The Playa Del Rey, CA Condominium Market Report for the month of August, 2011
Hope everyone had a relaxing Labor Day Weekend and are ready to get back to work and finish the year strong. The month of August had a lot of ups and downs on the World Economic as well as the World Political fronts. Europe has been in turmoil and that has affected the Stock Markets throughout the world as well as the Momar Ghadafi situation in Libya has put people on the cautious side.
Currently there are 49 Active Condominiums on the Market available for purchase. The least expensive one is a One Bedroom One bath Condominium of approximately 720 square feet of living space for the asking price of $189,000. At the other extreme, the most expensive Luxury Ocean view Condominium is a three bedroom and three and bath with 2,200 square feet of living space for $2,175,000.00.
There were 5 Properties in Backup-Status, where the buyers still have not removed their contingencies. There were 2 Condominiums in Hold Status; this is an indication of Short Sales, where buyers and sellers are waiting for Lender Approval. Interestingly there are 3 Properties that are Pending- Status. This is where the buyers are just waiting for funding and Escrow to close. The Sold statistic consisted of 13 Condominium that closed during the month of August.
The Statistics are very similar to the numbers in July, so all the negative detractors have not had any major impact on the Playa Del Rey Condominium Activity.
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 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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