Playa Del Rey, CA Condominium Market Report for December 2011 & January 2012
Playa Del Rey, CA Condominium Market Report for December 2011 & january 2012
It was brought to my attention that I did not do a Market Report for the month of December. For some reason it was in draft mode all this time on my computer. Anyway with my apologies you will find both Months’ numbers:
December 2011: Active properties on the Market were 48 in Playa Del Rey, CA; Accepting Backup Offers were 16; on Hold Status 1; Pending i.e.: waiting to close 7; Sold 7!
January 2012: Active properties on the Market were 42 in Playa Del Rey, CA; Accepting Backup Offers were 7; on Hold Status 1; Pending i.e.: waiting to close 6; Sold 12!
Overall this is a good sign that the Sales have increased month over month. Even though there are fewer properties on the market the buyers have moved off the fence. If this trend continues, then it might indicate that life is returning to the Real Estate activity in Playa Del Rey, CA. Keep in mind the affordability has returned to the comparable years as 2002. The interest rates are at a 50 year low. So there have been two things missing: Consumer Confidence & Momentum. In my experience, I have noticed when either one or the other is missing then the Real Estate Activity is sluggish.
Ironically Play Del Rey is a great place to live. There are many Ocean View Condominiums where the Sand is the back yard. The location is directly South of Marina Del Rey it is more enclosed, hence not a true destination place for tourists, hence it is one of the best kept secrets in the Beach Communities. Consequently, since it is less known the prices are more reasonable than Marina Del Rey and the benefits of living is the same: Beach, Ocean Views and identical climate who would not want to live here?
310.486.1002or Pet Friendly Realtor.