WHAT IS A MARKET WITHIN A MARKET?
Just as the weather is different from Los Feliz to Santa Monica so is the Real Estate climate. While it may be cloudy & overcast in Marina del Rey, at the same exact time, it may be warm & sunny in the Mid Wilshire area. The Real Estate market works the same way. Year-to-year there may be a significant sales increase in Venice while at the same time there is an alarming drop in sales price from the Palms – Mar Vista area even though they are literally blocks from one another.
With our vast years of experience, we at Keller Williams have come to notice that like the need for a sweater by the beach and a T-shirt in the Valley, every market within a market has a very different climate and therefore requires its own set of statistics for you to truly understand what is going on in your neighborhood. Although you can easily access the broad national, state, and/or country
trends published by the media, they may not have anything to do with what is occurring in your own backyard. After all, you wouldn’t watch a weather channel report for Seattle to decide if you need an umbrella that day would you?
WHY THIS BENEFITS YOU – OUR CLIENT
Our extensive experience & knowledge has led us to notice that markets within markets may be performing in a different way from one another and from national averages.
With the current stringent lending situation, having knowledge of the specialized market trends for the neighborhood you are contemplating is vital for true success in
your transaction.
Don’t be mislead by ideas that are not actual facts. What is in fact occurring in the markets of those areas may be counterintuitive of notions or ideas you may have perceived from national averages. Knowledge is power and knowing all the facts will give you the power to make the most educated choice.
BEL AIR – HOLMBY HILLS
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $2,300,000
Median Price ……………………..……. $2,917,500
26.8%
Average Price per Square Foot ….…
$892
Average Price per Square Foot ….…
$1,062
19.1%
Properties Sold ……………………….
49
Properties Sold ……………………….
32
-34.7%
Properties Pending Sale ………………
57
Properties Pending Sale ………………
40
-29.8%
Properties For Sale …………….……...
251
Properties For Sale …………….……...
253
0.8%
Days on Market (Pending Sale) ….…..
83
Days on Market (Pending Sale) ….…..
73
-12.6%
Percent Under Contract ………….……
22.71%
Percent Under Contract ………….……
15.81%
-30.4%
BEVERLY CENTER – MIRACLE MILE
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,580,000
Median Price ……………………..……. $1,665,000
5.4%
Average Price per Square Foot ….…
$766
Average Price per Square Foot ….…
$821
7.2%
Properties Sold ……………………….
56
Properties Sold ……………………….
49
-12.5%
Properties Pending Sale ………………
51
Properties Pending Sale ………………
43
-15.7%
Properties For Sale …………….……...
158
Properties For Sale …………….……...
123
-22.2%
Days on Market (Pending Sale) ….…..
47
Days on Market (Pending Sale) ….…..
47
0.0%
Percent Under Contract ………….……
32.28%
Percent Under Contract ………….……
34.96%
8.3%
BEVERLY CENTER – MIRACLE MILE
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$730,018
Median Price ……………………..…….
$835,000
14.4%
Average Price per Square Foot ….…
$616
Average Price per Square Foot ….…
$734
19.2%
Properties Sold ……………………….
31
Properties Sold ……………………….
23
-25.8%
Properties Pending Sale ………………
30
Properties Pending Sale ………………
25
-16.7%
Properties For Sale …………….……...
57
Properties For Sale …………….……...
65
-14.0%
Days on Market (Pending Sale) ….…..
52
Days on Market (Pending Sale) ….…..
36
-30.6%
Percent Under Contract ………….……
52.63%
Percent Under Contract ………….……
38.46%
-26.9%
BEVERLY HILLS
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $4,800,000
Median Price ……………………..……. $6,006,000
25.1%
Average Price per Square Foot ….…
$1,532
Average Price per Square Foot ….…
$1,502
-2.0%
Properties Sold ……………………….
33
Properties Sold ……………………….
35
6.1%
Properties Pending Sale ………………
34
Properties Pending Sale ………………
39
14.7%
Properties For Sale …………….……...
174
Properties For Sale …………….……...
203
16.7%
Days on Market (Pending Sale) ….…..
75
Days on Market (Pending Sale) ….…..
69
-8.3%
Percent Under Contract ………….……
19.54%
Percent Under Contract ………….……
19.21%
-1.7%
BEVERLY HILLS
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..……. $1,249,000
Median Price ……………………..……. $1,288,000
Average Price per Square Foot ….…
$734
Average Price per Square Foot ….…
$969
32.0%
Properties Sold ……………………….
31
Properties Sold ……………………….
20
-35.5%
Properties Pending Sale ………………
33
Properties Pending Sale ………………
23
-30.3%
Properties For Sale …………….……...
105
Properties For Sale …………….……...
87
-17.1%
Days on Market (Pending Sale) ….…..
64
Days on Market (Pending Sale) ….…..
47
-26.5%
Percent Under Contract ………….……
31.43%
Percent Under Contract ………….……
26.44%
-15.9%
3.1%
BEVERLY HILLS P.O.
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $2,800,000
Median Price ……………………..……. $2,900,000
3.6%
Average Price per Square Foot ….…
$874
Average Price per Square Foot ….…
$945
8.1%
Properties Sold ……………………….
47
Properties Sold ……………………….
43
-8.5%
Properties Pending Sale ………………
46
Properties Pending Sale ………………
37
-19.6%
Properties For Sale …………….……...
258
Properties For Sale …………….……...
262
1.6%
Days on Market (Pending Sale) ….…..
99
Days on Market (Pending Sale) ….…..
