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
SFR
Median Price ……………………..…….
$1,925,000
Median Price ……………………..…….
$2,021,500
5.0%
Average Price per Square Foot ….…
$962
Average Price per Square Foot ….…
$842
-12.5%
Properties Sold ……………………….
34
Properties Sold ……………………….
32
-5.9%
Properties Pending Sale ………………
46
Properties Pending Sale ………………
30
-34.8%
Properties For Sale …………….……...
193
Properties For Sale …………….……...
173
-10.4%
Days on Market (Pending Sale) ….…..
83
Days on Market (Pending Sale) ….…..
65
-21.8%
Percent Under Contract ………….……
23.83%
Percent Under Contract ………….……
17.34%
-27.2%
BEVERLY CENTER – MIRACLE MILE
SFR
Median Price ……………………..…….
$1,157,500
Median Price ……………………..…….
$1,320,500
14.1%
Average Price per Square Foot ….…
$610
Average Price per Square Foot ….…
$669
9.7%
Properties Sold ……………………….
62
Properties Sold ……………………….
50
-19.4%
Properties Pending Sale ………………
63
Properties Pending Sale ………………
54
-14.3%
Properties For Sale …………….……...
107
Properties For Sale …………….……...
117
9.3%
Days on Market (Pending Sale) ….…..
55
Days on Market (Pending Sale) ….…..
42
-23.1%
Percent Under Contract ………….……
58.88%
Percent Under Contract ………….……
46.15%
-21.6%
BEVERLY CENTER – MIRACLE MILE
CONDO
Median Price ……………………..…….
$705,750
Median Price ……………………..…….
$602,500
-14.6%
Average Price per Square Foot ….…
$465
Average Price per Square Foot ….…
$488
4.9%
Properties Sold ……………………….
24
Properties Sold ……………………….
28
16.7%
Properties Pending Sale ………………
29
Properties Pending Sale ………………
26
-10.3%
Properties For Sale …………….……...
70
Properties For Sale …………….……...
64
-8.6%
Days on Market (Pending Sale) ….…..
66
Days on Market (Pending Sale) ….…..
45
-31.5%
Percent Under Contract ………….……
41.43%
Percent Under Contract ………….……
40.62%
-1.9%
BEVERLY HILLS
SFR
Median Price ……………………..…….
$4,762,500
Median Price ……………………..…….
$3,785,000
-20.5%
Average Price per Square Foot ….…
$1,094
Average Price per Square Foot ….…
$1,169
6.9%
Properties Sold ……………………….
48
Properties Sold ……………………….
37
-22.9%
Properties Pending Sale ………………
41
Properties Pending Sale ………………
41
0.0%
Properties For Sale …………….……...
177
Properties For Sale …………….……...
143
-19.2%
Days on Market (Pending Sale) ….…..
69
Days on Market (Pending Sale) ….…..
72
5.2%
Percent Under Contract ………….……
23.16%
Percent Under Contract ………….……
28.67%
23.8%
BEVERLY HILLS
CONDO
Median Price ……………………..…….
$843,900
Median Price ……………………..…….
$1,127,500
33.6%
Average Price per Square Foot ….…
$735
Average Price per Square Foot ….…
$769
4.6%
Properties Sold ……………………….
23
Properties Sold ……………………….
28
21.7%
Properties Pending Sale ………………
23
Properties Pending Sale ………………
25
8.7%
Properties For Sale …………….……...
75
Properties For Sale …………….……...
85
13.3%
Days on Market (Pending Sale) ….…..
59
Days on Market (Pending Sale) ….…..
65
10.5%
Percent Under Contract ………….……
30.67%
Percent Under Contract ………….……
29.41%
-4.1%
BEVERLY HILLS P.O.
SFR
Median Price ……………………..…….
$2,125,000
Median Price ……………………..…….
$2,850,000
34.1%
Average Price per Square Foot ….…
$739
Average Price per Square Foot ….…
$867
17.3%
Properties Sold ……………………….
47
Properties Sold ……………………….
33
-29.8%
Properties Pending Sale ………………
47
Properties Pending Sale ………………
34
-27.7%
Properties For Sale …………….……...
214
Properties For Sale …………….……...
185
-13.6%
Days on Market (Pending Sale) ….…..
75
Days on Market (Pending Sale) ….…..
93
23.7%
Percent Under Contract ………….……
21.96%
Percent Under Contract ………….……
18.38%
-16.3%
BEVERLYWOOD
SFR
Median Price ……………………..…….
$955,000
Median Price ……………………..…….
$1,050,000
9.9%
Average Price per Square Foot ….…
$519
Average Price per Square Foot ….…
$604
16.4%
Properties Sold ……………………….
37
Properties Sold ……………………….
48
29.7%
Properties Pending Sale ………………
45
Properties Pending Sale ………………
58
28.9%
Properties For Sale …………….……...
97
Properties For Sale …………….……...
107
10.3%
Days on Market (Pending Sale) ….…..
