WHAT IS A MARKET WITHIN A MARKET? Just as the weather is different from Los Feliz to Santa Monica 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 thought 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 as umbrella that day would you?
WHY THIS BENEFITS YOU – OUR CLIENT Our extensive experience & knowledge had lead 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 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 – HOMBLY HILLS
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$999,000
Median Price ……………………..…….
$864,750
-13.4%
Average Price per Square Foot ….…
$536
Average Price per Square Foot ….…
$539
0.6%
Properties Sold ……………………….
11
Properties Sold ……………………….
10
- 9.1%
Properties Pending Sale ………………
5
Properties Pending Sale ………………
11
120%
Properties For Sale …………….……...
91
Properties For Sale …………….……...
65
- 28.6%
Days on Market (Pending Sale) ….…..
62
Days on Market (Pending Sale) ….…..
46
-25.5%
Month’s supply of Inventory……….…
14.2
Month’s supply of Inventory……….…
3.5
-75.4%
Percent Under Contract ………….……
5.49%
Percent Under Contract ………….……
16.92%
208.2%
BEVERLY CENTER – MIRCLE MILE
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$999,000
Median Price ……………………..…….
$869,500
- 13%
Average Price per Square Foot ….…
$536
Average Price per Square Foot ….…
$543
1.3%
Properties Sold ……………………….
11
Properties Sold ……………………….
11
0%
Properties Pending Sale ………………
5
Properties Pending Sale ………………
11
120%
Properties For Sale …………….……...
91
Properties For Sale …………….……...
66
- 27.5%
Days on Market (Pending Sale) ….…..
61.6
Days on Market (Pending Sale) ….…..
45.9
-25.5
Month’s supply of Inventory……….…
14.2
Month’s supply of Inventory……….…
3.5
- 75%
Percent Under Contract ………….……
16.7
Percent Under Contract ………….……
5.5
203.3%
BEVERLY CENTER – MIRCLE MILE
CONDO
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$608,800
Median Price ……………………..…….
$610,000
.2%
Average Price per Square Foot ….…
$393
Average Price per Square Foot ….…
$422
7.4%
Properties Sold ……………………….
11
Properties Sold ……………………….
3
-72.7%
Properties Pending Sale ………………
7
Properties Pending Sale ………………
4
-42.9%
Properties For Sale …………….……...
62
Properties For Sale …………….……...
28
- 54.8
Days on Market (Pending Sale) ….…..
113.6
Days on Market (Pending Sale) ….…..
81.5
-28.2%
Month’s supply of Inventory……….…
6.6
Month’s supply of Inventory……….…
3.8
-42.9
Percent Under Contract ………….……
11.3
Percent Under Contract ………….……
14.3%
26.5%
BEVERLY HILLS
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$3,040,000
Median Price ……………………..…….
$2,080,000
-25.0%
Average Price per Square Foot ….…
$936
Average Price per Square Foot ….…
$865
-7.6%
Properties Sold ……………………….
18
Properties Sold ……………………….
14
- 22.2%
Properties Pending Sale ………………
12
Properties Pending Sale ………………
13
8.3%
Properties For Sale …………….……...
156
Properties For Sale …………….……...
112
- 28.2%
Days on Market (Pending Sale) ….…..
45
Days on Market (Pending Sale) ….…..
57
27.4%
Month’s supply of Inventory……….…
9.7
Month’s supply of Inventory……….…
6.0
-38.1%
Percent Under Contract ………….……
7.69%
Percent Under Contract ………….……
11.61%
51.0%
BEVERLY HILLS
CONDO
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$725,000
Median Price ……………………..…….
$765,000
5.5%
Average Price per Square Foot ….…
$409
Average Price per Square Foot ….…
$500
22.2%
Properties Sold ……………………….
6
Properties Sold ……………………….
6
0.0%
Properties Pending Sale ………………
6
Properties Pending Sale ………………
12
100%
Properties For Sale …………….……...
108
Properties For Sale …………….……...
78
- 27.8%
Days on Market (Pending Sale) ….…..
118
Days on Market (Pending Sale) ….…..
41.7
-64.6%
Month’s supply of Inventory……….…
14.3
Month’s supply of Inventory……….…
3.9
-72.7%
Percent Under Contract ………….……
5.50%
Percent Under Contract ………….……
14.1%
153.8%
BEVERLY HILLS P.O.
