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 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,985,000
Median Price ……………………..…….
$2,015,000
1.5%
Average Price per Square Foot ….…
$839
Average Price per Square Foot ….…
$760
-9.4%
Properties Sold ……………………….
33
Properties Sold ……………………….
43
30.3%
Properties Pending Sale ………………
27
Properties Pending Sale ………………
42
55.6%
Properties For Sale …………….……...
185
Properties For Sale …………….……...
187
1.1%
Days on Market (Pending Sale) ….…..
66
Days on Market (Pending Sale) ….…..
54
-19.5%
Percent Under Contract ………….……
14.59%
Percent Under Contract ………….……
22.46%
53.91%
BEVERLY CENTER – MIRACLE MILE
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,315,000
Median Price ……………………..…….
$1,648,000
25.3%
Average Price per Square Foot ….…
$670
Average Price per Square Foot ….…
$748
11.6%
Properties Sold ……………………….
59
Properties Sold ……………………….
45
-23.7%
Properties Pending Sale ………………
61
Properties Pending Sale ………………
39
-36.1%
Properties For Sale …………….……...
134
Properties For Sale …………….……...
113
-15.7%
Days on Market (Pending Sale) ….…..
48
Days on Market (Pending Sale) ….…..
38
-20.4%
Percent Under Contract ………….……
45.52%
Percent Under Contract ………….……
34.51%
-24.2%
BEVERLY CENTER – MIRACLE MILE
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$625,200
Median Price ……………………..…….
$752,500
20.4%
Average Price per Square Foot ….…
$486
Average Price per Square Foot ….…
$537
10.5%
Properties Sold ……………………….
30
Properties Sold ……………………….
37
23.3%
Properties Pending Sale ………………
27
Properties Pending Sale ………………
37
37.0%
Properties For Sale …………….……...
72
Properties For Sale …………….……...
72
0.0%
Days on Market (Pending Sale) ….…..
54
Days on Market (Pending Sale) ….…..
39
-27.9%
Percent Under Contract ………….……
37.50%
Percent Under Contract ………….……
51.39%
37.0%
BEVERLY HILLS
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$3,830,000
Median Price ……………………..…….
$5,150,000
34.5%
Average Price per Square Foot ….…
$1,156
Average Price per Square Foot ….…
$1,461
26.4%
Properties Sold ……………………….
40
Properties Sold ……………………….
39
-2.5%
Properties Pending Sale ………………
42
Properties Pending Sale ………………
27
-35.7%
Properties For Sale …………….……...
149
Properties For Sale …………….……...
136
-8.7%
Days on Market (Pending Sale) ….…..
73
Days on Market (Pending Sale) ….…..
89
22.9%
Percent Under Contract ………….……
28.19%
Percent Under Contract ………….……
19.85%
-29.6%
BEVERLY HILLS
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,115,000
Median Price ……………………..…….
$1,210,000
8.5%
Average Price per Square Foot ….…
$758
Average Price per Square Foot ….…
$737
-2.8%
Properties Sold ……………………….
29
Properties Sold ……………………….
32
10.3%
Properties Pending Sale ………………
26
Properties Pending Sale ………………
30
15.4%
Properties For Sale …………….……...
99
Properties For Sale …………….……...
84
-15.2%
Days on Market (Pending Sale) ….…..
68
Days on Market (Pending Sale) ….…..
55
-19.1%
Percent Under Contract ………….……
26.26%
Percent Under Contract ………….……
35.71%
36.0%
BEVERLY HILLS P.O.
SFR
Q3 2015
% CHANGE
Q3 2014
Median Price ……………………..…….
$2,681,500
Median Price ……………………..…….
$2,525,000
-5.8%
Average Price per Square Foot ….…
$857
Average Price per Square Foot ….…
$1,031
20.3%
Properties Sold ……………………….
36
Properties Sold ……………………….
43
19.4%
Properties Pending Sale ………………
34
Properties Pending Sale ………………
46
35.3%
Properties For Sale …………….……...
207
Properties For Sale …………….……...
217
4.8%
Days on Market (Pending Sale) ….…..
89
Days on Market (Pending Sale) ….…..
78
-12.8%
Percent Under Contract ………….……
16.43%
Percent Under Contract ………….……
21.20%
29.1%
BEVERLYWOOD
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$982,500
Median Price ……………………..…….
$1,182,500
20.4%
Average Price per Square Foot ….…
$576
Average Price per Square Foot ….…
$699
21.4%
Properties Sold ……………………….
60
Properties Sold ……………………….
60
0.0%
Properties Pending Sale ………………
60
Properties Pending Sale ………………
55
-8.3%
Properties For Sale …………….……...
129
Properties For Sale …………….……...
114
-11.6%
Days on Market (Pending Sale) ….…..
62
Days on Market (Pending Sale) ….…..
