About Los Angeles' Palms

It's time to take a look at the Palms|Mar Vista housing market. In our local MLS the two areas are joined and splitting them would not show an accurate picture.

The important figures to look at here are the number of homes sold per month and the existing inventory. If there is more than six months' worth of inventory this designates a buyers' market, less than six months a sellers' market and around six months it balanced.

Median shows the middle price range, i.e. half the homes sold above that price and half below.

Average days on the market really is not accurate since one house sitting on the market for a while or one selling quickly is going to skew the numbers somewhat. Unfortunately, the only numbers we get are the average.

So let's see what's been happening in the Palms and Mar Vista real estate market to date.

Single family homes sales in Palms|Mar Vista are strong, with low inventory and sale price to list price reasonably high. Days on the market are also excellent.

Palms|Mar Vista condo sales, are also doing well. The inventory is low and sales to list price close. Days on the market are also good.

Overall the Palms|Mar Vista real estate market is a healthy one with the median price in both condos and single family remaining fairly steady.

Previous Palms|Mar Vista Market Reports

Palms and Mar Vista Real Estate Market Trends - May 2010

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The Palms and Mar Vista housing report statistics below are taken from the MLS CLAW and are for single family homes only. They do not include condos, income property, or private sales.

Home sales in Palms and Mar Vista, show continued growth in May, with buyers taking advantage of the federal tax credit which expired at the end of April, but allowed those under contract to close until June 30th. Also the California home buyers tax credits started on May 1st so many waited to take advantage of both. The number of homes sold was down slightly again over April, but the number of homes under contract was up by 200%. The median price was down slightly and the median sales price vs listed price took another upward spike. The number of days on the market for homes sold was up slightly. Palms is very much a Seller's market with around 3 months inventory. Another good month for the Palms area of Los Angeles.

Yes, the famous house at 3465 Tilden Ave. Westside Village Palms has sold.

The house went through several offers which failed to come to fruition through no fault of its own, and how has finally found its true owner.

The seller is extremely happy even after the disappointments of not-so-serious buyers and the new owner, a first-time home buyer is also very happy.

Typical for the first-time homebuyer, the new owner was overly concerned about minor matters and his agent had to nurture him thoughout the process, as did I, the listing agent.

When we were ready to fund a glitch came up with the lender and closing was delayed.

But finally 3465 Tilden Ave., Westside Village Palms has proud new owners with a little one on the way.

And I will miss the lemons in the backyard.

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Single Family Open Houses in Palms and Mar Vista, Sunday, May 9th - 2:00 - 5:00 p.m.

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The Palms and Mar Vista housing report statistics below are taken from the MLS CLAW and are for single family homes only. They do not include condos, income property, or private sales.

Home sales in Palms and Mar Vista, show a rosy picture for April, probably partly due to the federal home buyers tax credit due to expire at the end of the month. Althought the number of homes sold was down slightly, the number of homes under contract was up by 23%. The median price was up and the median sales price vs listed price took an upward spike. Also, the number of days on the market for homes sold was down. All in all, a good month.

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