After a few months of minimal activity on the Corridor, it has taken a 180 deg turn. In March thru May, three, two and four units were put into escrow. But all of a sudden, in June eleven units went into escrow. What makes the data even more interesting are the Days on Market (DOM). While they remained in the m90+ range for Backup status, they moved to 155 in June. That indicates to me that a lot of these properties have spent their course and owners can no longer hang onto the units, so prices are lowered sufficiently for Buyers to pull the trigger. It’s a long way off from the rate at the height of the market, but an indication of where we are going in 2011.
About Lynn and Mark Rogo
Respected throughout the brokerage community for their honesty, integrity & strong work ethic, Mark & Lynn Mirisch Rogo are proud to offer the highest caliber of personal service that delivers results. Mark brings to his career extensive knowledge & experience in finance, business management & real estate investments that give him a definite edge in today’s competitive marketplace. As a lifelong resident of Beverly Hills & Westwood, Lynn has widespread knowledge of the marketplace, giving her a definite edge in helping buyers & sellers achieve their goals.