51
Days on Market (Pending Sale) ….…..
49
-3.7%
Percent Under Contract ………….……
46.39%
Percent Under Contract ………….……
54.21%
16.8%
BRENTWOOD
SFR
Median Price ……………………..…….
$2,352,500
Median Price ……………………..…….
$2,785,000
18.4%
Average Price per Square Foot ….…
$840
Average Price per Square Foot ….…
$981
16.8%
Properties Sold ……………………….
64
Properties Sold ……………………….
59
-7.8%
Properties Pending Sale ………………
53
Properties Pending Sale ………………
59
11.3%
Properties For Sale …………….……...
173
Properties For Sale …………….……...
164
-5.2%
Days on Market (Pending Sale) ….…..
65
Days on Market (Pending Sale) ….…..
60
-7.4%
Percent Under Contract ………….……
30.64%
Percent Under Contract ………….……
35.98%
17.4%
BRENTWOOD
CONDO
Median Price ……………………..…….
$686,000
Median Price ……………………..…….
$790,000
15.2%
Average Price per Square Foot ….…
$509
Average Price per Square Foot ….…
$542
6.5%
Properties Sold ……………………….
58
Properties Sold ……………………….
63
8.6%
Properties Pending Sale ………………
49
Properties Pending Sale ………………
64
30.6%
Properties For Sale …………….……...
125
Properties For Sale …………….……...
160
28.0%
Days on Market (Pending Sale) ….…..
55
Days on Market (Pending Sale) ….…..
43
-21.8%
Percent Under Contract ………….……
39.20%
Percent Under Contract ………….……
40.00%
2.0%
BURBANK
SFR
Median Price ……………………..…….
$639,900
Median Price ……………………..…….
$650,000
1.6%
Average Price per Square Foot ….…
$404
Average Price per Square Foot ….…
$453
12.1%
Properties Sold ……………………….
7
Properties Sold ……………………….
18
157.1%
Properties Pending Sale ………………
16
Properties Pending Sale ………………
17
6.2%
Properties For Sale …………….……...
29
Properties For Sale …………….……...
33
13.8%
Days on Market (Pending Sale) ….…..
41
Days on Market (Pending Sale) ….…..
54
31.4%
Percent Under Contract ………….……
55.17%
Percent Under Contract ………….……
51.52%
-6.6%
BURBANK
CONDO
Median Price ……………………..…….
$428,000
Median Price ……………………..…….
$442,500
3.4%
Average Price per Square Foot ….…
$317
Average Price per Square Foot ….…
$352
11.0%
Properties Sold ……………………….
5
Properties Sold ……………………….
10
100.0%
Properties Pending Sale ………………
9
Properties Pending Sale ………………
10
11.1%
Properties For Sale …………….……...
16
Properties For Sale …………….……...
16
0.0%
Days on Market (Pending Sale) ….…..
44
Days on Market (Pending Sale) ….…..
61
37.4%
Percent Under Contract ………….……
56.25%
Percent Under Contract ………….……
62.50%
11.1%
CALABASAS
SFR
Median Price ……………………..…….
$975,000
Median Price ……………………..…….
$1,200,000
23.1%
Average Price per Square Foot ….…
$364
Average Price per Square Foot ….…
$400
9.9%
Properties Sold ……………………….
9
Properties Sold ……………………….
9
0.0%
Properties Pending Sale ………………
10
Properties Pending Sale ………………
5
-50.0%
Properties For Sale …………….……...
31
Properties For Sale …………….……...
20
-35.5%
Days on Market (Pending Sale) ….…..
86
Days on Market (Pending Sale) ….…..
125
45.6%
Percent Under Contract ………….……
32.26%
Percent Under Contract ………….……
25.00%
-22.5%
CALABASAS
CONDO
Median Price ……………………..…….
$455,000
Median Price ……………………..…….
$458,000
0.7%
Average Price per Square Foot ….…
$302
Average Price per Square Foot ….…
$298
-1.3%
Properties Sold ……………………….
2
Properties Sold ……………………….
3
50.0%
Properties Pending Sale ………………
3
Properties Pending Sale ………………
4
33.3%
Properties For Sale …………….……...
4
Properties For Sale …………….……...
9
125.0%
Days on Market (Pending Sale) ….…..
26
Days on Market (Pending Sale) ….…..
58
124.0%
Percent Under Contract ………….……
75.00%
Percent Under Contract ………….……
44.44%
-40.7%
CHEVIOT HILLS-RANCH PARK
SFR
Median Price ……………………..…….
$1,350,000
Median Price ……………………..…….
$1,396,000
3.4%
Average Price per Square Foot ….…
$637
Average Price per Square Foot ….…
$722
13.3%
Properties Sold ……………………….
25
Properties Sold ……………………….
19
-24.0%
Properties Pending Sale ………………
26
Properties Pending Sale ………………
20
-23.1%
Properties For Sale …………….……...
38
Properties For Sale …………….……...
42
10.5%
Days on Market (Pending Sale) ….…..
