When people ask me how the market is these days I certainly tell them it’s good….just not necessarily if you’re a buyer. Real estate, like just about any other market, is a matter of supply and demand. There’s no question that the demand is there, but it is a big question why the supply is so low. Take a look at the chart below to see just how few homes are actively for sale in the Hollywood Riviera (light green bar) while the number of sold homes and pending sales bounce back and forth but overall have remained pretty steady.
The chart above shows the number of active listings, homes in escrow and sold homes for each month in the Hollywood Riviera.
The chart above shows the average price per foot of homes in the area. While this can be a helpful statistic it’s not always as relevant in an area such as the Hollywood Riviera in which homes can differ so greatly in terms of upgrades, views, age, etc.
The chart above shows the average days on market as well as the % of how close homes are selling to their original list price.
The chart above shows the average list prices of the homes as well as the average selling prices of the homes.
The chart above shows the months of inventory on the market or how long it would take to sell all of the homes. The higher the number the more of a buyers market it tends to be.