Checking the Hot Sheet today shows me that there were 15 NEW Residential Property Listings* put on the marketranging from a $219,900 Condo in Woodland Hills to a $2.3m Single Family home in Studio City.
Additionally, there were 11 Closed Sales* as of this post (3:45pm). Closed sales range from a condo in Encino sold at $205,000 to a Single Family house in Sherman Oaks that sold for $3.8m.
Southern California has been a market to watch. Home prices swelled earlier in the decade only to drop as much as 20-30%+ over the last 9 months alone. With the flood of foreclosures and short-sales prices may continue to decline which really hurts those in the market to sell. However, it is a perfect time for First Time Home Buyers and Investors to pick up properties at huge discounts.
*information from MLS and includes the following cities: Van Nuys, Encino, Sherman Oaks, Studio City, Woodland Hills & Tarzana
