Supply & Demand in 90064 Single Family Residences for Sale & Sold homes

Supply & Demand in 90064 Single Family Residences for Sale & Sold Homes!

July 2012 vs. July 2013 the number of sales was down – 16% per cent and the number of sold properties was down 7% per cent. On the short term this seems hardly worth mentioning, but it makes me pause. How is this connected with interest rates increasing? How does it connect with consumer confidence?  How does this connect with the huge increase of prices? I could go on and on. It is important to monitor these numbers and watch the trends.

I am of the belief, that existing home sale have increase doe to the increased urgency by home buyers as well as developers. They began to aggressively buy as they saw the trends of price increases as well as the concern for interest rate increase. At the same time I do not believe that this will continue at the rapid pace it has been. We will see a dip in both sales volume as well as prices. Now that the frenzy has peaked there will be more moderate prices as well as activities. This is just based on my observation of the activity in the 90064 zipcode.

If you are considering buying or selling a luxury home, or an ultra luxury home, or luxury investment real estate, or luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations