Marina Del Rey, CA Condominium Market Report for June 2010. Well June is in the history books now, so let us see how it fared. Many of us were wondering what the effects will be of the elimination of the Federal Tax Credit and now we shall see.
There were 167 Active listings during the month which is an increase in the inventory by about 9 per cent from the previous month. I am a fan of larger inventory, because the benefits are numerous. It keeps sellers realistic in their pricing, since they know that they have competition, hence preventing unrealistic price increases that are not justified by supply and demand theories. Also it gives buyers more to choose from, hence ultimately increasing the odds that they will buy something.
There was a large increase in the In Escrow i.e.: Pending as well as Accepting Back up Offers. There were 12 properties accepting back up offers and 40 properties that are solidly pending. This is a huge increase over the previous month, i.e.: a 50% increase. Wow I did not expect it to be this big.
The actual sold number was 29 almost identical to the previous months 31 sales. This report is very positive for the Marina Del Rey, CA Real Estate Market.
There is however a statistic I am watching very closely, this is the Average Days on Market. This has increased 23% from the previous month. This is something noteworthy.
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.