Culver City's Housing Markets: 90231 and 90232 Real Estate Trends
Latest Culver City Housing Data and Trends
Latest Condo Sales and Real Estate Activity 90230-Culver City
As of this week, the median listed price for homes in Culver City, CA 90230, stands at $679,000, with the market action index (MAI) approximately around 59. Over the past few weeks, the market has reached a relatively balanced state between sales and inventory. However, the current inventory levels are low enough to keep us within the boundaries of a Seller's Market.
Properties are being snapped up quickly from the market. The table below illustrates this trend, showing the Median Price, Square Footage, and Days on the Market (DOM) for various properties:
Median Price Sq.Ft. DOM(Date On the Market)
$1,365,000 1,779. 7
$799,000 1,228 21
$675,000 1,074 0
$549,000 747. 28
$1,365,000 property with 1,779 sq.ft. was on the market for 7 days
$799,000 property with 1,228 sq.ft. was on the market for 21 days
$675,000 property with 1,074 sq.ft. was on the market 0 days
$549,000 property with 747 sq.ft. was on the market for 28 days
The limited time these properties spend on the market underscores the competitive nature of the current housing market.
Latest Single Family Residence Data and Trend, 90230-Culver City
The current week's average asking price for properties in Culver City, CA 90230, is $1,488,000, with a market action index of around 52. The demand for homes has consistently surpassed the available supply, which has driven the Market Action Index to rise steadily over the past few weeks. Given that this is a seller's market, pricing pressure could surge if the current trend persists.
Culver City, 90231
The housing statistics for the 90231 area closely align with the trends identified in the previously discussed 90230 data.
Single Family Residence Lates Sold Data and Trends In Culver City, 90232
The real estate market in 90232 Culver City shows signs of further heating up. A combination of high sales demand and a low number of property listings has led to a sustained period of price escalation. Given the current state of supply and demand, the ongoing trend of price growth is unlikely to alter in the near term. For the current week, Culver City, CA 90232 properties have a median list price of $3,099,000, with a market action index of around 57.
Median Price Sq. Ft. Lot Size DOM
$3,699,000 3,831 4,500 - 6,500 14
$3,449,000 3,322 4,500 - 6,500 0
$2,999,999 2,350 4,500 - 6,500 14
$1,462,500 1,094 0 - 4,500 17
The current market indicates a strong buyer interest, particularly for homes priced at around $3.5 million. These properties are quickly absorbed, with some not even staying on the market for a single day. This swift turnover highlights the exceptional demand within this price range.
Consider the following property details:
A home listed at $3,699,000, featuring 3,831 sq. ft. and a lot size between 4,500 - 6,500 sq.ft., was on the market for only 14 days.
Another property, priced at $3,449,000, offering 3,322 sq. ft. of living space and a lot size between 4,500 - 6,500 sq.ft., didn't even stay on the market for a day, indicating immediate buying interest.
A home listed at $2,999,999, with 2,350 sq. ft. and a lot size of 4,500 - 6,500 sq.ft., remained on the market for 14 days.
Lastly, a property priced at $1,462,500, featuring 1,094 sq. ft. and a smaller lot size of 0 - 4,500 sq.ft., stayed on the market for 17 days.
The low days on the market (DOM) across these listings, particularly for those in the $3.5 million range, is a sign of substantial buyer demand.
Lates Sold Condo Data and Real Estate Trends In Culver City, 90232
Culver City, 90232 Data
For several weeks, the number of home sales has surpassed the influx of new listings. Despite this, there hasn't been a halt in the downward trend of prices. As we're already experiencing a seller's market, it's anticipated that prices will stabilize in the near future. If the current sales trajectory continues, it could set the stage for a subsequent price increase.
Please note that the currently available inventory in Culver City, CA 90232, is significantly low when considering the data in this report.
Conclusion
In conclusion, the housing markets in both 90231 and 90232 areas of Culver City display similar trends, characterized by a low inventory and strong buyer demand. This demand and limited property listings have fueled a continuous rise in home prices. The median list price for properties in the 90232 area is $3,099,000, indicating a prosperous market for sellers.
If you're thinking about navigating the real estate market in Culver City, be it for an income property, an estate, a residential home, or dealing with a trust or probate situation, we're ready to meet your challenge head-on. Reach out to us for a no-obligation consultation, where we'll arm you with the latest market trends and comprehensive insights, empowering you to make the most informed decision for your family's future.
We're not just here to offer advice but to guide you every step of the way. As part of our commitment to your success, we'll provide a detailed property equity report, a complimentary appraisal, and an arsenal of proven tips and tricks designed to optimize your return on investment and prepare your property for a successful sale. Let us support you in transforming your real estate goals into reality.