Why Are Culver City Home Buyers Out in Force?

Here we are with six months of the year already gone and it seems buyers continue to come back to the Culver City housing market. As it stands at the time of this writing, there are 65 single family homes available for sale, and there are 27 properties in escrow. This means that if no new homes were to come on the market, at the rate Culver City homes are going under contract, we would run out of inventory in just over a month.

I held an open house this past weekend in the area and the buyer traffic was a constant stream for the whole three hours. In fact, a few of those buyers came back Tuesday (at the brokers open) with their agents. As an agent, we know that when we see that kind of activity these are highly serious buyers who are looking to purchase immediately.

What has caused this "mini surge"? First, educated buyers know that Culver City prices have been relatively stable for the past 18 months or so. This means they can buy with the understanding that they are not "catching a falling knife."

The interest rates are still mouthwateringly low. In addition, we are in the prime summer months when families want to get the move done before the kids go back to school.

Put it all together and you have one of the best real estate markets in West Los Angeles. This does not mean we are out of the woods; there are still a lot of challenges in this economy, of course. Those who have the desire to live in our great little city, however, are overcoming those obstacles.