If you look at the market update provided by Altos Research, you can see that the Median list price for condos and Town homes in Santa Monica is $792,000 and the average days on the market is 34 days. If you look over at area code 90025 (Westwood), there is a slight difference..Median list price for condos and town homes in the $739,000 range, with an average of 65 days on the market. Why the difference? Location! Santa Monica has a lower inventory and a higher demand, resulting in low number of days on the market and higher list prices. 

What to do in these current conditions:

1. Act fast, interview agents and pick one to work with. Your agent will keep you up to date on new listings, and set up  viewing appointments for the homes your interested in before other buyers.

2. Get your ducks in a row. Make sure to have your pre-approval done and ready to go if you are financing. If you are purchasing your new home with all cash, then make sure your proof of funds are ready to be provided with your offer.

3. Keep your head up and do not get discouraged! 

 

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Los Angeles 90025

 

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Market Update August 28, 2014

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