48
Days on Market (Pending Sale) ….…..
28
-42.5%
Percent Under Contract ………….……
68.42%
Percent Under Contract ………….……
47.62%
-30.4%
CULVER CITY
SFR
Median Price ……………………..…….
$810,000
Median Price ……………………..…….
$827,550
2.2%
Average Price per Square Foot ….…
$514
Average Price per Square Foot ….…
$587
14.2%
Properties Sold ……………………….
65
Properties Sold ……………………….
48
-26.2%
Properties Pending Sale ………………
53
Properties Pending Sale ………………
55
3.8%
Properties For Sale …………….……...
97
Properties For Sale …………….……...
88
-9.3%
Days on Market (Pending Sale) ….…..
43
Days on Market (Pending Sale) ….…..
42
-2.3%
Percent Under Contract ………….……
54.64%
Percent Under Contract ………….……
62.50%
14.4%
CULVER CITY
CONDO
Median Price ……………………..…….
$404,500
Median Price ……………………..…….
$425,000
5.1%
Average Price per Square Foot ….…
$64
Average Price per Square Foot ….…
$91
-15.6%
Properties Sold ……………………….
44
Properties Sold ……………………….
50
13.6%
Properties Pending Sale ………………
79
Properties Pending Sale ………………
54
15.2%
Properties For Sale …………….……...
Properties For Sale …………….……...
%
Days on Market (Pending Sale) ….…..
37
Days on Market (Pending Sale) ….…..
51
39.1%
Percent Under Contract ………….……
55.70%
Percent Under Contract ………….……
54.95%
-1.3%
DOWNTOWN
SFR
Median Price ……………………..…….
$225,000
Median Price ……………………..…….
$287,500
27.8%
Average Price per Square Foot ….…
$158
Average Price per Square Foot ….…
$260
64.6%
Properties Sold ……………………….
11
Properties Sold ……………………….
6
-45.5%
Properties Pending Sale ………………
15
Properties Pending Sale ………………
12
-20.0%
Properties For Sale …………….……...
47
Properties For Sale …………….……...
38
-19.1%
Days on Market (Pending Sale) ….…..
50
Days on Market (Pending Sale) ….…..
39
-22.1%
Percent Under Contract ………….……
31.91%
Percent Under Contract ………….……
31.58%
-1.1%
DOWNTOWN
CONDO
Median Price ……………………..…….
$511,250
Median Price ……………………..…….
$569,000
11.3%
Average Price per Square Foot ….…
$521
Average Price per Square Foot ….…
$541
3.8%
Properties Sold ……………………….
76
Properties Sold ……………………….
93
22.4%
Properties Pending Sale ………………
71
Properties Pending Sale ………………
82
15.5%
Properties For Sale …………….……...
263
Properties For Sale …………….……...
219
-16.7%
Days on Market (Pending Sale) ….…..
53
Days on Market (Pending Sale) ….…..
64
20.7%
Percent Under Contract ………….……
27.00%
Percent Under Contract ………….……
37.44%
38.7%
ENCINO
SFR
Median Price ……………………..…….
$1,112,000
Median Price ……………………..…….
$1,400,000
25.9%
Average Price per Square Foot ….…
$399
Average Price per Square Foot ….…
$510
27.8%
Properties Sold ……………………….
27
Properties Sold ……………………….
32
18.5%
Properties Pending Sale ………………
26
Properties Pending Sale ………………
25
-3.8%
Properties For Sale …………….……...
100
Properties For Sale …………….……...
121
21.0%
Days on Market (Pending Sale) ….…..
56
Days on Market (Pending Sale) ….…..
82
45.4%
Percent Under Contract ………….……
26.00%
Percent Under Contract ………….……
20.66%
-20.5%
ENCINO
CONDO
Median Price ……………………..…….
$325,000
Median Price ……………………..…….
$259,750
-20.1%
Average Price per Square Foot ….…
$237
Average Price per Square Foot ….…
$244
3.0%
Properties Sold ……………………….
15
Properties Sold ……………………….
8
-46.7%
Properties Pending Sale ………………
10
Properties Pending Sale ………………
7
-30.0%
Properties For Sale …………….……...
23
Properties For Sale …………….……...
25
8.7%
Days on Market (Pending Sale) ….…..
49
Days on Market (Pending Sale) ….…..
76
56.4%
Percent Under Contract ………….……
43.48%
Percent Under Contract ………….……
28.00%
-35.6%
HANCOCK PARK-WILSHIRE
SFR
Median Price ……………………..…….
$1,135,000
Median Price ……………………..…….
$1,350,305
19.0%
Average Price per Square Foot ….…
$524
Average Price per Square Foot ….…
$636
21.4%
Properties Sold ……………………….
70
Properties Sold ……………………….
66
-5.7%
Properties Pending Sale ………………
73
Properties Pending Sale ………………
66
-9.6%
Properties For Sale …………….……...
190
Properties For Sale …………….……...
