Los Angeles

Days on the Market Steadily Increasing in West Hollywood

As you can tell from this chart, the days on the market for active listings in West Hollywood have been steadily increasing for almost the last 6 months.  In fact, it has risen 40% during this time.  In a normal real estate market, listing prices would be falling as the length of time to sell a home increases, but this has not happened.  The median price per square foot has remained in a tight range over the past year, and during the last 2 months it has risen to $775 per square foot.

How does this benefit you?  Buyers could gain more leverage as sellers become more frustrated as the length of time to receive offers and sell their homes increase.  Home buyers are in a wonderful position to still purchase a home at prices that are 40% below their peaks.  Mortgage interest rates are still at historical lows.

If I can be of any assistance to you in buying or selling your home in West Hollywood, please contact me.