David Luke's (dluketherealtor) Blog

Here's the data for November:Single Family Residences:New Listings: 10Price Reductions: 8Pending Sales: 11Homes Sold: 15The numbers reflect a solid market for single family homes as inventory is at 2 1/2 months.Condominiums:New Listings: 42Price Reductions: 23Pending Sales: 35Condos Sold: 31The c...

Here's what transpired in Westwood, CA:Single Family Homes:   New Listings 11 Price Reductions 5 Pending Sales 18 Homes Sold 15  There's a 10-month inventory of homes. Condominiums:   New Listings 60 Price Reductions 25 Pending Sales 34 Condos Sold 29 Many owners decided to put their condos up fo...

Here's how the market shaped up in September:Westwood, CA Single Family Homes:    New Listings 11 Price Reductions 9 Pending Sales 23 Homes Sold 17  There's just under 4 months of inventory.  Westwood, CA Condominiums:  New Listings 57 Price Reductions 33 Pending Sales 32 Condos Sold 25 In antici...

Things are heating up in Westwood, CA!Single Family Homes:  New Listings 15 Price Reductions 11 Pending Sales 10 Homes Sold 21  Condominiums:    New Listings 47 Price Reductions 18 Pending Sales 24 Condos Sold 27  

Is there a rationale to price reductions?That depends on who you ask.The frequency of price reductions is really about the listing type.  In a short sale or bank-owned property, it's not uncommon for the list price to be reduced once a month until there's an offer.  In a retail sale, however, it ...