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$2,190,768
Median Price ……………………..…….
$2,048,750
-6.5%
Average Price per Square Foot ….…
$676
Average Price per Square Foot ….…
$560
-17.2%
Properties Sold ……………………….
12
Properties Sold ……………………….
8
- 33.3%
Properties Pending Sale ………………
6
Properties Pending Sale ………………
14
133.3%
Properties For Sale …………….……...
152
Properties For Sale …………….……...
146
-3.9%
Days on Market (Pending Sale) ….…..
92
Days on Market (Pending Sale) ….…..
111
20.2%
Month’s supply of Inventory……….…
20.8
Month’s supply of Inventory……….…
7.0
-66.3%
Percent Under Contract ………….……
3.95%
Percent Under Contract ………….……
9.59%
-142.8%
BEVERLYWOOD
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$732,250
Median Price ……………………..…….
$755,000
3.1%
Average Price per Square Foot ….…
$432
Average Price per Square Foot ….…
$440
1.9%
Properties Sold ……………………….
16
Properties Sold ……………………….
8
- 50.0%
Properties Pending Sale ………………
8
Properties Pending Sale ………………
9
12.5%
Properties For Sale …………….……...
66
Properties For Sale …………….……...
62
- 6.1%
Days on Market (Pending Sale) ….…..
75
Days on Market (Pending Sale) ….…..
41
-45.1%
Month’s supply of Inventory……….…
6
Month’s supply of Inventory……….…
4.0
-33.3%
Percent Under Contract ………….……
12.12%
Percent Under Contract ………….……
14.52%
19.8%
BRENTWOOD
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$1,570,000
Median Price ……………………..…….
$2,020,000
28.7%
Average Price per Square Foot ….…
$677
Average Price per Square Foot ….…
$538
- 20.5%
Properties Sold ……………………….
17
Properties Sold ……………………….
9
- 47.1%
Properties Pending Sale ………………
16
Properties Pending Sale ………………
6
- 62.5%
Properties For Sale …………….……...
158
Properties For Sale …………….……...
124
- 21.5
Days on Market (Pending Sale) ….…..
88.5
Days on Market (Pending Sale) ….…..
92.7
4.7%
Month’s supply of Inventory……….…
7.3
Month’s supply of Inventory……….…
14.5
Percent Under Contract ………….……
10.1%
Percent Under Contract ………….……
4.9%
98.3% - 52.2%
BRENTWOOD
CONDO
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$632,500
Median Price ……………………..…….
$515,000
-18.6%
Average Price per Square Foot ….…
$436
Average Price per Square Foot ….…
$440
0.9%
Properties Sold ……………………….
14
Properties Sold ……………………….
9
- 35.7%
Properties Pending Sale ………………
6
Properties Pending Sale ………………
8
33.3%
Properties For Sale …………….……...
142
Properties For Sale …………….……...
70
- 50.7%
Days on Market (Pending Sale) ….…..
118
Days on Market (Pending Sale) ….…..
66
-44.4%
Month’s supply of Inventory……….…
19.7
Month’s supply of Inventory……….…
5.6
-71.6%
Percent Under Contract ………….……
4.23%
Percent Under Contract ………….……
11.43%
170.2%
CHEVIOT HILLS-RANCH PARK
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$1,425,500
Median Price ……………………..…….
$1,442,000
1.2%
Average Price per Square Foot ….…
$462
Average Price per Square Foot ….…
$504
9.1%
Properties Sold ……………………….
6
Properties Sold ……………………….
5
- 16.7%
Properties Pending Sale ………………
5
Properties Pending Sale ………………
2
-60.0%
Properties For Sale …………….……...
35
Properties For Sale …………….……...
24
- 31.4%
Days on Market (Pending Sale) ….…..
55
Days on Market (Pending Sale) ….…..
104
89.1%
Month’s supply of Inventory……….…
4.6
Month’s supply of Inventory……….…
8.0
73.9%
Percent Under Contract ………….……
14.29%
Percent Under Contract ………….……
8.33%
-41.7%
CULVER CITY
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$697,000
Median Price ……………………..…….