174
-8.4%
Days on Market (Pending Sale) ….…..
53
Days on Market (Pending Sale) ….…..
56
5.5%
Percent Under Contract ………….……
38.42%
Percent Under Contract ………….……
37.93%
-1.3%
HOLLYWOOD
SFR
Median Price ……………………..…….
$674,000
Median Price ……………………..…….
$714,000
5.9%
Average Price per Square Foot ….…
$417
Average Price per Square Foot ….…
$529
26.9%
Properties Sold ……………………….
18
Properties Sold ……………………….
15
-16.7%
Properties Pending Sale ………………
12
Properties Pending Sale ………………
22
83.3%
Properties For Sale …………….……...
37
Properties For Sale …………….……...
44
18.9%
Days on Market (Pending Sale) ….…..
38
Days on Market (Pending Sale) ….…..
44
16.4%
Percent Under Contract ………….……
32.43%
Percent Under Contract ………….……
50.00%
54.2%
HOLLYWOOD
CONDO
Median Price ……………………..…….
$585,000
Median Price ……………………..…….
$610,000
4.3%
Average Price per Square Foot ….…
$469
Average Price per Square Foot ….…
$552
17.7%
Properties Sold ……………………….
26
Properties Sold ……………………….
29
11.5%
Properties Pending Sale ………………
28
Properties Pending Sale ………………
22
-21.4%
Properties For Sale …………….……...
87
Properties For Sale …………….……...
65
-25.3%
Days on Market (Pending Sale) ….…..
54
Days on Market (Pending Sale) ….…..
91
68.9%
Percent Under Contract ………….……
32.18%
Percent Under Contract ………….……
33.85%
5.2%
HOLLYWOOD HILLS EAST
SFR
Median Price ……………………..…….
$1,002,500
Median Price ……………………..…….
$1,162,500
16.0%
Average Price per Square Foot ….…
$521
Average Price per Square Foot ….…
$526
1.0%
Properties Sold ……………………….
37
Properties Sold ……………………….
36
-2.7%
Properties Pending Sale ………………
46
Properties Pending Sale ………………
33
-28.3%
Properties For Sale …………….……...
118
Properties For Sale …………….……...
104
-11.9%
Days on Market (Pending Sale) ….…..
61
Days on Market (Pending Sale) ….…..
66
8.0%
Percent Under Contract ………….……
38.98%
Percent Under Contract ………….……
31.73%
18.6%
LOS FELIZ
SFR
Median Price ……………………..…….
$1,186,000
Median Price ……………………..…….
$1,250,000
5.4%
Average Price per Square Foot ….…
$561
Average Price per Square Foot ….…
$613
9.3%
Properties Sold ……………………….
67
Properties Sold ……………………….
57
-14.9%
Properties Pending Sale ………………
50
Properties Pending Sale ………………
55
10.0%
Properties For Sale …………….……...
121
Properties For Sale …………….……...
133
9.9%
Days on Market (Pending Sale) ….…..
66
Days on Market (Pending Sale) ….…..
45
-32.6%
Percent Under Contract ………….……
41.32%
Percent Under Contract ………….……
41.35%
0.1%
LOS FELIZ
CONDO
Median Price ……………………..…….
$470,750
Median Price ……………………..…….
$495,000
5.2%
Average Price per Square Foot ….…
$439
Average Price per Square Foot ….…
$464
5.7%
Properties Sold ……………………….
6
Properties Sold ……………………….
7
16.7%
Properties Pending Sale ………………
5
Properties Pending Sale ………………
6
20.0%
Properties For Sale …………….……...
8
Properties For Sale …………….……...
13
62.5%
Days on Market (Pending Sale) ….…..
28
Days on Market (Pending Sale) ….…..
22
-21.5%
Percent Under Contract ………….……
62.50%
Percent Under Contract ………….……
46.15%
-26.2%
MALIBU
SFR
Median Price ……………………..…….
$1,793,000
Median Price ……………………..…….
$2,350,000
31.1%
Average Price per Square Foot ….…
$688
Average Price per Square Foot ….…
$993
44.3%
Properties Sold ……………………….
45
Properties Sold ……………………….
43
-4.4%
Properties Pending Sale ………………
48
Properties Pending Sale ………………
52
8.3%
Properties For Sale …………….……...
303
Properties For Sale …………….……...
285
-5.9%
Days on Market (Pending Sale) ….…..
149
Days on Market (Pending Sale) ….…..
137
-8.5%
Percent Under Contract ………….……
15.84%
Percent Under Contract ………….……
18.25%
15.2%
MALIBU BEACH
SFR
Median Price ……………………..…….
$5,528,750
Median Price ……………………..…….
$7,105,000
28.5%
Average Price per Square Foot ….…
$2,386
Average Price per Square Foot ….…
$2,575
7.9%
Properties Sold ……………………….
10
Properties Sold ……………………….
14
40.0%
Properties Pending Sale ………………
10
Properties Pending Sale ………………
13
30.0%
Properties For Sale …………….……...