70
-28.8%
Percent Under Contract ………….……
17.83%
Percent Under Contract ………….……
14.12%
-20.8%
BEVERLYWOOD
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,200,000
Median Price ……………………..……. $1,547,500
Average Price per Square Foot ….…
$738
Average Price per Square Foot ….…
$771
4.5%
Properties Sold ……………………….
37
Properties Sold ……………………….
50
35.1%
Properties Pending Sale ………………
45
Properties Pending Sale ………………
41
-8.9%
Properties For Sale …………….……...
92
Properties For Sale …………….……...
110
19.6%
Days on Market (Pending Sale) ….…..
32
Days on Market (Pending Sale) ….…..
41
31.0%
Percent Under Contract ………….……
48.91%
Percent Under Contract ………….……
37.27%
-23.8%
29.0%
BRENTWOOD
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..…….$2,785,000
Median Price ……………………..……. $2,910,000
4.5%
Average Price per Square Foot ….…
$1,072
Average Price per Square Foot ….…
$1,122
4.7%
Properties Sold ……………………….
73
Properties Sold ……………………….
77
5.5%
Properties Pending Sale ………………
59
Properties Pending Sale ………………
66
11.99%
Properties For Sale …………….……...
230
Properties For Sale …………….……...
275
19.6%
Days on Market (Pending Sale) ….…..
55
Days on Market (Pending Sale) ….…..
59
9.0%
Percent Under Contract ………….……
25.65%
Percent Under Contract ………….……
24.00%
-6.4%
BRENTWOOD
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$860,000
Median Price ……………………..……. $1,055,500
Average Price per Square Foot ….…
$676
Average Price per Square Foot ….…
$689
1.9%
Properties Sold ……………………….
46
Properties Sold ……………………….
51
10.9%
Properties Pending Sale ………………
49
Properties Pending Sale ………………
37
-24.5%
Properties For Sale …………….……...
93
Properties For Sale …………….……...
100
7.5%
Days on Market (Pending Sale) ….…..
48
Days on Market (Pending Sale) ….…..
37
-23.3%
Percent Under Contract ………….……
52.69%
Percent Under Contract ………….……
37.00%
-29.8%
22.7%
BURBANK
SFR
Q3 2017
Q3 2018
% CHANGE
Median Price ……………………..…….
$775,000
Median Price ……………………..…….
$850,000
9.7%
Average Price per Square Foot ….…
$523
Average Price per Square Foot ….…
$562
7.5%
Properties Sold ……………………….
163
Properties Sold ……………………….
166
1.8%
Properties Pending Sale ………………
150
Properties Pending Sale ………………
164
9.3%
Properties For Sale …………….……...
308
Properties For Sale …………….……...
317
2.9%
Days on Market (Pending Sale) ….…..
38
Days on Market (Pending Sale) ….…..
33
-11.6%
Percent Under Contract ………….……
48.70%
Percent Under Contract ………….……
51.74%
6.2%
BURBANK
CONDO
Q3 2017
Q3 2018
% CHANGE
Median Price ……………………..…….
$491,500
Median Price ……………………..…….
$565,000
15.0%
Average Price per Square Foot ….…
$416
Average Price per Square Foot ….…
$468
12.5%
Properties Sold ……………………….
36
Properties Sold ……………………….
36
0.0%
Properties Pending Sale ………………
39
Properties Pending Sale ………………
41
5.1%
Properties For Sale …………….……...
74
Properties For Sale …………….……...
62
-16.2%
Days on Market (Pending Sale) ….…..
40
Days on Market (Pending Sale) ….…..
35
-12.2%
Percent Under Contract ………….……
52.70%
Percent Under Contract ………….……
66.13%
25.5%
CALABASAS
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,475,000
Median Price ……………………..……. $1,592,000
7.9%
Average Price per Square Foot ….…
$461
Average Price per Square Foot ….…
$477
3.5%
Properties Sold ……………………….
82
Properties Sold ……………………….
59
-28.0%
Properties Pending Sale ………………
64
Properties Pending Sale ………………
65
1.6%
Properties For Sale …………….……...
196
Properties For Sale …………….……...
224
14.3%
Days on Market (Pending Sale) ….…..
68
Days on Market (Pending Sale) ….…..
62
-9.4%
Percent Under Contract ………….……
32.65%
Percent Under Contract ………….……
29.02%
-11.1%
CALABASAS
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$476,450
Median Price ……………………..…….
$531,000
11.4%
Average Price per Square Foot ….…
$447
Average Price per Square Foot ….…
$424
-5.1%
Properties Sold ……………………….
8
Properties Sold ……………………….
9
12.5%
Properties Pending Sale ………………
8
Properties Pending Sale ………………
7
-12.5%
Properties For Sale …………….……...
17
Properties For Sale …………….……...
32
88.2%
Days on Market (Pending Sale) ….…..
62
Days on Market (Pending Sale) ….…..
43
-30.8%
Percent Under Contract ………….……
47.06%
Percent Under Contract ………….……
21.88%
-53.5%
CHEVIOT HILLS-RANCH PARK
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,800,875
Median Price ……………………..……. $2,200,000
22.2%
Average Price per Square Foot ….…
$875
Average Price per Square Foot ….…
$817
-6.6%
Properties Sold ……………………….
22
Properties Sold ……………………….
29
31.8%
Properties Pending Sale ………………
17
Properties Pending Sale ………………
20
17.6%
Properties For Sale …………….……...
47
Properties For Sale …………….……...
46
-2.1%
Days on Market (Pending Sale) ….…..
59
Days on Market (Pending Sale) ….…..
