Sold, Sold, and Sold again

Sold, Sold, and Sold again ....

1277 S Beverly Glen #107, Los Angeles, CA 90024. It's not uncommon to resell a property within a few years, but I recently sold the same condo for a third time in 6 years which must be something of a record.

In 2003 I represented a Buyer who purchased the condo. It was listed for $425,000 and within 9 days (and after multiple offers being received) we were in escrow for $444,000.

In 2005 the Owner relocated for work reasons. I listed the condo for $719,000 and it sold for $710,000. This time around it took 63 days to sell.

In April 2009 I listed the condo for $629,000 and after 97 days it sold for $575,250.

This activity forms a clear picture of what happened to condo prices in Westwood/Los Angeles between 2003 and 2009:

2003: $444,000 - representing an increase of 137% of the prior Sale Price of $187,000 in 1996.

2005: $710,000 - representing an increase of 60% of the prior Sale Price of $444,000 in 2003.

2009: $575,250 - representing a decrease of 20% of the previous Sale price of $710,000 in 2005.

It will be interesting to see how a chart of these prices looks when the current owner ultimately resells the condo sometime in the future.