Select Westside+ Areas Market Intelligence
Compiled Oct. 2015 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.
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
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 October 2015 are based on data available at the end of September 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
Sept. Stats
$1,150,000
Median Sold Price
$1,344,000
Average Sold Price
142 Listings for Sale
52 Listings Pending
Year Over Year
Sept. Sept. 2014 2015
Median Price
$1,421
$1,150
-19%
Average Price Per Sq. Foot
$1,005
$886
-12%
% Change
Properties for Sale
157 142 -10%
Properties Pending Sales
73 52 -29%
Properties Sold
68 53 -22%
Days on Market (Sold Homes)
60 47 -22%
Monthly Supply of Inventory
2.3 2.7 17%
Absorption Rate (closed sales)
43.3 37.3 -14%
$2,500 $3,500
$3,000 $2,000
$2,593
$2,500
53
Listings Sold
47 Days On Market
$1,500 $2,000
$1,344
$1,655
$1,150
$1,500 $1,000
$1,000 $500 $500
$$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Culver City
Sept. Stats
$725,000
Year Over Year
Sept. Sept. 2014 2015
% Change
Median Price
$700
$725
4%
Average Price Per Sq. Foot
$493
$580
18%
Properties for Sale
54 64 19%
Properties Pending Sales
39 37 -5%
Properties Sold
45 49 9%
Days on Market (Sold Homes)
42 40 -5%
Monthly Supply of Inventory
1.2 1.3 8%
Absorption Rate (closed sales)
83.3 76.6 -8%
$1,000 $3,500
$793
$800
$2,593 $725
$2,500
$793,000
Average Sold Price
64
Listings for Sale
37
$900
$3,000
Median Sold Price
Listings Pending
$700
$600 $2,000
$1,655
$500
$1,500
49
Listings Sold
$400
$1,000
$300
$200 $500
40
$100
$-
$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Days On Market
Palms/ Mar Vista
Sept. Stats
$1,125,000
Median Sold Price
$1,100,000
Average Sold Price
57 Listings for Sale
Year Over Year
Sept. Sept. 2014 2015
Median Price
$878
$1,125
28%
Average Price Per Sq. Foot
$568
$672
18%
Properties for Sale
87 57 -34%
Properties Pending Sales
51 37 -27%
Properties Sold
44 37 -16%
Days on Market (Sold Homes)
46 40 -13%
Monthly Supply of Inventory
2
Absorption Rate (closed sales)
37 Listings Pending
% Change
1.5 -25%
50.6 64.9 28%
$1,400 $3,500
$1,200 $3,000
$1,100 $1,125
$2,593 $2,500 $1,000
37
Listings Sold
$2,000 $800
$1,655
$1,500
$600
$1,000
$400
$500
40
Days On Market
$200
$$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Marina Del Rey
Sept. Stats
$801,000
Year Over Year
Sept. Sept. 2014 2015
% Change
Median Price
$801
$801
0%
Average Price Per Sq. Foot
$633
$615
-3%
Median Sold Price
$1,023,000
Average Sold Price
Properties for Sale
83 44 -47%
Properties Pending Sales
39 35 -10%
Properties Sold
29 27 -7%
Days on Market (Sold Homes)
89 64 -28%
44
Monthly Supply of Inventory
2.9 1.6 -45%
Listings for Sale
Absorption Rate (closed sales)
34.9 61.4 76%
$1,800 $3,500
35
$1,600
$3,000
$1,400
$2,593
Listings Pending
$2,500 $1,200
$1,023
$2,000
$1,000
$1,655 $801
$1,500 $800
27 Listings Sold
$600 $1,000 $400
$500
64
$200
$$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Days On Market
Playa Del Rey
Sept. Stats
$550,000
Median Sold Price
$921,000
Average Sold Price
24 Listings for Sale
16 Listings Pending
Year Over Year
Sept. Sept. 2014 2015
% Change
Median Price
$539
$550
2%
Average Price Per Sq. Foot
$517
$584
13%
Properties for Sale
40 24 -40%
Properties Pending Sales
16 16 0%
Properties Sold
19 17 -11%
Days on Market (Sold Homes)
44 39 -11%
Monthly Supply of Inventory
2.1 1.4 -33%
Absorption Rate (closed sales)
47.5 70.8 49%
$1,200 $3,500
$3,000
$1,000
$921
$2,593 $2,500 $800
17 Listings Sold
39 Days On Market
$2,000 $1,655
$600
$550
$1,500 $400 $1,000
$500
$200
$$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Playa Vista
Sept. Stats
$785,000
Year Over Year
Sept. Sept. 2014 2015
% Change
Median Price
$743
$785
6%
Average Price Per Sq. Foot
$493
$525
6%
Median Sold Price
$956,000
Average Sold Price
Properties for Sale
19 4 -79%
Properties Pending Sales
18 9 -50%
Properties Sold
16 12 -25%
Days on Market (Sold Homes)
63 69 10%
4
Monthly Supply of Inventory
1.2 0.3 -75%
Listings for Sale
Absorption Rate (closed sales)
84.2 300 256%
9
$1,400 $3,500
$1,200 $3,000
$2,593
$956
$2,500 $1,000
$785
$2,000
$800
$1,655
$1,500
$600
Listings Pending
