Century City, CA. Condominium Market Report for April 2010. Although you are used to my reports within a few days after the month ends, I am sorry to have this report delayed for many reasons. One happens to be I had such a busy month. Now with that said let us look at the numbers. There were 251 Active Condominium Listings. This part of the West Side of Los Angeles is such a desired area, it is seconds from Beverly Hills as well as only six to nine miles to the Ocean in Santa Monica, hence the activity remains strong and the values remain steady. Nine condominiums were in Escrow waiting to remove their contingencies and 18 Condominiums have already removed all their contingencies and are waiting for their loans to fund and close Escrow. There were 32 Closed Transactions. That is quite ... 06/01/2010

Westwood / Century City Condos Open HousesIf you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me:Stewart Penn - Penn Properties -  (310) 866-1818 - stewart@pennpropertiesla.com 10590 Wilshire Blvd #1602 - 2 Bed 3 Bath - $1,100,000 1838 Westholme #102 - 3 Bed 2.5 Bath - $925,000 10664 Wilkins Ave #302 - 2 Bed 2 Bath - $799,000 10271 Almayo Ave #102 - 3 Bed 3 Bath - $739,000 2332 Fox Hills Dr #203 - 2 Bed 2 Bath - $619,000 540 Kelton Ave #402 - 2 Bed 2 Bath - $519,000 1421 Midvale Ave #215 - 2 Bed 2 Bath - $449,000Information from the CLAW MLS is deemed correct but not guaranteed. Search The MLS: Stewart Penn - Realtor for homes, condos & lofts in Los Angeles - Beverly Hills, Bel A... 03/07/2010

Century City / Westwood Condos Sold in February 2010:Market Report for February 2010 (January 2010): Average Selling Price: $680,000 ($672,000)Average List Price: $714,000 ($710,000)Median Price: $581,000 ($600,000) Total Sold in Dollars: $11, 500,000 ($15,460,000)Number of Units Sold: 17 (23)Lowest Price Condo Sold: $415,000 ($395,000)Highest Price Condo Sold: $1,900,000 ($1,475,000) Average Days on the Market: 52 (127) MLS Information deemed reliable but not guaranteed. Photos courtesy of The CLAW MLS. 03/03/2010

Westwood / Century City Condos Open Houses - Tuesday 2/23/2010 (11:00am - 2:00pm) If you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me: Stewart Penn - Penn Properties -  (310) 866-1818 - stewart@pennpropertiesla.com 10102 Empyrean Way #304 - $2,100,000 10727 Wilshire Blvd #1501 - $1,850,000 10560 Wilshire Blvd #503 - $930,000 10364 Almayo Ave #403 - $865,000 1250 Midvale Ave #101 - $670,000 1830 Westholme Ave #303 - $634,000 1909 Pelham Ave #306 - $569,000 Information from the CLAW MLS is deemed correct but not guaranteed. Search The MLS: Stewart Penn - Realtor for homes, condos & lofts in Los Angeles - Beverly Hills, Bel Air, Homby Hills, Santa Monica, Malibu, Brentwood, Centu... 02/22/2010

Century City / Westwood Condos Sold in January 2010:Market Report for January 2010: Average Selling Price: $672,000Average List Price: $710,000Median Price: $600,000 Total Sold in Dollars: $15,460,000Number of Units Sold:  23Lowest Price Condo Sold: $395,000Highest Price Condo Sold: $1,475,000Average Days on the Market: 127 MLS Information deemed reliable but not guaranteed. Photos courtesy of The CLAW MLS. 02/08/2010

I have been so consumed by three different transactions, that I just did not have any time for  publishing the Market Report for Century City/ Westwood for the month of October. Late as it may be here it is. To make up for the lateness I have made  the following changes  for added value. Let me know what you think:   Monthly Statistics - Condo - October 2009   Sales Volume No. Area Oct 2008 Oct 2009 Sep 2009 2009 To Date 2008 To Date SP/LP SP/OLP 5 Westwood - Century City $40,822,452 $22,288,936 $30,308,750 $203,683,363 $288,943,465 95.46% 91.60%   Sales Volume No. Area Oct 2008 Oct 2009 Sep 2009 2009 To Date 2008 To Date SP/LP SP/OLP All Selected Areas $40,822,452 $22,288,936 $30,308,750 $203,683,363 $288,943,465 95.46% 91.60%     Median Sales Price No. Area Oct 2008 Oct 2009 Sep 2009 ... 11/13/2009

