December 2015
ESTATE PROPERTIES ESTATE PROPERTIES
The Select Westside+ Market Intelligence Report
Elizabeth Marquart Westside Office 310.246.0888 | Valley Office 818.784.8892 Cell 310.779.9908 | www.ElizabethSells.com | Lic #01344207
Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the Los Angeles real estate market. This report covers Santa Monica, Culver City, Mar Vista, Marina Del Rey, Playa Del Rey Playa Vista, Westchester, Venice, West Hollywood, Inglewood, Sherman Oaks and Pacific Palisades.
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ESTATE PROPERTIES ESTATE PROPERTIES
BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212 Phone: 310.205.0050
SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401 Phone: 310.264.2225
ABBOT KINNEY 1413 Abbot Kinney Blvd. Venice, CA 90291 Phone: 310.396.2600
MANHATTAN BEACH DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 Phone: 310.937.5700
WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 Phone: 310.202.8141
MARINA DEL REY / VENICE 124 & 155 Washington Blvd. Marina Del Rey, CA 90292 Phone: 310.577.5300
EL SEGUNDO 402 Main Street El Segundo, CA 90245 Phone: 310.322.1425
MANHATTAN BEACH BLVD 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 Phone: 310.376.2225
HERMOSA BEACH 2601 Pacific Coast Hwy. #101 Hermosa Beach, CA 90254 Phone: 310.937.3200
SOUTH BAY 23740 Hawthorne Blvd. 2nd Floor Torrance, CA 90505 Phone: 310.378.9889
SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 Phone: 310.544.9999
REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 Phone: 310.378.7747
MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Phone: 310.378.9494
MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Phone: 310.831.0222
SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732 Phone: 310.831.0150
Photography courtesy of Brian Holm, AvenueEye.com
ESTATE PROPERTIES ESTATE PROPERTIES
Westside Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout Los Angeles’ Westside. This Market Intelligence Report monitors
Santa Monica Culver City Palms / Mar Vista Marina Del Rey Playa Del Rey Playa Vista Westchester Venice West Hollywood Inglewood
Market Intelligence Glossary MEDIAN PRICE:
Median Price is the price of the property that falls in the middle of the total number of properties Sold in any given month.
AVERAGE PRICE PER SQUARE FOOT:
Found by taking the price of each property and dividing that by its square footage, then finding the average for all properties Sold.
PROPERTIES FOR SALE: The number of properties that are for sale on the market.
PROPERTIES UNDER CONTRACT:
The number of properties with an accepted offer however they have not closed.
PROPERTIES SOLD: The number of properties that SOLD and transfered ownership.
DAYS ON MARKET (CLOSED SALES):
The average number of days that properties were on ACTIVE on the market.
MONTHS SUPPLY OF INVENTORY:
This is calculated by dividing the total number of homes for sale in a particular month by the number of homes that sold in that month.
PROPERTIES PENDING SALE:
The number of properties placed in escrow during any given month.
REPORT NOTES:
Reports published in December 2015 are based on data available at the end of November 2015. All reports presented are based on data supplied by the CRMLS or CLAW and Trendgraphix. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Information deemed reliable but not guaranteed.
