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Home Buying In December Has Its Advantages

by Craig Whitlock

The Holiday Season is full of must-dos . . . gift shopping, travel for family get-togethers and some even take unused vacation time.  All of these are understandable distractions from your home shopping project.  There are however two distinct advantages to buying a home during the Holidays which you may want to consider.    

First and most important - there are fewer buyers in the market.  This translates to potentially less competition at the negotiating table.  Multiple offers on well-priced listings are very commonplace on the LA Westside and anything that can be done to avoid these situations should be considered.  
 
Second, you stand a greater chance of a seller giving consideration to an aggressive offer in a down market cycle.  They know all too well that the Holiday Season is a bleak time to be on the market yet they're still there because many have to sell..  
 
Of course success hinges on the ability to find the right home which is always the central challenge but can be to a greater degree during the Holidays as some sellers do take their homes off the market.  Yes, it might be harder to find but if you can, the rewards could be sizable and well worth the time and effort.  

LA Westside Sales Highlights - October 2011

by Craig Whitlock

This report will provide a quick overview as to how the Westside micro-markets are currently performing and then compares that data to the same period a year ago.  The key market indicators are:

Pending Sales Activity - sometimes referred to as the 'Number of Properties Under Contract'.  This is a forward-looking indicator of current sales activity where there has been an accepted offer and escrow has opened.

Median Sales Price - that point at which half of the properties have sold for a greater amount and half have sold for a lesser amount.  This indicator pinpoints where in the price spectrum homes have sold rather than reflecting home value.  There is a common mis-perception that a drop in the MSP directly indicates a drop in home value.  It is far more likely that the drop indicates either smaller, older and/or homes in lower-priced areas have sold during the period.

Months Supply of Inventory (MSI) - a leading indicator of market supply, which directly impacts pricing.  Generally, a five to six month supply indicates market equilibrium while anything less signals a 'seller's market' and anything above a 'buyer's market'.  

LA Westside Homes For Sale - Sales Highlights Chart - October 2011   Information not guaranteed.  © 2009 Terradatum and its suppliers and licensors (http://www.terradatum.com/metrics/licensors)

To view a portfolio of four additional reports trended over the past 12 months:  Properties For Sale, Days On Market, New Properties For Sale and Supply & Demand, visit the Market Sales Data section.  If you have any questions or would like to discuss this data at greater length, just drop me a note or call.

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Craig Whitlock
COLDWELL BANKER BRENTWOOD
11661 San Vicente Blvd., 10th Floor
Los Angeles CA 90049
Mobile: (310) 488-4399
Fax: (310) 820-1457

Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or features of properties provided by the seller or obtained from Public Records or other sources as presented in this website.  Interested parties are advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals.  Information herein deemed reliable but not guaranteed.

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