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
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$2,241,000
Median Price ……………………..…….
$1,750,000
-21.9%
Average Price per Square Foot ….…
$769
Average Price per Square Foot ….…
$990
28.7%
Properties Sold ……………………….
54
Properties Sold ……………………….
39
-27.8%
Properties Pending Sale ………………
41
Properties Pending Sale ………………
46
12.2%
Properties For Sale …………….……...
171
Properties For Sale …………….……...
174
1.8%
Days on Market (Pending Sale) ….…..
98
Days on Market (Pending Sale) ….…..
85
-13.4%
Percent Under Contract ………….……
23.98%
Percent Under Contract ………….……
26.44%
10.3%
BEVERLY CENTER – MIRACLE MILE
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,316,000
Median Price ……………………..…….
$1,324,000
0.6%
Average Price per Square Foot ….…
$590
Average Price per Square Foot ….…
$643
9.0%
Properties Sold ……………………….
46
Properties Sold ……………………….
49
6.5%
Properties Pending Sale ………………
34
Properties Pending Sale ………………
34
0.0%
Properties For Sale …………….……...
84
Properties For Sale …………….……...
93
10.7%
56
24.2%
36.56%
-9.7%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
45 40.48%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
BEVERLY CENTER – MIRACLE MILE
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$745,000
Median Price ……………………..…….
$605,000
-18.8%
Average Price per Square Foot ….…
$506
Average Price per Square Foot ….…
$490
-3.2%
Properties Sold ……………………….
37
Properties Sold ……………………….
20
-45.9%
Properties Pending Sale ………………
24
Properties Pending Sale ………………
23
-4.2%
Properties For Sale …………….……...
60
Properties For Sale …………….……...
52
-13.3%
72
14.2%
44.23%
10.6%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
63 40.00%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
BEVERLY HILLS
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$5,508,588
Median Price ……………………..…….
$3,080,000
-44.1%
Average Price per Square Foot ….…
$1,088
Average Price per Square Foot ….…
$1,156
6.2%
Properties Sold ……………………….
50
Properties Sold ……………………….
40
-20.0%
Properties Pending Sale ………………
41
Properties Pending Sale ………………
42
2.4%
Properties For Sale …………….……...
179
Properties For Sale …………….……...
150
-16.2%
73
5.7%
28.00%
22.2%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
69 22.91%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
BEVERLY HILLS
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$940,000
Median Price ……………………..…….
$1,005,000
6.9%
Average Price per Square Foot ….…
$573
Average Price per Square Foot ….…
$629
9.8%
Properties Sold ……………………….
25
Properties Sold ……………………….
19
-24.0%
Properties Pending Sale ………………
19
Properties Pending Sale ………………
25
31.6%
Properties For Sale …………….……...
82
Properties For Sale …………….……...
87
6.1%
89
3.8%
28.74%
24.0%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
86 23.17%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
BEVERLY HILLS P.O.
SFR
Q4 2014
% CHANGE
Q4 2013
Median Price ……………………..…….
$1,915,000
Median Price ……………………..…….
$2,597,500
35.6%
Average Price per Square Foot ….…
$809
Average Price per Square Foot ….…
$826
2.1%
Properties Sold ……………………….
37
Properties Sold ……………………….
42
13.5%
Properties Pending Sale ………………
35
Properties Pending Sale ………………
40
14.3%
Properties For Sale …………….……...
184
Properties For Sale …………….……...
197
7.1%
104
45.9%
20.30%
6.7%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
71 19.02%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
BEVERLYWOOD
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$960,000
Median Price ……………………..…….
$864,500
-9.9%
Average Price per Square Foot ….…
$552
Average Price per Square Foot ….…
$585
6.0%
Properties Sold ……………………….
43
Properties Sold ……………………….
50
16.3%
Properties Pending Sale ………………
35
Properties Pending Sale ………………
41
17.1%
Properties For Sale …………….……...
104
Properties For Sale …………….……...
91
-12.5%
37
-7.1%
45.05%
33.9%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
40 33.65%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
BRENTWOOD
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$2,320,000
Median Price ……………………..…….
$2,420,000
4.3%
Average Price per Square Foot ….…
$838
Average Price per Square Foot ….…
$956
14.1%
Properties Sold ……………………….
55
Properties Sold ……………………….
