First quarter approaches the finish line…..

The first quarter of 2010 is sure to be better than the first quarter of 2009 and the month of February is no exception. Fifteen of the markets we study had better February’s than they did in 09. Fourteen markets showed an increase in median sales price. This is good news. Why, because the mix of properties sold is moving to a higher price range.

The average price per square foot was also up in sixteen of the micro markets we watch.

We are still in a very price sensitive market and it appears we have hit bottom from what we see and are hearing on the street. There is a bottom for every home and when the price reaches the sweet spot we are often receiving multiple offers.

Playa Vista was particularly strong in February with sales volume up over 400% and the number of transaction up 300%. Sunset Strip also had a stellar month with sales volume up 254%.

Please click the links below to download:

Los Angeles February 2010 Condos Micro Market Report

Los Angeles February 2010 Single Family Homes Micro Market Report

Filed under: Micro Market Updates on March 15th, 2010