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How About A Flying Fish Festival?

by Craig Whitlock

2ND ANNUAL CATALINA ISLAND FLYING FISH FESTIVAL

Celebrate the annual return of Catalina Island’s famous Flying Fish with a four day festival of family fun, May 28-31st. Enjoy the Taste of Avalon, the Casino’s 80th anniversary dance with Good Vibrations, the Flying Fish Parade and more. Get information today! Visit their website for more info and go have some fun!

LA Westside Sales Highlights - April 2009

by Craig Whitlock

April is showing indications in some market segments that market vitality is on the rise.  Overall, we're seeing a surge in Open House traffic along with an increase in multiple-offers on listings that are reasonably priced from the start.

I've also heard that title and escrow companies have begun to rehire personnel to deal with the increase in activity.

Now back to those market segments with notable changes, which I'll list:

Beverly Hills SFR - Median Sold Price is up 14% over April '08

Pacific Palisades SFR - Median Sold Price is up 20% over April '08

What's also interesting is that in some of the micro-markets, there's a trending back towards a state of equilibrium, which is a balance of inventory and demand with Month's Supply of Inventory (MSI) as the metric.  Generally, about 5-6 months of inventory is considered a balance between a buyer's market (7+ MSI) and a seller's market (4 and less MSI).  Consider these April stats:

Brentwood SFR - 8 MSI (J-26, F-17, M-10)

Brentwood Condo - 5 MSI (J-22, F-10, M-7)

Santa Monica SFR - 8 MSI (J-19, F-21, M-9)

Santa Monica Condo - 5 MSI (J-10, F-9, M-6)

I'm not saying the worst is behind us, but on the other hand, these are indicators that seem to mesh with what's in the media suggesting the 'bottom' may be approaching sometime this year.  For a look at how the other micro-markets performed, click the Market Sales Data tab on the Menu Bar.

 

 Source:  CLAW/MLS

  Information not guaranteed. © 2008 Terradatum and its suppliers and licensors
                          (http://www.terradatum.com/metrics/licensors)

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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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