Olive Glen in the West Athens area of Los Angeles has topped the list as the fastest-selling new home neighborhood in Southern California based on average sales per week year to date, according to The Ryness Report, a weekly publication that tracks new home sales activities throughout California and other western states.
Averaging 2.6 sales each week, Olive Glen outsold all other Southern California communities in a six-county region by a considerable margin. Since opening the model homes earlier this year, Olive Glen has 36 generated sales to date, and continues to sell out with each sales release.
“We feel the interest in Olive Glen began weeks before the community opened because buyers in this underserved market had been waiting for something new to come along that offered a good value for the area,” said Patrice Quishenberry, sales counselor for Olive Glen. “It’s obvious that our buyers have found the product type to be an affordable option to the typically higher-priced surrounding markets, while providing all the best the region has to offer. Our buyers are people ready to invest in a new home, but who want to be close to work and also remain in a community where many have family ties.”
Quishenberry added that home shoppers who moved out of the area during the peak of the housing market are now looking to return to the city. “I counsel with people who are at a turning point, wanting to shift from their faraway suburb and long commute. Today’s buyers are seeking a simplified home life amid overbooked schedules and a myriad of other pressures.”
Olive Glen is presented by Williams Homes, which is under the leadership of Lance Williams.
The Ryness Report research demonstrates that a total of 193 residences sold in new home communities throughout a six-county region for the week ending Sept. 9, 2012, representing a change of 46 percent increase overall from the same period in 2011. Los Angeles County, where Olive Glen is located, alone recorded a 104 percent increase from one year ago, while average sales year to date are running 5 percent ahead of 2011, demonstrating that parts of California are showing a noticeable increase in demand.