105
Properties For Sale …………….……...
97
-7.6%
Days on Market (Pending Sale) ….…..
224
Days on Market (Pending Sale) ….…..
119
-46.9%
Percent Under Contract ………….……
9.52%
Percent Under Contract ………….……
13.40%
40.7%
MARINA DEL REY
SFR
Median Price ……………………..…….
$1,250,000
Median Price ……………………..…….
$1,557,500
24.6%
Average Price per Square Foot ….…
$532
Average Price per Square Foot ….…
$614
15.4%
Properties Sold ……………………….
13
Properties Sold ……………………….
8
-38.5%
Properties Pending Sale ………………
11
Properties Pending Sale ………………
10
-9.1%
Properties For Sale …………….……...
36
Properties For Sale …………….……...
41
13.9%
Days on Market (Pending Sale) ….…..
46
Days on Market (Pending Sale) ….…..
46
-1.9%
Percent Under Contract ………….……
30.56%
Percent Under Contract ………….……
24.39%
-20.2%
MARINA DEL REY
CONDO
Median Price ……………………..…….
$775,000
Median Price ……………………..…….
$775,000
0.0%
Average Price per Square Foot ….…
$583
Average Price per Square Foot ….…
$572
-1.9%
Properties Sold ……………………….
77
Properties Sold ……………………….
79
2.6%
Properties Pending Sale ………………
66
Properties Pending Sale ………………
84
27.3%
Properties For Sale …………….……...
227
Properties For Sale …………….……...
180
-20.7%
Days on Market (Pending Sale) ….…..
92
Days on Market (Pending Sale) ….…..
84
-9.1%
Percent Under Contract ………….……
29.07%
Percent Under Contract ………….……
46.67%
60.5%
MID LOS ANGELES
SFR
Median Price ……………………..…….
$460,000
Median Price ……………………..…….
$554,250
20.5%
Average Price per Square Foot ….…
$311
Average Price per Square Foot ….…
$336
8.0%
Properties Sold ……………………….
40
Properties Sold ……………………….
38
-5.0%
Properties Pending Sale ………………
49
Properties Pending Sale ………………
50
2.0%
Properties For Sale …………….……...
140
Properties For Sale …………….……...
121
-13.6%
Days on Market (Pending Sale) ….…..
52
Days on Market (Pending Sale) ….…..
36
-31.0%
Percent Under Contract ………….……
35.00%
Percent Under Contract ………….……
41.32%
18.1%
MID WILSHIRE
SFR
Median Price ……………………..…….
$500,000
Median Price ……………………..…….
$655,500
31.1%
Average Price per Square Foot ….…
$280
Average Price per Square Foot ….…
$302
7.9%
Properties Sold ……………………….
9
Properties Sold ……………………….
12
33.3%
Properties Pending Sale ………………
11
Properties Pending Sale ………………
9
-18.2%
Properties For Sale …………….……...
42
Properties For Sale …………….……...
22
-47.6%
Days on Market (Pending Sale) ….…..
36
Days on Market (Pending Sale) ….…..
61
70.1%
Percent Under Contract ………….……
26.19%
Percent Under Contract ………….……
40.91%
56.2%
PACIFIC PALISADES
SFR
Median Price ……………………..…….
$2,200,500
Median Price ……………………..…….
$2,500,000
13.6%
Average Price per Square Foot ….…
$775
Average Price per Square Foot ….…
$949
22.5%
Properties Sold ……………………….
101
Properties Sold ……………………….
93
-7.9%
Properties Pending Sale ………………
83
Properties Pending Sale ………………
70
-15.7%
Properties For Sale …………….……...
202
Properties For Sale …………….……...
186
-7.9%
Days on Market (Pending Sale) ….…..
65
Days on Market (Pending Sale) ….…..
53
-19.0%
Percent Under Contract ………….……
41.09%
Percent Under Contract ………….……
37.63%
-8.4%
PALMS – MAR VISTA
SFR
Median Price ……………………..…….
$935,000
Median Price ……………………..…….
$950,000
1.6%
Average Price per Square Foot ….…
$576
Average Price per Square Foot ….…
$667
15.8%
Properties Sold ……………………….
81
Properties Sold ……………………….
73
-9.9%
Properties Pending Sale ………………
77
Properties Pending Sale ………………
75
-2.6%
Properties For Sale …………….……...
147
Properties For Sale …………….……...
144
-2.0%
Days on Market (Pending Sale) ….…..
39
Days on Market (Pending Sale) ….…..
40
3.1%
Percent Under Contract ………….……
52.38%
Percent Under Contract ………….……
52.08%
-0.6%
SANTA MONICA
SFR
Median Price ……………………..…….
$2,212,500
Median Price ……………………..…….
$1,890,000
-14.6%
Average Price per Square Foot ….…
$1,030
Average Price per Square Foot ….…
$934
-9.3%
Properties Sold ……………………….
66
Properties Sold ……………………….
