068. Supply & Demand for Westside Communities of Los Angeles

Welcome to the Reside Daily Bite; I’m your host, David Doucette and today we have our weekly market report and we’re going to look at the 6 communities of Santa Monica, Westchester, Mar Vista and Palms, Venice, Culver City and West Los Angeles.

And the chart we’re going to look out today is called the “Supply and Demand by Month” and we are going to look at the last 12 months of history.

So, let’s start over here at September 2010. Last month there were 618 homes for sale and 92 homes sold.

Let’s take a look at where we were last year in September; we have 594 homes for sale and we had 108 homes sold in September 2009.

So you can see here the number of homes that have sold (you can follow my cursor across), it’s a little bit up and down; been hovering around the 100 homes per month. Certainly, last January and February, it’s down to about 50 homes per month. Then it is slowly climbing from March, April, May, June, where it was over a hundred units a month. And then in July, August, it started to dip. In September, it’s a little more than August. Be curious to see what happens in the coming months.

And as for the units for sale (the homes for sale), you can see as you follow my cursor, we dipped in December, January, February -which is typically the slower time; we see less activity. Then as summer approaches, you can see a lot more homes are coming on the market and now that’s starting to dip again.

Traditionally we’ll see over the coming months, fewer homes come on the market but with the state of things now, I’ll be curious to see what happens.

That’s our Supply and Demand by Month for today’s Reside Daily Bite. I’m your host, David Doucette, thank you so much for checking us out.

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