West Hollywood, CA

West Hollywood - Single Family Houses Sold in January 2010:

Market Report for January 2010:

Average Selling Price: $1,197,700

Average List Price: $1,358,000

Median Price: $1,012,500

Total Sold in Dollars: $11,977,000

Number of Homes Sold: 10

Lowest Price Sale: $620,000

Highest Price Sale: $2,150,000

Average Days on the Market: 179

MLS Information deemed reliable but not guaranteed.

There are great opportunities for astute Realtors in the current Real Estate Market.

I was recently contacted by a large property investor interested in taking over a new condo development that has run into financial difficulties.

The project is complete and has been on the market for over two years .... and the majority of units remain unsold.

The units are currently grossly overpriced.

I prepared a realistic analysis of the project and recommended new List Prices that I believe the market can absorb in the current economic environment.

My proposed prices were on average 30% lower than the current List Prices.

I was concerned about the investors reaction to my proposal.

To my pleasant surprise, the investor confirmed that my pricing was perfectly in line with his, and that his company was proceeding to finalize negotiations on acquiring the development. I was being considered to be awarded the listing of the unsold units with a new market value of almost $30 Million.

Now this is great business for me to take care of over the next 18 months.

What stunned me was

West Hollywood Condos sold in January 2010:

Market Report for January 2010: (December/November/October/September/August)

Average Selling Price: $599,000 ($580,000 / $652,000 / $514,000 / $523,000 / $509,560)

Average List Price: $628,000 ($609,000 / $685,000 / $591,000/ $539,300 / $538,774)

Median Price: $510,000 ($550,000 / $485,000 / $462,500 / $494,500 / $450,000)

Total Sold in Dollars: $13,170,000 ($9,859,000 / $15,008,000 / $14,386,000 / $12,551,000 / $15,796,000)

Number of Units Sold: 22 (17/23/28/24/31)

Lowest Price Condo Sold: $270,000 ($315,000 / $243,000 / $235,000 / $230,000 / $299,000)

Highest Price Condo Sold: $1,555,000 ($1,185,000 / $1,775,000 / $1,200,000 / $835,000 / $880,000)

Average Days on the Market: 125 (101/98/68/107/93)

MLS Information deemed reliable but not guaranteed.

West Hollywood Condos Open Houses - Sunday 2/7/2010 (1:00pm - 4:00pm)

If you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me:

Stewart Penn - Penn Properties - (310) 866-1818 - stewart@pennpropertiesla.com

600 N Sweetzer Ave - $1, 619,000 (Listed by Eric Ross)

751 Fairfax Ave #2 - $751,000 (Listed by Keller Williams Sunset)

851 N Kings Rd #210 - $685,000 (Listed by Choice Realty)

1322 N Detroit St #3 - $539,000 (Listed by Deasy Penner & Partners)

911 N Kings Rd #212 - $469,000 (Listed by Coldwell Banker Sunset Blvd)

838 N Dohency Dr #503 - $450,000 (Listed by Sotheby's Sunset)

1015 N Kings Rd #208 - $$469,000 (Listed by Prudential California)

Information from the CLAW MLS is deemed correct but not guaranteed. Photos courtesy of the CLAW MLS.

West Hollywood Open Houses - Sunday 2/7/2010 (1:00pm - 4:00pm)

Single Family Houses:

If you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me:

Stewart Penn - Penn Properties - (310) 866-1818 - stewart@pennpropertiesla.com

427 Westbourne Dr - $2,349,000 (Keller Williams Sunset)

811 Huntley Dr - $1,950,000 (Keller Williams Sunset)

729 N Stanley Ave - $925,000 (Coldwell Banker Beverly Hills)

733 N Vista Street - $849,000 (Coldwell Banker Sunset Blvd)

Information from the CLAW MLS is deemed correct but not guaranteed. Photos courtesy of the CLAW MLS.