Existing Home Sales Rise on the Westside of Los Angeles from November to December

by GibsonIntl on February 2, 2010 in General, Westwood-Century City

Contrary to the article released by The Wall Street Journal last week (orginal article) which stated that existing homes sales dropped 16.7% nationwide, the Westside of Los Angeles actually saw an upswing in existing home sales and new construction home sales. While prices did drop 0.4% from November to December for existing home sales and 18% for new construction, both units and volume increased. That is right on target with Gibson International’s sales volume in December which had its best sales month since its inception in June 2008. Gibson International agents reported an abundance of multiple offers, strong open houses and serious buyers despite the holiday season and low inventory.

Information based on the following areas***: Areas: (1) Beverly Hills — (2) Beverly Hills Post Office — (4) Bel Air – Holmby Hills — (5) Westwood – Century City — (6) Brentwood — (7) West L.A. — (8) Cheviot Hills – Rancho Park — (9) Beverlywood Vicinity — (11) Venice — (12) Marina Del Rey — (13) Palms – Mar Vista — (14) Santa Monica — (15) Pacific Palisades — (28) Culver City — (29) Westchester — (31) Playa Del Rey — (39) Playa Vista