Video: Real Estate Community Tour for West Hollywood, CA
See Real estate community tour for West Hollywood, CA
Welcome to August's Market Update. Let’s take a look at residential real-estate activity in your area during the month of July. The number of active listings was up 13% from one year earlier, and up 6% from the previous month. This continued upward trend reflected a healthy inventory for buyers to choose from. As you can see, the median listing price for the month was just over 800-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 73%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 900-thousand dollars. The number of units sold decreased 50% year-over-year, and held steady month-over-month. Even though sales figures were down from a year ago, the recent local market conditions were basically unchanged. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.