Marina Del Rey, CA. Condominium Sales Activity Report (#3)
Without sounding repetitious another 30 days flew by. This reporting period includes one of the worst weeks on record for The Stock Market,( an 18% drop for the week of October 13,2008) Continued fears and anxiety about the credit freeze had a devastating effect for Lenders. Money became scarce.
So let us look at the facts. My last report was September 29, 2008. Let me summarize what has occurred since then.
There are currently on the market, for sale 199 Condominiums.
As of today, there are 26 Condominiums that are pending. That is a drop of 10 since last month. Numbers like this, with the financial turmoil that is quite good in my perception.
September- October (30 day period) there were 18 Condominiums that SOLD. Interestingly that is one more then during the previous thirty day period.
In spite of the worst week in the financial market and a ten day period of almost no available money i.e.: credit we still had 18 Condominiums that sold. All I can say is that is great. The highest price Sale was $1,550,000 and the least expensive one sold for $350,000 one thousand dollars above the asking price.
Hope you find these numbers not only interesting, but valuable as well.
If you are a consumer who is considering buying or selling investment real estate, vacation homes, or beach properties in Southern California, Beverly Hills ,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 http://www.endrebarath.com