Tuesday, April 06, 2010

North Hollywood Homes for Sale

North Hollywood Homes for Sale
Real Estate & Market Update

Are you thinking of moving to North Hollywood? North Hollywood is located east of Van Nuys / Valley Glen, and North of Valley Village (part of North Hollywood). Studio City is just south of Valley Village but in reality, North Hollywood borders Studio City and Burbank is on it's east.

Homes located in Valley Village are priced higher than other areas of North Hollywood because of it's close proximity to Studio City.  You can search for Valley Village homes for sale to get an idea on the difference between homes for sale in Valley Village and North Hollywood.

There are currently 137 active homes for sale in North Hollywood.  Active homes are homes which are still available for you to purchase.  Homes labeled as back-up are sold and in escrow.  So if you view a home labeled as back-up, keep in mind the home is sold and the agent is looking for another offer in case the first offer falls-through.

There are 136 home in escrow in North Hollywood.  That's an amazing number but it shows that homes are sold but not closing escrow quickly enough.  In the last three months, only 125 properties have sold.  In the past one month, only 31 homes have actually sold.  Homes generally take 30-40 days to close.  Because of the number of short sale homes, it's taking anywhere from 4-6 months to close. 

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