70
27.3%
Properties Pending Sale ………………
54
Properties Pending Sale ………………
67
24.1%
Properties For Sale …………….……...
164
Properties For Sale …………….……...
165
0.6%
58
-15.7%
40.61%
23.3%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
69 32.93%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
BRENTWOOD
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$680,000
Median Price ……………………..…….
$775,000
14.0%
Average Price per Square Foot ….…
$489
Average Price per Square Foot ….…
$525
7.4%
Properties Sold ……………………….
45
Properties Sold ……………………….
50
11.1%
Properties Pending Sale ………………
36
Properties Pending Sale ………………
55
52.8%
Properties For Sale …………….……...
115
Properties For Sale …………….……...
129
12.2%
65
11.1%
42.64%
36.2%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
59 31.30%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
BURBANK
SFR
Q4 2013
Q4 2014
% CHANGE
Median Price ……………………..…….
$595,000
Median Price ……………………..…….
$649,000
9.1%
Average Price per Square Foot ….…
$386
Average Price per Square Foot ….…
$429
11.1%
Properties Sold ……………………….
105
Properties Sold ……………………….
131
24.8%
Properties Pending Sale ………………
111
Properties Pending Sale ………………
136
22.5%
Properties For Sale …………….……...
237
Properties For Sale …………….……...
274
15.6%
53
8.1%
49.64%
6.0%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
49 46.84%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
BURBANK
CONDO
Q4 2013
Q4 2014
% CHANGE
Median Price ……………………..…….
$406,500
Median Price ……………………..…….
$433,500
6.6%
Average Price per Square Foot ….…
$326
Average Price per Square Foot ….…
$345
5.8%
Properties Sold ……………………….
28
Properties Sold ……………………….
50
78.6%
Properties Pending Sale ………………
23
Properties Pending Sale ………………
61
165.2%
Properties For Sale …………….……...
78
Properties For Sale …………….……...
112
43.6%
66
45.2%
54.46%
84.7%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
45 29.49%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
CALABASAS
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$845,000
Median Price ……………………..…….
$1,087,750
28.7%
Average Price per Square Foot ….…
$429
Average Price per Square Foot ….…
$449
4.7%
Properties Sold ……………………….
17
Properties Sold ……………………….
38
123.5%
Properties Pending Sale ………………
26
Properties Pending Sale ………………
34
30.8%
Properties For Sale …………….……...
128
Properties For Sale …………….……...
162
26.6%
92
-7.6%
20.99%
3.3%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
99 20.31%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
CALABASAS
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$315,000
Median Price ……………………..…….
$431,250
36.9%
Average Price per Square Foot ….…
$360
Average Price per Square Foot ….…
$302
-16.1%
Properties Sold ……………………….
3
Properties Sold ……………………….
16
433.3%
Properties Pending Sale ………………
4
Properties Pending Sale ………………
22
450.0%
Properties For Sale …………….……...
22
Properties For Sale …………….……...
38
72.7%
86
-36.6%
57.89%
218.4%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
136 18.18%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
CHEVIOT HILLS-RANCH PARK
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,380,000
Median Price ……………………..…….
$1,675,000
21.4%
Average Price per Square Foot ….…
$626
Average Price per Square Foot ….…
$702
12.1%
Properties Sold ……………………….
19
Properties Sold ……………………….
21
10.5%
Properties Pending Sale ………………
15
Properties Pending Sale ………………
24
60.0%
Properties For Sale …………….……...
30
Properties For Sale …………….……...
43
43.3%
48
-21.4%
55.81%
11.6%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
60 50.00%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
CULVER CITY
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$852,500
Median Price ……………………..…….
$847,500
-0.6%
Average Price per Square Foot ….…
$551
Average Price per Square Foot ….…
$573
4.0%
Properties Sold ……………………….
40
Properties Sold ……………………….
54
35.0%
Properties Pending Sale ………………
34
Properties Pending Sale ………………
45
32.4%
Properties For Sale …………….……...
76
Properties For Sale …………….……...
86
13.2%
43
-13.2%
52.33%
17.0%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
50 44.74%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
CULVER CITY
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$400,000
Median Price ……………………..…….
$420,000
5.0%
Average Price per Square Foot ….…
$385
Average Price per Square Foot ….…
$398
3.4%
Properties Sold ……………………….
33
Properties Sold ……………………….
58
75.8%
Properties Pending Sale ………………
35
Properties Pending Sale ………………
66
88.6%
Properties For Sale …………….……...
