Westlake Village CA Home Values and Absorption Rate

By
Real Estate Agent with Compass DRE 00997649

Selling your home in Westlake Village CA

Knowing the value of  Westlake Village CA homes is important even if you are not thinking of buying or buying immediately.  Keeping up with home values where you live or want to live is important and knowing this information in advance of making a decision to sell your Westlake Village home or to buy a home in the area is more important than ever.  

Often home sellers make a quick decision when they decide it's time to sell.  Knowing and understanding the real picture of the real estate market is critical to getting your home sold at the best price possible.  This can also work for buying a home at the right price. 

 

Absorption rate for Westlake Village CA

Absorption rate is the most practical measurement of the rate at which a market absorbs or eliminates inventory.  Simply put, it's the number of months it would take to sell existing inventory in a given market.  The closed sales were calculated for the past 12 months for the absorption rate.

The absorption rate for Westlake Village CA is currently 1.8 months of inventory currently on the market in this price point category.  This indicates a Seller Market. 

30 Day Real Estate Market 

In evaluating the Westlake Village CA real estate market for home sellers I am using the price point of $1M and under for single family homes.  I have included both Los Angeles and Ventura County as our area is divided between the two counties.  This includes both 91361, 91362 zip codes for Westlake Village market area.  

The number of homes currently on the market for sale which includes the homes that are contingent, meaning they are under contract but all contingencies have not been removed, totals 40.  The number of homes that are pending, meaning they are in a position to close escrow as all contingencies have been signed off and all the homes that have closed escrow and sold total 30.  This is a 30 day history of Westake Village CA real estate market.  The 30 day market graph is one I have prepared below is a good visual of the market.  

 

Westlake Village CA homes priced under $1M 

Currently for the 30 day market analysis for homes in Westlake Village CA priced under $1M (from 06.18.2015 to 07.18.2015): 

    

      Status                                                                              Average Price 

  • Active on Market - 24                                                   $834,821
  • Contingent for Back-up offers - 16                            $781,447
  • Pending/Preparing to Close - 9                                   $870,878
  • Sold/Closed Sales - 21                                                   $793,950

The total of this report for all Status's in Westlake Village CA in the 30 day market is over $57M in

inventory.  

 

Pricing your home correctly is the most important decision that you will make in marketing your home.  It determines how fast your home will sell and therefore getting the most money for your home.  

If you're ready to put your home on the market or just thinking about we would be pleased to have this discussion with you.  

This graph below is prepared based on the above numbers.  

Property Type  Residential    Include Property Subtype  Single Family    Area  Westlake Village    Subdiv/Tract Code  exclude exact: 741 Counties  Los Angeles, Ventura Statuses  Active, Back Up Offer (6/18/2015 or after) , Pending (6/18/2015 or after) , Sold (6/18/2015 or after)  Price  999,999 or less  

Listings per Status
 
 Minimum, Average, Maximum
 
 Days On Market Analysis
 
 Listing Price\Selling Price

 

All information deemed reliable, but not guaranteed.
Generated: 7/18/15 11:17am

 

 

Posted by

Teri Pacitto Group, Cal BRE #00997649

Broker Associate, REALTOR® | SFR®, CLHMS, CDPE, CHS®

RE/MAX Olson & Associates, Inc. 

30699 Russell Ranch Road, Suite #100, Westlake Village, CA 91362 | ( Office: 805.494.4663| ( Mobile: 805.444.7013 www.TeriPacittoGroup.com 

Facebook Twitter You Tube   
                                                       

Comments (10)

Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

so based on the 30 day closed , there is a 4 month supply?

Jul 18, 2015 04:44 AM
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

MIKE ROCK as you can see my absorption rate was for 12 month time frame.  You can measure for any period as you want.  Our 30 day would be 1.14 mo.  based on Active vs Closed.  Thank you for stopping by.  

Jul 18, 2015 05:29 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Teri Pacitto,  Great information for buyers and sellers in your area plus us in the rain.

Jul 18, 2015 09:09 AM
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

Will Hamm You are so right. Hope your market is doing great...I hear it is.  I have many friends who live in your area. 

Jul 18, 2015 09:28 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Teri, very nice market update for Westlake Village, and you are the GO TO REALTOR to contact for any real estate needs. 

Jul 19, 2015 10:58 PM
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

Joan Cox It's what we do...Thank you for your comment and stopping by. 

Jul 20, 2015 04:39 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Nice info on the Westlake Village Real Estate Market. Buyers and sellers appreciate this type of stats during the buying and selling process!

Jul 29, 2015 10:02 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Teri - that was a very thorough and understandable market report.  That will certainly attract buyers and sellers to you for your knowledge.

Jul 30, 2015 12:11 AM
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

Grant Schneider .  Thank you for your comments and stopping by.

Jul 30, 2015 12:32 AM
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c) . Yes, buyers and sellers need this important information.  It's great to share and I appreciate your stopping by. 

Jul 30, 2015 12:33 AM