40
-32.0%
Percent Under Contract ………….……
36.17%
Percent Under Contract ………….……
43.48%
20.2%
CULVER CITY
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,200,250
Median Price ……………………..……. $1,295,250
Average Price per Square Foot ….…
$805
Average Price per Square Foot ….…
$890
10.6%
Properties Sold ……………………….
72
Properties Sold ……………………….
69
-4.2%
Properties Pending Sale ………………
62
Properties Pending Sale ………………
66
6.5%
Properties For Sale …………….……...
126
Properties For Sale …………….……...
146
15.9%
Days on Market (Pending Sale) ….…..
28
Days on Market (Pending Sale) ….…..
32
11.7%
Percent Under Contract ………….……
52.94%
Percent Under Contract ………….……
56.35%
-8.1%
7.9%
CULVER CITY
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$540,500
Median Price ……………………..…….
$570,000
5.5%
Average Price per Square Foot ….…
$543
Average Price per Square Foot ….…
$573
5.5%
Properties Sold ……………………….
40
Properties Sold ……………………….
41
2.5%
Properties Pending Sale ………………
32
Properties Pending Sale ………………
42
31.2%
Properties For Sale …………….……...
49
Properties For Sale …………….……...
83
69.4%
Days on Market (Pending Sale) ….…..
32
Days on Market (Pending Sale) ….…..
27
-16.8%
Percent Under Contract ………….……
65.31%
Percent Under Contract ………….……
50.60%
-22.5%
DOWNTOWN
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..…….
$350,000
Median Price ……………………..…….
$380,000
8.6%
Average Price per Square Foot ….…
$348
Average Price per Square Foot ….…
$363
4.3%
Properties Sold ……………………….
24
Properties Sold ……………………….
21
-12.5%
Properties Pending Sale ………………
27
Properties Pending Sale ………………
31
14.8%
Properties For Sale …………….……...
97
Properties For Sale …………….……...
90
-7.2%
Days on Market (Pending Sale) ….…..
90
Days on Market (Pending Sale) ….…..
39
-57.0%
Percent Under Contract ………….……
27.48%
Percent Under Contract ………….……
34.44%
23.7%
DOWNTOWN
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$622,500
Median Price ……………………..…….
$682,500
9.6%
Average Price per Square Foot ….…
$700
Average Price per Square Foot ….…
$686
-2.0%
Properties Sold ……………………….
132
Properties Sold ……………………….
107
-18.9%
Properties Pending Sale ………………
128
Properties Pending Sale ………………
99
-22.7%
Properties For Sale …………….……...
399
Properties For Sale …………….……...
345
-13.5%
Days on Market (Pending Sale) ….…..
56
Days on Market (Pending Sale) ….…..
55
-1.0%
Percent Under Contract ………….……
32.08%
Percent Under Contract ………….……
28.70%
-10.6%
ENCINO
SFR
Q3 2017
Q3 2018
% CHANGE
Median Price ……………………..……. $1,322,500
Median Price ……………………..……. $1,475,000
Average Price per Square Foot ….…
$536
Average Price per Square Foot ….…
$579
8.0%
Properties Sold ……………………….
134
Properties Sold ……………………….
111
-17.2%
Properties Pending Sale ………………
129
Properties Pending Sale ………………
112
-13.2%
Properties For Sale …………….……...
355
Properties For Sale …………….……...
385
8.5%
Days on Market (Pending Sale) ….…..
60
Days on Market (Pending Sale) ….…..
51
-14.8%
Percent Under Contract ………….……
36.34%
Percent Under Contract ………….……
29.09%
-19.9%
11.5%
ENCINO
CONDO
Q3 2017
Q3 2018
% CHANGE
Median Price ……………………..…….
$395,000
Median Price ……………………..…….
$428,000
8.4%
Average Price per Square Foot ….…
$371
Average Price per Square Foot ….…
$393
5.9%
Properties Sold ……………………….
51
Properties Sold ……………………….
42
-17.6%
Properties Pending Sale ………………
58
Properties Pending Sale ………………
42
-27.6%
Properties For Sale …………….……...
112
Properties For Sale …………….……...
108
-3.6%
Days on Market (Pending Sale) ….…..
43
Days on Market (Pending Sale) ….…..
50
16.5%
Percent Under Contract ………….……
51.79%
Percent Under Contract ………….……
38.89%
-24.9%
HANCOCK PARK-WILSHIRE
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,656,968
Median Price ……………………..……. $1,868,000
12.7%
Average Price per Square Foot ….…
$729
Average Price per Square Foot ….…
$843
15.6%
Properties Sold ……………………….
78
Properties Sold ……………………….
68
-12.8%
Properties Pending Sale ………………
70
Properties Pending Sale ………………
66
-5.7%
Properties For Sale …………….……...
184
Properties For Sale …………….……...
210
14.1%
Days on Market (Pending Sale) ….…..
50
Days on Market (Pending Sale) ….…..
42
-15.9%
Percent Under Contract ………….……
38.04%
Percent Under Contract ………….……
31.43%
-17.4%
HOLLYWOOD
Q3 2017
SFR
Q3 2018
Median Price ……………………..…….
$999,000
Average Price per Square Foot ….…
% CHANGE
Median Price ……………………..……. $1,094,500
9.6%
$627
Average Price per Square Foot ….…
$673
7.3%
Properties Sold ……………………….
28
Properties Sold ……………………….
24
-14.3%
Properties Pending Sale ………………
29
Properties Pending Sale ………………
29
0.0%
Properties For Sale …………….……...
84
Properties For Sale …………….……...
75
-10.7%
Days on Market (Pending Sale) ….…..
52
Days on Market (Pending Sale) ….…..