74
Properties For Sale …………….……...
108
45.9%
43
-14.6%
61.11%
29.2%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
50 47.30%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
DOWNTOWN
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$255,000
Median Price ……………………..…….
$215,000
-15.7%
Average Price per Square Foot ….…
$162
Average Price per Square Foot ….…
$248
53.1%
Properties Sold ……………………….
21
Properties Sold ……………………….
13
-38.1%
Properties Pending Sale ………………
27
Properties Pending Sale ………………
26
-3.7%
Properties For Sale …………….……...
91
Properties For Sale …………….……...
76
-16.5%
67
6.2%
34.21%
15.3%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
63 29.67%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
DOWNTOWN
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$499,000
Median Price ……………………..…….
$519,250
4.1%
Average Price per Square Foot ….…
$546
Average Price per Square Foot ….…
$540
-1.1%
Properties Sold ……………………….
73
Properties Sold ……………………….
104
42.5%
Properties Pending Sale ………………
85
Properties Pending Sale ………………
100
17.6%
Properties For Sale …………….……...
282
Properties For Sale …………….……...
259
-8.2%
Days on Market (Pending Sale) ….…..
63
-6.4%
Percent Under Contract ………….……
38.61%
28.1%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
68 30.14%
ENCINO
SFR
Q4 2013
Q4 2014
% CHANGE
Median Price ……………………..…….
$850,000
Median Price ……………………..…….
$1,017,150
19.7%
Average Price per Square Foot ….…
$406
Average Price per Square Foot ….…
$450
10.8%
Properties Sold ……………………….
52
Properties Sold ……………………….
112
115.4%
Properties Pending Sale ………………
59
Properties Pending Sale ………………
112
89.8%
Properties For Sale …………….……...
229
Properties For Sale …………….……...
287
25.3%
62
-21.0%
39.02%
51.5%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
78 25.76%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
ENCINO
CONDO
Q4 2013
Q4 2014
% CHANGE
Median Price ……………………..…….
$320,000
Median Price ……………………..…….
$360,000
12.5%
Average Price per Square Foot ….…
$226
Average Price per Square Foot ….…
$269
19.0%
Properties Sold ……………………….
15
Properties Sold ……………………….
46
206.7%
Properties Pending Sale ………………
18
Properties Pending Sale ………………
56
211.1%
Properties For Sale …………….……...
72
Properties For Sale …………….……...
114
58.3%
66
7.2%
49.12%
96.5%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
62 25.00%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
HANCOCK PARK-WILSHIRE
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,300,000
Median Price ……………………..…….
$1,252,500
-3.7%
Average Price per Square Foot ….…
$581
Average Price per Square Foot ….…
$632
8.8%
Properties Sold ……………………….
80
Properties Sold ……………………….
76
-5.0%
Properties Pending Sale ………………
64
Properties Pending Sale ………………
82
28.1%
Properties For Sale …………….……...
182
Properties For Sale …………….……...
192
5.5%
57
-1.8%
42.71%
21.5%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
58 35.16%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
HOLLYWOOD
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$575,000
Median Price ……………………..…….
$797,500
38.7%
Average Price per Square Foot ….…
$421
Average Price per Square Foot ….…
$504
19.7%
Properties Sold ……………………….
14
Properties Sold ……………………….
34
142.9%
Properties Pending Sale ………………
9
Properties Pending Sale ………………
24
166.7%
Properties For Sale …………….……...
34
Properties For Sale …………….……...
64
88.20%
41
-37.9%
37.50%
41.7%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
66 26.47%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
HOLLYWOOD
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$585,000
Median Price ……………………..…….
$550,000
-6.0%
Average Price per Square Foot ….…
$460
Average Price per Square Foot ….…
$494
7.4%
Properties Sold ……………………….
29
Properties Sold ……………………….
26
-10.3%
Properties Pending Sale ………………
25
Properties Pending Sale ………………
22
-12.0%
Properties For Sale …………….……...
91
Properties For Sale …………….……...
66
-27.5%
77
-0.6%
33.33%
21.3%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
78 27.47%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
HOLLYWOOD HILLS EAST
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,100,000
Median Price ……………………..…….
$1,155,000
5.0%
Average Price per Square Foot ….…
$508
Average Price per Square Foot ….…
$608
19.7%
Properties Sold ……………………….
