Westwood, 90024, Pulse of the Market
Condos and Townhomes in Westwood, 90024: A Seller’s Edge
Westwood-90024 Lates Condo Sales Data Altos Research
The condo market in Westwood is slightly seller-dominated, with a median list price of $1,495,000 and new listings hitting the market at a median of $1,024,500. The cost per square foot stands at a notable $857. Properties linger on the market for a median of 70 days, showing a healthy demand. Notably, the inventory has climbed to 93 units, offering a decent selection for prospective buyers. The Market Action Index (MAI) hovers around 33, indicating a slight seller's advantage, which has increased from the previous month's index of 32.
Altos Research Data 2024 2nd Quarter Westwood-condo-sales and activity
Westwood, 90024 Single-Family Homes, Latest Sales Data and Real Estate Activity
Westwood SFR, 2nd Quarter Real Estate Activity
The market tells a tale of stability for single-family residences, with the median list price perched at an impressive $4,997,000 and new listings averaging $3,995,000. The average price per square foot for single-family residences in Westwood has reached $1,284, highlighting the area's premium value. With an average of 189 days on the market but a median of just 60 days, there’s a mix of fast-moving properties and those inviting more contemplation from buyers. The inventory remains steady with 18 available homes, and the MAI is stable at 38, mirroring last month's figure, suggesting that prices might soon resume an upward trajectory.
Westwood, 90024 Single Family Residences latest information and sales data, Days on the Market, Price Per Square foot
Westwood, 90024 Single Family Residence: Homes priced between $2.5 million to $4.6 million in Westwood showcase a competitive edge, remaining on the market for two to three weeks on average. This brisk pace of sales suggests a high demand in this price range, indicating a favorable market for sellers and an urgency for buyers aiming for this sought-after segment.
Westwood, 90024 Real Estate Market
Whether you're in the market for a high-rise luxury condo with stunning city views or a sprawling estate nestled in the quiet streets of Westwood, the data paints a picture of opportunity. The key takeaway? This is a market where informed decisions can lead to prime investments. Price adjustments have occurred in both segments, with decreases noted in 27% of condos and 44% of single-family homes. Yet, this is no cause for alarm; it's a natural ebb and flow in a dynamic market landscape.
Westwood continues to be where the discerning buyer can find value and luxury. The variation in days on the market and price adjustments speak to a nuanced marketplace where we can guide you to your ideal property.
Bottom Line
Acting with information and agility is essential for those ready to explore Westwood's possibilities. With the proper guidance and a keen eye on the market’s pulse, securing a piece of this coveted Los Angeles enclave is within reach. Whether it's the condo lifestyle or the grandeur of a single-family home, Westwood's market is ripe for the savvy investor or the dream home seeker.
Please contact us for personalized guidance when buying or selling your Westwood home. Knowledge is power, especially in real estate, and we're committed to providing you with the latest information and insights. Every city has its nuances, and with our deep understanding of local regulations and disclosures, we'll navigate you smoothly to a successful closing. Please let our expertise help you make the most informed decision for your needs.