Good News for the West Hollywood Condo Market - Market Report Aug 2012

Good News for the West Hollywood Condo Market

The West Hollywood Condo Market is showing clear signs of improvement. Year-on-year statistics reflect that prices are improving, listing time is shortening, and inventory is decreasing.

With mortgage rates at historical lows, now could well be the time for Buyers to re-enter the market.

West Hollywood - Market Report for August 2012 versus August 2011:

Total Sold in Dollars: $13,936,000 ($13,380,000)

Number of Units Sold: 25 (27)

Average Days on the Market: 99 (106)

Median Price: $520,000 ($415,000)

Average List Price: $573,000 ($516,000)

Average Selling Price: $557,000 ($496,000)

Lowest Price Condo Sold: $219,000 ($121,000)

Highest Price Condo Sold: $1,050,000 ($800,000)

Stewart Penn - Realtor for homes, condos & lofts in Los Angeles, Beverly Hills, West Hollywood, Hollywood Hiils, the Sunset Strip and throughout the greater Los Angeles area.

Now also selling Mid-Century Modern homes in Palm Springs, California.

Stewart Penn - (310) 844-6515 | (310) 866-1818

Realtor | Broker  - Los Angeles Condo Specialist

Penn Properties - "An Independent Real Estate Brokerage"

Information obtained from The MLS is deemed accurate but not guaranteed. Figures rounded for ease of comparison.