The year is coming to a close, and the market on the Westside is amazing. The entire year saw rising home prices and a high sales volume. Today, I’d like to focus your attention on the condo market during the third quarter of 2017 and how it fared in our market.

Sales Volume Increases

There were a few areas around the Westside with increased sales in the condo market during the third quarter, a period with traditionally lower than average sales volumes.

These included:

• North Inglewood – Up 87%
• Playa Vista – Up 83%
• Beverly Hills – Up 45%
• Playa del Rey – Up 24%
• Culver City –Up 24%
• Santa Monica – Up 16%
• Hollywood – Up 12%
• West Hollywood – Up 2%

These numbers are based on the changes from the third quarter of 2016.

Sales Volume Decrease

Of course, like with any statistics, not all areas on the Westside saw a gain in the condo market volume despite a gain in home prices. This is likely due to a lower supply as opposed to less interest in the area.

• Brentwood – Down 2%
• Century City – Down 2%
• Pacific Palisades – Down 8%
• Venice – Down 8%
• Wilshire – Down 10%
• Holmby Hills – Down 47%

Although the official numbers are not yet out, condo prices appear to be going up during the third quarter as well, making the condo market hot in most areas on the Westside. If you are thinking of selling your condo, now would be a great time. Give me a call, and I’ll help you make a plan.

Categorised in: Blog, Condo/Townhouse Corner, Housing Market