Price Declines and Lack of Sales Lead to Weak Sales Volume

Despite quite a few multiple offer situations in the lower price ranges on the Westside and stronger sales activity this summer, year to date sales volume is still incredibly weak compared to 2008. Per the MLS, please find the sales volume data for selected areas below for single family homes.

VENICE

$153,652,525 (2008)

$91,059,600 (2009)

-$62,592,925 (-40.74%)

BEVERLY HILLS

$445,558,325 (2008)

$289,248,000 (2009)

-$156,310,325 (-35.08%)

SANTA MONICA

$348,559,386 (2008)

$250,309,835 (2009)

-$98,289,551 (-28.20%)

PALMS – MAR VISTA

$169,192,186 (2008)

$122,798,275 (2009)

-$46,393,911 (-27.42%)

MALIBU BEACH

$177,203,000 (2008)

$133,293,685 (2009)

-$43,909,315 (-24.78%)

PACIFIC PALISADES

$454,723,597 (2008)

$349,596,775 (2009)

-$105,126,822 (-23.12%)

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