Marina del Rey, CA Condominium Sales Activity Report(#2)
It is hard to believe another 30 days flew by. Many events occurred and the Media has been relentless in reporting how bad the Financial Markets are and continues reporting about the Real Estate Market being slow at best.
So let us look at the facts. My last report was August 29, 2008 let me summarize what has occurred.
June-July (30 day period) there were 16 Condominiums that SOLD
July- August (30 day period) there were 19 Condominiums that SOLD
August – September (30 day period) there were 17 Condominiums that SOLD
As of today there are 36 Condominium that are Pending. Interestingly last month there were the same amounts of Condominiums pending. Due to the financial turmoil it appears that the days of 30 day Escrow period is of the past. Now it takes about 45 days to 60 days for a Transaction to close unless it is an all cash transaction.
In spite of the turbulence in the Financial Market and tightening of the availability of credit this past 30 days has generated 17 sales and matched last months pending. By the way the least expensive Condominium this month was $475,000 and the highest price Sale was $1,525,000.
Hope you find these numbers intresting. If you have any questions or comments, please let me know, as well as if you are intrested in other areas and the statistics.All information I took from the Multiple Listing Service’s Data base(MLS-CLAW)
If you are a consumer living inside or outside of California and are 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