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Are More And More Sellers In Westwood Getting Realistic?

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If you have been out browsing open houses in Westwood over the last few months, I am sure you have noticed a busier like atmosphere compared to earlier in the year. It's not uncommon to see multiple offers now on homes priced under $1.5, in fact it's almost becoming a regular occurrence. The inventory level has being slowly declining since the beginning of the Summer where we were averaging around +/-80 listings at any one time. Now we are hovering around +/-40 active listings with almost 40 listings currently in escrow. Are more and more sellers being realistic these days with their starting asking price?...that's possible. At least the market data might be supporting that with the relatively shorter market times over the last 4 months. Sellers do have more evidence now of homes that started with unreasonable asking prices and have had to play the reduction game in order to sell, if at all. There obviously is enough buyer demand out there for this neighborhood and the evidence is supporting that if you price it competitively, its going to sell.

If you look below, I have listed all the homes in escrow that have been listed since August 1st 2009 (24) and also homes that were listed since August 1st and have since closed (13). The average days on market for the in-escrow listings is approx. 19 days. For the ones that have already sold, the average days on market is approx. 13 days. That's fairly speedy and reminiscent of the market several years ago.

Key
LP=List Price
BR=Bedrooms
BA=Bathrooms
DOM=Days On Market
LD=List Date






2151 MALCOLM AVE
$750,000
4
3.50
1
11/09/09
326 S GLENROY AVE
$1,599,000
4
3.00
3
11/06/09
256 S THURSTON AVE
$889,000
3
2.50
6
10/23/09
2110 SELBY AVE
$1,649,000
4
4.50
14
10/22/09
2017 MANNING AVE
$829,000
2
1.00
9
10/22/09
1933 WESTHOLME AVE
$1,595,000
4
3.50
12
10/22/09
2326 KELTON AVE
$749,000
2
1.00
8
10/15/09
2230 OVERLAND AVE
$949,000
3
1.75
7
10/15/09
10564 LAURISTON AVE
$989,000
2
1.75
3
10/14/09
2227 VETERAN AVE
$978,000
3
2.00
20
10/08/09
2351 MIDVALE AVE
$1,129,000
3
2.75
5
10/07/09
811 WARNER AVE
$1,750,000
3
1.75
12
10/04/09
10320 CALVIN AVE
$995,000
2
2.00
7
09/30/09
2054 MALCOLM AVE
$1,050,000
3
2.50
32
09/28/09
1948 PARNELL AVE
$2,099,000
5
4.00
48
09/18/09
2036 LINNINGTON AVE
$998,000
2
1.75
5
09/18/09
1943 PELHAM AVE
$1,350,000
4
2.00
15
09/18/09
1412 WARNALL AVE
$2,145,000
5
4.00
7
09/17/09
1610 S COMSTOCK AVE
$1,399,000
3
1.75
28
09/17/09
1545 CALMAR CT
$1,399,000
3
1.75
12
09/17/09
712 HOLMBY AVE
$2,995,000
5
5.00
49
09/17/09
10604 WELLWORTH AVE
$1,399,000
4
3.00
4
09/15/09
10822 ROCHESTER AVE
$1,295,000
3
2.50
4
09/14/09
10624 LINDBROOK DR
$1,875,000
5
5.00
0
09/10/09
10497 KINNARD AVE
$1,099,000
3
2.25
22
09/08/09
1700 ENSLEY AVE
$1,050,000
3
2.00
15
08/25/09
2142 GLENDON AVE
$899,000
2
1.00
25
08/24/09
2042 VETERAN AVE
$799,000
3
1.75
14
08/20/09
1918 WESTHOLME AVE
$2,595,000
5
5.50
44
08/20/09
2050 GLENDON AVE
$825,000
2
1.00
26
08/19/09
2106 MANNING AVE
$1,089,000
3
2.00
13
08/14/09
2360 VETERAN AVE
$739,000
3
1.75
8
08/13/09
10357 MISSISSIPPI AVE
$1,095,000
3
3.00
3
08/13/09
10701 Tennessee AVE
$1,250,000
4
2.75
7
08/11/09
104 S GLENROY Ave
$1,699,000
3
3.00
8
08/10/09
340 HILGARD AVE
$1,799,000
4
4.00
55
08/06/09
2316 OVERLAND AVE
$750,000
2
1.00
75
08/06/09