41
-22.1%
Percent Under Contract ………….……
34.52%
Percent Under Contract ………….……
38.67%
12.0%
HOLLYWOOD
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$700,000
Median Price ……………………..…….
$649,000
-7.3%
Average Price per Square Foot ….…
$552
Average Price per Square Foot ….…
$586
6.2%
Properties Sold ……………………….
23
Properties Sold ……………………….
82
26.1%
Properties Pending Sale ………………
24
Properties Pending Sale ………………
25
4.2%
Properties For Sale …………….……...
78
Properties For Sale …………….……...
29
5.1%
Days on Market (Pending Sale) ….…..
70
Days on Market (Pending Sale) ….…..
52
-25.4%
Percent Under Contract ………….……
30.77%
Percent Under Contract ………….……
30.49%
-0.9%
HOLLYWOOD HILLS EAST
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,512,266
Median Price ……………………..……. $1,428,000
Average Price per Square Foot ….…
$629
Average Price per Square Foot ….…
$643
2.2%
Properties Sold ……………………….
44
Properties Sold ……………………….
38
-13.6%
Properties Pending Sale ………………
40
Properties Pending Sale ………………
33
-17.5%
Properties For Sale …………….……...
138
Properties For Sale …………….……...
128
-7.2%
Days on Market (Pending Sale) ….…..
78
Days on Market (Pending Sale) ….…..
49
-37.1%
Percent Under Contract ………….……
28.99%
Percent Under Contract ………….……
25.78%
-11.1%
-5.6%
LOS FELIZ
SFR
Q3 2017
Q3 2018
% CHANGE
Median Price ……………………..……. $1,787,500
Median Price ……………………..……. $1,862,500
Average Price per Square Foot ….…
$723
Average Price per Square Foot ….…
$836
15.6%
Properties Sold ……………………….
54
Properties Sold ……………………….
40
-25.9%
Properties Pending Sale ………………
61
Properties Pending Sale ………………
52
-14.8%
Properties For Sale …………….……...
157
Properties For Sale …………….……...
144
-8.3%
Days on Market (Pending Sale) ….…..
50
Days on Market (Pending Sale) ….…..
34
-32.4%
Percent Under Contract ………….……
38.85%
Percent Under Contract ………….……
36.11%
-7.1%
4.2%
LOS FELIZ
CONDO
Q3 2017
Q3 2018
% CHANGE
Median Price ……………………..…….
$585,000
Median Price ……………………..…….
$648,000
10.8%
Average Price per Square Foot ….…
$583
Average Price per Square Foot ….…
$600
2.9%
Properties Sold ……………………….
7
Properties Sold ……………………….
9
28.6%
Properties Pending Sale ………………
7
Properties Pending Sale ………………
7
0.0%
Properties For Sale …………….……...
14
Properties For Sale …………….……...
19
35.7%
Days on Market (Pending Sale) ….…..
72
Days on Market (Pending Sale) ….…..
37
-48.0%
Percent Under Contract ………….……
50.00%
Percent Under Contract ………….……
36.84%
-26.3%
MALIBU
SFR
Q3 2017
Q3 2018
% CHANGE
Median Price ……………………..……. $3,000,000
Median Price ……………………..……. $2,555,000
Average Price per Square Foot ….…
$999
Average Price per Square Foot ….…
$1,015
1.6%
Properties Sold ……………………….
58
Properties Sold ……………………….
52
-10.3%
Properties Pending Sale ………………
50
Properties Pending Sale ………………
43
-14.0%
Properties For Sale …………….……...
303
Properties For Sale …………….……...
334
10.2%
Days on Market (Pending Sale) ….…..
108
Days on Market (Pending Sale) ….…..
86
-20.5%
Percent Under Contract ………….……
16.50%
Percent Under Contract ………….……
12.87%
-22.0%
-14.8%
MALIBU BEACH
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $7,500,000
Median Price ……………………..……. $4,387,500
-41.5%
Average Price per Square Foot ….…
$2,487
Average Price per Square Foot ….…
$1,965
-21.0%
Properties Sold ……………………….
12
Properties Sold ……………………….
12
0.0%
Properties Pending Sale ………………
14
Properties Pending Sale ………………
18
28.6%
Properties For Sale …………….……...
114
Properties For Sale …………….……...
100
-12.3%
Days on Market (Pending Sale) ….…..
169
Days on Market (Pending Sale) ….…..
180
6.2%
Percent Under Contract ………….……
12.28%
Percent Under Contract ………….……
18.00%
46.6%
MARINA DEL REY
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,280,000
Median Price ……………………..……. $1,410,000
10.2%
Average Price per Square Foot ….…
$753
Average Price per Square Foot ….…
$867
15.1%
Properties Sold ……………………….
27
Properties Sold ……………………….
18
-33.3%
Properties Pending Sale ………………
25
Properties Pending Sale ………………
26
4.0%
Properties For Sale …………….……...
58
Properties For Sale …………….……...
73
25.9%
Days on Market (Pending Sale) ….…..
54
Days on Market (Pending Sale) ….…..
37
-30.4%
Percent Under Contract ………….……
43.10%
Percent Under Contract ………….……
35.62%
-17.4%
MARINA DEL REY
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$940,000
Median Price ……………………..……. $1,059,500
Average Price per Square Foot ….…
$709
Average Price per Square Foot ….…
$724
2.1%
Properties Sold ……………………….
59
Properties Sold ……………………….
66
11.9%
Properties Pending Sale ………………
58
Properties Pending Sale ………………
63
8.6%
Properties For Sale …………….……...
162
Properties For Sale …………….……...
182
12.3%
Days on Market (Pending Sale) ….…..