70
6.1%
Properties Pending Sale ………………
66
Properties Pending Sale ………………
66
0.0%
Properties For Sale …………….……...
157
Properties For Sale …………….……...
143
-8.9%
Days on Market (Pending Sale) ….…..
47
Days on Market (Pending Sale) ….…..
49
2.6%
Percent Under Contract ………….……
42.04%
Percent Under Contract ………….……
46.15%
9.8%
SANTA MONICA
CONDO
Median Price ……………………..…….
$842,000
Median Price ……………………..…….
$1,025,000
21.7%
Average Price per Square Foot ….…
$663
Average Price per Square Foot ….…
$951
43.4%
Properties Sold ……………………….
110
Properties Sold ……………………….
122
10.9%
Properties Pending Sale ………………
110
Properties Pending Sale ………………
127
15.5%
Properties For Sale …………….……...
207
Properties For Sale …………….……...
276
33.3%
Days on Market (Pending Sale) ….…..
45
Days on Market (Pending Sale) ….…..
45
0.6%
Percent Under Contract ………….……
53.14%
Percent Under Contract ………….……
46.01%
-13.4%
SHERMAN OAKS
SFR
Median Price ……………………..…….
$865,000
Median Price ……………………..…….
$977,500
13.0%
Average Price per Square Foot ….…
$442
Average Price per Square Foot ….…
$462
4.5%
Properties Sold ……………………….
70
Properties Sold ……………………….
62
-11.4%
Properties Pending Sale ………………
55
Properties Pending Sale ………………
69
25.5%
Properties For Sale …………….……...
137
Properties For Sale …………….……...
185
35.0%
Days on Market (Pending Sale) ….…..
51
Days on Market (Pending Sale) ….…..
52
0.7%
Percent Under Contract ………….……
40.15%
Percent Under Contract ………….……
37.30%
-7.1%
SHERMAN OAKS
CONDO
Median Price ……………………..…….
$407,000
Median Price ……………………..…….
$345,000
-15.2%
Average Price per Square Foot ….…
$318
Average Price per Square Foot ….…
$310
-2.5%
Properties Sold ……………………….
24
Properties Sold ……………………….
17
-29.2%
Properties Pending Sale ………………
19
Properties Pending Sale ………………
23
21.1%
Properties For Sale …………….……...
40
Properties For Sale …………….……...
73
82.5%
Days on Market (Pending Sale) ….…..
56
Days on Market (Pending Sale) ….…..
71
28.4%
Percent Under Contract ………….……
45.50%
Percent Under Contract ………….……
31.51%
-33.7%
SILVER LAKE – ECHO PARK
SFR
Median Price ……………………..…….
$722,000
Median Price ……………………..…….
$825,000
14.3%
Average Price per Square Foot ….…
$515
Average Price per Square Foot ….…
$577
12.0%
Properties Sold ……………………….
70
Properties Sold ……………………….
60
-14.3%
Properties Pending Sale ………………
73
Properties Pending Sale ………………
77
55.0%
Properties For Sale …………….……...
138
Properties For Sale …………….……...
143
3.6%
Days on Market (Pending Sale) ….…..
42
Days on Market (Pending Sale) ….…..
38
-10.5%
Percent Under Contract ………….……
52.90%
Percent Under Contract ………….……
53.85%
1.8%
STUDIO CITY
SFR
Median Price ……………………..…….
$1,162,500
Median Price ……………………..…….
$1,275,000
9.7%
Average Price per Square Foot ….…
$511
Average Price per Square Foot ….…
$567
11.0%
Properties Sold ……………………….
52
Properties Sold ……………………….
37
-28.8%
Properties Pending Sale ………………
47
Properties Pending Sale ………………
42
-10.6%
Properties For Sale …………….……...
123
Properties For Sale …………….……...
108
-12.2%
Days on Market (Pending Sale) ….…..
55
Days on Market (Pending Sale) ….…..
50
-9.3%
Percent Under Contract ………….……
38.21%
Percent Under Contract ………….……
38.89%
1.8%
STUDIO CITY
CONDO
Median Price ……………………..…….
$535,000
Median Price ……………………..…….
$526,500
-1.6%
Average Price per Square Foot ….…
$368
Average Price per Square Foot ….…
$382
3.8%
Properties Sold ……………………….
21
Properties Sold ……………………….
18
-14.3%
Properties Pending Sale ………………
18
Properties Pending Sale ………………
15
-16.7%
Properties For Sale …………….……...
46
Properties For Sale …………….……...
46
0.0%
Days on Market (Pending Sale) ….…..
55
Days on Market (Pending Sale) ….…..
59
7.3%
Percent Under Contract ………….……
39.13%
Percent Under Contract ………….……
32.61%
-16.7%
SUNSET STRIP – HOLLYWOOD HILLS WEST
SFR
Median Price ……………………..…….
$1,425,000
Median Price ……………………..…….
$1,888,500
32.5%
Average Price per Square Foot ….…
$666
Average Price per Square Foot ….…
$834
25.2%
Properties Sold ……………………….
