Playa Vista Condominium Activity Report for December 2010. It is hard to believe, but the New Year is upon us. As we move forward, it is important that we should reflect of how the Real Estate activity was for 2010 in the Playa Vista Market. So let us look at the December statistics in a broader sense.
There were 29 Active Condominium Listings for Sale; this is an 18 per cent increase by month over the December 2009 figures. Generally speaking, I find it when there is a larger selection of listings, then buyers have better choices and they tend to make reasoned decisions and end up buying properties quicker. At the same time Sellers tend to be reasonable and more receptive to correct pricing of their homes, because they know if they do not price it correctly their home will only help sell the other homes faster.
There were 6 Properties in Escrow accepting Backup Offers and 2 Pending, this is a 150% increase over December 2009. Not only is this noteworthy for comparison, but at the same time it is an indication how the New Year will fare in the beginning of the Winter Sales Cycle.
There were 6 Sold Condominiums for the month of December. This unfortunately is a 50% decrease of Sold properties in comparison to the December 2009 numbers.
The Median Price of for Sale Properties is down by 4% and what is more noteworthy is that the Median Price of Sold Properties is down by 13%.
This basically means that the Affordability has increased in Playa Vista, CA. In other words more buyers can afford to step into this wonderful community with Clubhouse, Gym, and Parks for children and four legged critters. I am sure a significant point to many who have been on the sidelines for the past two years and are considering buying this year.
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations
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