Century City/ Westwood, CQA Condominium Market Report for February 2012
Century City / Westwood, CA Condominium Market Report for February 2012
Recent data suggest that the worst may be over and that the housing sector has begun to stabilize. This was on MSN.com a widely read portal on the internet.
“While we still have a long way to go back to normal, the latest numbers are one more indication that housing is slowly turning the corner,” Bob Nielsen, chairman of the National Association of Home Builders, said recently. David Crowe, the association’s chief economist, added, “We anticipate continued, slow improvement in housing starts and sales through 2012.”
Comments like this are being mentioned more often than what we have been used to seeing in the past two years. Now with that said I am still a firm believer that Real Estate is Local and in the Local statistics there are even Micro Markets.
One of the main reasons I love Century, CA since it is one of the most centrally located Communities in Los Angele. Century City is approximately six miles to the Pacific Ocean and next door to the World Famous Beverly Hills. There are a few parts that have sidewalks, a few spots of green for children and pets to enjoy. This is the home of UCLA one of the most interesting University Campus I have ever seen. So let us look how the Real Estate Activity fared in Century City/ Westwood, CA
February: There were 236 Active Listings, Accepting Backup Offers were 22, on Hold 2, Pending 25 and Sold 38.
I have noticed a decrease of inventory from the previous month and a slight decrease of Sold properties on the other hand Pending properties have increased. This is a mixed sign well see it for yourself:
January: there were 247 Active Listings, 17 in Backup position, 2 on Hold and only 24 Pending and 43Sold. Par t of this I attribute to the challenges of getting loans as well as appraisals in today’s turbulent Economic Times!