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Westwood Homes 3rd Quarter 2012 Report Card

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SOLD STATISTICS Westwood Single Family Homes Comparing 2011 vs. 2012 3rd QTR ONLY
2011
2012
% Change
Median Sales Price
$1,136,250
$1,267,500
 12%gt
Average Sales Price
$1,261,370
$1,437,524
14%
Average $/Sq Ft
$501
$616
23%
High Sales Price
$2,375,000
$3,845,000
Low Sales Price
$782,000
$609,000




# of Sold
44
49
11%
Sales Price/List Price
96.93%
98.62%
1.69%%

As you can see from up above, the third quarter of 2012 outperformed 2011 in all major statistical categories and it wasn't even close. I wanted to note that I left out an outlier sale in 2012, a $7m sale in Little Holmby that would have swayed the avg price into the $1.5 range. Because of the way days on market are reporting in the MLS, it's harder for me to give you the 'real' picture on how long it's taking to sell homes. But on average, homes are taking just over a month to sell in the marketplace. Well priced and attractive properties are selling much faster and often with multiples. Just last week a new listing in Westwood Hills on Denslow hit the market at $1.395 and received double digit offers. Currently, inventory levels are at just above 2 months, which is extremely low and is contributing to the 'seller's' type market we have been seeing.

That is the report card for the 3rd quarter for Westwood homes.... feel free to leave comments, your experiences in the marketplace, etc.. below. Would love to hear from you.