One of my clients asked why I have not been providing Market Reports for the Playa Vista community. I explained that there has been another agent who has been doing that. My client informed me that this person has not done it in three months or longer. Hence, since there is a need, let me provide it. By the way if you are interested in Market Data for any other area, feel free to contact me directly and I will be more then happy to provide it for you.
For January 2009 there were 51 Active Listings on the market in this semi private community. Two (2) properties are in Escrow and the buyer has not removed the contingencies yet. There are three (3) properties that are in solid escrow. As well as the most valuable data is three (3) properties sold in January of this year.
This all seems like a market snap shot, so what I would like to do is frame this in relation to 2008 as well as 2007.
The 2008 figure is not much different then the 2009, in January 2008 four (4) properties sold.
The data is interesting, that everywhere in 2007 near by, there was a much larger volume of sales. So let's see how Playa Vista fared. Interestingly there were six (6) sales in January of 2007.
So you are wondering why there is such a minor difference. This is a planned community, the first one in fifty years in Los Angeles proper. Not everyone is attracted to such a community, as well as there is an additional cost that you have to pay above and beyond the community fees, that is for the infrastructure such as roads, sewer system etc.
So not every one can or wants to pay for that.
I love this community, since it was planned out so well. See my post about the Parks (Playa Vista ,CA. Parks Part #1).
So in conclusion starting today, I will provide you with monthly Market data as well as an annual summary for Playa Vista.
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, 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 EndreBarath@TheMLS.Com or visit one of my websites at http://www.endrebarath.com