2013 Westside Los Angeles Real Estate Market
Looking to buy or sell your home in the Westside of Los Angeles area? Below shows what has been happening in the Brentwood, Pacific Palisades, Santa Monica, and West Los Angeles neighborhoods over the past year. You will find that the Westside Los Angeles Real Estate Market varies from community to community.
In 2013, the median price for homes in Brentwood went up about 30% from 2012. However, the amount sold went down 43%, which means that the sales volume also decreased. The number of properties for sale decreased by 8%, and they were only on the market for about half of the amount of time when compared to the previous year.
In Pacific Palisades, the median price for homes only went up about 2% from 2012; however, the amount sold decreased by 24%. The sales volume for 2013 was down 44% – almost half from 2012. The amount of properties for sale stayed the same, but the average number of days they remained on the market significantly went down by 57%.
For Santa Monica, the median price for homes increased significantly by 49%; however, the amount sold decreased by 39% and the sales volume by 28%. The amount of properties for sale in Santa Monica went down about 16%, but the average number of days they remained on the market decreased by 23%.
West Los Angeles
Market trends in West Los Angeles show that the median price of a home went up 46%. Unlike the other communities, the amount of properties sold went up 40% and the sales volume went over double the amount from the previous year. The amount of properties for sale went down about 22% and the average number of days they remained on the market increased by 108%.
As you can see, the Westside Los Angeles Real Estate Market statistics differ with each community. Whether you’re selling or buying a home, it is very important to education yourself on the current market trends.