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Year-To-Date 2007 vs 2008 Sales Statistics For Westwood Single Famly Homes

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SOLD STATISTICS
Westwood Single Family Homes

Comparing Year-To-Date
2007 vs. 2008
2007
2008
% Change
Median Sales Price
$1,230,000
$1,344,000
+9.26%
Average Sales Price
$1,377,219
$1,588,386
+15.33%
High Sales Price
$3,210,000
$3,100,000
Low Sales Price
$830,000
$810,000
Sales Volume
$41,316,576
$34,944,500
-15.42%
Average Days On Market
66
27
-59.1%
# of Sold
30
23
-23.33
SP/LP
97.46%
98.09%
+0.63

Taking a quick glance at these numbers the median and average prices are significantly up in 2008 ytd vs 2007 ytd. Also the average days on market is almost 60% less this year so far. Sales price to list price is slightly up, meaning sellers are getting slightly closer to their asking price. In my last post I talked about how 1/3rd of all homes sold this year are over the sellers asking price. There has been 8 homes sold over asking so far this year. Last year at this same time only 5 homes got over asking price and thats out of 30 homes sold versus only 23 homes sold this year. Lastly, there are two categories that are down in the chart, sales volume and # of sales. Obviously its been documented all over the place that the sales pace is down just about everywhere in the county. With the tightening of the financial sector its made it difficult to get loans. This has put a damper on the total number of sales.

These stats include all areas of Westwood (90024, 90025, 90064).

Source: CLAW MLS -Information deemed reliable but not guaranteed. Market activity represents sales from all brokerages.