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Century City Condominium Market Report for May 2010

Posted on Jun 13, 2010 by in Active Rain | 0 comments

Century City Condominium Market Report for May 2010. As we look at the snapshot from May1st 2010 to May 31st, 2010, we will notice that there were 277 Condominiums on the market for sale. This is an increase of approximately 9% from the previous month. I find this very beneficial; it will allow buyers to have a larger selection to choose from.

The gap between the super rich is widening and it is very clear. The highest priced condominium on the market is a Penthouse on Wilshire Boulevard; the asking price is $19,000,000.00. It consists of 6 bedrooms and 9 bathrooms with an approximate 11,179 sq ft of living space. Keep in mind the buyer, who will ultimately buy it, has many options available as far as where and what to buy.  Now to the least expensive condominium, it is a Studio (single) not even a one bedroom and the asking price is $225,000.00 and a mere 377 sq ft of living space.

There were a total of 28 Properties in Escrow and 14 have not removed their contingencies and 14 have removed them and are waiting to close escrow. These numbers are almost identical to the previous month’s figures. (See my report of April.2010   http://activerain.com/blogsview/1674199/century-city-ca-condominium-market-report-for-april-2010  )

The total closed transactions were 41 for the period covered. This is an increase of 7.8% from the previous month. I find this very interesting.

I was also curious what the days on market numbers looked month over month from the previous year. So here it is, see how interesting these statistics are.

 

This was a drop of 32 per cent over the same period in 2009. The sales transactions confirm this as well. Clearly a sign of shorter times on the market translate to more sales.

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

 

 

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