We have yet another crazy shortage of inventory here in the Hollywood Riviera again. Currently there are only 7 homes for sale here. The lowest priced home is $1,099,000 on Via Valmonte and the most expensive one is $2,699,000 which is a beautiful, newer home built in 2004 on Camino de las Colinas.
There are 15 houses in escrow – double the number of homes for sale. That is the real proof of low inventory situation – homes that are priced well and in good condition are selling and they are selling quickly, often with multiple offers and the average price is up quite a bit over last year. The average pending price of single family homes in the Hollywood Riviera neighborhood is $1,249,733. The lowest priced home in escrow is $799,000 on Susana in the 90505 section of the Riviera. The most expensive home currently under contract is $2,280,000 on Via la Selva (90277) – a larger home with amazing ocean, city and mountain views!
As far as what’s sold here in the Hollywood Riviera so far for 2016, there have only been 19 properties – which includes 3 condos in the $650,000 price range, 2 townhouses in the $900,000 price range and 14 Sold single family homes in the Hollywood Riviera that had an average sales price of $1,142,913. The least expensive single family home to sell here in the Hollywood Riviera so far for 2016 is $731,025 (which was more than its list price of $729,000.) And the most expensive home to sell this year in the Riviera was $2,210,000 (also higher than its list price of $2,200,000.) As you can see, every price range is receiving multiple offers driving prices above their list prices – the equation is simple: Price well + Good Condition = Multiple Offers/Top Dollar
Feel free to give Kelly a call today and she can come help you prepare your home for a Top Dollar Sale! (310) 613-2465.