30
-51.4%
Percent Under Contract ………….……
46.51%
Percent Under Contract ………….……
48.25%
3.7%
BRENTWOOD
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$2,525,000
Median Price ……………………..…….
$2,750,000
8.9%
Average Price per Square Foot ….…
$958
Average Price per Square Foot ….…
$920
-4.0%
Properties Sold ……………………….
64
Properties Sold ……………………….
55
-14.1%
Properties Pending Sale ………………
60
Properties Pending Sale ………………
56
-6.7%
Properties For Sale …………….……...
188
Properties For Sale …………….……...
219
16.5%
Days on Market (Pending Sale) ….…..
70
Days on Market (Pending Sale) ….…..
61
-12.9%
Percent Under Contract ………….……
31.91%
Percent Under Contract ………….……
25.57%
-19.9%
BRENTWOOD
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$760,000
Median Price ……………………..…….
$700,000
-7.9%
Average Price per Square Foot ….…
$542
Average Price per Square Foot ….…
$554
2.2%
Properties Sold ……………………….
67
Properties Sold ……………………….
57
-14.9%
Properties Pending Sale ………………
67
Properties Pending Sale ………………
60
-10.4%
Properties For Sale …………….……...
156
Properties For Sale …………….……...
139
-10.9%
Days on Market (Pending Sale) ….…..
43
Days on Market (Pending Sale) ….…..
48
10.7%
Percent Under Contract ………….……
42.95%
Percent Under Contract ………….……
43.17%
0.5%
BURBANK
SFR
Q3 2014
Q3 2015
% CHANGE
Median Price ……………………..…….
$655,000
Median Price ……………………..…….
$700,000
6.9%
Average Price per Square Foot ….…
$423
Average Price per Square Foot ….…
$466
10.2%
Properties Sold ……………………….
164
Properties Sold ……………………….
169
3.0%
Properties Pending Sale ………………
130
Properties Pending Sale ………………
167
28.5%
Properties For Sale …………….……...
298
Properties For Sale …………….……...
320
7.4%
Days on Market (Pending Sale) ….…..
51
Days on Market (Pending Sale) ….…..
48
-6.0%
Percent Under Contract ………….……
43.62%
Percent Under Contract ………….……
52.19%
19.6%
BURBANK
CONDO
Q3 2014
Q3 2015
% CHANGE
Median Price ……………………..…….
$405,000
Median Price ……………………..…….
$400,000
-1.2%
Average Price per Square Foot ….…
$345
Average Price per Square Foot ….…
$368
6.7%
Properties Sold ……………………….
31
Properties Sold ……………………….
35
12.9%
Properties Pending Sale ………………
34
Properties Pending Sale ………………
39
14.7%
Properties For Sale …………….……...
84
Properties For Sale …………….……...
80
-4.8%
Days on Market (Pending Sale) ….…..
57
Days on Market (Pending Sale) ….…..
42
-26.0%
Percent Under Contract ………….……
40.48%
Percent Under Contract ………….……
48.75%
20.4%
CALABASAS
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,313,250
Median Price ……………………..…….
$1,206,250
-8.1%
Average Price per Square Foot ….…
$384
Average Price per Square Foot ….…
$447
16.4%
Properties Sold ……………………….
66
Properties Sold ……………………….
80
21.2%
Properties Pending Sale ………………
60
Properties Pending Sale ………………
83
38.3%
Properties For Sale …………….……...
222
Properties For Sale …………….……...
285
28.4%
Days on Market (Pending Sale) ….…..
83
Days on Market (Pending Sale) ….…..
78
-6.1%
Percent Under Contract ………….……
27.03%
Percent Under Contract ………….……
29.12%
7.8%
CALABASAS
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$410,000
Median Price ……………………..…….
$388,000
-5.4%
Average Price per Square Foot ….…
$332
Average Price per Square Foot ….…
$354
6.6%
Properties Sold ……………………….
9
Properties Sold ……………………….
14
55.6%
Properties Pending Sale ………………
10
Properties Pending Sale ………………
12
20.0%
Properties For Sale …………….……...
22
Properties For Sale …………….……...
23
4.5%
Days on Market (Pending Sale) ….…..
71
Days on Market (Pending Sale) ….…..
46
-36.0%
Percent Under Contract ………….……
45.45%
Percent Under Contract ………….……
52.17%
14.8%
CHEVIOT HILLS-RANCH PARK
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,395,500
Median Price ……………………..…….
$1,850,000
32.6%
Average Price per Square Foot ….…
$722
Average Price per Square Foot ….…
$781
8.2%
Properties Sold ……………………….
20
Properties Sold ……………………….
25
25.0%
Properties Pending Sale ………………
22
Properties Pending Sale ………………
21
-4.5%
Properties For Sale …………….……...
46
Properties For Sale …………….……...
45
-2.2%
Days on Market (Pending Sale) ….…..
36
Days on Market (Pending Sale) ….…..
