Brentwood, 90049 Latest Housing Data
Latest Snapshot Of Estate-Home Sales and Activity in Brentwood, 90049
As of the week of January 31, 2024, the median listing price in Brentwood, Los Angeles, CA, stands at $6,595,000, which has remained steady. The Market Action Index (MAI) has remained constant at 33, the same as last month's figures. Property listings have increased to 76, although not enough for the uptick in buyer activity due to the recent rate decline. These statistics offer valuable insights into the local real estate market as it considers the balance between sales rates and inventory levels.
The real estate market in Brentwood has recently achieved a balance between sales and inventory, indicating a stable market environment. However, the inventory levels are still relatively low, so the market is still favorable to sellers. This year is an election year, traditionally known to impact interest rates, which have declined recently and are projected to go down further. The Brentwood real estate scene is expected to have an active and potentially vibrant spring season.
Altos Research Data, Prices per square foot, date on the market, lot size, and estate sale activity level
Homes priced up to $3 million are selling quickly, indicating a strong demand in this price range. On the other hand, properties listed above this threshold require a more patient approach in the market. However, it is good to note that even these higher-priced homes eventually find buyers, indicating a healthy and active real estate market across various price ranges.
Latest Real-time Real Estate Single-Family Housing Report Brentwood, 90049
Latest Altos Research Single Family Home Sales Data 90049
Median List Price: The median listing price of homes in Brentwood, 90049 is $6,595,000.
Per Square Foot: The cost per square foot for homes averages $1,324 in Brentwood,90049 for homes.
Average Days on the Market: Homes are listed for sale for 141 days before an offer is accepted.
Price Decreased: There has been a decrease in listing prices for 33% of homes in Brentwood, 90049 area.
Price Increased: An increase in listing prices has occurred for 1% of homes for Brentwood estates.
Re-listed: 22% of homes in Brentwood have been re-listed on the market.
Inventory: There are 76 homes currently listed for sale.
Median Rent: The median rent price for single-family residences in Brentwood is $13,000.
Market Action: The Market Action Index for Brentwood single-family homes is at 33, which suggests a slight seller's advantage in the market.
Real-Time Market Profile for 90049, Brentwood, Los Angeles Condo Data
This week, the average listing price for Brentwood, Los Angeles 90049 condos is $1,445,000. The market activity level has increased slightly to 42 from last month's level of 41. There are currently 32 condos on the market, an increase from last month. Due to more people wanting to buy and fewer condos available, the market is getting busier, leading to a steady price rise. Moreover, with declining interest rates, we can expect more buyers entering the market this spring. If you're considering selling your house, the best time to list is right after the tax season in mid-April. This timing and current market trends could result in multiple offers on your property this spring, given you have priced your home properly. The current supply and demand dynamics suggest that rising prices will continue.
Latest Altos Research Condo Data Brentwood, 90049
Median List Price: The median list price in Brentwood, 90049, is $1,445,000.
Price Per Square Foot: The current rate is an average of $824 per square foot in Brentwood, Los Angeles, 90049.
Median Days on Market Condos Brentwood, 90049: The median number of days on the market is shorter at 63 days in Brentwood.
Price Decreases Condos Brentwood, 90049: About 28% of properties have decreased prices, suggesting some room for negotiation. Also, this suggests some sellers are unrealistic about their pricing.
Price Increases Condos Brentwood, 90049: There have been no price increases recently, reflecting a steady market.
Re-listed Condos In Brentwood 90049: Approximately 19% of properties have been re-listed, which may indicate a need for price adjustments or changes in marketing strategies.
Inventory Condos Brentwood, 90049: There are 32 properties currently on the market, with limited inventory for the demand.
Median Rent: The median rent is around $3,750, which could be a factor for those considering whether to rent or buy.
In the Brentwood condo market, the sweet spot for listings is around $1.3 million, with properties typically staying on the market for an average of just over a month — about 38 days. This demonstrates an insatiable demand within this price range. As we anticipate a strengthening market, we must be well-informed about these trends.
Bottom Line:
Understanding these key market numbers and facts is essential for making educated decisions about selling your condo, single-family residence, or multi-unit or land property in Brentwood. Our team can help you effectively with this dynamic market if you need a complimentary evaluation. We're here to support you every step of the way.