Here we are the Century City, CA Condominium Market Report a bit late, nevertheless still interesting. I find it always interesting when you talk to people who like to generalize how the real estate market is, based on their feelings, emotions or what they have heard in  The Active listings have decreased by about five from last month. In the big picture that is negligible when you see that there are currently 309 Condominiums on the Market.  The ones that are in Escrow and have not removed their contingencies are identical to the month before. There are 34 accepting Backup Offers.  Now what I find very telling is there has been a huge increase in the Pending. These are the ones that the buyers have removed all their contingencies and are waiting to close Escrow. These will be September... 09/04/2009

Century City, CA. Market Report for July 2009. Well here we are and another month just flew by. I have been quite busy and productive, hence the delay of my monthly market report.   Since the beginning of 2009 you have read my reports and I have been showing the numbers and you could see that the Real Estate Market has been improving month over month in Century City, CA. The volume of sales has been quietly increasing from the previous month as well as year. So it should not come as a surprise to any of my loyal readers what now the media has started to bring up, such as headlines "...Is the Real Estate Bear Market Beginning to Bottom Out?"....Signs of Life in the Los Angeles Real Estate Market...." I could go on and on.  So let's see how Condominium Market for the month of July fared i... 08/04/2009

  I have been very busy during the month of June; hence my perception was that the Market has been very active. Instead of going by perception let us look at the facts.                  January                       February              March           April         May           June   Active:             289                       295                      294             306           315             313   Pending:             35                          10                       38               50             54               50   Accepting Backups 14                     20                      25               30             38               27   Sold                         13                      14                      20              19              27              42    It is v... 07/05/2009

Here we are the month of May just flown by for me. Even though there were thirty one days in the month I could have used a few extra. The activity has picked up not just for other Realtors, but for me as well. I have been fielding calls, showing properties, and writing offers and found my self in multiple offer situations more then five times this month. I am confident, based on my activities that the numbers will be better compared to the previous month.  Now let us look at the actual Condominium Activities for the month of May in Century City, CA.  As of 5/31/2009 there were 315 Condominiums on the Market within a broad range of prices. Least expensive Condominium for sale was listed at:                               •1.      A Single for $275,000.00 (this reminds me of 2001 when the ... 06/01/2009

Century City, CA Market Report for April, 2009   Here we are and the numbers are in for the month of April. Century City, CA has boasted of an improvement month after month in the sales activity, since the beginning of the year. So I am optimistic, but at the same time realistic about the current state of the real estate market, hence I am just as anxious as you to see how it turned out. I have been involved in multiple offer situations last month, so I have a good feeling where the numbers will be.  With this introduction, let's see the numbers.  Currently there are 306 Active Listings which is an increase form March by about 8 listings.  There are also 30 properties in Escrow, where the buyers have not removed their contingencies; this is also an increase by 5 over March. I was so ama... 05/04/2009

 Well here we are April 1, 2009. The month of March 2009, data is now available. This is not an April Fools joke, these are the actual figures.  Before I will give you the figures, for your convenience I am enclosing a link to the February Market Report so you can compare it easier to the current numbers. (http://activerain.com/blogsview/962925/Century-CityCA-Real-Estate-Market-Report-for-February-2009 )  There is almost no difference in the Active Listing inventory month over month between February and March 2009. The Multiple Listing Service had 294 Active Listings.  Interestingly there has been an increase of Properties that are in Escrow accepting back up offers. For the month of March there are 25 properties in Escrow, where buyers have not removed their contingencies yet.  Then wh... 04/01/2009

Here we are February is in the history books. It went by so fast. OK in all fairness it is two to three days shorter then the rest of the months. So let us see how the Century City Condo Market fared.  Let us compare it to January (http://activerain.com/blogsview/910700/Century-City-Condominium-Market-Report-for-January-2009 )  There are some noteworthy changes in the Century City Real Estate Market. For the month of February: there were 295 Active Listings, 20 accepting back up offers and 10 Pending i.e.: solid in Escrow. Also it is very interesting, that 14 Properties Sold in the Month of February.  The statistics show, that there has been an 8.8% drop in the activity we call accepting back up as well as pending in comparison to the January numbers. Also noteworthy is that there has b... 03/02/2009

 I have been monitoring the Century City Condominium Sales activity for quite some time, but I chose not to publish it previously. I have been receiving requests from buyers and sellers to give these statistics. Here is a New Year, a new President, so here we go this is my first Market Report for Century City/ Westwood Condominiums. This will be a monthly report with a year end summary. Instead of just giving a snap shot of the Market I would like to frame the current Activity in relationship to the past two year.  For the month of January 2007 there were 44 Condominiums that sold in Century City/Westwood area. For the month of January 2008, there were 21 Condominiums, which sold in Century City/Westwood area. Now before I give the 2009 figures I would like to bring to every one's atten... 01/31/2009

