Just The Stats – Playa Del Rey

Back in October, I wrote a post that listed all the stats for homes on the market in Playa del Rey. I’m sure if you’ve been keeping up with our blog (or real estate in general), you’re well aware of the news about the housing downturn. I thought it might be kind of fun to check in on our community by the Pacific and see just how the sales are going.

(Drum roll please.)

According to Redfin, the average price of homes on the market is currently $1,650,000. Yes, you do pay to live by the ocean. The average price per square foot of homes? It’s $471/sq. ft. And homes are sitting on the market for a whopping average of 137 days….that’s four-and-a-half months!

So what does that tell us in comparison to just a few months back in 2007? Well, the current median prices have actually gone up a few hundred thousand. Over $200,000 actually. However, the price per square foot has dropped about $50/sq. ft. And yes, it’s a buyer’s market. (Duh!) Though apparently, not many folks are buying. Homes are sitting on the market over twice as long as they used to.

You can check Altos Research for their stats on Playa del Rey, too.