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Hows The Market In Westwood? | YTD 2011 vs 2012 |

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Hows The Market In Westwood?
 
 
SOLD STATISTICS
Westwood Single Family Homes

Comparing YTD (1/1-5/22)
2011 vs. 2012
2011
2012
% Change
Median Sales Price
$1,143,000
$1,207,500
+6%
Average Sales Price
$1,332,284
$1,393,740
+5%
High Sales Price
$3,400,000
$3,850,000
Low Sales Price
$718,000
$571,000
Price Per Sq Ft
$557
$583
+5%
Average Days On Market
65
40
-38%
# of Sold
50
75
+50%
SP/LP
95.85%
98.11%
+2.26%

We are almost half way through the year and the Westwood single family home market continues to outperform 2011 in almost all closely watched statistical categories. Other than both average and median price both being up, the most notable differences are the significant drop in days on market of 38% and an increase in sales by 50%. The SP (Sales Price/List Price) is up 2+% as we are seeing many homes driven up in price by multiples offers all over town. Low inventory and strong buyer demand has helped drive these increases. Currently, there is only a 2.7 MSI (Monthly Supply Inventory). Under 6 months of MSI is widely considered to be a seller's market.




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.