35
Properties Sold ……………………….
37
5.7%
Properties Pending Sale ………………
32
Properties Pending Sale ………………
32
0.0%
Properties For Sale …………….……...
101
Properties For Sale …………….……...
111
9.9%
67
2.9%
28.83%
-9.0%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
66 31.68%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
LOS FELIZ
SFR
Q4 2013
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,405,000
Median Price ……………………..…….
$1,325,000
-5.7%
Average Price per Square Foot ….…
$615
Average Price per Square Foot ….…
$644
4.7%
Properties Sold ……………………….
47
Properties Sold ……………………….
57
21.3%
Properties Pending Sale ………………
44
Properties Pending Sale ………………
58
31.8%
Properties For Sale …………….……...
134
Properties For Sale …………….……...
125
-6.7%
58
18.9%
46.40%
41.3%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
49 32.84%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
LOS FELIZ
CONDO
Q4 2013
Q4 2014
% CHANGE
Median Price ……………………..…….
$549,500
Median Price ……………………..…….
$497,500
-9.5%
Average Price per Square Foot ….…
$429
Average Price per Square Foot ….…
$545
27.0%
Properties Sold ……………………….
8
Properties Sold ……………………….
6
-25.0%
Properties Pending Sale ………………
8
Properties Pending Sale ………………
8
0.0%
Properties For Sale …………….……...
11
Properties For Sale …………….……...
17
54.5%
62
146.0%
47.06%
-35.3%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
25 72.73%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
MALIBU
SFR
Q4 2013
Q4 2014
% CHANGE
Median Price ……………………..…….
$2,498,750
Median Price ……………………..…….
$2,400,000
-4.0%
Average Price per Square Foot ….…
$750
Average Price per Square Foot ….…
$806
7.5%
Properties Sold ……………………….
52
Properties Sold ……………………….
45
-13.5%
Properties Pending Sale ………………
40
Properties Pending Sale ………………
50
25.0%
Properties For Sale …………….……...
271
Properties For Sale …………….……...
257
-5.2%
147
13.0%
19.46%
31.8%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
130 14.76%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
MALIBU BEACH
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$4,400,000
Median Price ……………………..…….
$4,700,000
6.8%
Average Price per Square Foot ….…
$2,319
Average Price per Square Foot ….…
$2,739
18.1%
Properties Sold ……………………….
11
Properties Sold ……………………….
9
-18.2%
Properties Pending Sale ………………
12
Properties Pending Sale ………………
11
-8.3%
Properties For Sale …………….……...
95
Properties For Sale …………….……...
85
-10.5%
140
-35.1%
12.94%
2.5%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
215 12.63%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
MARINA DEL REY
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,750,000
Median Price ……………………..…….
$932,500
-46.7%
Average Price per Square Foot ….…
$612
Average Price per Square Foot ….…
$624
2.0%
Properties Sold ……………………….
11
Properties Sold ……………………….
12
9.1%
Properties Pending Sale ………………
7
Properties Pending Sale ………………
9
28.6%
Properties For Sale …………….……...
34
Properties For Sale …………….……...
39
14.7%
65
18.3%
23.08%
12.1%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
55 20.59%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
MARINA DEL REY
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$685,500
Median Price ……………………..…….
$751,000
9.6%
Average Price per Square Foot ….…
$514
Average Price per Square Foot ….…
$546
6.2%
Properties Sold ……………………….
78
Properties Sold ……………………….
94
20.5%
Properties Pending Sale ………………
77
Properties Pending Sale ………………
75
-2.6%
Properties For Sale …………….……...
235
Properties For Sale …………….……...
180
-23.4%
71
-13.2%
41.67%
27.2%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
82 32.77%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
MID LOS ANGELES
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$465,000
Median Price ……………………..…….
$440,000
-5.4%
Average Price per Square Foot ….…
$311
Average Price per Square Foot ….…
$316
1.6%
Properties Sold ……………………….
72
Properties Sold ……………………….
103
43.1%
Properties Pending Sale ………………
80
Properties Pending Sale ………………
101
26.2%
Properties For Sale …………….……...
228
Properties For Sale …………….……...
234
2.6%
57
-5.8%
43.16%
23.0%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
61 35.09%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
MID WILSHIRE
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$633,750
Median Price ……………………..…….