$672,500
-3.5%
Average Price per Square Foot ….…
$430
Average Price per Square Foot ….…
$424
-1.4%
Properties Sold ……………………….
14
Properties Sold ……………………….
10
- 28.6%
Properties Pending Sale ………………
5
Properties Pending Sale ………………
12
140.0%
Properties For Sale …………….……...
54
Properties For Sale …………….……...
54
0.0%
Days on Market (Pending Sale) ….…..
47
Days on Market (Pending Sale) ….…..
66
40.1%
Month’s supply of Inventory……….…
8.4
Month’s supply of Inventory……….…
2.5
-70.2%
Percent Under Contract ………….……
9.62%
Percent Under Contract ………….……
22.22%
140.0%
CULVER CITY
CONDO
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$300,000
Median Price ……………………..…….
$275,000
-8.3%
Average Price per Square Foot ….…
$348
Average Price per Square Foot ….…
$275
- 21%
Properties Sold ……………………….
11
Properties Sold ……………………….
19
72.7%
Properties Pending Sale ………………
8
Properties Pending Sale ………………
7
- 12.5%
Properties For Sale …………….……...
83
Properties For Sale …………….……...
54
- 34.9%
Days on Market (Pending Sale) ….…..
95.5
Days on Market (Pending Sale) ….…..
90.1
Month’s supply of Inventory……….…
8
Month’s supply of Inventory……….…
6
Percent Under Contract ………….……
9.6%
Percent Under Contract ………….……
12.9%
- 5.6% - 25% 34.5%
HANCOCK PARK-WILSHIRE
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$963,250
Median Price ……………………..…….
$1,087,000
12.8%
Average Price per Square Foot ….…
$442
Average Price per Square Foot ….…
$469
6.1%
Properties Sold ……………………….
16
Properties Sold ……………………….
14
- 12.5%
Properties Pending Sale ………………
9
Properties Pending Sale ………………
11
22.2%
Properties For Sale …………….……...
127
Properties For Sale …………….……...
116
-8.7%
Days on Market (Pending Sale) ….…..
74
Days on Market (Pending Sale) ….…..
35
-52.6%
Month’s supply of Inventory……….…
10.9
Month’s supply of Inventory……….…
7.1
-34.9%
Percent Under Contract ………….……
7.09%
Percent Under Contract ………….……
9.48%
33.7%
HOLLYWOOD
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$655,525
Median Price ……………………..…….
$350,000
- 46.5%
Average Price per Square Foot ….…
$386
Average Price per Square Foot ….…
$360
6.7%
Properties Sold ……………………….
1
Properties Sold ……………………….
5
400%
Properties Pending Sale ………………
2
Properties Pending Sale ………………
5
150%
Properties For Sale …………….……...
20
Properties For Sale …………….……...
21
5%
Days on Market (Pending Sale) ….…..
44.5
Days on Market (Pending Sale) ….…..
54.2
21.8%
Month’s supply of Inventory……….…
5
Month’s supply of Inventory……….…
2.6
- 48%
Percent Under Contract ………….……
10
Percent Under Contract ………….……
23.8
138.1%
HOLLYWOOD
CONDO
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$425,000
Median Price ……………………..…….
$855,000
101.2%
Average Price per Square Foot ….…
$350
Average Price per Square Foot ….…
$457
30.6%
Properties Sold ……………………….
9
Properties Sold ……………………….
3
- 66.7%
Properties Pending Sale ………………
2
Properties Pending Sale ………………
3
50.0%
Properties For Sale …………….……...
94
Properties For Sale …………….……...
56
-40.4%
Days on Market (Pending Sale) ….…..
138
Days on Market (Pending Sale) ….…..
169
22.9%
Month’s supply of Inventory……….…
39.9
Month’s supply of Inventory……….…
13.7
-64.9%
Percent Under Contract ………….……
2.13%
Percent Under Contract ………….……
5.36%
151.6%
HOLLYWOOD HILLS EAST
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$860,000
Median Price ……………………..…….
$700,000
-18.6%
Average Price per Square Foot ….…
$372
Average Price per Square Foot ….…
$431
15.9%
Properties Sold ……………………….
8
Properties Sold ……………………….
11
37.5%
Properties Pending Sale ………………
10
Properties Pending Sale ………………
11
10.0%
Properties For Sale …………….……...