35
3.2%
Percent Under Contract ………….……
47.83%
Percent Under Contract ………….……
46.67%
-2.4%
CULVER CITY
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$834,700
Median Price ……………………..…….
$1,017,500
21.9%
Average Price per Square Foot ….…
$595
Average Price per Square Foot ….…
$654
9.9%
Properties Sold ……………………….
52
Properties Sold ……………………….
74
42.3%
Properties Pending Sale ………………
58
Properties Pending Sale ………………
68
17.2%
Properties For Sale …………….……...
108
Properties For Sale …………….……...
146
35.2%
Days on Market (Pending Sale) ….…..
41
Days on Market (Pending Sale) ….…..
37
-9.5%
Percent Under Contract ………….……
53.70%
Percent Under Contract ………….……
46.58%
-13.3%
CULVER CITY
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$409,000
Median Price ……………………..…….
$432,750
5.8%
Average Price per Square Foot ….…
$386
Average Price per Square Foot ….…
$433
12.2%
Properties Sold ……………………….
61
Properties Sold ……………………….
54
-11.5%
Properties Pending Sale ………………
54
Properties Pending Sale ………………
53
-1.9%
Properties For Sale …………….……...
111
Properties For Sale …………….……...
80
-27.9%
Days on Market (Pending Sale) ….…..
56
Days on Market (Pending Sale) ….…..
28
-50.5%
Percent Under Contract ………….……
48.65%
Percent Under Contract ………….……
66.25%
36.2%
DOWNTOWN
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$260,847
Median Price ……………………..…….
$298,000
14.2%
Average Price per Square Foot ….…
$242
Average Price per Square Foot ….…
$322
33.1%
Properties Sold ……………………….
20
Properties Sold ……………………….
31
55.0%
Properties Pending Sale ………………
24
Properties Pending Sale ………………
28
16.7%
Properties For Sale …………….……...
82
Properties For Sale …………….……...
94
14.6%
Days on Market (Pending Sale) ….…..
47
Days on Market (Pending Sale) ….…..
40
-13.4%
Percent Under Contract ………….……
29.27%
Percent Under Contract ………….……
29.79%
1.8%
DOWNTOWN
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$565,000
Median Price ……………………..…….
$545,000
-3.5%
Average Price per Square Foot ….…
$545
Average Price per Square Foot ….…
$598
9.7%
Properties Sold ……………………….
121
Properties Sold ……………………….
112
-7.4%
Properties Pending Sale ………………
108
Properties Pending Sale ………………
131
21.3%
Properties For Sale …………….……...
303
Properties For Sale …………….……...
315
4.0%
Days on Market (Pending Sale) ….…..
68
Days on Market (Pending Sale) ….…..
60
-11.4%
Percent Under Contract ………….……
35.64%
Percent Under Contract ………….……
41.59%
16.7%
ENCINO
SFR
Q3 2014
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,082,600
Median Price ……………………..…….
$1,250,000
15.5%
Average Price per Square Foot ….…
$464
Average Price per Square Foot ….…
$484
4.3%
Properties Sold ……………………….
107
Properties Sold ……………………….
134
25.2%
Properties Pending Sale ………………
102
Properties Pending Sale ………………
133
30.4%
Properties For Sale …………….……...
359
Properties For Sale …………….……...
375
4.5%
Days on Market (Pending Sale) ….…..
69
Days on Market (Pending Sale) ….…..
48
-30.8%
Percent Under Contract ………….……
28.41%
Percent Under Contract ………….……
35.47%
24.8%
ENCINO
CONDO
Q3 2014
Q3 2015
% CHANGE
Median Price ……………………..…….
$303,000
Median Price ……………………..…….
$285,000
-5.9%
Average Price per Square Foot ….…
$267
Average Price per Square Foot ….…
$276
3.9%
Properties Sold ……………………….
23
Properties Sold ……………………….
53
130.4%
Properties Pending Sale ………………
25
Properties Pending Sale ………………
55
120.0%
Properties For Sale …………….……...
96
Properties For Sale …………….……...
118
22.9%
Days on Market (Pending Sale) ….…..
76
Days on Market (Pending Sale) ….…..
50
-34.3%
Percent Under Contract ………….……
26.04%
Percent Under Contract ………….……
46.61%
79.0%
HANCOCK PARK-WILSHIRE
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,255,000
Median Price ……………………..…….
$1,502,500
19.7%
Average Price per Square Foot ….…
$616
Average Price per Square Foot ….…
$651
5.7%
Properties Sold ……………………….
80
Properties Sold ……………………….
60
-25.0%
Properties Pending Sale ………………
72
Properties Pending Sale ………………
57
-20.8%
Properties For Sale …………….……...
224
Properties For Sale …………….……...
213
-4.9%
Days on Market (Pending Sale) ….…..
61
Days on Market (Pending Sale) ….…..
