Monday April 11, 2011

Your Local Executive WEST HOLLYWOOD, CA

Summary Condos - Townhomes - TICs

This Week
Real-Time Market Profile Trend
Median List Price $ 575,000 ==
Asking Price Per Square Foot $ 456 ±+
The median list price in WEST HOLLYWOOD, CA 90069 - West Average Days on Market (DOM) 152 ±+
Hollywood this week is $575,000.
Percent of Properties with Price Decrease 49 %
Percent Relisted (reset DOM) 70 %
With inventory and days-on-market basically unchanged and the
Market Action Index decreasing, the market is not sending strong Percent Flip (price increased) 2%
directional signal for the near-term outlook. Median House Size (sq ft) 1264
Median Number of Bedrooms 2.0
Median Number of Bathrooms 2.0
Market Action Index Strong Buyer's 15.1 ≠≠

Supply and Demand

In terms of supply and demand, the market is getting cooler - more
supply is coming on the market relative to the sales demand.
However, in recent weeks prices have been moving higher. Since it is
technically a Buyer's market, this price trend may be a result of
improved quality (newer, larger homes) of the homes being listed.
Look at the descriptive statistics where you may notice the homes
being listed are larger and younger than they have been in the past.
Market Action Index
±+ No change == Strong upward trend ≠≠ Strong downward trend
= Slight upward trend ≠ Slight downward trend
Price
The market for this zip code continues its bounce again this
week. We're a long way from the market's high point so watch
the Market Action Index to predict how long this trend will last.

Price Trends

7-Day Rolling Average 90-Day Rolling Average Buyer/Seller Cutoff

The Market Action Index answers the question "How's the

Market?" by measuring the current rate of sale versus the
amount of the inventory. Index above 30 implies Seller's
Market conditions. Below 30, conditions favor the buyer.

Quartiles
7-Day Rolling Average 90-Day Rolling Average

Characteristics per Quartile Investigate the market in quartiles -

where each quartile is 25% of homes
ordered by price.
Quartile Median Price Square Feet Beds Baths Age Inventory New Absorbed DOM

Top/First $ 1,195,000 1672 2.0 2.2 46 42 4 1 187 Most expensive 25% of properties

Upper/Second $ 649,000 1450 2.0 2.0 30 43 5 0 158 Upper-middle 25% of properties

Lower/Third $ 495,000 1113 2.0 2.0 41 43 2 2 111 Lower-middle 25% of properties

Bottom/Fourth $ 279,900 688 1.0 1.0 42 43 2 2 153 Least expensive 25% of properties

Pickford Escrow

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