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Hollywood Hill Real Estate News

January 21, 2013

Hollywood Schoolhouse

Neighborhood results for 2012’s real estate market have concluded and the predictions are rolling in.    I’m sure you’re hearing a lot of different opinions so I thought it best to give you the uncensored, unbiased statistics based on data from the NWMLS.   Drum roll please…..

End of year Homes for Sale :  12
Pending Homes:  5
Sold and closed homes:  64

The market on the hill proved to be a very solid one in 2012 with 64 homes selling priced between $339,000 and $1,395,000.    There were 5 homes sold over $1,000,000.
And the 2013 predictions appear to be just as strong with a few words of caution…..   The 2012 data showed an 11% increase in sales volume over 2011 with a small downward trend in values.  In essence, the volume picked up but pricing has not seen much of an increase.

The good news!  2013 will be one of inventory.   The absorption rate or buyer demand for homes remains so strong that the lack of inventory is trending towards a SELLERS market.     So, my prediction for 2013 is that seller’s will be able to expect a little more for their homes and we’ll see a continued recovery in the market with values starting to inch their way up again!   Happy 2013!

Lakeshore Realty West
Lifestyle Properties
Maureen Nolan – 206-200-9849

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