condo market has a staggering 35 months inventory

Westwood Real Estate Market Sales Trend	Sales	Low	Median	High	Avg DOM	% Sold vs List Price	Active Listings	Months Inventory
Houses Under $2M	3	$1,100,000	$1,600,000	$1,670,000	40	94.51	17	2.64
Houses Over $2M	0						15	6.66
Condos Under $2M	6	$350,000	$625,000	$825,000	78	98.31	151	8.38
Condos Over $2M	0						34	35

Data provided by MLS CLAW deemed reliable, but not guaranteed.

12 homes are under contract under $2M
6 homes are under contract over $2M
29 condos are under contract under $2M
1 condo is under contract over $2M

Find homes in Westwood Los Angeles

 

The Westwood Los Angeles real estate market is a mixed bag.The median sold prices in all categories except condos over $2M remain steady but in the latter category, the median is down.  However with only two sales in the past two months, that is not a reliable statistic.

Days on the market are pretty much unchanged

The median price remains steady and sales to list price percentage is also pretty stable.  The luxury market continues to be overpriced reflected by a low of 90% for the last two sales of condos over $2M

All categories are a strong buyers' market except for single family homes under $2 million, with the condos over $2 million category showing a whopping 52.5 month inventory.  There is going to have to be some hefty price changes to sell the 35 sitting on the market, the overwhelming majority of which are on the Wilshire Corridor.

Westwood Real Estate Market Sales Trend	12 Month Sales	Low	Median	High	Avg DOM	% Sold vs List Price	Active Listings
Single Family Under $2M	51	$939,000	$1,417,000	$2,000,000	58	96.23	19
Single Family Over $2M	27	$2,0000,000	$2,775,000	$11,000,000	105	84.54	18
Condos Under $2M	206	$230,000	$579,000	$1,900,000	95	94.26	151
Condos Over $2M	11	$2,050,000	$3,350,000	$7,267,500	95	86.38	35
	6 Month Sales	Low	Median	High	Avg DOM	%Sold vs List Price
Single Family Under $2M	30	$939,000	$1,382,000	$1,935,000	57	96.40
Single Family Over $2M	11	$2,048,820	$2,505,000	$11,000,000	32	94,71
Condos Under $2M	94	$245,000	$534,500	$1,437,900	97	93.75
Condos Over $2M	6	$2,050,000	$3,325,000	$7,267,500	91	80.40
	3 Month Sales	Low	Median	High	Avg DOM	%Sold vs List Price	Months Inventory
Single Family Under $2M	16	$939,000	$1,545,000	$1,482,048	53	95.51	3.56
Single Family Over $2M	7	$2,048,820	$2,500,000	$11,000,000	37	93.27	7.71
Condos Under $2M	36	$269,900	$504,500	$1,437,900	97	93.06	12.58
Condos Over $2M	2	$2,050,000		$2,512,500	12	90.08	52.50

Data provided by MLS CLAW deemed reliable, but not guaranteed.

10 homes are under contract under $2M
5 homes are under contract over $2M
31 condos are under contract under $2M

 

UCLA  architecture graduate student, Krisztina Jozsef had the idea of organizing 30 seconds of "pedestrian only" time at the  busy diagonal intersection of Westwood and Le Conte in Westwood Village with a couple of dozen playing in the street between light changes, a total of  30 seconds.  

The activities in the street included, tug-of-war, water balloons, hula hoop, limbo, and even volley ball, and this wall all accomplished before the lights changed.  The guy in the orange suit giving them time updates is their professor.

What was the point?  Urban activism, or "reclaiming public space."  Ms. Jozsef looked at the correlation between childhool obesity and the build up of cities and she wanted to demonstrate a way to use what already exists in a more physical way.

 

 

The Westwood housing market statistics below are taken from the MLS CLAW and are for single family home only.  They do not include condos, income property or private sales.

Westwood home sales figures for May are pretty steady. The number of homes sold was down slightly over April but the median price was up by 3.4. Days on the market for homes sold were down 28% continuing the March April drop. Homes under contract were up 54%. The months supply of inventory, however does indicate a market for buyers.

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