Westwood Home Sales Slowing Down

As of March of this year, single-family home sales in Westwood ZIP 90024 had remained relatively unaffected by the overall housing market.  In mid-March, home sales vs. homes sold were nearly even: There were 19 homes for sale in 90024, plus 17 that had sold in the previous three months.

Today, there are 23 homes for sale in 90024, and 11 homes sold in the last three months — twice as much inventory as sales.

Furthermore, the gulf between listing prices and sold prices has widened.  In March, the average sold price was higher than the average listing price.  Today, the average listing price is $2,295,000, compared to an average sold price of $1,477,000.

Condo sales in Westwood have been soft for some time and remain so. But the slowing of single-family home sales is new, and may be connected to an overall softening of sales of higher-priced homes.

Here are some homes on the market:

924 Thayer Ave.
$2,199,000
4BR/4.5B/3,407 square feet
History: Came on the market Feb. 15 for $2,299,000.

1435 Crestview Court
$1,700,000
4BR/4.5B/3,792 square feet
History: Came on the market in January for $2,150,000; reduced to $1.9 million in April; reduced to its current price May 15.

10446 Wilkins Ave.
$1,445,000
3BR/3B/1,678 square feet
History: Came on the market March 18 for $1,545,000; reduced to its current price April 5.

10632 Ohio Ave.
$1,295,000
3BR/2.5B/1,933 square feet
History:  Listed for $1,495,000 on Jan. 25; reduced to $1,325,000 Feb. 21; reduced to its current price May 3.