$510,000
-19.5%
Average Price per Square Foot ….…
$315
Average Price per Square Foot ….…
$301
-4.4%
Properties Sold ……………………….
8
Properties Sold ……………………….
10
25.0%
Properties Pending Sale ………………
6
Properties Pending Sale ………………
17
183.3%
Properties For Sale …………….……...
36
Properties For Sale …………….……...
47
30.6%
59
59.9%
36.17%
117.0%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
37 16.67%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
PACIFIC PALISADES
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$2,490,000
Median Price ……………………..…….
$2,200,000
-11.6%
Average Price per Square Foot ….…
$895
Average Price per Square Foot ….…
$845
-5.6%
Properties Sold ……………………….
61
Properties Sold ……………………….
55
-9.8%
Properties Pending Sale ………………
54
Properties Pending Sale ………………
50
-7.4%
Properties For Sale …………….……...
179
Properties For Sale …………….……...
164
-8.4%
58
-10.4%
30.49%
1.1%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
65 30.17%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
PALMS – MAR VISTA
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$997,500
Median Price ……………………..…….
$1,175,000
17.8%
Average Price per Square Foot ….…
$598
Average Price per Square Foot ….…
$627
4.8%
Properties Sold ……………………….
92
Properties Sold ……………………….
95
3.3%
Properties Pending Sale ………………
77
Properties Pending Sale ………………
81
5.2%
Properties For Sale …………….……...
137
Properties For Sale …………….……...
135
-1.5%
60
14.7%
60.00%
6.8%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
52 56.20%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
SANTA MONICA
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,817,750
Median Price ……………………..…….
$2,912,050
20.6%
Average Price per Square Foot ….…
$885
Average Price per Square Foot ….…
$1,021
15.4%
Properties Sold ……………………….
60
Properties Sold ……………………….
66
10.0%
Properties Pending Sale ………………
43
Properties Pending Sale ………………
55
27.9%
Properties For Sale …………….……...
129
Properties For Sale …………….……...
125
-3.1%
58
9.5%
44.00%
32.0%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
53 33.33%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
SANTA MONICA
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$743,500
Median Price ……………………..…….
$925,000
24.4%
Average Price per Square Foot ….…
$661
Average Price per Square Foot ….…
$914
38.3%
Properties Sold ……………………….
104
Properties Sold ……………………….
131
26.0%
Properties Pending Sale ………………
86
Properties Pending Sale ………………
114
32.6%
Properties For Sale …………….……...
192
Properties For Sale …………….……...
236
22.9%
57
6.7%
48.31%
7.8%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
54 44.79%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
SHERMAN OAKS
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$830,000
Median Price ……………………..…….
$850,000
2.4%
Average Price per Square Foot ….…
$412
Average Price per Square Foot ….…
$451
9.5%
Properties Sold ……………………….
73
Properties Sold ……………………….
165
126.0%
Properties Pending Sale ………………
98
Properties Pending Sale ………………
143
45.9%
Properties For Sale …………….……...
292
Properties For Sale …………….……...
357
22.3%
55
-20.6%
40.06%
19.4%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
69 33.56%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
SHERMAN OAKS
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$410,000
Median Price ……………………..…….
$425,000
3.7%
Average Price per Square Foot ….…
$306
Average Price per Square Foot ….…
$312
2.0%
Properties Sold ……………………….
33
Properties Sold ……………………….
67
103.0%
Properties Pending Sale ………………
43
Properties Pending Sale ………………
72
67.4%
Properties For Sale …………….……...
109
Properties For Sale …………….……...
160
46.8%
63
-4.9%
45.00%
14.1%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
66 39.45%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
SILVER LAKE – ECHO PARK
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$826,750
Median Price ……………………..…….
$745,000
-9.9%
Average Price per Square Foot ….…
$513
Average Price per Square Foot ….…
$599
16.8%
Properties Sold ……………………….
76
Properties Sold ……………………….
83
9.2%
Properties Pending Sale ………………
63
Properties Pending Sale ………………
76
20.6%
Properties For Sale …………….……...
146
Properties For Sale …………….……...
169
15.8%
50
3.3%
44.97%
4.2%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
48 43.15%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
STUDIO CITY
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,040,500
Median Price ……………………..…….
$1,115,000
7.2%
Average Price per Square Foot ….…
$470
Average Price per Square Foot ….…
$516
9.8%
Properties Sold ……………………….
