February 2010, Condominium Market Report for Playa Vista, CA
As I was writing my January Market Report, I was lamenting that it appears there is little inventory on the Market. It was not just my imagination, there was very little inventory. Now comparatively there is a lot more.
For the month of February there were 31 Active properties for sale in Playa Vista, CA.
There seemed to be a large drop on the properties that were in Escrow compared to January. February only had two (2) Accepting Backup Offers as well as only four (4) that are pending. Although February is a short month and generally it has a normal dip in the numbers of Properties that are in Escrow as well as which have been sold, it does not justify the large drop between January and February. The consumer confidence is still not as strong as we would like. I attribute this to all the negative news about the direction our current political and economic environment is in.
Ironically not since the 1950's have rates been so low to purchase a home and the first time home buyer tax incentive is still available to use. It is still taking 45 days or longer to get a loan today, hence if you look at January's Properties that are in Escrow the full effect will show two months later.
So with that said there were 8 Sales that closed during the month of February.
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 firstname.lastname@example.org or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of My commission to Local Animal Rescue Organizations.