86
Properties For Sale …………….……...
68
-20.9%
Days on Market (Pending Sale) ….…..
54
Days on Market (Pending Sale) ….…..
52
-4.3%
Month’s supply of Inventory……….…
6.5
Month’s supply of Inventory……….…
3.4
-47.7%
Percent Under Contract ………….……
11.63%
Percent Under Contract ………….……
16.18%
39.1%
LOS FELIZ
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$810,000
Median Price ……………………..…….
$859,000
6.0%
Average Price per Square Foot ….…
$395
Average Price per Square Foot ….…
$441
11.6%
Properties Sold ……………………….
12
Properties Sold ……………………….
15
25.0%
Properties Pending Sale ………………
10
Properties Pending Sale ………………
11
10.0%
Properties For Sale …………….……...
90
Properties For Sale …………….……...
81
-10.0%
Days on Market (Pending Sale) ….…..
52
Days on Market (Pending Sale) ….…..
51
-1.5%
Month’s supply of Inventory……….…
6.6
Month’s supply of Inventory……….…
4.9
-25.8%
Percent Under Contract ………….……
11.11%
Percent Under Contract ………….……
13.58%
22.2%
LOS FELIZ
CONDO
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$447,500
Median Price ……………………..…….
$485,000
8.4%
Average Price per Square Foot ….…
$381
Average Price per Square Foot ….…
$388
1.8%
Properties Sold ……………………….
4
Properties Sold ……………………….
5
25.0%
Properties Pending Sale ………………
3
Properties Pending Sale ………………
1
-66.7%
Properties For Sale …………….……...
19
Properties For Sale …………….……...
12
- 36.8%
Days on Market (Pending Sale) ….…..
55.7
Days on Market (Pending Sale) ….…..
41
- 26.3
Month’s supply of Inventory……….…
4.7
Month’s supply of Inventory……….…
9
92.9%
Percent Under Contract ………….……
15.79%
Percent Under Contract ………….……
8.33%
- 47.2%
MALIBU
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$1,605,000
Median Price ……………………..…….
$2,450,000
52.6%
Average Price per Square Foot ….…
$653
Average Price per Square Foot ….…
$836
28.0%
Properties Sold ……………………….
8
Properties Sold ……………………….
16
100%
Properties Pending Sale ………………
5
Properties Pending Sale ………………
13
160%
Properties For Sale …………….……...
261
Properties For Sale …………….……...
217
-16.9%
Days on Market (Pending Sale) ….…..
198
Days on Market (Pending Sale) ….…..
166
-16%
Month’s supply of Inventory……….…
43.3
Month’s supply of Inventory……….…
12
-72.3%
Percent Under Contract ………….……
1.92%
Percent Under Contract ………….……
5.99%
212.0%
MALIBU BEACH SFR DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$1,605,000
Median Price ……………………..…….
$2,275,000
41.7%
Average Price per Square Foot ….…
$653
Average Price per Square Foot ….…
$842
28.9%
Properties Sold ……………………….
8
Properties Sold ……………………….
18
125%
Properties Pending Sale ………………
5
Properties Pending Sale ………………
13
160%
Properties For Sale …………….……...
261
Properties For Sale …………….……...
218
-16.5%
Days on Market (Pending Sale) ….…..
198
Days on Market (Pending Sale) ….…..
166
-16%
Month’s supply of Inventory……….…
43.4
Month’s supply of Inventory……….…
12.1
-72.1%
Percent Under Contract ………….……
1.92%
Percent Under Contract ………….……
5.96%
210.4%
MARINA DEL REY
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$1,260,000
Median Price ……………………..…….
$-
-100%
Average Price per Square Foot ….…
$492
Average Price per Square Foot ….…
$0
-100%
Properties Sold ……………………….
5
Properties Sold ……………………….
-
-100%
Properties Pending Sale ………………
2
Properties Pending Sale ………………
3
50%
Properties For Sale …………….……...
30
Properties For Sale …………….……...
27
-10%
Days on Market (Pending Sale) ….…..
59
Days on Market (Pending Sale) ….…..