41
-32.5%
Percent Under Contract ………….……
32.14%
Percent Under Contract ………….……
26.76%
-16.7%
HOLLYWOOD
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$650,000
Median Price ……………………..…….
$781,445
20.2%
Average Price per Square Foot ….…
$487
Average Price per Square Foot ….…
$526
8.0%
Properties Sold ……………………….
25
Properties Sold ……………………….
28
12.0%
Properties Pending Sale ………………
30
Properties Pending Sale ………………
22
-26.7%
Properties For Sale …………….……...
84
Properties For Sale …………….……...
71
-15.5%
Days on Market (Pending Sale) ….…..
71
Days on Market (Pending Sale) ….…..
45
-36.5%
Percent Under Contract ………….……
35.71%
Percent Under Contract ………….……
30.99%
-13.2%
HOLLYWOOD
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$600,000
Median Price ……………………..…….
$699,800
16.6%
Average Price per Square Foot ….…
$554
Average Price per Square Foot ….…
$627
13.2%
Properties Sold ……………………….
27
Properties Sold ……………………….
27
0.0%
Properties Pending Sale ………………
22
Properties Pending Sale ………………
24
9.1%
Properties For Sale …………….……...
64
Properties For Sale …………….……...
64
0.0%
Days on Market (Pending Sale) ….…..
95
Days on Market (Pending Sale) ….…..
69
-27.1%
Percent Under Contract ………….……
34.38%
Percent Under Contract ………….……
37.50%
9.1%
HOLLYWOOD HILLS EAST
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,134,000
Median Price ……………………..…….
$1,228,000
8.3%
Average Price per Square Foot ….…
$507
Average Price per Square Foot ….…
$592
16.8%
Properties Sold ……………………….
40
Properties Sold ……………………….
43
7.5%
Properties Pending Sale ………………
34
Properties Pending Sale ………………
42
23.5%
Properties For Sale …………….……...
138
Properties For Sale …………….……...
122
-11.6%
Days on Market (Pending Sale) ….…..
76
Days on Market (Pending Sale) ….…..
47
-37.8%
Percent Under Contract ………….……
24.64%
Percent Under Contract ………….……
34.43%
39.7%
LOS FELIZ
SFR
Q3 2014
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,145,000
Median Price ……………………..…….
$1,391,500
21.5%
Average Price per Square Foot ….…
$605
Average Price per Square Foot ….…
$663
9.6%
Properties Sold ……………………….
70
Properties Sold ……………………….
68
-2.9%
Properties Pending Sale ………………
63
Properties Pending Sale ………………
59
-6.3%
Properties For Sale …………….……...
174
Properties For Sale …………….……...
165
-5.2%
Days on Market (Pending Sale) ….…..
56
Days on Market (Pending Sale) ….…..
62
9.2%
Percent Under Contract ………….……
36.21%
Percent Under Contract ………….……
35.76%
-1.2%
LOS FELIZ
CONDO
Q3 2014
Q3 2015
% CHANGE
Median Price ……………………..…….
$495,000
Median Price ……………………..…….
$439,000
-11.3%
Average Price per Square Foot ….…
$464
Average Price per Square Foot ….…
$498
7.3%
Properties Sold ……………………….
7
Properties Sold ……………………….
7
0.0%
Properties Pending Sale ………………
7
Properties Pending Sale ………………
11
57.1%
Properties For Sale …………….……...
20
Properties For Sale …………….……...
21
5.0%
Days on Market (Pending Sale) ….…..
32
Days on Market (Pending Sale) ….…..
33
0.8%
Percent Under Contract ………….……
35.00%
Percent Under Contract ………….……
52.38%
49.7%
MALIBU
SFR
Q3 2014
Q3 2015
% CHANGE
Median Price ……………………..…….
$2,362,500
Median Price ……………………..…….
$2,525,000
6.9%
Average Price per Square Foot ….…
$970
Average Price per Square Foot ….…
$848
-12.6%
Properties Sold ……………………….
50
Properties Sold ……………………….
39
-22.0%
Properties Pending Sale ………………
48
Properties Pending Sale ………………
53
10.4%
Properties For Sale …………….……...
329
Properties For Sale …………….……...
320
-2.7%
Days on Market (Pending Sale) ….…..
146
Days on Market (Pending Sale) ….…..
110
-24.8%
Percent Under Contract ………….……
14.59%
Percent Under Contract ………….……
16.56%
13.5%
MALIBU BEACH
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$7,200,000
Median Price ……………………..…….
$7,525,000
4.5%
Average Price per Square Foot ….…
$2,505
Average Price per Square Foot ….…
$2,374
-5.2%
Properties Sold ……………………….
15
Properties Sold ……………………….
13
-13.3%
Properties Pending Sale ………………
13
Properties Pending Sale ………………
17
30.8%
Properties For Sale …………….……...
104
Properties For Sale …………….……...
107
2.9%
Days on Market (Pending Sale) ….…..
132
Days on Market (Pending Sale) ….…..
