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Health & Fitness

Pacific Palisades Real Estate Market Report

PACIFIC PALISADES REAL ESTATE MARKET ACTION REPORT:  SINGLE FAMILY HOMES OCT. 2013

Property Sales

October property sales were 22, up from 21 in October of 2012 and -15.4% lower than the 26 sales last month. October 2013 sales were at their highest level compared to October of 2012 and 2011. October YTD sales of 277 are running 21.5% ahead of last year's year-to-date sales of 228.

 

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Prices
The median sales price in October was $2,577,302, up 7.4% from $2,400,000 in October of 2012 and up 19.0% from $2,165,000 last month. The average sales price in October was $2,577,505, down -11.9% from $2,926,119 in October of 2012 and up 0.5% from $2,563,788 last month. October 2013 ASP was at the lowest level compared to October of 2012 and 2011.

 

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Inventory & MSI
The total inventory of properties available for sale as of October was 94, up 20.5% from 78 last month and up 8.0% from 87 in October of last year. October 2013 Inventory was at a mid range compared to October of 2012 and 2011.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2013 MSI of 4.3 months was at a mid range compared with October of 2012 and 2011.

 

Market Time
The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer's market, a downward trend a move towards more of a seller's market. The DOM for October was 63, up from 47 days last month and down from 65 days in October of last year. The October 2013 DOM was at a mid range compared with October of 2012 and 2011.

 

Selling Price Per Square Foot
The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the 'mix' of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The October 2013 selling price per square foot of $987 was up 33.0% from $742 last month and up 46.2% from $675 in October of last year.

 

Selling Price vs Listing Price
The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer's market exists, a ratio at or above 100% indicates more of a seller's market. The October 2013 selling price vs list price of 104.8% was up from 101.0% last month and up from 98.7% in October of last year.

CALL RYAN SCARZONE AT (310)488-0184 FOR ALL OF YOUR REAL ESTATE NEEDS!

Check out the latest Pacific Palisades real estate listings for sale at:  http://www.santamonica-realestate.com/idx/community/pacific-palisades/

 

RYAN SCARZONE

(310)488-0184

REALTOR

COLDWELL BANKER

BRE#01910272

 

© 2013 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Coldwell Banker Residential Brokerage is operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. BRE # 00616212

Based on information from California Real Estate Technology Services for the period 1/1/2005 through 10/31/2013. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS's may not reflect all real estate activity in the market. This information will expire 30 days from when it was generated.




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