Looking for a Century City Condo? February 2011 Market Report

If you are considering buying a Century City condo check out the market below. Be sure to click on each image for more detailed results:

Overview of Century City condo sales over past year to February 2011

The statistics to take note of are, in this case February 2010 vs February 2011 as these take seasonality out of the equation:

February 2010 had one sale - February 2011 had 3. June 2010 had the highest number of sales - 12 Average days on the market of Century City condos sold is up 36% from 84 to 115.

The median list price is down 9% from $1,375,000 to $1, 250,000.

The median sold price is down 48% from $885,000 to $464,000. This indicates that sellers' and buyers' expectations are out of balance. Number of Century City condos for sale in any given month is down 11% from 98 to 87.

New condos coming on the market each month are down from 17 to 9. Supply vs demand shows a market trend. Supply has come down 11% vs demand which has risen by 300%. But there is a long way to go before the market stabilizes (numbers become flatter)

The ultimate indicator as to whether the Century City condo market is a buyers' or sellers' market is Months Supply of Inventory, or Absorption Rate. The months supply has come down significantly from 26.7 months in February 2010 to 10 months in February 2011. It is still a buyers' market. A stable market is 6 months. There is some way to go, but the numbers are headed in the right direction.

More detailed Century City Market Report

Map of Century City

View Century City Condos in a larger map

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you're new to L.A. Town. You'll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs! When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available. If you are an absentee owner, you'll need someone to handle all the details that you can't handle remotely. That's where I come in - I'm there when you can't be. I also specialize in lease property in Los Angeles. Westside Los Angeles Real Estate, including, but not limited to:

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