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.

Pending Sales activity compared to Jan ’15 down in all market segments (except Cheviot Hills) – a trend that began back in August.  Higher pricing overall is keeping some buyers on the bench which has helped to return the market to a more stabilized condition. 

Many segments now have over 6 months supply of inventory which puts us back in Buyer’s Market territory – in theory.  This is largely because Buyers have also become more discerning and are passing on what’s available believing it’s over-priced for their preferences.

Well-priced listings continue to receive multiple-offers and vanish quickly.  Home Sellers who price correctly are rewarded with above-asking sold prices which mean there’s still opportunity for those who wish/need to sell!

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 misperception 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 Sales Highlights - January 2016 © 2010–2016 10K Research and Marketing®

To view a portfolio of three additional reports trended over the past 12 months: Properties For Sale, Days On Market and New Properties For Sale, 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 give me a call.