52
Properties Sold ……………………….
81
55.8%
Properties Pending Sale ………………
61
Properties Pending Sale ………………
64
4.9%
Properties For Sale …………….……...
202
Properties For Sale …………….……...
194
-4.0%
54
-18.1%
32.99%
9.2%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
66 30.20%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
STUDIO CITY
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$467,500
Median Price ……………………..…….
$546,000
16.8%
Average Price per Square Foot ….…
$347
Average Price per Square Foot ….…
$372
7.2%
Properties Sold ……………………….
24
Properties Sold ……………………….
32
33.3%
Properties Pending Sale ………………
29
Properties Pending Sale ………………
35
20.7%
Properties For Sale …………….……...
84
Properties For Sale …………….……...
101
20.2%
57
12.6%
34.65%
0.4%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
50 34.52%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
SUNSET STRIP – HOLLYWOOD HILLS WEST
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,465,000
Median Price ……………………..…….
$1,850,000
26.3%
Average Price per Square Foot ….…
$769
Average Price per Square Foot ….…
$883
14.8%
Properties Sold ……………………….
91
Properties Sold ……………………….
103
13.2%
Properties Pending Sale ………………
83
Properties Pending Sale ………………
110
32.5%
Properties For Sale …………….……...
391
Properties For Sale …………….……...
407
4.1%
Days on Market (Pending Sale) ….…..
76
-2.1%
Percent Under Contract ………….……
27.03%
27.3%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
78 21.23%
SUNSET STRIP – HOLLYWOOD HILLS WEST
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$500,000
Median Price ……………………..…….
$480,000
-4.0%
Average Price per Square Foot ….…
$459
Average Price per Square Foot ….…
$540
17.6%
Properties Sold ……………………….
25
Properties Sold ……………………….
20
-20.0%
Properties Pending Sale ………………
25
Properties Pending Sale ………………
19
-24.0%
Properties For Sale …………….……...
64
Properties For Sale …………….……...
51
-20.3%
67
16.0%
37.25%
-4.6%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
58 39.06%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
TOPANGA
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$975,000
Median Price ……………………..…….
$967,000
-0.8%
Average Price per Square Foot ….…
$514
Average Price per Square Foot ….…
$509
-1.0%
Properties Sold ……………………….
20
Properties Sold ……………………….
22
10.0%
Properties Pending Sale ………………
20
Properties Pending Sale ………………
26
30.0%
Properties For Sale …………….……...
85
Properties For Sale …………….……...
75
-11.8%
110
36.8%
34.67%
47.3%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
80 23.53%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
VENICE
SFR
Q4 2013
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,350,000
Median Price ……………………..…….
$1,600,000
18.5%
Average Price per Square Foot ….…
$908
Average Price per Square Foot ….…
$984
8.4%
Properties Sold ……………………….
62
Properties Sold ……………………….
55
-11.3%
Properties Pending Sale ………………
55
Properties Pending Sale ………………
45
-18.2%
Properties For Sale …………….……...
104
Properties For Sale …………….……...
107
2.9%
62
-4.4%
42.06%
-20.5%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
65 52.88%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
VENICE
CONDO
Q4 2013
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,012,500
Median Price ……………………..…….
$917,500
-9.4%
Average Price per Square Foot ….…
$609
Average Price per Square Foot ….…
$679
11.5%
Properties Sold ……………………….
16
Properties Sold ……………………….
8
-50.0%
Properties Pending Sale ………………
9
Properties Pending Sale ………………
11
22.2%
Properties For Sale …………….……...
22
Properties For Sale …………….……...
41
86.4%
90
46.1%
26.83%
-34.4%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
62 40.91%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
WEST HOLLYWOOD
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,200,000
Median Price ……………………..…….
$1,199,000
-0.1%
Average Price per Square Foot ….…
$680
Average Price per Square Foot ….…
$851
25.1%
Properties Sold ……………………….
29
Properties Sold ……………………….
31
6.9%
Properties Pending Sale ………………
33
Properties Pending Sale ………………
34
3.0%
Properties For Sale …………….……...
85
Properties For Sale …………….……...
87
2.4%
59
-13.1%
39.08%
0.7%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
68 38.82%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
WEST HOLLYWOOD
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$638,000
Median Price ……………………..…….
$590,000
-7.5%
Average Price per Square Foot ….…
$543
Average Price per Square Foot ….…
$548
0.9%
Properties Sold ……………………….