Sherman Oaks Pacific Palisades
Photography courtesy of Brian Holm, AvenueEye.com
Santa Monica November Stats
$1,302,000
Median Sold Price
$2,228,000
Average Sold Price
112
Listings for Sale
Year Over Year
Nov. Nov. 2014 2015
Median Price
$1,215
$1,302
7%
Average Price Per Sq. Foot
$966
$1,058
10%
Properties for Sale
125
112 -10%
Properties Pending Sales
62
63 2%
Properties Sold
90
49 -46%
Days on Market (Sold Homes)
51
75 47%
Monthly Supply of Inventory
1.4
2.3 64%
Absorption Rate (closed sales)
72
43.8 -39%
$2,500
63 Listings Pending
% Change
Avg. & Median Price by Month $2,228
$3,500 $2,000 $3,000
$2,593 $2,500 $1,500
49
Listings Sold
$1,302
$2,000
$1,655 $1,000 $1,500
$1,000 $500
$500
75 Days On Market
$$-
Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Culver City November Stats Year Over Year
Nov. Nov. 2014 2015
Median Price
$575
$520
-10%
Average Price Per Sq. Foot
$444
$580
31%
% Change
Properties for Sale
59
42 -29%
Properties Pending Sales
29
48 66%
Properties Sold
50
27 -46%
Days on Market (Sold Homes)
47
47 0%
Monthly Supply of Inventory
1.2
1.6 33%
Absorption Rate (closed sales)
84.7
64.3 -24%
$1,000
$520,000
Median Sold Price
$747,000
Average Sold Price
42
Listings for Sale
Avg. & Median Price by Month
$3,500
$900 $747
$3,000$800
$2,593
$700
48
Listings Pending
$2,500 $600 $520
$2,000
$500
$1,655
$1,500$400
27
Listings Sold
$300
$1,000 $200
$500
$100
$- $-
Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
47
Days On Market
Palms/Mar Vista November Stats
$1,100,000
Median Sold Price
Year Over Year
Nov. Nov. 2014 2015
Median Price
$1,075
$1,100
2%
$602
$687
14%
Average Price Per Sq. Foot
$1,127,000
Average Sold Price
48
Listings for Sale
Properties for Sale
70
48 -31%
Properties Pending Sales
24
27 13%
Properties Sold
67
27 -60%
Days on Market (Sold Homes)
71
47 -34%
Monthly Supply of Inventory
1
1.8 80%
95.7
56.3 -41%
Absorption Rate (closed sales)
$1,400
27 Listings Pending
% Change
Avg. & Median Price by Month
$3,500 $1,127
$1,200
$1,100
$3,000 $1,000
$2,593
$2,500 $800
27
Listings Sold
$2,000 $1,655
$600
$1,500 $400
$1,000
$200
$500
47
Days On Market
$$-
Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Marina Del Rey November Stats Year Over Year
Nov. Nov. 2014 2015
% Change
Median Price
$785
$900
15%
Average Price Per Sq. Foot
$559
$612
9%
Properties for Sale
72
67 -7%
Properties Pending Sales
24
27 13%
Properties Sold
72
24 -67%
Days on Market (Sold Homes)
118
63 -47%
Monthly Supply of Inventory
1
2.8 180%
100
35.8 -64%
Absorption Rate (closed sales)
$1,800
$900,000
Median Sold Price
$1,091,000
Average Sold Price
67
Listings for Sale
Avg. & Median Price by Month
$3,500
27
$1,600
$3,000 $1,400 $1,091
$1,200 $2,500 $1,000
$2,593
Listings Pending
$900
$2,000
$1,655
$800
$1,500
24
Listings Sold
$600
$1,000
$400
$500$200 $- $-
Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
63
Days On Market
Playa Del Rey November Stats
$598,000
Median Sold Price
$702,000
Average Sold Price
20
Listings for Sale
Year Over Year
Listings Pending
13
Listings Sold
% Change
Median Price
$519
$598
15%
Average Price Per Sq. Foot
$480
$599
25%
Properties for Sale
30
20 -33%
Properties Pending Sales
12
10 -17%
Properties Sold
27
13 -52%
Days on Market (Sold Homes)
61
57 -7%
Monthly Supply of Inventory
1.1
1.5 36%
Absorption Rate (closed sales)
90
65 -28%
$1,200
10
Nov. Nov. 2014 2015
Avg. & Median Price by Month
$3,500 $1,000
$3,000 $2,593
$800 $2,500
$702 $598
$2,000 $600
$1,655
$1,500 $400
$1,000 $200
$500
57
Days On Market
$-$-
Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Playa Vista November Stats Year Over Year
Nov. Nov. 2014 2015
% Change
Median Price
$745
$895
20%
Average Price Per Sq. Foot
$457
$623
36%
Properties for Sale
20
11 -45%
Properties Pending Sales
16
7 -56%
Properties Sold
27
7 -74%
Days on Market (Sold Homes)
58
34 -41%
Monthly Supply of Inventory
0.7
1.6 129%
Absorption Rate (closed sales)
135
63.6 -53%
$1,400
$895,000
Median Sold Price
