Playa Vista Condominium Market Report for May 2011

Playa Vista Condominium Market Report for May 2011

As most of my regular readers know I am a firm believer that you have to look at a Real Estate Market Report not just as a snap shot of the previous months activities, but rather as what the Trend is. If we observe and monitor the trend, than we can make educated predictions of activity for the near future of the Real Estate activity in a particular pocket.

Unfortunately there are events that are beyond our control that will impact the local Real Estate activity. Last month there was a slowdown of the growth in the US Economy. A large part can be attributed to the earthquake in Japan, which created a shortage of parts and had a global as well as a local impact.

Then there was a huge rise in the oil prices, which caused consumers to cut back on spending. Even though the oil prices have dropped back to $100 per barrel the damage was done. The slowdown occurred.

Now with that said let's see how the Playa Vista Real Estate Activity fared for the month of May.

There were 28 Active Condominiums on the market for sale. This is a slight increase from the previous month.

There were 4 accepting Backup Offers; 1 was on Hold status and 3 were pending. This is a huge drop from the previous month; hence it confirms that the consumer spending took a pause.

The Sold numbers for the month of May were 7 a drop from the previous month's 13. So it should be interesting to see if we have a rebound during the month of June.

So for your convenience I am going to include the previous five month's Condominium Market Reports for Playa Vista, CA. This way you can look at the Trends yourself conveniently. (See Below)

http://actvra.in/Jw   (published January 2011)

http://actvra.in/4T5 (published February 2011)

http://actvra.in/6dx (published March 2011)

http://actvra.in/7Vj (published April 2011)

http://actvra.in/9mD (published May 2011)

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.