92
Properties Sold ……………………….
85
-7.6%
Properties Pending Sale ………………
75
Properties Pending Sale ………………
81
8.0%
Properties For Sale …………….……...
229
Properties For Sale …………….……...
225
-1.7%
58
-13.0%
36.00%
9.9%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
67 32.75%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
WEST LOS ANGELES
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$789,500
Median Price ……………………..…….
$868,000
9.9%
Average Price per Square Foot ….…
$561
Average Price per Square Foot ….…
$643
14.6%
Properties Sold ……………………….
24
Properties Sold ……………………….
31
29.2%
Properties Pending Sale ………………
16
Properties Pending Sale ………………
28
75.0%
Properties For Sale …………….……...
37
Properties For Sale …………….……...
63
70.3%
49
-25.3%
44.44%
2.8%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
65 43.24%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
WESTCHESTER
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$760,000
Median Price ……………………..…….
$829,500
9.1%
Average Price per Square Foot ….…
$472
Average Price per Square Foot ….…
$539
14.2%
Properties Sold ……………………….
78
Properties Sold ……………………….
76
-2.6%
Properties Pending Sale ………………
65
Properties Pending Sale ………………
64
-1.5%
Properties For Sale …………….……...
101
Properties For Sale …………….……...
117
15.8%
51
9.1%
54.70%
-15.0%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
46 64.36%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
WESTCHESTER
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$419,000
Median Price ……………………..…….
$399,000
-4.8%
Average Price per Square Foot ….…
$345
Average Price per Square Foot ….…
$344
-0.3%
Properties Sold ……………………….
9
Properties Sold ……………………….
9
0.00%
Properties Pending Sale ………………
8
Properties Pending Sale ………………
9
12.5%
Properties For Sale …………….……...
25
Properties For Sale …………….……...
15
-40.0%
48
-53.5%
60.00%
87.5%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
104 32.00%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
WESTWOOD – CENTURY CITY
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$1,450,000
Median Price ……………………..…….
$1,596,250
10.1%
Average Price per Square Foot ….…
$680
Average Price per Square Foot ….…
$794
16.8%
Properties Sold ……………………….
51
Properties Sold ……………………….
36
-29.4%
Properties Pending Sale ………………
46
Properties Pending Sale ………………
25
-45.7%
Properties For Sale …………….……...
98
Properties For Sale …………….……...
80
-18.4%
49
6.7%
31.25%
-33.4%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
46 46.94%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
WESTWOOD – CENTURY CITY
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$722,500
Median Price ……………………..…….
$712,500
-1.4%
Average Price per Square Foot ….…
$663
Average Price per Square Foot ….…
$610
-8.0%
Properties Sold ……………………….
128
Properties Sold ……………………….
128
0.0%
Properties Pending Sale ………………
106
Properties Pending Sale ………………
124
17.0%
Properties For Sale …………….……...
425
Properties For Sale …………….……...
400
-5.9%
69
-15.6%
31.00%
24.3%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
82 24.94%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
WOODLAND HILLS
Q4 2013
SFR
Q4 2014
% CHANGE
Median Price ……………………..…….
$655,000
Median Price ……………………..…….
$688,800
5.2%
Average Price per Square Foot ….…
$307
Average Price per Square Foot ….…
$325
5.9%
Properties Sold ……………………….
53
Properties Sold ……………………….
161
203.8%
Properties Pending Sale ………………
85
Properties Pending Sale ………………
150
76.5%
Properties For Sale …………….……...
284
Properties For Sale …………….……...
456
60.6%
69
0.9%
32.89%
9.9%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
68 29.93%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
WOODLAND HILLS
Q4 2013
CONDO
Q4 2014
% CHANGE
Median Price ……………………..…….
$376,000
Median Price ……………………..…….
$370,000
-1.6%
Average Price per Square Foot ….…
$301
Average Price per Square Foot ….…
$330
9.6%
Properties Sold ……………………….
20
Properties Sold ……………………….
35
75.0%
Properties Pending Sale ………………
22
Properties Pending Sale ………………
45
104.50%
Properties For Sale …………….……...
61
Properties For Sale …………….……...
96
57.4%
66
26.7%
46.88%
30.0%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
52 36.07%
Days on Market (Pending Sale) ….….. Percent Under Contract ………….……
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.