124
-6.1%
Percent Under Contract ………….……
12.50%
Percent Under Contract ………….……
15.89%
27.1%
MARINA DEL REY
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,557,500
Median Price ……………………..…….
$1,425,500
-8.5%
Average Price per Square Foot ….…
$614
Average Price per Square Foot ….…
$800
30.3%
Properties Sold ……………………….
8
Properties Sold ……………………….
14
75.0%
Properties Pending Sale ………………
10
Properties Pending Sale ………………
15
50.0%
Properties For Sale …………….……...
41
Properties For Sale …………….……...
43
4.9%
Days on Market (Pending Sale) ….…..
55
Days on Market (Pending Sale) ….…..
40
-26.8%
Percent Under Contract ………….……
24.39%
Percent Under Contract ………….……
34.88%
43.0%
MARINA DEL REY
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$760,000
Median Price ……………………..…….
$870,000
14.5%
Average Price per Square Foot ….…
$598
Average Price per Square Foot ….…
$644
7.7%
Properties Sold ……………………….
73
Properties Sold ……………………….
60
-17.8%
Properties Pending Sale ………………
74
Properties Pending Sale ………………
62
-16.2%
Properties For Sale …………….……...
185
Properties For Sale …………….……...
153
-17.3%
Days on Market (Pending Sale) ….…..
92
Days on Market (Pending Sale) ….…..
70
-23.9%
Percent Under Contract ………….……
40.00%
Percent Under Contract ………….……
40.52%
1.3%
MID LOS ANGELES
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$452,950
Median Price ……………………..…….
$557,500
23.1%
Average Price per Square Foot ….…
$310
Average Price per Square Foot ….…
$345
11.3%
Properties Sold ……………………….
102
Properties Sold ……………………….
122
19.6%
Properties Pending Sale ………………
101
Properties Pending Sale ………………
114
12.9%
Properties For Sale …………….……...
275
Properties For Sale …………….……...
251
-8.7%
Days on Market (Pending Sale) ….…..
49
Days on Market (Pending Sale) ….…..
44
-11.0%
Percent Under Contract ………….……
36.73%
Percent Under Contract ………….……
45.42%
23.7%
MID WILSHIRE
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$655,500
Median Price ……………………..…….
$885,000
35.0%
Average Price per Square Foot ….…
$323
Average Price per Square Foot ….…
$373
15.5%
Properties Sold ……………………….
16
Properties Sold ……………………….
15
-6.2%
Properties Pending Sale ………………
11
Properties Pending Sale ………………
12
9.1%
Properties For Sale …………….……...
47
Properties For Sale …………….……...
43
-8.5%
Days on Market (Pending Sale) ….…..
63
Days on Market (Pending Sale) ….…..
54
-14.2%
Percent Under Contract ………….……
23.40%
Percent Under Contract ………….……
27.91%
19.2%
PACIFIC PALISADES
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$2,540,000
Median Price ……………………..…….
$2,923,000
15.1%
Average Price per Square Foot ….…
$951
Average Price per Square Foot ….…
$995
4.6%
Properties Sold ……………………….
94
Properties Sold ……………………….
72
-23.4%
Properties Pending Sale ………………
68
Properties Pending Sale ………………
64
-5.9%
Properties For Sale …………….……...
195
Properties For Sale …………….……...
212
8.7%
Days on Market (Pending Sale) ….…..
60
Days on Market (Pending Sale) ….…..
51
-14.4%
Percent Under Contract ………….……
34.87%
Percent Under Contract ………….……
30.19%
-13.4%
PALMS – MAR VISTA
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$950,000
Median Price ……………………..…….
$1,225,000
28.9%
Average Price per Square Foot ….…
$659
Average Price per Square Foot ….…
$709
7.6%
Properties Sold ……………………….
95
Properties Sold ……………………….
105
10.5%
Properties Pending Sale ………………
91
Properties Pending Sale ………………
89
-2.2%
Properties For Sale …………….……...
199
Properties For Sale …………….……...
164
-17.6%
Days on Market (Pending Sale) ….…..
45
Days on Market (Pending Sale) ….…..
33
-26.6%
Percent Under Contract ………….……
45.73%
Percent Under Contract ………….……
54.27%
18.7%
SANTA MONICA
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,877,500
Median Price ……………………..…….
$1,950,000
3.9%
Average Price per Square Foot ….…
$935
Average Price per Square Foot ….…
$1,130
20.9%
Properties Sold ……………………….
78
Properties Sold ……………………….
67
-14.1%
Properties Pending Sale ………………
74
Properties Pending Sale ………………
42
-43.2%
Properties For Sale …………….……...
160
Properties For Sale …………….……...
148
-7.5%
Days on Market (Pending Sale) ….…..
51
Days on Market (Pending Sale) ….…..
