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Hollywood Hill Real Estate News – April

April 3, 2013

Hollywood SchoolhouseAnother  month is in the books!   March was another upward trending month for real estate on the hill.

Here are the latest statistics:

March Solds:  8 homes sold from $230,000 to $1,075,000

Year to Date Solds:  12 homes priced from $230,000 to $1,685,000

Active Listings:  12

Pending:  3

The active listings have an average list price of $1,071,492.   The lowest priced home on the hill is $458,800 today.     Two of the recent listings went pending in a matter of a day.

There was a notable change in the absorption rate for March.   In February, the absorption rate for Hollywood Hill was approximately ( 1.3).     A very strong sellers market.   In March, the absorption rate changed to ( 4 ) moving the market to a more neutral market.     This data change may reflect the seasonal trend for homeowners to list there homes for sale in Spring.      Happy house hunting!

*Absorption rate is the difference between active listings and pending.   Anything less than 3 is a “sellers” market.

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

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