December 2013
Property Sales
December property sales were 25, down from 33 in December of 2012 and 56.3% higher than the 16 sales last month. December 2013 sales were at a mid level compared to December of 2012 and 2011. December YTD sales of 245 are running -6.1% behind last year's year-to-date sales of 261.
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Prices
The median sales price in December was $2,330,555, up 1.3% from $2,300,000 in December of 2012 and up 11.9% from $2,082,500 last month. The average sales price in December was $3,850,431, up 10.7% from $3,478,828 in December of 2012 and up 33.3% from $2,888,528 last month. December 2013 ASP was at highest level compared to December of 2012 and 2011.
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Inventory & MSI
The total inventory of properties available for sale as of December was 49, down -30.0% from 70 last month and down -21.0% from 62 in December of last year. December 2013 Inventory was at the lowest level compared to December of 2012 and 2011.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2013 MSI of 2.0 months was at a mid range compared with December of 2012 and 2011.
Market Time
The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer's market, a downward trend a move towards more of a seller's market. The DOM for December was 52, down from 54 days last month and down from 92 days in December of last year. The December 2013 DOM was at its lowest level compared with December of 2012 and 2011.
Selling Price Per Square Foot
The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the 'mix' of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The December 2013 selling price per square foot of $850 was up 1.9% from $834 last month and down -5.0% from $895 in December of last year.
Selling Price vs Listing Price
The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer's market exists, a ratio at or above 100% indicates more of a seller's market. The December 2013 selling price vs list price of 97.0% was down from 98.7% last month and up from 95.2% in December of last year.
Latest Listings:
Check out the latest Brentwood real estate listings for sale (in real-time, directly from the MLS) at: http://www.santamonica-realestate.com/idx/community/brentwood/
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Based on information from California Real Estate Technology Services for the period 1/1/2005 through 12/31/2013. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS's may not reflect all real estate activity in the market. This information will expire 30 days from when it was generated.