Los Angeles Real Estate Sales Trends - December 2010
The 2011 real estate market forecast depends on who you talk to. There are conflicting signs but most experts predict a slow growth in sales nationwide. Real estate guru Barbara Corcoran has this to say about buying a home in 2011:
“Of course people are nervous about buying with so many mixed signals, but my advice would be: Do not wait. If there's one thing I learned about this real estate is that it's very slow to unwind and usually takes years to do it. But once it decides to turn around, those prices move up very quickly, and you'll just be joining every Tom, Dick and Harry bidding on the same house. If you have an inclination to move, you'll get no better time than now, with cheap money, cheap prices and an embarrassment of riches to choose from. Why wouldn't you buy now if you were so inclined? The only thing you need is a little courage.”
Let’s compare December 2010 to 2009 real estate statistics to see what improvement has taken place in our local market.
Caution: In all of these Los Angeles neighborhoods, housing quality and size, as well as lot size, vary greatly. Therefore, the highest and lowest sold prices often reflect which particular houses sold and are not generally indicative of an increase or decrease in overall value. So I caution against reading too much into the following statistics:
Beverly Hills Real Estate Sales Statistics - Single Family Homes
|
Beverly Hills |
Sold Listings |
Low Price |
Median Price |
High Price |
|
Dec 2010 |
18 |
$985,000 |
$ 3,040,000 |
$23,000,000 |
|
Dec 2009 |
12 |
$1,238,050 |
$ 2,465,000 |
$13,000,000 |
Beverly Hills Post Office Real Estate Sales Statistics - Single Family Homes
|
Beverly Hills |
Sold Listings |
Low Price |
Median Price |
High Price |
|
Dec 2010 |
12 |
$1,210,000 |
$ 2,190,768 |
$23,500,000 |
|
Dec 2009 |
14 |
$ 525,000 |
$ 1,725,000 |
$4,310,000 |
Bel Air Real Estate Sales Statistics - Single Family Homes
|
Bel Air |
Sold Listings |
Low Price |
Median Price |
High Price |
|
Dec 2010 |
13 |
$ 585,000 |
$ 1,725,000 |
$14,888,000 |
|
Dec 2009 |
15 |
$ 1,015,000 |
$ 2,875,000 |
$ 9,812,500 |
Hollywood Hills East Real Estate Sales Statistics - Single Family Homes
|
Hollywood Hills |
Sold Listings |
Low Price |
Median Price |
High Price |
|
Dec 2010 |
10 |
$605,000 |
$ 976,000 |
$3,100,000 |
|
Dec 2009 |
8 |
$422,000 |
$860,000 |
$1,000,000 |
Hollywood Hills West Real Estate Sales Statistics - Single Family Homes
|
Hollywood Hills |
Sold Listings |
Low Price |
Median Price |
High Price |
|
Dec 2010 |
25 |
$ 589,000 |
$ 1,225,000 |
$7,350,000 |
|
Dec 2009 |
36 |
$ 320,000 |
$ 1,338,750 |
$14,000,000 |
West Hollywood Real Estate Sales Statistics - Single Family Homes
|
West |
Sold Listings |
Low Price |
Median Price |
High Price |
|
Dec 2010 |
6 |
$ 470,000 |
$ 657,000 |
$ 2,225,000 |
|
Dec 2009 |
6 |
$ 530,000 |
$ 716,250 |
$974,800 |
For the latest Los Angeles real estate market conditions visit our Blog at EileenWalshRealtor.com.
