This Week’s Market Overview
Westwood 90024 is a buyer’s market this week. The median listing price is $1,269,000, with 176 active listings and a median 64 days on market. Homes sold an average of 3.2% below asking price, with a 97% sale-to-list-price ratio.
Market Action Index
A Market Action Index is not reported in this week’s ZIP-level source. The current market position is buyer-favorable, meaning available supply is exceeding demand.
Market Narrative
The median listing price held steady month over month but is down 6.65% from last year. Median sold price is $1,068,630, down 8.27% month over month and 17.48% year over year.
Active inventory is down slightly from last month but remains just above last year’s level. Homes are taking longer to sell both month over month and year over year, reinforcing the importance of accurate pricing and a strong launch strategy. Buyers have more time to compare options and negotiate, particularly where condition or pricing does not stand out.
Real-Time Market Profile
- Median List Price: $1,269,000
- Median Price of New Listings: Not reported
- Price per Sq Ft: $764
- Average Days on Market: Not reported
- Median Days on Market: 64 days
- % Price Decreased: Not reported
- % Price Increased: Not reported
- Relisted Properties: Not reported
- Inventory: 176 active listings
- Median Rent: $4,295 per month
- Market Action Index: Not reported
- Market Position: Buyer’s Market
Market Segments
Current public data is reported at the ZIP level rather than by price segment. Rather than create unsupported segment figures, each property should be evaluated against its closest active, pending, and recently closed competitors.
Lifestyle Demand
Westwood’s appeal remains tied to its central Westside location, proximity to UCLA and major employment centers, access to dining and shopping, and a mix of condominium, townhome, and single-family options. Buyers are closely weighing location, building amenities, condition, and monthly carrying costs.
Conclusion
The 90024 market offers buyers more leverage than a year ago, while sellers need to be particularly deliberate about price, presentation, and competitive positioning. A property-specific analysis is essential before listing or making an offer.
Contact Information
Andrew Spitz
(818) 370-6121
[email protected]
Fran Chavez
(818) 517-1411
[email protected]