49
Days on Market (Pending Sale) ….…..
41
-16.2%
Percent Under Contract ………….……
35.80%
Percent Under Contract ………….……
34.62%
-3.3%
12.7%
MID LOS ANGELES
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..…….
$752,396
Median Price ……………………..…….
$869,850
15.6%
Average Price per Square Foot ….…
$451
Average Price per Square Foot ….…
$525
16.4%
Properties Sold ……………………….
106
Properties Sold ……………………….
88
-17.0%
Properties Pending Sale ………………
85
Properties Pending Sale ………………
111
30.6%
Properties For Sale …………….……...
222
Properties For Sale …………….……...
240
8.1%
Days on Market (Pending Sale) ….…..
41
Days on Market (Pending Sale) ….…..
33
-20.0%
Percent Under Contract ………….……
38.29%
Percent Under Contract ………….……
46.25%
20.8%
MID WILSHIRE
Q3 2017
SFR
Q3 2018
Median Price ……………………..…….
$900,000
Average Price per Square Foot ….…
% CHANGE
Median Price ……………………..……. $1,175,000
30.6%
$442
Average Price per Square Foot ….…
$593
34.2%
Properties Sold ……………………….
13
Properties Sold ……………………….
10
-23.1%
Properties Pending Sale ………………
10
Properties Pending Sale ………………
18
80.0%
Properties For Sale …………….……...
36
Properties For Sale …………….……...
66
83.3%
Days on Market (Pending Sale) ….…..
56
Days on Market (Pending Sale) ….…..
35
-37.8%
Percent Under Contract ………….……
27.78%
Percent Under Contract ………….……
27.27%
-1.8%
PACIFIC PALISADES
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $3,212,500
Median Price ……………………..……. $3,003,000
Average Price per Square Foot ….…
$1,099
Average Price per Square Foot ….…
$1,153
4.9%
Properties Sold ……………………….
74
Properties Sold ……………………….
53
-28.4%
Properties Pending Sale ………………
72
Properties Pending Sale ………………
58
-19.4%
Properties For Sale …………….……...
199
Properties For Sale …………….……...
206
3.5%
Days on Market (Pending Sale) ….…..
65
Days on Market (Pending Sale) ….…..
55
-16.2%
Percent Under Contract ………….……
36.18%
Percent Under Contract ………….……
28.16%
-22.2%
-6.5%
PALMS – MAR VISTA
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,525,000
Median Price ……………………..……. $1,656,000
8.6%
Average Price per Square Foot ….…
$810
Average Price per Square Foot ….…
$835
3.1%
Properties Sold ……………………….
87
Properties Sold ……………………….
79
-9.2%
Properties Pending Sale ………………
88
Properties Pending Sale ………………
68
-22.7%
Properties For Sale …………….……...
180
Properties For Sale …………….……...
195
8.3%
Days on Market (Pending Sale) ….…..
38
Days on Market (Pending Sale) ….…..
31
-19.7%
Percent Under Contract ………….……
48.89%
Percent Under Contract ………….……
34.87%
-28.7%
PLAYA DEL REY
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,708,500
Median Price ……………………..……. $1,607,500
-5.9%
Average Price per Square Foot ….…
$762
Average Price per Square Foot ….…
$726
-4.7%
Properties Sold ……………………….
14
Properties Sold ……………………….
12
-14.3%
Properties Pending Sale ………………
10
Properties Pending Sale ………………
11
10.0%
Properties For Sale …………….……...
32
Properties For Sale …………….……...
45
40.6%
Days on Market (Pending Sale) ….…..
46
Days on Market (Pending Sale) ….…..
57
25.2%
Percent Under Contract ………….……
31.25%
Percent Under Contract ………….……
24.44%
-21.8%
PLAYA DEL REY
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$600,000
Median Price ……………………..…….
$637,000
6.2%
Average Price per Square Foot ….…
$562
Average Price per Square Foot ….…
$595
5.9%
Properties Sold ……………………….
37
Properties Sold ……………………….
32
-13.5%
Properties Pending Sale ………………
36
Properties Pending Sale ………………
31
-13.9%
Properties For Sale …………….……...
56
Properties For Sale …………….……...
51
-8.9%
Days on Market (Pending Sale) ….…..
31
Days on Market (Pending Sale) ….…..
29
-6.5%
Percent Under Contract ………….……
64.29%
Percent Under Contract ………….……
60.78%
-5.4%
PLAYA VISTA
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $2,187,500
Median Price ……………………..……. $2,240,000
2.4%
Average Price per Square Foot ….…
$718
Average Price per Square Foot ….…
$766
6.7%
Properties Sold ……………………….
10
Properties Sold ……………………….
4
-60.0%
Properties Pending Sale ………………
6
Properties Pending Sale ………………
4
-33.3%
Properties For Sale …………….……...
18
Properties For Sale …………….……...
25
38.9%
Days on Market (Pending Sale) ….…..
57
Days on Market (Pending Sale) ….…..
18
-68.5%
Percent Under Contract ………….……
33.33%
Percent Under Contract ………….……
16.00%
-52.0%
PLAYA VISTA
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..……. $1,050,118
Median Price ……………………..……. $1,040,000
Average Price per Square Foot ….…
$692
Average Price per Square Foot ….…
$713
3.0%
Properties Sold ……………………….
32
Properties Sold ……………………….
29
-9.4%
Properties Pending Sale ………………
38
Properties Pending Sale ………………
27
-28.9%
Properties For Sale …………….……...
53
Properties For Sale …………….……...
73
37.7%
Days on Market (Pending Sale) ….…..
