September Slow Down in the Hollywood Riviera real estate market?

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September Slow Down in the Hollywood Riviera real estate market?  Statistics don’t lie.  We can compare this September 2018 to last year at the same time 2017 and find that fewer single family homes have sold this year – 65 SFR homes have sold in 2018 vs 82 this time last year.

When we look at ‘pending’ or how many single family homes in the Hollywood Riviera neighborhood are in escrow – there are currently 6.  This time last year there were 14 homes in escrow last year.

The number of homes currently in escrow is a telling sign of what is currently happening, especially when combined with the currently Active or For Sale homes in the Hollywood Riviera right now.  There are 19 homes currently listed for sale in our MLS area 128 / Hollywood Riviera.  This time last year – September 2017 – there were only 8.  So our inventory has doubled and what is in escrow is less than half of what it was this time last year.

I would argue that there are many homes currently for sale that are over-priced and that doesn’t help the situation.

The word on the street would alert you to the fact that the market is ‘softening.’  The numbers above would seem to concur.

We shall see what happens as we continue the rest of 2018.

As always – staged homes that are priced well are still selling quickly!  If you want help with staging and pricing…give us a call!  Kelly & Laura

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