If you are looking at Culver City real estate with an eye to buying a home, or you are thinking of selling your home in Culver City, you are probably wondering how the housing market did in 2010.
Culver City still remains a desirable place to live. It is an artistic community with an ever growing number of restaurants opening. And the metro line in phase one of constructions, slated to carry passengers from downtown to Santa Monica, is only going to increase the housing values in the area.
Culver City real estate still remains affordable, and if you have any interest in income property, Culver City does not have rent control!
So how did Culver City real estate do in 2010?
The Culver City single family housing market remains very strong. Inventory is fairly low, average days on the market are under 2 months, average sales prices are steady and the sales vs list price is high. The single family market is a sellers' market.
The Culver City condo market, is slowing down, although is still quite balanced, with just over 6 months of inventory, which indicates a buyers' market. Average prices are fairly steady, average days on the market under 3 months, and sales vs list price reasonably high.
If you are looking at buying or selling a Culver City home, now is not a terrible time.
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Jane, those DOM stats are incredible-especially for the single family homes. Now I see why you need more sellers for your buyers you are working with.
What building is that in your picture? It is my favorite of all the buildings you have shown us, perhaps because it is brick! It has character!
Bruce, this is the Culver Hotel. Originally co-built by Charlie Chaplin. It is a historical landmark.
Jane -- Culver City is great! It's vibrant like Belmont Shore without the shore but an even more fantastic location in terms of freeway, westside beaches/marina and upscale shopping. :)
Jane, Love the Culver Hotel picture AND your current stats!
Andi, Culver City is well situated for access to the beach and marina. And the downtown does remind me a little of Belmont Shores.
Bill, thank you. I was waiting for you to come by and check on me :)
Jane, I am going to 'steal' your idea of the chart. Really impressed - and very nicely put. (I did 2010 reports for some towns where I work - but this is simply great.)
Praful, steal away. Imitation is the highest form of flattery. This is second generation anyway.
Nice job Jane, you should do a post on the history of house that Chaplin built...
Gerry, oy! Another post.
Jane, these localized area market reports you're putting out are terrific. Nice summaries (and overviews) of recent trends and relevant stats.
Jane~ Nice post! I'm jealous on two levels..... no snow!! and how did you do those graphs (please share :)
The numbers seem to indicate that homes and condos in Culver City are still moving at a fairly quick pace. That's good news for you and good news for those looking to sell.
Jane--Very detailed report on the housing sales statistics for Culver City. You really are the expert for the area!
We agree, that building is gorgeous and love your Market Absorption charts, Jane!
David, thank you very much. You're not doing a bad job yourself.
Kim, Someone was kind enough to give me the graphs. They are Excel. Email me if you want the scoop.
Craig, good news indeed.
Teri, thank you kindly.
Carol, thank you too.
Jane - great stats ... and interesting absorption rates ... contrasted to others in SoCal ... they seem really similar! What is that building? ... It's great.
Jack, thank you. That is the Culver Hotel, originally co-built by Charlie Chaplin and a historical monument.
Culver City has an excellent stable market. Your charts are impressive, indicative that you are the market expert.
Jane, it looks like Culver City is a very balanced market. I like the way you present your information - always easy to read.
Leolinda, thank you.
Juli, thanks also.
Jane,
I really like reviewing your market absorption statistics. Culver City shows stability and I know Cherise would like the artistic value of the community... g
Gordon, you should come check it out.