126
-115.4%
Month’s supply of Inventory……….…
11.5
Month’s supply of Inventory……….…
5.7
-50.4%
Percent Under Contract ………….……
6.67%
Percent Under Contract ………….……
11.54%
73.0%
MARINA DEL REY
CONDO
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$595,000
Median Price ……………………..…….
$ 523,600
-12%
Average Price per Square Foot ….…
$411
Average Price per Square Foot ….…
$354
-13.9%
Properties Sold ……………………….
23
Properties Sold ……………………….
15
-34.8%
Properties Pending Sale ………………
8
Properties Pending Sale ………………
19
137.5%
Properties For Sale …………….……...
224
Properties For Sale …………….……...
158
-29.5%
Days on Market (Pending Sale) ….…..
70
Days on Market (Pending Sale) ….…..
89
26.5%
Month’s supply of Inventory……….…
10.3
Month’s supply of Inventory……….…
5.8
-43.7%
Percent Under Contract ………….……
8.04%
Percent Under Contract ………….……
12.03%
49.6%
MID LOS ANGELES
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$310,000
Median Price ……………………..…….
$ 284,975
-8.1%
Average Price per Square Foot ….…
$223
Average Price per Square Foot ….…
$204
-8.5%
Properties Sold ……………………….
17
Properties Sold ……………………….
12
-29.4%
Properties Pending Sale ………………
9
Properties Pending Sale ………………
10
11.1%
Properties For Sale …………….……...
138
Properties For Sale …………….……...
82
-40.6%
Days on Market (Pending Sale) ….…..
49
Days on Market (Pending Sale) ….…..
40
-18.1%
Month’s supply of Inventory……….…
12.3
Month’s supply of Inventory……….…
5.5
-55.3%
Percent Under Contract ………….……
6.52%
Percent Under Contract ………….……
12.20%
87.1%
MID WILSHIRE
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$440,000
Median Price ……………………..…….
$ 398,000
-9.5%
Average Price per Square Foot ….…
$204
Average Price per Square Foot ….…
$220
7.8%
Properties Sold ……………………….
6
Properties Sold ……………………….
4
-33.3%
Properties Pending Sale ………………
3
Properties Pending Sale ………………
2
-33.3%
Properties For Sale …………….……...
42
Properties For Sale …………….……...
17
-59.5%
Days on Market (Pending Sale) ….…..
81
Days on Market (Pending Sale) ….…..
45
-45.3%
Month’s supply of Inventory……….…
11.3
Month’s supply of Inventory……….…
5.0
-55.8%
Percent Under Contract ………….……
7.14%
Percent Under Contract ………….……
11.76%
64.7%
PACIFIC PALISADES
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$1,567,500
Median Price ……………………..…….
$1,284,250
-18.1%
Average Price per Square Foot ….…
$707
Average Price per Square Foot ….…
$674
- 4.7%
Properties Sold ……………………….
20
Properties Sold ……………………….
19
-5.0%
Properties Pending Sale ………………
14
Properties Pending Sale ………………
15
7.1%
Properties For Sale …………….……...
176
Properties For Sale …………….……...
126
-28.4%
Days on Market (Pending Sale) ….…..
129
Days on Market (Pending Sale) ….…..
85
-34.2%
Month’s supply of Inventory……….…
9.5
Month’s supply of Inventory……….…
5.3
-44.2%
Percent Under Contract ………….……
7.95%
Percent Under Contract ………….……
11.90%
49.7%
PALMS – MAR VISTA
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$662,500
Median Price ……………………..…….
$760,000
14.7%
Average Price per Square Foot ….…
$480
Average Price per Square Foot ….…
$480
0.0%
Properties Sold ……………………….
27
Properties Sold ……………………….
17
-37.0%
Properties Pending Sale ………………
11
Properties Pending Sale ………………
20
81.8%
Properties For Sale …………….……...
100
Properties For Sale …………….……...
88
-12.0%
Days on Market (Pending Sale) ….…..
67
Days on Market (Pending Sale) ….…..
76
-13.2%
Month’s supply of Inventory……….…
6.8
Month’s supply of Inventory……….…
2.4
-64.7%
Percent Under Contract ………….……
11.00%
Percent Under Contract ………….……
22.73%
106.6%
SANTA MONICA
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$2,275,000
Median Price ……………………..…….