31
Days on Market (Pending Sale) ….…..
26
-13.6%
Percent Under Contract ………….……
71.70%
Percent Under Contract ………….……
36.99%
-48.4%
-1.0%
SANTA MONICA
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $2,766,500
Median Price ……………………..…….$2,820,000
1.9%
Average Price per Square Foot ….…
$1,165
Average Price per Square Foot ….…
$1,238
6.3%
Properties Sold ……………………….
60
Properties Sold ……………………….
51
-15.0%
Properties Pending Sale ………………
56
Properties Pending Sale ………………
53
-5.4%
Properties For Sale …………….……...
148
Properties For Sale …………….……...
176
18.9%
Days on Market (Pending Sale) ….…..
46
Days on Market (Pending Sale) ….…..
47
1.4%
Percent Under Contract ………….……
37.84%
Percent Under Contract ………….……
30.11%
-20.4%
SANTA MONICA
Q3 2017
CONDO
Q3 2018
Median Price ……………………..…….
$978,000
Average Price per Square Foot ….…
% CHANGE
Median Price ……………………..……. $1,143,000
16.9%
$1,002
Average Price per Square Foot ….…
$989
-1.3%
Properties Sold ……………………….
90
Properties Sold ……………………….
73
-18.9%
Properties Pending Sale ………………
90
Properties Pending Sale ………………
61
-32.2%
Properties For Sale …………….……...
177
Properties For Sale …………….……...
181
2.3%
Days on Market (Pending Sale) ….…..
29
Days on Market (Pending Sale) ….…..
36
27.1%
Percent Under Contract ………….……
50.85%
Percent Under Contract ………….……
33.70%
-33.7%
SHERMAN OAKS
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,120,000
Median Price ……………………..……. $1,230,000
9.8%
Average Price per Square Foot ….…
$531
Average Price per Square Foot ….…
$577
8.7%
Properties Sold ……………………….
181
Properties Sold ……………………….
158
-12.7%
Properties Pending Sale ………………
181
Properties Pending Sale ………………
140
-22.7%
Properties For Sale …………….……...
436
Properties For Sale …………….……...
418
-4.1%
Days on Market (Pending Sale) ….…..
56
Days on Market (Pending Sale) ….…..
44
-20.8%
Percent Under Contract ………….……
41.51%
Percent Under Contract ………….……
33.49%
-19.3%
SHERMAN OAKS
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$529,000
Median Price ……………………..…….
$529,000
0.0%
Average Price per Square Foot ….…
$384
Average Price per Square Foot ….…
$421
9.6%
Properties Sold ……………………….
73
Properties Sold ……………………….
58
-20.5%
Properties Pending Sale ………………
65
Properties Pending Sale ………………
56
-13.8%
Properties For Sale …………….……...
118
Properties For Sale …………….……...
145
22.9%
Days on Market (Pending Sale) ….…..
51
Days on Market (Pending Sale) ….…..
33
-34.6%
Percent Under Contract ………….……
55.08%
Percent Under Contract ………….……
38.62%
-29.9%
SILVER LAKE – ECHO PARK
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,031,812
Median Price ……………………..……. $1,040,890
0.9%
Average Price per Square Foot ….…
$677
Average Price per Square Foot ….…
$717
5.9%
Properties Sold ……………………….
108
Properties Sold ……………………….
98
-9.3%
Properties Pending Sale ………………
96
Properties Pending Sale ………………
95
-1.0%
Properties For Sale …………….……...
228
Properties For Sale …………….……...
243
6.6%
Days on Market (Pending Sale) ….…..
39
Days on Market (Pending Sale) ….…..
36
-6.3%
Percent Under Contract ………….……
42.11%
Percent Under Contract ………….……
39.09%
-7.2%
STUDIO CITY
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,306,250
Median Price ……………………..……. $1,550,000
18.7%
Average Price per Square Foot ….…
$576
Average Price per Square Foot ….…
$690
19.8%
Properties Sold ……………………….
90
Properties Sold ……………………….
93
3.3%
Properties Pending Sale ………………
93
Properties Pending Sale ………………
84
-9.7%
Properties For Sale …………….……...
254
Properties For Sale …………….……...
260
2.4%
Days on Market (Pending Sale) ….…..
59
Days on Market (Pending Sale) ….…..
49
-16.8%
Percent Under Contract ………….……
36.61%
Percent Under Contract ………….……
32.31%
-11.8%
STUDIO CITY
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$671,750
Median Price ……………………..…….
$725,000
7.9%
Average Price per Square Foot ….…
$497
Average Price per Square Foot ….…
$481
-3.2%
Properties Sold ……………………….
64
Properties Sold ……………………….
33
-48.4%
Properties Pending Sale ………………
55
Properties Pending Sale ………………
29
-47.3%
Properties For Sale …………….……...
99
Properties For Sale …………….……...
62
-37.4%
Days on Market (Pending Sale) ….…..
41
Days on Market (Pending Sale) ….…..
35
-13.3%
Percent Under Contract ………….……
55.56%
Percent Under Contract ………….……
46.77%
-15.8%
SUNSET STRIP – HOLLYWOOD HILLS WEST
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,749,000
Median Price ……………………..……. $2,000,000
Average Price per Square Foot ….…
$857
Average Price per Square Foot ….…
$935
9.1%
Properties Sold ……………………….
118
Properties Sold ……………………….
109
-7.6%
Properties Pending Sale ………………
108
Properties Pending Sale ………………
108
0.0%
Properties For Sale …………….……...
551
Properties For Sale …………….……...
588
6.7%
Days on Market (Pending Sale) ….…..
