Century City- Westwood Condominium Market Report for January 2012

Century City- Westwood Condominium Market Report for January 2012

Century City-Westwood Condominium Market Report for January 2012 while a bit late for me, never the less it is published before the main stream media’s data comes out. While the short term economic picture may be mired with uncertainty many indicators point to the financial strength of most companies, hence that will translate to consumer confidence and ultimately will reduce the high unemployment figures. That of course will help the Real Estate Activities. That in turn will help the economy.

So with that said let me recap December 2011’s numbers as well as January 2012’s so we can properly see the trends:

December’s Statistics were as follows:  There were 247 Active listings on the Market waiting for a buyer in Westwood-Century City. There were 24 Properties Accepting Backup Offers and 2 on Hold (an indication of Short Sale) and there were 24 Properties Pending waiting for Escrow to Close. There were 43 Sold Condominiums for the month of December in Westwood – Century City.

January’s Statistics were as follows:  There were 243 Active listings on the Market waiting for a buyer in Westwood-Century City. There were 17 Properties Accepting Backup Offers and 2 on Hold (an indication of Short Sale) and there were 33 Properties Pending waiting for Escrow to Close. There were 34 Sold Condominiums for the month of January in Westwood – Century City.

There has been an increase in the Pending Status; hence I am wondering is the decrease in closed transaction due to Lenders taking longer with the Approval Process?  I am just thinking out loud.

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 call at 310.486.1002 email me at homes@endrebarath.comor visit one of my websites at http://www.endrebarath.comYour Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.