March 28, 2008

How Are Playa Del Rey Condo Sales Doing?

How ’bout them condominiums? Are they still selling? Yes, they are. I did an inventory count and there are five properties that sold in the last three months - everything from a one-bedroom, one-bathroom to a two-bedroom, three-bathroom property. Currently, the Playa del Rey condos are on the market for an average of 66 days. That’s not too bad, considering the current housing situation. There are currently 22 condos for sale. Three of these babies are parked right by the beach and in the million-dollar plus range.

Let’s look at an example of something more affordable. 8512 Tuscany Ave., #214 sold in mid-January of this year for $505,000. A little ways back, #212 sold in the same building for $505,000 also, in case you want something to compare to. Let’s see how the owners of #214 fared. They first listed the two-bedroom, two-bath place in mid-November for $519,000. The square footage is 1,140 for both #212 and #214, by the way. Yippee-skippee for the owners of #214. They didn’t have to drop the price at all (they priced it fairly well) because along came a buyer in early December to snatch it off the market. Yep. Pricing is key. And judging by the photo they had of the interior, the owners had taken the time to clean up the place and put it in good move-in condition.