April 2009 Sales Statistics and Current Inventory as of May 1
The K.C. Soll Group
Sotheby's International Realty
11911 San Vicente Blvd. #200
Los Angeles, 90049
310.245.6161
In April there were 16 closed sales ranging in price from $970,000 (3 Bedrooms/1.75 Baths, approx. 1,919 Sq. Ft.) in Brentwood Glen to $5.1Mil (5 Bedrooms/5 Baths, approx. 5,709 SF) on Tigertail Rd. The median sales price was $1,668,130. The average DOM (Days On Market) was 38. The Average $ Per Sq. Ft. (April 2009) was $636.50. In 2008, the average $ Per Sq. Ft. for 2008 sales was $875.
Currently there are 166 SFR's ranging in price from $959,000 to $65Mil. The median asking price is $2,849,500. The average $ Per Sq. Ft. (currently listed) is $1,059.37. Please note the disparity between the $ Per Sq. Ft. ASKING VS. SOLD. It appears that asking prices ($ per SF) and Sold ($ per SF) are $400 per SF apart.
There are 30 pending sales, at this writing. That is the highest in the first quarter.
2008 Sales Statistics, and Current Listings for Brentwood, Ca (90049) Single Family Residences and Condominiums
SFR (single family residences)
There were 146 sales of SFRs in 2008. The prices ranged from $751,000 (closed 12/2008) to $15,045,000 (closed 06/2008). The median price for homes sold in Brentwood 90049, 2008 was about $2.1Mil. The average Days On Market (DOM) was 64. Currently, the Median Asking Price is $2,849,500.
Condominiums/Townhouses:
Currently (as of May 1, 2009), there are about 92 condos/townhouse for sale ranging in price from 339,000 for a 1+1 (approx. 683 SF) on Chenault, to $2.2Mil for a penthouse unit in the Brentwood Park on Montana Ave. The unit has about 2,275 SF with 2 Bedrooms/2.5 Baths.
The median asking price is $885,000. The average DOM (days on market)= 102.
April 2009 sales stats: There were 16 closed escrows in April. They ranged in price from $350,000 for a 1 Bedroom condo (listed for $242,000!), to $1,386,500 for a lovely Townhouse residence with over 2,700 SF (3 Bedrooms/3.5 Baths) on Wellesley, just south of Montana/west of Bundy ($497 per SF).
Currently the Average asking price per SF is $538. The average $ per SF for April sales was $457. The average $ per SF of properties in escrow is $439. Prices are still dropping.
In 2008, there were 130 sales of condominiums in Brentwood, 90049. The average DOM (Days On Market) was 83. The median price was $682,000. The average Sq. Ft. was 1,529. The average $ Per Sq. Ft. was $515.
Spring prognosis: Buyer's Market, no doubt about it!
Please don't hesitate to call me for informed, confidential real estate consultation. I have worked in Westside real estate sales and leasing for 30 years. Let me be your guide.
Best regards,
K.C. Soll
Sotheby's Intl. Realty
11911 San Vicente Blvd. #200
Los Angeles, Ca. 90049
310.454.1525
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