holmby hills: Westside of Los Angeles Property Values, the real facts
- 08/04/08 07:26 AM
The market is much more balanced than the headlines indicate. One of the most influential variables driving our local real estate market is inventory. The number of properties on the market (active listings) is down 52% from a year ago. In 10 of the 19 micro markets that we track on the westside of Los Angeles, fewer listings came to market and listings withdrawn from the market and expired listings were unusually high. Prices are determined by supply and demand and right now the lack of supply is counteracting the decrease in sales volume. Less than four months’ supply of homes creates … (6 comments)
The market is much more balanced than the headlines indicate. ;)
;)