37
-27.5%
Percent Under Contract ………….……
46.25%
Percent Under Contract ………….……
28.38%
-38.6%
SANTA MONICA
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$985,000
Median Price ……………………..…….
$955,000
-3.0%
Average Price per Square Foot ….…
$1,036
Average Price per Square Foot ….…
$905
-12.6%
Properties Sold ……………………….
97
Properties Sold ……………………….
104
7.2%
Properties Pending Sale ………………
102
Properties Pending Sale ………………
95
-6.9%
Properties For Sale …………….……...
233
Properties For Sale …………….……...
198
-15.0%
Days on Market (Pending Sale) ….…..
53
Days on Market (Pending Sale) ….…..
54
2.1%
Percent Under Contract ………….……
43.78%
Percent Under Contract ………….……
47.98%
9.6%
SHERMAN OAKS
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$882,000
Median Price ……………………..…….
$925,000
4.9%
Average Price per Square Foot ….…
$461
Average Price per Square Foot ….…
$477
3.5%
Properties Sold ……………………….
173
Properties Sold ……………………….
187
8.1%
Properties Pending Sale ………………
178
Properties Pending Sale ………………
189
6.2%
Properties For Sale …………….……...
481
Properties For Sale …………….……...
434
-9.8%
Days on Market (Pending Sale) ….…..
57
Days on Market (Pending Sale) ….…..
49
-15.1%
Percent Under Contract ………….……
37.01%
Percent Under Contract ………….……
43.55%
17.7%
SHERMAN OAKS
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$390,000
Median Price ……………………..…….
$430,000
10.3%
Average Price per Square Foot ….…
$306
Average Price per Square Foot ….…
$336
9.8%
Properties Sold ……………………….
56
Properties Sold ……………………….
83
48.2%
Properties Pending Sale ………………
61
Properties Pending Sale ………………
69
13.1%
Properties For Sale …………….……...
162
Properties For Sale …………….……...
128
-21.0%
Days on Market (Pending Sale) ….…..
64
Days on Market (Pending Sale) ….…..
43
-33.7%
Percent Under Contract ………….……
37.65%
Percent Under Contract ………….……
53.91%
43.2%
SILVER LAKE – ECHO PARK
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$775,000
Median Price ……………………..…….
$786,500
1.5%
Average Price per Square Foot ….…
$562
Average Price per Square Foot ….…
$585
4.1%
Properties Sold ……………………….
73
Properties Sold ……………………….
86
17.8%
Properties Pending Sale ………………
91
Properties Pending Sale ………………
103
13.2%
Properties For Sale …………….……...
210
Properties For Sale …………….……...
238
13.3%
Days on Market (Pending Sale) ….…..
45
Days on Market (Pending Sale) ….…..
29
-35.2%
Percent Under Contract ………….……
43.33%
Percent Under Contract ………….……
43.28%
-0.1%
STUDIO CITY
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,200,000
Median Price ……………………..…….
$1,385,000
15.4%
Average Price per Square Foot ….…
$553
Average Price per Square Foot ….…
$584
5.6%
Properties Sold ……………………….
85
Properties Sold ……………………….
106
24.7%
Properties Pending Sale ………………
85
Properties Pending Sale ………………
106
24.7%
Properties For Sale …………….……...
253
Properties For Sale …………….……...
289
14.2%
Days on Market (Pending Sale) ….…..
71
Days on Market (Pending Sale) ….…..
50
-29.3%
Percent Under Contract ………….……
33.60%
Percent Under Contract ………….……
36.68%
9.2%
STUDIO CITY
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$510,000
Median Price ……………………..…….
$530,000
3.9%
Average Price per Square Foot ….…
$387
Average Price per Square Foot ….…
$406
4.9%
Properties Sold ……………………….
33
Properties Sold ……………………….
47
42.4%
Properties Pending Sale ………………
26
Properties Pending Sale ………………
47
80.8%
Properties For Sale …………….……...
94
Properties For Sale …………….……...
98
4.3%
Days on Market (Pending Sale) ….…..
81
Days on Market (Pending Sale) ….…..
56
-31.5%
Percent Under Contract ………….……
27.66%
Percent Under Contract ………….……
47.96%
73.4%
SUNSET STRIP – HOLLYWOOD HILLS WEST
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,850,000
Median Price ……………………..…….
$1,580,000
-14.6%
Average Price per Square Foot ….…
$831
Average Price per Square Foot ….…
$778
-6.4%
Properties Sold ……………………….
119
Properties Sold ……………………….
119
0.0%
Properties Pending Sale ………………
97
Properties Pending Sale ………………
118
21.6%
Properties For Sale …………….……...
470
Properties For Sale …………….……...
511
8.7%
Days on Market (Pending Sale) ….…..
80
Days on Market (Pending Sale) ….…..
56
-29.9%
Percent Under Contract ………….……
20.64%
Percent Under Contract ………….……
23.09%
11.9%
SUNSET STRIP – HOLLYWOOD HILLS WEST
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$445,000
Median Price ……………………..…….