105
Properties Sold ……………………….
104
-1.0%
Properties Pending Sale ………………
100
Properties Pending Sale ………………
95
-5.0%
Properties For Sale …………….……...
418
Properties For Sale …………….……...
403
-3.6%
Days on Market (Pending Sale) ….…..
65
Days on Market (Pending Sale) ….…..
79
22.6%
Percent Under Contract ………….……
23.92%
Percent Under Contract ………….……
23.57%
-1.5%
SUNSET STRIP – HOLLYWOOD HILLS WEST
CONDO
Median Price ……………………..…….
$545,000
Median Price ……………………..…….
$448,000
-17.8%
Average Price per Square Foot ….…
$574
Average Price per Square Foot ….…
$516
-10.1%
Properties Sold ……………………….
21
Properties Sold ……………………….
22
4.8%
Properties Pending Sale ………………
19
Properties Pending Sale ………………
23
21.1%
Properties For Sale …………….……...
56
Properties For Sale …………….……...
53
-5.4%
Days on Market (Pending Sale) ….…..
48
Days on Market (Pending Sale) ….…..
68
40.5%
Percent Under Contract ………….……
33.93%
Percent Under Contract ………….……
43.40%
27.9%
TOPANGA
SFR
Median Price ……………………..…….
$839,250
Median Price ……………………..…….
$1,000,000
19.2%
Average Price per Square Foot ….…
$417
Average Price per Square Foot ….…
$539
29.3%
Properties Sold ……………………….
30
Properties Sold ……………………….
23
-23.3%
Properties Pending Sale ………………
20
Properties Pending Sale ………………
20
0.0%
Properties For Sale …………….……...
76
Properties For Sale …………….……...
78
2.6%
Days on Market (Pending Sale) ….…..
97
Days on Market (Pending Sale) ….…..
88
-9.3%
Percent Under Contract ………….……
26.32%
Percent Under Contract ………….……
25.64%
-2.6%
VENICE
SFR
Median Price ……………………..…….
$1,395,000
Median Price ……………………..…….
$1,680,830
20.5%
Average Price per Square Foot ….…
$852
Average Price per Square Foot ….…
$1,041
22.2%
Properties Sold ……………………….
60
Properties Sold ……………………….
44
-26.7%
Properties Pending Sale ………………
64
Properties Pending Sale ………………
46
-28.1%
Properties For Sale …………….……...
137
Properties For Sale …………….……...
99
-27.7%
Days on Market (Pending Sale) ….…..
53
Days on Market (Pending Sale) ….…..
66
24.6%
Percent Under Contract ………….……
46.72%
Percent Under Contract ………….……
46.46%
-0.5%
VENICE
CONDO
Median Price ……………………..…….
$1,162,500
Median Price ……………………..…….
$1,172,500
0.9%
Average Price per Square Foot ….…
$697
Average Price per Square Foot ….…
$715
2.6%
Properties Sold ……………………….
12
Properties Sold ……………………….
10
-16.7%
Properties Pending Sale ………………
13
Properties Pending Sale ………………
10
-23.1%
Properties For Sale …………….……...
34
Properties For Sale …………….……...
37
8.8%
Days on Market (Pending Sale) ….…..
72
Days on Market (Pending Sale) ….…..
63
-12.3%
Percent Under Contract ………….……
38.24%
Percent Under Contract ………….……
27.03%
-29.3%
WEST HOLLYWOOD
SFR
Median Price ……………………..…….
$1,046,500
Median Price ……………………..…….
$1,190,000
13.7%
Average Price per Square Foot ….…
$685
Average Price per Square Foot ….…
$807
17.8%
Properties Sold ……………………….
26
Properties Sold ……………………….
31
19.2%
Properties Pending Sale ………………
23
Properties Pending Sale ………………
31
34.8%
Properties For Sale …………….……...
81
Properties For Sale …………….……...
85
4.9%
Days on Market (Pending Sale) ….…..
48
Days on Market (Pending Sale) ….…..
51
6.1%
Percent Under Contract ………….……
28.40%
Percent Under Contract ………….……
36.47%
28.4%
WEST HOLLYWOOD
CONDO
Median Price ……………………..…….
$507,500
Median Price ……………………..…….
$630,000
24.1%
Average Price per Square Foot ….…
$526
Average Price per Square Foot ….…
$531
1.0%
Properties Sold ……………………….
104
Properties Sold ……………………….
81
-22.1%
Properties Pending Sale ………………
96
Properties Pending Sale ………………
77
-19.8%
Properties For Sale …………….……...
246
Properties For Sale …………….……...
237
-3.7%
Days on Market (Pending Sale) ….…..
59
Days on Market (Pending Sale) ….…..
50
-16.4%
Percent Under Contract ………….……
39.02%
Percent Under Contract ………….……
32.49%
-16.7%
WEST LOS ANGELES
SFR
Median Price ……………………..…….
