Some of the highest priced homes in California are found among West Los Angeles real estate listings. It might seem that during an economy like we have today, real estate trends would be down across the board. However, the opposite is true according to Westside real estate statistics. Just looking at numbers comparing this past September with September 2008, we find the following trends.
- Bel Air Single Family Residences – The median sales price increased 19%.
- Brentwood Single Family Residences – Due to sharp seller price slashing, pending sales increased 420% over 9/08 reducing significantly reducing inventory.
- Brentwood Condos – The median sales price rose by 8%.
- Pacific Palisades Single Family Residences – 23% decrease in median sales price forced pending sales up 91%.
- Pacific Palisades Condo – The median sales price grew 20%.
- Santa Monica Single Family Residences – Pending sales went up 109%.
- Santa Monica Condo – Pending sales went up 28%.
- Westwood Single Family Residences – The median sales price grew 6%.
While foreclosures, short sales and fixer-uppers are not as plentiful here as they are in other areas of Los Angeles County, they are worth looking for in these areas.
