Hollywood Hill Real Estate News – April
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
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
Maureen Nolan – 206-200-9849