March Market Report + Neighborhood News - 3.12.2010
March 12, 2010 – 8:15 amThe Playa Vista condo resale market continues to be very lively with only 30 active condo listings remaining in inventory. Attractively priced properties appear to leap onto the market, quickly receive offers then, and immediately go pending within the first two weeks. On Sundays, open houses draw in dozens of potential buyers as the Spring market, usually one of the busiest buying seasons, gets a head start. For example, last week, a 1,300 square foot, short sale condo was listed on the market for $399,900. The listing agent clearly used pricing as the chosen strategy to attract buyer’s attention. It worked. Just one week after the townhouse held its first broker’s open house, the owner received an amazing 16 offers. Needless to say, the property is now pending in escrow with one lucky buyer. In the previous newsletter, I reported about the March 3rd meeting in Playa Vista among Councilman, Bill Rosendahl, ...