As I was reading today's LA Times (business section  dated December 18,2008) I was just amazed at the brilliant move of Real Estate developer Michael Rosenfeld.  The RE Market is in a downturn and more then likely at the bottom, he in turn is Planning to demolish the Century Plaza Hotel and develop in it's  place two 50-story towers, with a pedestrian- friendly area.  The Design he envisions, has rows of trees, pedestrian walkways which would connect the new housing and an expanded Century City shopping center. There would be new trendy restaurants office areas and of course super luxury Condominiums. The trend has been started already. ( please read my post about : Do you think the Real Estate market is bad, look at 'The Century" in Century City,CA)  In this soft economy, he can get th... 12/18/2008

By now I am sure everyone has heard that in the City of Angels, there is a new address. The Marketing brochure calls it "Heaven Has a New Address". The actual address is 2055 Avenue of the Stars.  The developers named it "The Century". It consists of a forty two storied building on almost four acres of lush greenery and soothing waters,Designed by the the Architects Robert A.M. Stern.  This is the ultimate in what one would think of California Life Style. It is not for every ones taste or likes nor is it for everyone's budget. One would be purchaser made local and world news. Currently there are twenty actively marketed in the Multiple Listing Service on the West Side of Los Angeles under the geographic designation of Century City.  There are  ten showing Pending. They are waiting for c... 11/17/2008

Stewart Penn | Penn Properties | 310.866.1818 Beverly Glen Blvd, Century City, CA Rarely available Penthouse in Prime Location 2BR/2BA Condo offered at $785,000 Year Built 1983 Sq Footage 1,680 Bedrooms 2 Bathrooms 2 full, 0 partial Floors 1 Parking 2 Car garage Lot Size Unspecified HOA/Maint $500 per month DESCRIPTION Rarely available, spacious penthouse in prime location, just south of Wilshire Blvd. Sun filled 2 Bed 2 Bath condo. Soaring ceilings add space to this 1680 sq ft home. Wonderful views, expansive balcony. Immaculate complex features pool, spa & sauna. Unique opportunity to include rooftop deck into loft space. Cosmetic fixer, vacant and ready for your personal touch. Highly recommended. see additional photos below PROPERTY FEATURES Central A/C Central heat Fireplace High/... 10/21/2008

Day: Thursday Hours: 11:00 AM to 3:00 PM Location: 1800 Avenue of the StarsCentury City, 90067 Constellation Blvd & Avenue of the Stars City: Century City County: Los Angeles Manager: Jennifer McColm Office Address: 19301 Caladero St., Tarzana, CA 91356 Phone: 818-591-8161       What's Fresh Right Now •       Mandarin Oranges•       Limes•       Persimmons•       Mushrooms•       Pomegranates•       Spinach•       Winter Squash•       Green beans•       Grapes•       Asian Pears•       Chinese Broccoli•       Walnuts•       Brussel Sprouts•       Tangerines•       Avocadoes•       Honey      Century City is one of the community's fortunate enough to have a Certified Farmers Market (CFM)!  Supporting your local Farmers Market not only gives you the freshest fruits and vegetables but it'... 10/06/2008

August 23rd Century City Hospital closed. People were transferred out. I read that people were not paid for the last several weeks. 2070 Century Park East Century City Doctors Hospital was a 176 bed hospital that was  like a five star hotel. Backruptcy closure ended it's three year old start. ABC stated that the officials said the closure was from inability to sell the hospital or get new financing or extend current financing. section=news/local/los_angeles&id=6346660 Real estate right now is all about financing. This is the current largest reason that home prices are declining. This hospital closure is one more fact that all levels of economy are affected. This building will be bought and restored if it is to have the fate of other real estate. Any address in Century City has always be... 09/01/2008

Looking up Designer I see web design and stagers and floral design. The rare Interior Designer is a designation that is somewhat unfamiliar to the everyday citizen. The Interior Designer is a person trained to create the interior architecture of a property. In Century City the Interior Design company of Pope and Associates Interior Space Planning and Design Inc. is well known for the improvement of many offices since 1986. Usually in 5 years there is a change that will require the companies services. A local Rotarian and past President, Robert Pope served in the Century City area. So this is how an Interior Design Firm works- They meet with a client and see what the overall scope of work will need to include. The designer works to see what new furniture will be needed and cover the powe... 07/14/2008