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Century City,CA., Condominium Market Activity Report for May 2009

Posted on Jun 2, 2009 by in Active Rain | 0 comments

Here we are the month of May just flown by for me. Even though there were thirty one days in the month I could have used a few extra. The activity has picked up not just for other Realtors, but for me as well. I have been fielding calls, showing properties, and writing offers and found my self in multiple offer situations more then five times this month. I am confident, based on my activities that the numbers will be better compared to the previous month. 

Now let us look at the actual Condominium Activities for the month of May in Century City, CA.

 As of 5/31/2009 there were 315 Condominiums on the Market within a broad range of prices. Least expensive Condominium for sale was listed at:                              

•1.      A Single for $275,000.00 (this reminds me of 2001 when the last time I remember a Condominium in Century City starting with a list price in the 2’s.

•2.      A One Bedroom for $349,000.00 ( again the year 2001 keeps coming back to me) 

The most expensive Condominium has a list price of $15,250,000.00 this property went up in stature only because the other three higher priced Condominiums are In Escrow already.           

•1.      a Penthouse Unit  listed at $27,000,000.00 is in Escrow

•2.      another Penthouse Unit listed at $24,500,000.00 is also in Escrow

Hence the above mentioned takes the pole position, if you were wondering I have written  about this Luxury Condominium Complex before.( http://activerain.com/blogsview/795366/do-you-think-the-real-estate-market-is-bad-look-at-the-century-in-century-city-ca–  ) The complex is still unfinished and the prime units are quietly going into escrow, without much fanfare from the media, unlike the first one. 

Now let us look at the statistics for Accepting Back Up Offers and Pending: 

There are currently 38 Condominiums where the buyers have not removed their contingencies yet. 

There are 54 Condominiums where on the other hand the buyers have removed their contingencies. 

I am still yet to hear from the Media what I have been saying since November 2008. The activity has been increasing month over month as well as the Sales.

 So with that let me introduce to you the Sold Statistics for the months of May 2009 were: 

27 Condominiums that Sold. 

I find these numbers quite impressive, especially where we were in the beginning of the year from an activity stand point and where we are now. Please visit my previous month’s statistics and see for yourself. I have been telling anyone who was willing to hear me out, next year(2010) you will be coming to me and will tell me ‘…yes you were right I should have bought in 2009 when it was at the bottom…’ by the way it is not too late.

 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 EndreBarath@TheMLS.Com  or visit one of my websites at http://www.endrebarath.com  

 

 

 

 

 

 

 

 

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