Marina Del Rey Real Estate Market Report #5 (December2008)

Well here we are 2008 is in the history books now.  Last night as I stopped in to visit one of my clients to wish them a prosperous New Year, they informed me, that we even “added an extra second” to 2008. I am sure it did not help with last years numbers.

 As promised last month, I will do the Market Report in two parts. Part I: the statistics for December and Part II will be a comparison of 2007 vs. 2008 numbers. Part II is more an analysis and clarification of Fact vs. Fiction. Too many people have been giving analysis without facts and statistics in this past year. So let us see the real numbers.

 Marina Del Rey Condominium Market Report Part I (December 2008):

 There are 180 Condominiums on the Market for Sale as of today.

 There are    17 Condominiums that are in Escrow as of today and 7 have not removed their contingencies. It should be interesting to see how many of these will close in January 2009.

 12 Condominiums Sold in the month of December. The most expensive sale was $1,500,000. The least expensive sale was $445,000.

 If we compare November’s Statistics there was a 10 per cent drop in the Active on the Market inventory.  As well as a 7 per cent drop in what is in Escrow. The Sales numbers had a 6.6% drop as well. With having a short work month in comparison to November

And the focus being on the Holidays I see this as quite a productive month, in spite of all the doom and gloom information out there.

 I hope these numbers will be of value and interest to all my readers. I would like to wish everyone a Happy, Safe and Prosperous New Year.

  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, 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 https://www.endrebarath.com