Westchester Real Estate Market Analysis

According to information provided by one of our favorite Westchester real estate experts, Diana Hobson, this is how real estate values are holding up in our 90045 neighborhood since May:

• 50 listings sold (note this is 50 listings over three months and there are currently 92 homes listed on the market in Westchester 90045)
• Average days on market are 48
• Average price per square foot of home is $482 (list price) and $464 (sold price)
• Average price per square foot of lot is $119 (list price) and $114 (sold price)
• Homes are selling at approximately 96% of list price

What does all this mean? Homes for sale in Westchester 90045 are taking almost two months to sell (and don’t forget to factor in another 30-60 days to close escrow), and sellers are taking offers slightly below their asking price. I have to guess also (since I haven’t reviewed more than three months of data) that these numbers are trending toward a longer period of time on the market, judging from the fact that only 50 houses moved in three months, yet over 90 are currently on the market.

Are you thinking about buying or selling real estate in Westchester 90045? Let us introduce you to competent, skilled, knowledgeable Westchester real estate experts. We make it our business to follow real estate trends in 90045, and to know who the best Westchester realtors are. Contact us for more information and an introduction.

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