Gibson International Releases Westside Real Estate Market Report

Gibson International Releases Westside Real Estate Market Report

Posted by Gibson International

LOS ANGELES, CA - Wondering what’s going on in your local market? Our team created a detailed report of residential real estate (single family homes and condos) in Westside communities for Q2 2015. Now that we’re in October, it’s time to track the market trends during Q3 2015 (July 1st – Sept. 30th). In our latest report, we compiled sales data comparing Q3 stats from previous years in areas including Santa Monica, Brentwood, Marina del Rey, Pacific Palisades, and Venice. Each page of the report provides information specific to the individual Westside community, including number of properties sold, average days on market, and sale to list price ratio.
Here are 5 highlights to entice you:

• Average price per sqft. is up in Beverly Hills, Beverly Hills Post Office, Beverlywood, Brentwood, Cheviot Hills-Rancho Park, Marina del Rey, Pacific Palisades, Palms-Mar Vista, Santa Monica, Venice, West LA, Westwood-Century City, and Westchester.
• Brentwood condos saw a 4% increase in inventory (new listings) and sold in an average of only 48 days.
• Sale prices are climbing in West LA; the median sale price of $991,000 for single family homes, represents a 15.30% increase. West LA houses also earned the highest sale to list price ratio of 102.52%
• Playa Vista condos are generating the most sold prices over asking with a sale to list price ratio at 101.93%.
• The West LA condo market is also strong as the median sold price (765,000) shows a 21.45% spike from the previous quarter.

To read the full report, please click the photo below: