Westlake Real Estate Market Report
In 2016 Westlake had 36 homes listed on the market, 9 of which are still active or pending.
Out of the 26 that sold, 8 sold in less than 30 days, 3 sold in 31-60 days, 4 in 61-90 days and 3 took 91-120 days.
14 of the homes were in the 400,000-$499,999 sales price range with the average sales price (SP) er sq ft being $131.01; the majority of sales occurring in the months of May, June, August, September, November and December.
Most homes sold 3-19% below their list price with the average being sold at 9% below their list price.
I’m not able to pull a months of inventory report on Westlake, however the 8 homes active on the market have been listed for 37-135 days. Given the sales to list price ratio and the average number of days it’s taken to sell homes in 2016 I’m not hesitant to say that it’s a reasonably balanced market in there and probably leans more towards a buyer’s market just because of the price ranges of the homes.
The attached picture shows data on Westlake from January 2012-December 2016. It’s always good to look at trends. What will 2017 bring? See my blog post HERE for that.
NOTE: due to incorrect subdivision input by agents into the MLS this data may contain a few outliers from the subdivision that may affect the data slightly. This particular subdivision had some minor variations between the two HAR programs used to collect the data.