$525,000
18.0%
Average Price per Square Foot ….…
$509
Average Price per Square Foot ….…
$526
3.3%
Properties Sold ……………………….
25
Properties Sold ……………………….
29
16.0%
Properties Pending Sale ………………
27
Properties Pending Sale ………………
25
-7.4%
Properties For Sale …………….……...
65
Properties For Sale …………….……...
68
4.6%
Days on Market (Pending Sale) ….…..
66
Days on Market (Pending Sale) ….…..
34
-48.2%
Percent Under Contract ………….……
41.54%
Percent Under Contract ………….……
36.76%
-11.5%
TOPANGA
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,056,500
Median Price ……………………..…….
$899,500
-14.9%
Average Price per Square Foot ….…
$544
Average Price per Square Foot ….…
$506
-7.0%
Properties Sold ……………………….
24
Properties Sold ……………………….
26
8.3%
Properties Pending Sale ………………
22
Properties Pending Sale ………………
21
-4.5%
Properties For Sale …………….……...
95
Properties For Sale …………….……...
99
4.2%
Days on Market (Pending Sale) ….…..
84
Days on Market (Pending Sale) ….…..
101
19.9%
Percent Under Contract ………….……
23.16%
Percent Under Contract ………….……
21.21%
-8.4%
VENICE
SFR
Q3 2014
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,630,830
Median Price ……………………..…….
$1,760,000
7.9%
Average Price per Square Foot ….…
$1,046
Average Price per Square Foot ….…
$1,013
-3.2%
Properties Sold ……………………….
48
Properties Sold ……………………….
45
-6.2%
Properties Pending Sale ………………
44
Properties Pending Sale ………………
53
20.5%
Properties For Sale …………….……...
113
Properties For Sale …………….……...
140
23.9%
Days on Market (Pending Sale) ….…..
69
Days on Market (Pending Sale) ….…..
46
-32.6%
Percent Under Contract ………….……
38.94%
Percent Under Contract ………….……
37.86%
-2.8%
VENICE
CONDO
Q3 2014
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,172,500
Median Price ……………………..…….
$1,348,000
15.0%
Average Price per Square Foot ….…
$715
Average Price per Square Foot ….…
$629
-12.0%
Properties Sold ……………………….
10
Properties Sold ……………………….
4
-60.0%
Properties Pending Sale ………………
10
Properties Pending Sale ………………
9
-10.0%
Properties For Sale …………….……...
33
Properties For Sale …………….……...
37
12.1%
Days on Market (Pending Sale) ….…..
65
Days on Market (Pending Sale) ….…..
36
-44.9%
Percent Under Contract ………….……
30.30%
Percent Under Contract ………….……
24.32%
-19.7%
WEST HOLLYWOOD
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$1,190,000
Median Price ……………………..…….
$1,330,000
11.8%
Average Price per Square Foot ….…
$803
Average Price per Square Foot ….…
$882
9.8%
Properties Sold ……………………….
33
Properties Sold ……………………….
30
-9.1%
Properties Pending Sale ………………
33
Properties Pending Sale ………………
32
-3.0%
Properties For Sale …………….……...
102
Properties For Sale …………….……...
97
-4.9%
Days on Market (Pending Sale) ….…..
47
Days on Market (Pending Sale) ….…..
51
8.5%
Percent Under Contract ………….……
32.35%
Percent Under Contract ………….……
32.99%
2.0%
WEST HOLLYWOOD
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$599,000
Median Price ……………………..…….
$590,000
-1.5%
Average Price per Square Foot ….…
$524
Average Price per Square Foot ….…
$621
18.5%
Properties Sold ……………………….
86
Properties Sold ……………………….
91
5.8%
Properties Pending Sale ………………
76
Properties Pending Sale ………………
96
26.3%
Properties For Sale …………….……...
240
Properties For Sale …………….……...
215
-10.4%
Days on Market (Pending Sale) ….…..
61
Days on Market (Pending Sale) ….…..
49
-20.0%
Percent Under Contract ………….……
31.67%
Percent Under Contract ………….……
44.65%
41.0%
WEST LOS ANGELES
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$859,500
Median Price ……………………..…….
$991,000
15.3%
Average Price per Square Foot ….…
$635
Average Price per Square Foot ….…
$646
1.7%
Properties Sold ……………………….
32
Properties Sold ……………………….
29
-9.4%
Properties Pending Sale ………………
38
Properties Pending Sale ………………
31
-18.4%
Properties For Sale …………….……...
87
Properties For Sale …………….……...
64
-26.4%
Days on Market (Pending Sale) ….…..
49
Days on Market (Pending Sale) ….…..
47
-3.1%
Percent Under Contract ………….……
43.68%
Percent Under Contract ………….……
48.44%
10.9%
WEST LOS ANGELES
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$575,000
Median Price ……………………..…….