76
Days on Market (Pending Sale) ….…..
76
0.0%
Percent Under Contract ………….……
19.60%
Percent Under Contract ………….……
18.37%
-6.3%
14.4%
SUNSET STRIP – HOLLYWOOD HILLS WEST
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$559,000
Median Price ……………………..…….
$630,000
12.7%
Average Price per Square Foot ….…
$767
Average Price per Square Foot ….…
$825
7.6%
Properties Sold ……………………….
27
Properties Sold ……………………….
23
-14.8%
Properties Pending Sale ………………
27
Properties Pending Sale ………………
23
-14.8%
Properties For Sale …………….……...
76
Properties For Sale …………….……...
59
-22.4%
Days on Market (Pending Sale) ….…..
49
Days on Market (Pending Sale) ….…..
38
22.4%
Percent Under Contract ………….……
35.53%
Percent Under Contract ………….……
38.98%
9.7%
TOPANGA
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,416,500
Median Price ……………………..……. $1,180,000
Average Price per Square Foot ….…
$629
Average Price per Square Foot ….…
$670
6.5%
Properties Sold ……………………….
23
Properties Sold ……………………….
22
-4.3%
Properties Pending Sale ………………
21
Properties Pending Sale ………………
19
-9.5%
Properties For Sale …………….……...
104
Properties For Sale …………….……...
82
-21.2%
Days on Market (Pending Sale) ….…..
59
Days on Market (Pending Sale) ….…..
60
1.4%
Percent Under Contract ………….……
20.19%
Percent Under Contract ………….……
23.17%
14.8%
-16.7%
VENICE
SFR
Q3 2017
Q3 2018
% CHANGE
Median Price ……………………..……. $2,130,000
Median Price ……………………..……. $2,120,000
-0.5%
Average Price per Square Foot ….…
$1,128
Average Price per Square Foot ….…
$1,250
10.8%
Properties Sold ……………………….
57
Properties Sold ……………………….
53
-7.0%
Properties Pending Sale ………………
51
Properties Pending Sale ………………
48
-5.9%
Properties For Sale …………….……...
162
Properties For Sale …………….……...
183
13.0%
Days on Market (Pending Sale) ….…..
46
Days on Market (Pending Sale) ….…..
43
-5.8%
Percent Under Contract ………….……
31.48%
Percent Under Contract ………….……
26.23%
-16.7%
VENICE
CONDO
Q3 2017
Q3 2018
% CHANGE
Median Price ……………………..……. $1,244,000
Median Price ……………………..……. $1,740,500
39.9%
Average Price per Square Foot ….…
$958
Average Price per Square Foot ….…
$1,121
17.0%
Properties Sold ……………………….
7
Properties Sold ……………………….
6
-14.3%
Properties Pending Sale ………………
5
Properties Pending Sale ………………
6
20.0%
Properties For Sale …………….……...
25
Properties For Sale …………….……...
23
-8.0%
Days on Market (Pending Sale) ….…..
27
Days on Market (Pending Sale) ….…..
72
160.9%
Percent Under Contract ………….……
20.00%
Percent Under Contract ………….……
26.09%
30.4%
WEST HOLLYWOOD
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,930,000
Median Price ……………………..……. $1,781,525
-7.7%
Average Price per Square Foot ….…
$975
Average Price per Square Foot ….…
$879
-9.8%
Properties Sold ……………………….
38
Properties Sold ……………………….
30
-21.1%
Properties Pending Sale ………………
36
Properties Pending Sale ………………
25
-30.6%
Properties For Sale …………….……...
96
Properties For Sale …………….……...
118
22.9%
Days on Market (Pending Sale) ….…..
54
Days on Market (Pending Sale) ….…..
37
-31.2%
Percent Under Contract ………….……
37.50%
Percent Under Contract ………….……
21.19%
-43.5%
WEST HOLLYWOOD
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$701,500
Median Price ……………………..…….
$780,000
11.2%
Average Price per Square Foot ….…
$677
Average Price per Square Foot ….…
$719
6.2%
Properties Sold ……………………….
96
Properties Sold ……………………….
88
-8.3%
Properties Pending Sale ………………
94
Properties Pending Sale ………………
82
-12.8%
Properties For Sale …………….……...
227
Properties For Sale …………….……...
212
-6.6%
Days on Market (Pending Sale) ….…..
45
Days on Market (Pending Sale) ….…..
33
-27.8%
Percent Under Contract ………….……
41.41%
Percent Under Contract ………….……
38.68%
-6.6%
WEST LOS ANGELES
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,229,000
Median Price ……………………..……. $1,483,000
20.7%
Average Price per Square Foot ….…
$762
Average Price per Square Foot ….…
$839
10.1%
Properties Sold ……………………….
41
Properties Sold ……………………….
31
-24.4%
Properties Pending Sale ………………
36
Properties Pending Sale ………………
35
-2.8%
Properties For Sale …………….……...
69
Properties For Sale …………….……...
93
34.8%
Days on Market (Pending Sale) ….…..
52
Days on Market (Pending Sale) ….…..
35
-32.9%
Percent Under Contract ………….……
52.17%
Percent Under Contract ………….……
37.63%
-27.9%
WEST LOS ANGELES
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$805,000
Median Price ……………………..…….
$847,500
5.3%
Average Price per Square Foot ….…
$603
Average Price per Square Foot ….…
$646
7.1%
Properties Sold ……………………….
42
Properties Sold ……………………….
34
-19.0%
Properties Pending Sale ………………
40
Properties Pending Sale ………………
36
-10.0%
Properties For Sale …………….……...
62
Properties For Sale …………….……...
