Midyear Assessment of the Condominium Sales in Marina Del Rey,CA
Well here we are and it is the 5th of July, 2009, I have been busy showing homes, condominiums as well as even land.
It is the half way mark for the calendar year, so let us review the numbers and analyze the statistics.
January February March April May June
Active: 180 185 191 199 184 197
Pending: 10 13 19 20 21 30
Accepting Backup: 11 15 11 17 23 20
Sold: 12 7 16 10 18 18
As you can see that the Active inventory has increased from 180 in January to 197 in June this is approximately a 9 % increase year to date. Hence the buyers have a larger inventory pool to choose from.
The Pending properties have increased as well from 10 pending to 30 pending that is quite phenomenal a 300 per cent increase from January to June. That is a clear indication the buyers are out and they are making offers on the properties that they perceive as a good value.
Not only have the Pending increased, the properties that are currently in Escrow, but the buyers have not removed their contingencies are up as well. In January we had 11 Accepting Backup Offers and now in June we had 20 that are about an 80 % increase.
Sold properties were in January 12 and now in June we had 18 this is a 50% increase. As we look at these numbers it is clear that this is not just a fluke, rather it has been a steady increase month over month with minor deviations. Some generated by Lender delays with appraisals, tightening of credit lending requirements and delays in the handling of the loans. Overall I see a very positive direction in the Marina Del Rey Condominium Market.
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