$1,145,000
Average Sold Price
11
Listings for Sale
Avg. & Median Price by Month
$3,500
7
$1,145
$1,200
$3,000 $1,000
$2,593 $895
$2,500
Listings Pending
$800
$2,000 $1,655
$600
$1,500
7
Listings Sold
$400
$1,000
$200
$500
$- $-
Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
34
Days On Market
Westchester November Stats
$909,000
Median Sold Price
$1,032,000
Average Sold Price
77
Listings for Sale
Year Over Year
Nov. Nov. 2014 2015
% Change
Median Price
$805
$909
13%
Average Price Per Sq. Foot
$530
$578
9%
Properties for Sale
37
35 -5%
Properties Pending Sales
28
20 -29%
Properties Sold
43
23 -47%
Days on Market (Sold Homes)
44
35 -20%
Monthly Supply of Inventory
0.9
1.5 67%
Absorption Rate (closed sales) 116.2 65.7 -43%
Avg. & Median Price by Month
31
$3,500
Listings Pending
$3,000
$3,500
$3,000
$2,593 $2,407 $2,500
$2,500 $2,100
31
Listings Sold
$2,000 $2,000 $1,655 $1,500 $1,500 $1,000 $1,000
$500 $500
46 Days On Market
$$-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Venice November Stats Year Over Year
Nov. Nov. 2014 2015
Median Price Average Price Per Sq. Foot
% Change
$1,580
$1,675
6%
$949
$1,092
15%
Properties for Sale
50
65 30%
Properties Pending Sales
17
20 18%
Properties Sold
36
18 -50%
Days on Market (Sold Homes)
71
57 -20%
Monthly Supply of Inventory
1.4
3.6 157%
Absorption Rate (closed sales)
72
27.7 -62%
$2,500
$1,675,000
Median Sold Price
$2,031,000
Average Sold Price
65
Listings for Sale
Avg. & Median Price by Month
$3,500 $2,031 $2,000
$3,000
$1,675 $2,593
20
Listings Pending
$2,500 $1,500
$2,000 $1,655 $1,000 $1,500
18
Listings Sold
$1,000 $500
$500 $- $-
Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
57
Days On Market
West Hollywood November Stats
$802,000
Median Sold Price
$1,063,000
Average Sold Price
96
Listings for Sale
Year Over Year
Listings Pending
38
Listings Sold
% Change
Median Price
$676
$802
19%
Average Price Per Sq. Foot
$645
$732
13%
Properties for Sale
123
96 -22%
Properties Pending Sales
29
42 45%
Properties Sold
78
38 -51%
Days on Market (Sold Homes)
69
53 -23%
Monthly Supply of Inventory
1.6
2.5 56%
Absorption Rate (closed sales)
63.4
39.6 -38%
$1,200
42
Nov. Nov. 2014 2015
Avg. & Median Price by Month $1,063
$3,500 $1,000
$3,000 $802 $2,593
$800 $2,500
$2,000 $600
$1,655
$1,500 $400
$1,000 $200
$500
53 Days On Market
$$-
Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Inglewood November Stats Year Over Year
Nov. Nov. 2014 2015
% Change
Median Price
$385
$353
-8%
Average Price Per Sq. Foot
$235
$283
20%
Properties for Sale
74
49 -34%
Properties Pending Sales
32
42 31%
Properties Sold
47
26 -45%
Days on Market (Sold Homes)
84
46 -45%
Monthly Supply of Inventory
1.6
1.9 19%
Absorption Rate (closed sales)
63.5
53.1 -16%
$450
$353,000
Median Sold Price
$355,000
Average Sold Price
49
Listings for Sale
Avg. & Median Price by Month
$3,500
$400
$355
$3,000 $350
$353
$2,593
$300
42
Listings Pending
$2,500
$250
$2,000
$1,655
$200
$1,500
26
Listings Sold
$150
$1,000
$100
$500 $50 $-$-
Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
46
Days On Market
Sherman Oaks November Stats
$751,000
Median Sold Price
$922,000
Average Sold Price
169
Listings for Sale
Year Over Year
Listings Pending
$748
$751
0%
Average Price Per Sq. Foot
$425
$464
9%
Properties for Sale
183 169 -8%
Properties Pending Sales
69
84 22%
Properties Sold
87
49 -44%
Days on Market (Sold Homes)
62
49 -21%
Monthly Supply of Inventory
2.1
3.4 62%
Absorption Rate (closed sales)
47.5
29 -39%
Avg. & Median Price by Month
$3,500 $1,000
$922
$3,000
$2,593
$800
$751
$2,500
49
Listings Sold
% Change
Median Price
$1,200
84
Nov. Nov. 2014 2015
$2,000 $600
$1,655
$1,500 $400
$1,000 $200
$500
49 Days On Market
$$-
Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
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Westside Office 310.246.0888 | Valley Office 818.784.8892 | Cell 310.779.9908 www.ElizabethSells.com | RE/MAX Estate Properties LA #01344207