71
14.5%
Days on Market (Pending Sale) ….…..
33
Days on Market (Pending Sale) ….…..
32
-2.3%
Percent Under Contract ………….……
64.52%
Percent Under Contract ………….……
50.70%
-21.4%
WESTCHESTER
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $1,205,000
Median Price ……………………..……. $1,250,000
3.7%
Average Price per Square Foot ….…
$654
Average Price per Square Foot ….…
$707
8.1%
Properties Sold ……………………….
94
Properties Sold ……………………….
80
-14.9%
Properties Pending Sale ………………
90
Properties Pending Sale ………………
78
-13.3%
Properties For Sale …………….……...
180
Properties For Sale …………….……...
177
-1.7%
Days on Market (Pending Sale) ….…..
38
Days on Market (Pending Sale) ….…..
33
-14.9%
Percent Under Contract ………….……
50.00%
Percent Under Contract ………….……
44.07%
-11.9%
WESTCHESTER
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$462,500
Median Price ……………………..…….
$535,000
15.7%
Average Price per Square Foot ….…
$472
Average Price per Square Foot ….…
$501
6.1%
Properties Sold ……………………….
10
Properties Sold ……………………….
11
10.0%
Properties Pending Sale ………………
9
Properties Pending Sale ………………
13
44.4%
Properties For Sale …………….……...
11
Properties For Sale …………….……...
17
54.5%
Days on Market (Pending Sale) ….…..
30
Days on Market (Pending Sale) ….…..
28
-6.0%
Percent Under Contract ………….……
81.82%
Percent Under Contract ………….……
76.47%
-6.5%
WESTWOOD – CENTURY CITY
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..……. $2,039,998
Median Price ……………………..……. $2,166,085
6.2%
Average Price per Square Foot ….…
$899
Average Price per Square Foot ….…
$962
7.0%
Properties Sold ……………………….
35
Properties Sold ……………………….
31
-11.4%
Properties Pending Sale ………………
36
Properties Pending Sale ………………
37
2.8%
Properties For Sale …………….……...
96
Properties For Sale …………….……...
102
6.2%
Days on Market (Pending Sale) ….…..
38
Days on Market (Pending Sale) ….…..
40
4.0%
Percent Under Contract ………….……
37.50%
Percent Under Contract ………….……
36.27%
-3.3%
WESTWOOD – CENTURY CITY
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$871,000
Median Price ……………………..…….
$926,250
6.3%
Average Price per Square Foot ….…
$700
Average Price per Square Foot ….…
$794
13.4%
Properties Sold ……………………….
121
Properties Sold ……………………….
128
5.8%
Properties Pending Sale ………………
116
Properties Pending Sale ………………
129
11.2%
Properties For Sale …………….……...
336
Properties For Sale …………….……...
377
12.2%
Days on Market (Pending Sale) ….…..
54
Days on Market (Pending Sale) ….…..
43
-20.1%
Percent Under Contract ………….……
34.52%
Percent Under Contract ………….……
34.22%
-0.9%
WOODLAND HILLS
Q3 2017
SFR
Q3 2018
% CHANGE
Median Price ……………………..…….
$804,500
Median Price ……………………..…….
$850,000
5.7%
Average Price per Square Foot ….…
$386
Average Price per Square Foot ….…
$400
3.6%
Properties Sold ……………………….
220
Properties Sold ……………………….
175
-20.5%
Properties Pending Sale ………………
208
Properties Pending Sale ………………
178
-14.4%
Properties For Sale …………….……...
522
Properties For Sale …………….……...
480
-8.0%
Days on Market (Pending Sale) ….…..
58
Days on Market (Pending Sale) ….…..
47
-20.0%
Percent Under Contract ………….……
39.85%
Percent Under Contract ………….……
37.08%
-6.9%
WOODLAND HILLS
Q3 2017
CONDO
Q3 2018
% CHANGE
Median Price ……………………..…….
$412,500
Median Price ……………………..…….
$439,000
6.4%
Average Price per Square Foot ….…
$433
Average Price per Square Foot ….…
$453
4.6%
Properties Sold ……………………….
56
Properties Sold ……………………….
27
-51.8%
Properties Pending Sale ………………
48
Properties Pending Sale ………………
38
-20.8%
Properties For Sale …………….……...
75
Properties For Sale …………….……...
78
4.0%
Days on Market (Pending Sale) ….…..
47
Days on Market (Pending Sale) ….…..
34
-28.1%
Percent Under Contract ………….……
64.00%
Percent Under Contract ………….……
48.72%
-23.9%
Glossary of Terms
Median Price: A value that separates the upper half of prices from the lower half of prices. It can be interpreted like an average, however the extreme prices (high and low) don’t hold undue. Average Price per Square Foot: The price per each property divided by their respective square footage then averaged across all properties sold in the area for a given time period. Properties Sold: The number of property transactions that closed and transferred ownership. Properties Pending Sale: The number of properties that entered escrow in preparation for sale.
Properties For Sale: The number of properties on the market and seeking buyers.
Days on Market (Pending Sale): The number of days that properties currently in escrow were on the market. Absorption Rate: The rate at which the inventory of home for sale are being sold.
Percent Under Contract: The ratio of properties to properties sale.
Disclaimer
The Market Within A Market Report is brought to you by Michael Lewis Marketing Suite, a highend, luxury consulting, brand building, marketing firm located in California and Florida. www.michaellewismarketingsuite.com Information obtained from Broker Metrics and DataQuick. Broker Metrics and DataQuick statistics are subject to change due to individual real estate company reporting disciplines. The information provided herein is from sources we believe to be reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it.