Hollywood, CA condos weren’t exactly flying off the shelves in July, 2010, but the good news is that condo sales for Hollywood have nearly doubled since this time last year. Fourteen (14) Hollywood, CA condos were sold in July of 2010, doubling last year's figure of only seven (7) condos sold in July, 2009.
Supply continues to outpace demand as buyers sit on the sidelines, waiting for the California real estate market to show strong signs of a turn in a positive direction. There were seventy-four (74) Hollywood, CA condos listed on the market for July of 2010.
The median sales price of Hollywood, CA condos continues to trend in a downward direction with the median ‘sold’ price for July, 2010 coming in at four-hundred seventy-two thousand five-hundred dollars ($472,500). Hollywood, CA condos were selling for around five-hundred and twenty-thousand dollars ($520,000), this time a year ago.
A positive indicator that shows that the Hollywood, CA condo market may be improving are the fact that condos in Hollywood, CA are selling nearly twice as fast as just a year ago. In July of 2009, Hollywood, CA condos were listed on the market for nearly 115 days, while last month’s figures reveal that Hollywood, CA condos were listed for a mere 50 days before finding a buyer.
Though pricing of Hollywood, CA condos has slightly decreased for the month of July, overall pricing trends are showing a little more stability. Buyers are making swifter decisions, leading to a more competitive market place and potential pricing and market stabalization to come for the months ahread. Please contact me if you would like more information about the real estate market in Urban L.A., or the Hollywood, CA condo market.
For a free list of homes for sale, please visit UrbanPulseProperties.com.
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