January 2021 Real Estate Market Update – Woodland Hills, Topanga, & West Hills

Surprisingly, 2020 is on record as one of the strongest years in real estate sales history, and December continued the trend of rising sales and prices that began last Spring. Year over year, the 12-month Average Sale Price of homes and the number of sales saw significant increases in most Los Angeles communities. The December single residence average sale price in Woodland Hills, $1.199 million, jumped almost 9% from 2019 to 2020, while the number of sold single residence homes more than doubled. Topanga and West Hills saw similar results. For Topanga, single residence home average sale prices rose nearly 12% to $2.392 million and number of sales increased 40%, while West Hills prices were up nearly 14% at $859 thousand and nearly 50% more homes were sold.

With the continuing limited number of homes for sale, low interest rates and a large number of motivated buyers, 2021 Real Estate is beginning right where 2020 left off.

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Source: CRMLS, The MLS

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