May 19, 2009 – Hollywood Riviera Real Estate Update

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May 19th already – the first half of 2009 is coming to a close soon.  As of today, there are 49 houses for sale – a large inventory.  It seems that since the spring has started the inventory has been increasing and this is the most inventory in this area we’ve had in a long time….it’s been going between 48 – 51 over the last couple of weeks.   Click here to see the current inventory of homes for sale.  The least expensive homes are $625,000.  One of which has been for sale forever on PCH but it now has some competition on Greenmeadows.  A nice little original at the end of a cul-de-sac.  Bring your hammer and paint brushes for this one.  There is a new one on Calle de Arboles that’s only $765,000 for a 4 bedroom, 2 bathroom – also in original condition.  A great price and I’mm guessing this one won’t last long.   Click here for the direct link to this good deal.  There are actually 12 houses for sale in the Hollywood Riviera area under $800,000 – now that’s a lot of good choices.  With the FHA limit up to $729,750 that could make one of these beauties a lot easier to qualify for.  Here’s the link to the 12 Hollywood Riviera real estate choices under $800K.

As for what’s in escrow here in the Hollywood Riviera – there are currently 10 houses pending sale – click here.  That number has increased over the past month so that is good news. 

Year over year sales are still lower than this time last year.  Since January 1st, 2009 there have been 16 homes SOLD with an average sales price of $971K.   Same period in 2008 shows that 22 houses sold with an average price of $1,175K.