$760,000
32.2%
Average Price per Square Foot ….…
$476
Average Price per Square Foot ….…
$506
6.3%
Properties Sold ……………………….
41
Properties Sold ……………………….
29
-29.3%
Properties Pending Sale ………………
39
Properties Pending Sale ………………
35
-10.3%
Properties For Sale …………….……...
98
Properties For Sale …………….……...
71
-27.6%
Days on Market (Pending Sale) ….…..
63
Days on Market (Pending Sale) ….…..
38
-40.3%
Percent Under Contract ………….……
39.80%
Percent Under Contract ………….……
49.30%
23.9%
WESTCHESTER
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$814,500
Median Price ……………………..…….
$912,000
12.0%
Average Price per Square Foot ….…
$514
Average Price per Square Foot ….…
$597
16.1%
Properties Sold ……………………….
104
Properties Sold ……………………….
77
-26.0%
Properties Pending Sale ………………
87
Properties Pending Sale ………………
74
-14.9%
Properties For Sale …………….……...
161
Properties For Sale …………….……...
127
-21.1%
Days on Market (Pending Sale) ….…..
48
Days on Market (Pending Sale) ….…..
27
-42.7%
Percent Under Contract ………….……
54.04%
Percent Under Contract ………….……
58.27%
7.8%
WESTCHESTER
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$312,500
Median Price ……………………..…….
$382,000
22.2%
Average Price per Square Foot ….…
$323
Average Price per Square Foot ….…
$356
10.2%
Properties Sold ……………………….
5
Properties Sold ……………………….
9
80.0%
Properties Pending Sale ………………
6
Properties Pending Sale ………………
9
50.0%
Properties For Sale …………….……...
19
Properties For Sale …………….……...
14
-26.3%
Days on Market (Pending Sale) ….…..
127
Days on Market (Pending Sale) ….…..
32
-74.7%
Percent Under Contract ………….……
31.58%
Percent Under Contract ………….……
64.29%
103.6%
WESTWOOD – CENTURY CITY
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$2,050,000
Median Price ……………………..…….
$1,650,000
-19.5%
Average Price per Square Foot ….…
$775
Average Price per Square Foot ….…
$818
5.5%
Properties Sold ……………………….
61
Properties Sold ……………………….
52
-14.8%
Properties Pending Sale ………………
52
Properties Pending Sale ………………
52
0.0%
Properties For Sale …………….……...
113
Properties For Sale …………….……...
129
14.2%
Days on Market (Pending Sale) ….…..
45
Days on Market (Pending Sale) ….…..
40
-11.9%
Percent Under Contract ………….……
46.02%
Percent Under Contract ………….……
40.31%
-12.4%
WESTWOOD – CENTURY CITY
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$770,000
Median Price ……………………..…….
$739,000
-4.0%
Average Price per Square Foot ….…
$683
Average Price per Square Foot ….…
$656
-4.0%
Properties Sold ……………………….
151
Properties Sold ……………………….
156
3.3%
Properties Pending Sale ………………
146
Properties Pending Sale ………………
147
0.7%
Properties For Sale …………….……...
486
Properties For Sale …………….……...
439
-9.7%
Days on Market (Pending Sale) ….…..
76
Days on Market (Pending Sale) ….…..
58
-24.1%
Percent Under Contract ………….……
30.04%
Percent Under Contract ………….……
33.49%
11.5%
WOODLAND HILLS
Q3 2014
SFR
Q3 2015
% CHANGE
Median Price ……………………..…….
$707,500
Median Price ……………………..…….
$711,000
0.5%
Average Price per Square Foot ….…
$332
Average Price per Square Foot ….…
$345
3.9%
Properties Sold ……………………….
163
Properties Sold ……………………….
223
36.8%
Properties Pending Sale ………………
170
Properties Pending Sale ………………
224
31.8%
Properties For Sale …………….……...
537
Properties For Sale …………….……...
526
-2.0%
Days on Market (Pending Sale) ….…..
65
Days on Market (Pending Sale) ….…..
52
-20.7%
Percent Under Contract ………….……
31.66%
Percent Under Contract ………….……
42.59%
34.5%
WOODLAND HILLS
Q3 2014
CONDO
Q3 2015
% CHANGE
Median Price ……………………..…….
$357,500
Median Price ……………………..…….
$341,500
-4.5%
Average Price per Square Foot ….…
$335
Average Price per Square Foot ….…
$370
10.4%
Properties Sold ……………………….
28
Properties Sold ……………………….
40
42.9%
Properties Pending Sale ………………
21
Properties Pending Sale ………………
47
123.8%
Properties For Sale …………….……...
62
Properties For Sale …………….……...
74
19.4%
Days on Market (Pending Sale) ….…..
58
Days on Market (Pending Sale) ….…..
43
-26.4%
Percent Under Contract ………….……
33.87%
Percent Under Contract ………….……
63.51%
87.5%
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.