About Los Angeles' Century City

Century City- Westwood Condominium Market Report for January 2012

Century City-Westwood Condominium Market Report for January 2012 while a bit late for me, never the less it is published before the main stream media’s data comes out. While the short term economic picture may be mired with uncertainty many indicators point to the financial strength of most companies, hence that will translate to consumer confidence and ultimately will reduce the high unemployment figures. That of course will help the Real Estate Activities. That in turn will help the economy.

So with that said let me recap December 2011’s numbers as well as January 2012’s so we can properly see the trends:

December’s Statistics were as follows: There were 247 Active listings on the Market waiting for a buyer in Westwood-Century City. There were 24 Properties Accepting Backup Offers and 2 on Hold (an indication of Short Sale) and there were 24 Properties Pending waiting for Escrow to Close. There were 43 Sold Condominiums for the month of December in Westwood – Century City.

January’s Statistics were as follows: There were 243 Active listings on the Market waiting for a buyer in Westwood-Century City. There were 17 Properties Accepting Backup Offers and 2 on Hold (an indication of Short Sale) and there were 33 Properties Pending waiting for Escrow to Close. There were 34 Sold Condominiums for the month of January in Westwood – Century City.

There has been an increase in the Pending Status; hence I am wondering is the decrease in closed transaction due to Lenders taking longer with the Approval Process? I am just thinking out loud.

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me call at 310.486.1002 email me at homes@endrebarath.comor visit one of my websites at http://www.endrebarath.comYour Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.

If you are considering buying or selling a Century City condo, then it is time to check out the market so far this
year.

Let’s see what has been going on.

All information from the CLAW/MLS is deemed reliable but not guaranteed

The Century City Condo market is pretty stagnant, and definitely a buyers’ market except for Century Woods.

So if you are thinking of buying a condo in Century City, now is the time.

Previous Century City Market Reports

Century City Condos Half Yearly Market Report
Century City Condos – Market Report February 2011
Looking for a Century City Condo? How is the Market Doing?
Century City Condos Century City Real Estate Report

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Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.

Read more: http://www.homejane.com/century-city-condo-sales.html#ixzz1cBmyZOcV

Let's see how Century City Condo sales have fared over the first half of 2011.

All information from the CLAW/MLS is deemed reliable but not guaranteed

*The Century sells in-house and the MLS does not have access to updated information.

**Century Park East complex information coming soon.

Overall the Century City condo market is pretty stagnant and very much a buyers' market. Let's hope we see some movement in area soon.

Related Posts

Century City Condos - Century City Real Estate Report

Century City Condos - Market Report February 2011

Looking for a Century City Condo? How is the Market Doing?

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you're new to L.A. Town. You'll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs! When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available. If you are an absentee owner, you'll need someone to handle all the details that you can't handle remotely. That's where I come in - I'm there when you can't be. I also specialize in lease property in Los Angeles. Westside Los Angeles Real Estate, including, but not limited to:

• Westwood Real Estate - Westwood single family homes, Westwood condominiums, Wilshire Corridor condominiums, Century City condominiums
• Brentwood Real Estate - Brentwood single family homes, Brentwood condominiums
• Santa Monica Real Estate - Santa Monica single family homes, Santa Monica condominiums
• Beverly Hills Real Estate - Beverly Hills single family homes, Beverly Hills condominiums
• Culver City Real Estate - Culver City single family homes, Culver City condominiums
• Palms/Mar Vista Real Estate - Palms/Mar Vista single family homes, Palms/Mar Vista condominiums
• Silver Lake Real Estate - Silver Lake single family homes, Silver Lake condominiums
• Echo Park Real Estate - Echo Park single family homes, Echo Park condominiums

For more information on how I can best serve your Los Angeles real estate needs, please fill out the online contact form or give me a call at 310-473-6919.

Century City Condominium Market Report for the Month of April, 2011

I have decided to give a little Geographical clarification for my readers who are not familiar with Century City. The actual site is about 176 acres of residential and commercial properties on the Westside of Los Angeles. The boundaries are Westwood on the west Beverly Hills on the north east and Cheviot Hills and Beverlywood on the southeast. That is the true geographical Century City.

Now for Real Estate Purposes we include Westwood as well, hence the boundary becomes West Los Angeles on the West and Brentwood on the Northwest, hence the Geography Stretches for the Real Estate search parameters a great deal.

The true Century City will have landmarks such as high-rise buildings on Avenue of the Stars Century Park East and the blending of high-rise buildings on Wilshire Boulevard in Westwood will be included in these statistics.

Now with that said let us look at how the month of April's numbers turned out:

There were 287 Active Condominiums on the Market for Sale compared to the previous months of 291.This does not seem to be that much different still a number we need to monitor.

This month there were 39 properties what were accepting Backup Offers compared to the previous months 22. This is significantly higher and noteworthy.

There were 5 on Hold Status vs. 0 the previous month an indication of Short Sale activity waiting for Lender approval.

The Sold numbers are very interesting for this month there were 43 Sold vs. the previous months 38. This is equally significant. This is an indication of a positive trend and a sign that the Spring Market is in full force. Let's hope this trend continues.

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.

Century City Condominium Market Report for March 2011

As most of you know who read my Blog regularly, I monitor and report on Three Beach Communities' Condominium Markets. They all were very busy during the month of March. So I am very interested how this Micro Market did for the month of March.

As I mentioned last month that Credit has loosened up a bit and consumer confidence is on the road to recovery. Keep in mind it is still a very fragile confidence and as long as there are factors which create fear, these factors can derail this recovery. Some of these are the Middle East, the after effects of the Japanese Tsunami and I could go on and on. Although I mentioned that existing home sales have improved due to Lenders loosening up the Credit a bit, keep in mind that over 30% of all sales are still "All Cash" transactions. That is a classic tell tale sign that that the mortgage market has not recovered yet. This in turn affects existing home sales by fewer Loan Approvals and more Stringent Underwriting requirements.

So with that said let's look at the actual numbers and see how they compare to February of this year.

There are 291 Active Condominium listings in Century City compared to the previous month's 271, which is a large increase from the previous month.

By now my regular readers will say that I will mention how important it is to have a good inventory. The larger the selection is, the larger the sales numbers will be, if buyers have a good selection of homes to pick from, than they can make intelligent decisions. At the same time it will keep the List Price and Sold Price at a reasonable level. Sellers will not have unrealistic expectations and buyers and sellers can negotiate a fair price for both parties.

There were 22 properties accepting Backup Offers compared to the previous month of 31 properties. This is a substantial decrease. There were 23 Pending compared to the previous month's number of 38 .

Do not put too much stock into that number, because April is just beginning and we could get a large volume of Pending in the next three and a half weeks.

The True Tell Tale number is always the SOLD. That is actual closed transactions. For the month of March there were 38 closed transactions compared to the previous month of 26. So if this trend continues to improve ultimately this will help the bigger picture of Economic Recovery. I will look forward to the continuation of this positive trend.

So with that said the Century City Condominium market fared very similar to the Beach communities of Marina Del Rey, Playa Del Rey and Playa Vista. All four areas have show a substantial increase in SOLD transactions.

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organisations.