The Market Report for August 2009 for Playa Vista, CA. is quite different from the previous month. There is a larger inventory to choose from. There are currently 40 Active listings about a 7.5% increase in the inventory from previous month.
The Pending inventory consists of 15 buyers who have not removed their contingencies and 11 who have for a total of 26 which is an 8.5% decrease from the previous month.
There has been a 7% drop in the Sold as well month over month. This is the first time in eight months we have seen a decline.
Playa Vista community is different from the neighboring communities, since it is a Planned Urban Development and it is a very new project. Hence you either love it or you don not. Interestingly this community is the next door to Marina Del Rey, where for the eight month in a row the numbers have increased.
I just want to remind everyone, that the first time buyer's Tax credit is nearing its end. Therefore do not miss out on it.
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 EndreBarath@TheMLS.Com or visit one of my websites at http://www.endrebarath.com