Westwood, the home of UCLA, which encompasses the area close to Century City, is a mix of some of the most expensive homes in the city down to apartment living.
The statistics below are taken directly from the MLS and are for single family homes. They also don't take into consideration condos, income property and private sales.
There were 16 sales in the month of December, the highest priced south of Santa Monica Boulevard, at $2,050,000 (high for that particular area), and the lowest was $856,000 in the same neighborhood.
Sales price received versus the listing prices was 97.1%.
Average days on the market of sold properties was 25, a decrease of over 50% over last year.
Below is a breakdown of last month's activity in Westwood-Century City Real Estate:
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Jane....another nice marketplace.....can I live and work there???? any Armenian markets in the area???
Barbara, now you know I can't answer that question :) However, just between you and me, Glendale is a mostly Armenian City. Nice area too with a beautiful new mall. That's new construction and I think they are having problems selling all the condos they built above it.
Hi Jane, another interesting market report - the average days on the market is amazing! There must be a huge demand for homes in Westwood.
Mary, these are just the homes that sold. There are plenty that didn't. But if something good and well-priced comes up in any of the good areas, then they are snapped up. We are short on new inventory.
ADoM at 25 days isn't too shabby. I guess homes are still a hot commodity in Cali. I wouldn't mind taking a few listings there... :)
Chanda, funnily enough, neither would I :)
Our new inventory is getting a bit low as well....
Celeste, and when anything does come up it goes into multiples and over asking.
Jane, the average days on market for real estate in Westwood - Century City is amazing. I hope people there see that you know the market.
Jen, thank you. This is a little misleading since this DOM stat is for the homes that sold. It doesn't take into account the ones that didn't. But then they are overpriced for sure. Just shows you that if something is priced well it goes.
Jane,
Those are impressive numbers, both average price per unit and DOM for those that sold.
Wayne, I know. I am shocked when I see prices around the country.
Hi jane,
This is one of those good meat and potatoes market reports you talked about~very well done! Impressive numbers for sure!
Dorie, thank you. I am going to try and keep them up. I must say Jeff Dowler was a motivator for this one.
Jane good to see you have started to provide this great market information to those in your local area. I am sure it is well received.
Bill, thank you kindly. You are my market report idol :)