$852,500
Median Price ……………………..…….
$882,500
3.5%
Average Price per Square Foot ….…
$602
Average Price per Square Foot ….…
$623
3.5%
Properties Sold ……………………….
22
Properties Sold ……………………….
25
13.6%
Properties Pending Sale ………………
26
Properties Pending Sale ………………
30
15.4%
Properties For Sale …………….……...
51
Properties For Sale …………….……...
66
29.4%
Days on Market (Pending Sale) ….…..
43
Days on Market (Pending Sale) ….…..
44
1.6%
Percent Under Contract ………….……
50.98%
Percent Under Contract ………….……
45.45%
-10.8%
WESTCHESTER
SFR
Median Price ……………………..…….
$777,250
Median Price ……………………..…….
$824,500
6.1%
Average Price per Square Foot ….…
$470
Average Price per Square Foot ….…
$512
8.9%
Properties Sold ……………………….
87
Properties Sold ……………………….
90
3.4%
Properties Pending Sale ………………
77
Properties Pending Sale ………………
74
-3.9%
Properties For Sale …………….……...
113
Properties For Sale …………….……...
125
10.6%
Days on Market (Pending Sale) ….…..
45
Days on Market (Pending Sale) ….…..
41
-9.5%
Percent Under Contract ………….……
68.14%
Percent Under Contract ………….……
59.20%
-13.1%
WESTCHESTER
CONDO
Median Price ……………………..…….
$439,990
Median Price ……………………..…….
$458,500
4.2%
Average Price per Square Foot ….…
$377
Average Price per Square Foot ….…
$378
0.3%
Properties Sold ……………………….
3
Properties Sold ……………………….
3
0.0%
Properties Pending Sale ………………
6
Properties Pending Sale ………………
3
-50.0%
Properties For Sale …………….……...
14
Properties For Sale …………….……...
13
-7.1%
Days on Market (Pending Sale) ….…..
89
Days on Market (Pending Sale) ….…..
56
-37.1%
Percent Under Contract ………….……
42.86%
Percent Under Contract ………….……
23.08%
-46.2%
WESTWOOD – CENTURY CITY
SFR
Median Price ……………………..…….
$1,610,500
Median Price ……………………..…….
$1,970,000
22.3%
Average Price per Square Foot ….…
$716
Average Price per Square Foot ….…
$771
7.7%
Properties Sold ……………………….
37
Properties Sold ……………………….
58
56.8%
Properties Pending Sale ………………
37
Properties Pending Sale ………………
48
29.7%
Properties For Sale …………….……...
104
Properties For Sale …………….……...
106
1.9%
Days on Market (Pending Sale) ….…..
40
Days on Market (Pending Sale) ….…..
41
4.1%
Percent Under Contract ………….……
35.58%
Percent Under Contract ………….……
45.28%
27.3%
WESTWOOD – CENTURY CITY
CONDO
Median Price ……………………..…….
$695,000
Median Price ……………………..…….
$775,000
11.5%
Average Price per Square Foot ….…
$592
Average Price per Square Foot ….…
$686
15.9%
Properties Sold ……………………….
158
Properties Sold ……………………….
133
-15.8%
Properties Pending Sale ………………
159
Properties Pending Sale ………………
141
-11.3%
Properties For Sale …………….……...
476
Properties For Sale …………….……...
446
-6.3%
Days on Market (Pending Sale) ….…..
65
Days on Market (Pending Sale) ….…..
65
-0.8%
Percent Under Contract ………….……
33.40%
Percent Under Contract ………….……
31.61%
-5.4%
WOODLAND HILLS
SFR
Median Price ……………………..…….
$635,000
Median Price ……………………..…….
$790,000
24.4%
Average Price per Square Foot ….…
$327
Average Price per Square Foot ….…
$309
-5.5%
Properties Sold ……………………….
13
Properties Sold ……………………….
25
92.3%
Properties Pending Sale ………………
15
Properties Pending Sale ………………
24
60.0%
Properties For Sale …………….……...
57
Properties For Sale …………….……...
80
40.4%
Days on Market (Pending Sale) ….…..
51
Days on Market (Pending Sale) ….…..
64
25.4%
Percent Under Contract ………….……
26.32%
Percent Under Contract ………….……
30.00%
14.0%
WOODLAND HILLS
CONDO
Median Price ……………………..…….
$345,000
Median Price ……………………..…….
$377,500
9.4%
Average Price per Square Foot ….…
$346
Average Price per Square Foot ….…
$349
0.9%
Properties Sold ……………………….
7
Properties Sold ……………………….
6
-14.3%
Properties Pending Sale ………………
6
Properties Pending Sale ………………
3
-50.0%
Properties For Sale …………….……...
14
Properties For Sale …………….……...
12
-14.3%
Days on Market (Pending Sale) ….…..
44
Days on Market (Pending Sale) ….…..
59
34.8%
Percent Under Contract ………….……
42.86%
Percent Under Contract ………….……
25.00%
-41.7%
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.