Sale prices of single-family homes in and near West Hollywood rose 21 percent in the three months ending in February over the same period last year while sale prices of condo rose 11 percent according to a report by Sotheby’s International Realty.
The report said 32 single-family homes were sold between December through February at an average price of $1.7 million and 31 were sold at an average price of $1.4 million in the same period the year before. The Dec. 2014-Feb. 2015 single-family home price per square foot was $823, an increase of 26 percent. Twenty-five of the houses were sold for between $1 million and $3 million and one was sold for more than $3 million.
Eighty-one condos were sold in the December-February period, a slight decrease from the 88 sold in the same period last year. The average price was $708,000 an increase of 11 percent over the same period last year. The Dec. 2014-Feb. 2015 condo sales price per square foot was $561, a 7.5 percent increase over the same period the year before.
Both houses and condos sold on average for 98 percent of their listing price.