12 Listings Sold
$1,000
$400
$500
69
$200
$$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Days On Market
Sept. Stats
Westchester
$1,114,000
Median Sold Price
$1,114,000
Average Sold Price
Year Over Year
Sept. Sept. 2014 2015
Median Price
$1,313
$1,114
-15%
$483
$625
29%
Average Price Per Sq. Foot
% Change
Properties for Sale
13 8 -38%
Properties Pending Sales
7 7 0%
8
Properties Sold
2 2 0%
Days on Market (Sold Homes)
32 20 -38%
Listings for Sale
Monthly Supply of Inventory
6.5 4 -38%
Absorption Rate (closed sales)
15.4 25 62%
7 Listings Pending
$1,400 $3,500
$1,200 $3,000
$1,114
$1,114
$2,593 $2,500 $1,000
2 Listings Sold
$2,000 $800
$1,655
$1,500
$600
$1,000
$400
20 Days On Market
$500 $200
$$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Sept. Stats
Venice
$1,625,000
Year Over Year
Sept. Sept. 2014 2015
Median Price
$1,063
$1,625
53%
$777
$971
25%
Average Price Per Sq. Foot
% Change
Median Sold Price
$1,785,000
Average Sold Price
Properties for Sale
63 76 21%
Properties Pending Sales
20 25 25%
Properties Sold
12
Days on Market (Sold Homes)
84 66 -21%
76
Monthly Supply of Inventory
5.3 3 -43%
Listings for Sale
Absorption Rate (closed sales)
19 32.9 73%
25 108%
$2,500 $3,500
25
$3,000 $2,000
$1,785 $2,593
Listings Pending
$2,500 $1,625 $1,500 $2,000
$1,655 $1,500
25 Listings Sold
$1,000
$1,000 $500 $500
66
$$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Days On Market
West
Sept. Stats
Hollywood
$665,000
Median Sold Price
$893,000
Average Sold Price
103
Listings for Sale
37
Listings Pending
Year Over Year
Sept. Sept. 2014 2015
Median Price
$698
$665
-5%
Average Price Per Sq. Foot
$669
$682
2%
Properties for Sale
116 103 -11%
Properties Pending Sales
31 37 19%
Properties Sold
28 43 54%
Days on Market (Sold Homes)
56 54 -4%
Monthly Supply of Inventory
4.1 2.4 -41%
Absorption Rate (closed sales)
24.1 41.7 73%
$1,000 $3,500
$893
$900
$3,000 $800
$2,593
$2,500 $700
43
Listings Sold
% Change
$665
$600 $2,000
$1,655
$500
$1,500 $400
$1,000 $300
54 Days On Market
$200 $500 $100
$$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Sept. Stats
Inglewood
$380,000 Year Over Year
Sept. Sept. 2014 2015
% Change
Median Price
$255
$380
49%
Average Price Per Sq. Foot
$222
$272
23%
Median Sold Price
$407,000
Average Sold Price
Properties for Sale
78 50 -36%
Properties Pending Sales
29 46 59%
Properties Sold
29 31 7%
Days on Market (Sold Homes)
60 65 8%
50
Monthly Supply of Inventory
2.7 1.6 -41%
Listings for Sale
Absorption Rate (closed sales)
37.2 62 67%
$450 $3,500
$407
$400
$380
$3,000 $350
$2,593
46
Listings Pending
$2,500 $300
$2,000 $250
$1,655
$1,500 $200
31 Listings Sold
$150 $1,000 $100
$500
65
$50
$$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Days On Market
Sherman Oaks
Sept. Stats
$645,000
Median Sold Price
$802,000
Average Sold Price
210 Listings for Sale
Year Over Year
Sept. Sept. 2014 2015
Median Price
$695
$645
-7%
Average Price Per Sq. Foot
$441
$434
-2%
Properties for Sale
233 210 -10%
Properties Pending Sales
76 86 13%
Properties Sold
94 93 -1%
Days on Market (Sold Homes)
61 52 -15%
Monthly Supply of Inventory
2.5 2.3 -8%
Absorption Rate (closed sales)
40.3 44.3 10%
86
$1,200 $3,500
Listings Pending
$1,000
$3,000
$2,593 $2,500
$802
$800
93 Listings Sold
52 Days On Market
% Change
$2,000
$645
$1,655
$600
$1,500 $400 $1,000
$500
$200
$$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Pacific Palisades
Sept. Stats
$2,378,000 Year Over Year
Sept. Sept. 2014 2015
Median Price
$2,410
$2,378
-1%
$988
$952
-4%
Average Price Per Sq. Foot
% Change
Median Sold Price
$2,978,000
Average Sold Price
Properties for Sale
86 100 16%
Properties Pending Sales
32 28 -13%
Properties Sold
28 30 7%
Days on Market (Sold Homes)
56 42 -25%
100
Monthly Supply of Inventory
3.1 3.3 6%
Listings for Sale
Absorption Rate (closed sales)
32.6 30 -8%
28
$1,200 $3,500
$3,000
$1,000
$2,593 $2,500
Listings Pending
$802
$800
$2,000
$645
$1,655
$600
$1,500
30 Listings Sold
$400 $1,000
$500
$200
42
$$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. July Aug. Sept. 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015
Median
Average
Days On Market
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