Over the last few weeks, we have seen fewer and fewer new listings coming on the market here in Culver City. Is it because there aren't any buyers out there and sellers have given up?

No.

As I write this post, there are approximately 29 homes for sale—that is in areas zoned in Culver City, not homes zoned in Los Angeles, with a Culver City address. There are 24 homes currently in escrow.

This is quite an amazing number. It means that—should no new listings come on the market—then we could be all sold out in about a month? Case in point: There were only two homes open recently for the Broker's Caravan. I can't remember the last time I saw such a low number.

This is really good news for sellers who traditionally may be thinking that they should wait until the spring for the "best time to sell"—especially those sellers that would prefer to sell now rather than later due to a job relocation or a specific date by which a seller would like to have their home sold.

With interest rates still at unbelievably low levels, I believe demand will continue at or around the same rate, so in a supply and demand business, this all augers well for sellers in the months of November, December and January. 

Another reason the number of homes for sale is drying up is that Culver City is not "flooded" with distressed sale properties—that is, properties sold under threat of foreclosure, short sale, or as a bank owned home. As you can see from the chart above, only 14 percent or so of homes sold so far this year have been distressed sales. 

This is another great reason to buy in Culver City right now: Buyers purchasing in Culver City in the next year or so will look like geniuses in about 10 years, when rates and prices will be much higher.

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