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Marina Del Rey,CA Condominium Market Report for the month of November 2010

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

Marina Del Rey,CA Condominium Market Report for the month of November 2010

 The long awaited November Condominium Market Report for Marina Del Rey, CA is finally here. As some of you know I have and am out of the country as this is being written. I have noticed there was a drop from the Active Listings from the Previous Month.  We went from 169 to 156 this has been not been a downward trend as in Century City Real Estate Activity, quite different it is more like a roller coaster, up the previous month and down the month prior. Part of it is cyclical due to the winter sales cycle, fewer sellers place their homes on the market, part of it due to the home that the New Year will bring renewed confidence and sellers are holding off with marketing their homes.

Interestingly there has been a drop in the Properties Accepting Backup Offers; we went from 12 to 0. This is a noteworthy number, since this is an indication that there are fewer buyers who are in Escrow as we speak.

There is no Condominium on Hold Status which is generally a sign of a Short Sale transaction waiting for Lender Approval. Either the Lenders have started approving the Short Sales quicker or fewer buyers are taking the plunge into a Short Sale Purchase.

The Pending transaction number had a huge drop as well. The previous month we had 42 vs. for November we only have 6.

The Sold transaction has taken a drop as well we went from 27 to 18.

Overall the numbers are very interesting. I will write a more detailed analysis once the year end numbers are in. In the mean time I would like to wish all my readers a very pleasant Holiday Season.

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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