Playa Vista Condominium Activity Report for December 2010

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Real Estate Agent with Berkshire Hathaway HomeServices 01238708
https://activerain.com/droplet/Jw

Playa Vista Condominium Activity Report for December 2010. It is hard to believe, but the New Year is upon us. As we move forward, it is important that we should reflect of how the Real Estate activity was for 2010 in the Playa Vista Market. So let us look at the December statistics in a broader sense.

There were 29 Active Condominium Listings for Sale; this is an 18 per cent increase by month over the December 2009 figures. Generally speaking, I find it when there is a larger selection of listings, then buyers have better choices and they tend to make reasoned decisions and end up buying properties quicker. At the same time Sellers tend to be reasonable and more receptive to correct pricing of their homes, because they know if they do not price it correctly their home will only help sell the other homes faster.

There were 6 Properties in Escrow accepting Backup Offers and 2 Pending, this is a 150% increase over December 2009. Not only is this noteworthy for comparison, but at the same time it is an indication how the New Year will fare in the beginning of the Winter Sales Cycle.

There were 6 Sold Condominiums for the month of December. This unfortunately is a 50% decrease of Sold properties in comparison to the December 2009 numbers.

The Median Price of for Sale Properties is down by 4% and what is more noteworthy is that the Median Price of Sold Properties is down by 13%.

This basically means that the Affordability has increased in Playa Vista, CA. In other words more buyers can afford to step into this wonderful community with Clubhouse, Gym, and Parks for children and four legged critters. I am sure a significant point to many who have been on the sidelines for the past two years and are considering buying this year.

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 homes@endrebarath.com  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

 

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Karen Crowson
Coldwell Banker Residential Brokerage - Rancho Bernardo, CA
Your Agent for Change

That's a lot of activity in one complex. When I look at stats by development or neighborhood, the quantities are that high.  Of course, we've had less than normal inventory levels much of the year.  Nice localism post.

Jan 08, 2011 10:41 AM #1
Rainmaker
3,236,449
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Karen, this is such a great Community, the first new Planned Urban Development in Los Angeles in about 50 years. Also great because it is less than 2 miles from the Ocean. I agree with you Karen we were challenged by the lack of inventory.

Jan 08, 2011 10:46 AM #2
Rainmaker
232,779
Ken Barker Realtor® GRI, E-Pro Certified
Dilbeck Real Estate - Burbank, CA

Endre - This is a nice breakdown. A nice 150% sounds like so much. And yet 50% on the solds.

I have yet to put something together but you will see our stats real soon in my area.

I am just starting my template. If I may use some of your method to incorporate?

Jan 08, 2011 01:03 PM #3
Rainmaker
3,236,449
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Ken, I look forward to your Statistics real soon. Ofcourse feel free to take what you consider good.

Jan 08, 2011 01:11 PM #4
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Rainmaker
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Endre Barath, Jr.

Realtor - Los Angeles Home Sales 310.486.1002
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