Residential Market Pulse

1st Quarter, 2023

A note from Tami Pardee

There is a lot of confusion in today’s Real Estate market and many of our clients come to us saying they are unsure of what to do. Your first step in looking to buy or sell is to consider who you are partnering with to ensure you get the most value for your home when selling or a great deal on something new. The most important things to consider are communication, connection, expertise, and strategy:

1. Communication
• What is their response time?
  (We always respond promptly, try us!)
• Do they pick up the phone quickly?
• Is it easy to schedule time with them?

2. Connection
• Buying or selling a home goes beyond the transaction —
  ensure it feels like a great fit.
• Is this someone you feel you can trust?
• Does the relationship feel natural?

3. Expertise
• Are they a market expert? Consider their reviews! Review
  their most recent sales in your specific market area.
• Do their listings sell above asking?

4. Strategy
• Are they considering the current climate and why you
  should buy or sell now?
• Is there a data-driven, individualized strategy?
• Is timing being considered to get the most value for your home?

Always interview at least 3 agents and please make sure Pardee is top of your shortlist! Call on us. Count on us. Connect with us. All signs lead to Pardee.

What I’m noticing in the market

  • Increasing prices per sq. ft.
    The average Price Per Sq. Ft. on the Westside has increased 4.7% compared to Q1 2022.

  • More days on market
    Westside homes are sitting on the market longer compared to this time last year. In Q1 2022, average Days on Market was 34 days, in 2023 it’s 43 days.

Now, onto the data. Jump straight to a neighborhood:

VeniceMar VistaSanta Monica

Culver CityMarina del Rey – Westchester


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Download the full Santa Monica Market Pulse

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Download the full Culver City Marker Pulse

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Download the full Marina del Rey Market Pulse

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Download the full Westchester Market Pulse

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Connect with us to dive deeper