The unique qualities of homes in Culver City continue to attract younger profesional buyers who value the proximity of being close to the Westside and the cooler beach weather.
According to statistics only available from the Multiple Listing Service, Culver City inventory consists of 55 single-family homes for sale.
They range in price from a low of $609,000 for a three-bedroom, one-bath home on the western edge of Sunset Park to a high of $1,399,000 for a 2300-plus square foot home in Carlson Park that has been completely remodeled.
In May, seven homes closed escrow, indicating that 13% of the homes on sale actually sell in a given month.
The homes that do sell in Culver City sell faster than statistics indicate, with an average time on mark, for May, of 50 days.
On the other hand, 87% of the homes on the mark that did not sell had an average on-market time that is running at 81 days.
Owners need appropriate professional consultations to avoid this pitfall if they truly need to be on market.
Prices are holding more or less steady. Homes that do close escrow are reaching 99.8% of the asking price, a whopping number, with a Culver City average sale price of $704,700 for single-family residences.
Average asking prices on a per-square-foot-value basis are running $491 per square foot.
The latest new listings in the Culver City are:
5827 Tellefson Rd., Culver Crest, 3 bds/2.5 ba., 1752SF, $995,000.
11278 Culver Park, Sunkist Park, 4 bds/3 ba., 3040SF, $1,050,000.
9010 Hubbard St., Higuera district, 2 bds/1 ba., 850SF, $769,000
Mark Salkin is an attorney specializing in residential real estate sales. He may be contacted at real property@marksalkin.com
