Playa Vista, CA Condominium Market Report for August 2010
Playa Vista, CA Condominium Market Report for August 2010
Well here we are September is upon us and we need to look at how the Real Estate Market activity was for August in Playa Vista. The other two micro markets that I watch the numbers spiked dramatically upward, hence I was very surprised when I saw the numbers here.
The Active Condominium listings dropped from the previous month’s 43 to 38. This is a surprise since the past four months the inventory has been creeping upwards.
The pending and accepting backup offers had a huge increase compared to the previous month. July had a combined totally of 9 listing in pending and backup offer status. August had a phenomenal increase of 12 accepting backup offers and 10 solid pending with contingencies removed.
The sold number has decreased from the previous month of 10 to 6 for August. Part of it I suspect loan document delays, hence more pending and fewer sold. We must look at both of these numbers, before we create false negative or false positive news.
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