ResalesWest Hollywood Home Sales Speeding Upward
Located between Beverly Hills and the main area of Hollywood, West Hollywood is close to the bustle of shops along the famous Melrose Ave and home to some of the finest restaurants in the city, says Realtor Laura Zajdman.
"West Hollywood homes," says Zajdman, "boast the fact that art galleries and a wide array of entertainment are a stone"s throw away from the neighborhood. Since its incorporation in 1984, West Hollywood has had a rich history of community diversity and activism. It is nationally known for being among the first to pass legislation on smoking, handguns, and other noteworthy issues.
The median price of existing homes in California in September increased 17.3 percent and sales rose 3.9 percent compared to the same period a year ago, says Zajdman.
West Hollywood Vicinity Condo/Co-Op SalesNovember 2002Average Price: $406,648 Median Price: $367,000 Average Days on Market: 30 Number of Houses Sold: 37 October 2002Average Price: $356,841 Median Price: $307,000 Average Days on Market: 47 Number of Houses Sold: 41 September 2002Average Price: $299,799 Median Price: $287,370 Average Days on Market: 28 Number of Houses Sold: 41 August 2002Average Price: $316,283 Median Price: $297,000 Average Days on Market: 25 Number of Houses Sold: 42 July 2002Average Price: $302,500 Median Price: $295,000 Average Days on Market: 32 Number of Houses Sold: 41 June 2002Average Price: $334,905 Median Price: $293,000 Average Days on Market: 27 Number of Houses Sold: 58 May 2002Average Price: $314,593 Median Price: $290,000 Average Days on Market: 30 Number of Houses Sold: 65 West Hollywood Vicinity Home SalesNovember 2002Average Price: $676,500 Median Price: $500,000 Average Days on Market: 32 Number of Houses Sold: 8 October 2002Average Price: $615,777 Median Price: $595,000 Average Days on Market: 42 Number of Houses Sold: 9 September 2002Average Price: $586,384 Median Price: $595,000 Average Days on Market: 32 Number of Houses Sold: 13 August 2002Average Price: $608,257 Median Price: $575,000 Average Days on Market: 30 Number of Houses Sold: 14 July 2002Average Price: $783,812 Median Price: $640,000 Average Days on Market: 38 Number of Houses Sold: 8 June 2002Average Price: $597,562 Median Price: $595,000 Average Days on Market: 31 Number of Houses Sold: 16 May 2002Average Price: $599,770 Median Price: $599,000 Average Days on Market: 50 Number of Houses Sold: 17
"The National Association of Realtors forecasts existing-home sales to rise 3.2 percent for all of 2002 to a record of 5.47 million units, followed by a historically strong 5.28 million sales in 2003. To a great extent, lower interest rates are offsetting the effects of uncertainty over the economy and international events," says Zajdman.
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