Tuesday, May 6, 2008

West Hollywood Market Round-Up: April 2008

West Hollywood California Condo Building Under Construction7 houses sold in April 2008 in West Hollywood – up from 4 sales in March. 2 sales were over $1.9 million, both on Huntley Drive. 2 sales for over $1 million were on Westbourne Drive, one block east of Huntley Drive, showing the enduring popularity and demand in West Hollywood West. The average days on market for a single family home in West Hollywood was 59.

26 condos sold in the West Hollywood area in April 2008, well below the number of condo sales in April in previous years: 37 (2007), 39 (2006), 64 (2005) and 56 (2004). The average days on market was 80. Condos sold for an average of $557/sq ft. The highest priced sale was 818 N Doheny, a 3,000 sq ft 14th floor unit – for $1,795,000. Also at the upper end of the market was an 1,813 sq ft penthouse at 718 N Croft, adjacent to Melrose Place, that sold for $1,395,000. A 1,631 sq ft ground floor unit in the same building sold for $999,000. More than half of the condo sales in West Hollywood were for $515,000 or less.