Compare Westside yearly total sales and median
prices for 2009 compared to 2008, ranked from worst to
first:
Financing has become a huge issue and there are less and less move-up buyers, as most transactions at the lower and mid levels are "one and done". Expect more continued weakness at the higher levels.
Here are the Condo prices:
1) Malibu 90265
130 sales, $610K, -29.8%
2) Venice 90291
33 sales, $835K, -21.4%
3) Marina del Rey 90292
193 sales, $585K, -20.4%
4) West Hollywood 90069
203 sales, $446K, -19.0%
5) Beverlywood 90034
33 sales, $400K, -16.2%
6) West Hollywood 90048
40 sales, $525K, -15.3%
7) West Hollywood 90046
101 sales, $440K, -13.8%
8) Bel Air 90077
20 sales, $1,025K, -12.4%
9) Brentwood 90049
151 sales, $625K, -11.0%
10) Pacific Palisades 90272
64 sales, $673K, -10.9%
11) Santa Monica 90405
89 sales, $650K, -5.9%
12) Rancho Park 90064
45 sales, $522K, -5.2%
13) Mar Vista 90066
67 sales, $42oK, -4.1%
14) West LA 90025
199 sales, $598K, -2.8%
15) Santa Monica 90403
143 sales, $750K, -2.0%
Financing has become a huge issue and there are less and less move-up buyers, as most transactions at the lower and mid levels are "one and done". Expect more continued weakness at the higher levels.
Here are the Condo prices:
1) Malibu 90265
130 sales, $610K, -29.8%
2) Venice 90291
33 sales, $835K, -21.4%
3) Marina del Rey 90292
193 sales, $585K, -20.4%
4) West Hollywood 90069
203 sales, $446K, -19.0%
5) Beverlywood 90034
33 sales, $400K, -16.2%
6) West Hollywood 90048
40 sales, $525K, -15.3%
7) West Hollywood 90046
101 sales, $440K, -13.8%
8) Bel Air 90077
20 sales, $1,025K, -12.4%
9) Brentwood 90049
151 sales, $625K, -11.0%
10) Pacific Palisades 90272
64 sales, $673K, -10.9%
11) Santa Monica 90405
89 sales, $650K, -5.9%
12) Rancho Park 90064
45 sales, $522K, -5.2%
13) Mar Vista 90066
67 sales, $42oK, -4.1%
14) West LA 90025
199 sales, $598K, -2.8%
15) Santa Monica 90403
143 sales, $750K, -2.0%
PLAYA VISTA TODAY
Lifestyle magazine for LA's Westside
Lifestyle magazine for LA's Westside
The Ultimate Experience of Living in Playa Vista
Real Estate
LATEST DEVELOPMENTS
presented by Candace Lazan
Existing-Home Sales Down, Higher Than a Year Ago
Existing-home sales fell in January but are above year-ago levels, according to the latest release. Existing-home sales – including single-family, townhomes, condominiums and co-ops – dropped 7.2 percent to a seasonally adjusted annual rate1 of 5.05 million units in January from a revised 5.44 million in December, but remain 11.5 percent above the 4.53 million-unit level in January 2009. Lawrence Yun, NAR chief economist, said there is still some delay between shopping and closing that affected current sales. “Most of the completed deals in January were based on contracts in November and December. People who got into the market after the home buyer tax credit was extended in November have only recently started to offer contracts, so it will take a couple months to close those sales,” he said. “Still, the latest monthly sales decline is not encouraging, and raises concern about the strength of a recovery.”
presented by Candace Lazan
Existing-Home Sales Down, Higher Than a Year Ago
Existing-home sales fell in January but are above year-ago levels, according to the latest release. Existing-home sales – including single-family, townhomes, condominiums and co-ops – dropped 7.2 percent to a seasonally adjusted annual rate1 of 5.05 million units in January from a revised 5.44 million in December, but remain 11.5 percent above the 4.53 million-unit level in January 2009. Lawrence Yun, NAR chief economist, said there is still some delay between shopping and closing that affected current sales. “Most of the completed deals in January were based on contracts in November and December. People who got into the market after the home buyer tax credit was extended in November have only recently started to offer contracts, so it will take a couple months to close those sales,” he said. “Still, the latest monthly sales decline is not encouraging, and raises concern about the strength of a recovery.”
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