Coldwell Banker: Sunset Strip Market Update
In Area (3), Sunset Strip – Hollywood Hills West, October sales were down 11% and Days on Market increased 26% when compared to October 2013. Median price is up 30% compared to last October with reports that price increases are slowing.
In Area (10), West Hollywood, we had 53% fewer sales compared with October 2013, while Days on Market jumped 28%. Median price dipped slightly compared to last year. For West Hollywood condos, Sales Volume, Days on Market and Median Price were all very similar to last October.
In October, our office had 11% fewer new listings than the previous month. Multiple offers are common, especially for fixers; one agent had 28 offers on a probate listing (no court confirmation) in Area 19.
By: Tony Papillo
