Health & Fitness
April 2012 Palisades Real Estate Update [Video]
The monthly Palisades Real Estate report in VIDEO. Comparing same time last year in VIDEO Word on the street in the Palisades Real Estate Market
The Palisades Real Estate market is alive and well. The number of new escrows is up 14% from same time last year with 24 pending sales. The number of homes sold last month was dead even with March at 18 but down 14% from same time last year. The inventory which is todays big market driver is down 23% over same time last year and down from 149 in March to 143 last month. The number of new listings last month was down 26% from same time last year and dead even from last month. Prices and time on the market are both reflections of inventory and the average time on the market last month was down 25% from same time last year and currently sits at 70 days for the avearge home to sell.
All in all we are experiencing a very strong spring market. There was just reported a sale here in the Palisades on upper El Medio that closed at nearly $700,000 OVER the asking price in multiple offers. If that is not a great indicator I don't know what is.
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