Beverlywood Area Market Update for October 2014

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Beverlywood Market Report by Dan May
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A total of 16 homes sold in the Beverlywood and Adjacent are of Los Angeles, CA during the entire month of September 2014 compared to 20 last month and 16 in September 2013. The single family homes that sold took an average of 57 days, compared to an average of 55 days the month prior, and sold for 100.28% of their asking price at an average of $591.40 per sq. ft. Currently, there are 30 Single Family homes for sale, compared to 33 last month, and 35 this time last year and 35 two years ago. For Sale homes have been on the market for an average of 64 days with a median price of $949,000 and an average of $1,198,530. The MLS shows there are currently 36 Single Family homes in escrow. Analysis: Inventory decreased another 10% this month and 30% in 2 months, from 43 down to 30 and is likely to remain low through year end. 36 more in escrow confirms strong buyer demand continues.

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