Health & Fitness
Palisades Real Estate Feb. 2012 Update: Video Edition
Palisades market update. A comparison between February 2011 and February 2012. Also word on the street, whats really happening with Palisades home sales.
Some good news for the Palisades.
Home sales are up 25% from 8 solds in February of 2011 to 10 in February of this year. Not huge but positive.
The number of current open escrows is down about 19% from 21 in February of 2011 to 17 in February 2012.
Find out what's happening in Pacific Palisadesfor free with the latest updates from Patch.
The average time on the market is down a nice 25% from 94 days in February of 2011 to 90 days last month. This is a good sign and indicates that the current low inventory level is supporting faster sales.
Speaking of inventory levels, the current level is down 25% from 168 in February of 2011 to 126 this February. This is always a good sign.
Find out what's happening in Pacific Palisadesfor free with the latest updates from Patch.
Although the numbers don't lie they don't show the whole picture. The developers and speculators are back full force and are buying anything that has a good upside, and multiple offers are again commonplace. The picture is improving.
Bill Kerbox is with Westside Estate Agency.