$1,709,000
-24.9%
Average Price per Square Foot ….…
$820
Average Price per Square Foot ….…
$782
- 4.6%
Properties Sold ……………………….
12
Properties Sold ……………………….
18
50.0%
Properties Pending Sale ………………
18
Properties Pending Sale ………………
15
-16.7%
Properties For Sale …………….……...
125
Properties For Sale …………….……...
103
-17.6%
Days on Market (Pending Sale) ….…..
116
Days on Market (Pending Sale) ….…..
92
-20.8%
Month’s supply of Inventory……….…
5.1
Month’s supply of Inventory……….…
4.1
-19.6%
Percent Under Contract ………….……
14.40%
Percent Under Contract ………….……
14.56%
1.1%
SANTA MONICA
CONDO
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$803,250
Median Price ……………………..…….
$665,000
-17.2%
Average Price per Square Foot ….…
$601
Average Price per Square Foot ….…
$522
-13.1%
Properties Sold ……………………….
34
Properties Sold ……………………….
25
-26.5%
Properties Pending Sale ………………
29
Properties Pending Sale ………………
17
-41.4%
Properties For Sale …………….……...
241
Properties For Sale …………….……...
149
-38.2%
Days on Market (Pending Sale) ….…..
75
Days on Market (Pending Sale) ….…..
81
8.2%
Month’s supply of Inventory……….…
5.9
Month’s supply of Inventory……….…
6.0
1.7%
Percent Under Contract ………….……
12.03%
Percent Under Contract ………….……
11.41%
-5.2%
SILVER LAKE – ECHO PARK
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$675,000
Median Price ……………………..…….
$550,000
-18.5%
Average Price per Square Foot ….…
$462
Average Price per Square Foot ….…
$384
-16.9%
Properties Sold ……………………….
24
Properties Sold ……………………….
21
-12.5%
Properties Pending Sale ………………
14
Properties Pending Sale ………………
13
-7.1%
Properties For Sale …………….……...
99
Properties For Sale …………….……...
76
-23.2%
Days on Market (Pending Sale) ….…..
58
Days on Market (Pending Sale) ….…..
40
-31.3%
Month’s supply of Inventory……….…
5.2
Month’s supply of Inventory……….…
4.3
-17.3%
Percent Under Contract ………….……
14.14%
Percent Under Contract ………….……
17.11%
21%
STUDIO CITY
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$840,000
Median Price ……………………..…….
$915,000
8.9%
Average Price per Square Foot ….…
$439
Average Price per Square Foot ….…
$415
- 5.4%
Properties Sold ……………………….
7
Properties Sold ……………………….
13
85.7%
Properties Pending Sale ………………
7
Properties Pending Sale ………………
5
- 28.6%
Properties For Sale …………….……...
82
Properties For Sale …………….……...
62
- 24%
Days on Market (Pending Sale) ….…..
103
Days on Market (Pending Sale) ….…..
118
14.5%
Month’s supply of Inventory……….…
9.6
Month’s supply of Inventory……….…
9.8
2.1%
Percent Under Contract ………….……
8.54%
Percent Under Contract ………….……
8.06%
- 5.5%
STUDIO CITY
CONDO
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$494,500
Median Price ……………………..…….
$670,500
35.6%
Average Price per Square Foot ….…
$339
Average Price per Square Foot ….…
$343
1.2%
Properties Sold ……………………….
4
Properties Sold ……………………….
2
- 50.0%
Properties Pending Sale ………………
2
Properties Pending Sale ………………
2
0.0%
Properties For Sale …………….……...
39
Properties For Sale …………….……...
16
- 27.5%
Days on Market (Pending Sale) ….…..
139
Days on Market (Pending Sale) ….…..
25
- 81.9%
Month’s supply of Inventory……….…
12.5
Month’s supply of Inventory……….…
5.0
- 60.0%
Percent Under Contract ………….……
5.13%
Percent Under Contract ………….……
12.50%
143.8%
SUNSET STRIP – HOLLYWOOD HILLS WEST
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$1,225,000
Median Price ……………………..…….
$1,470,000
20%
Average Price per Square Foot ….…
$521
Average Price per Square Foot ….…
$550
5.6%
Properties Sold ……………………….
25
Properties Sold ……………………….
28
12%
Properties Pending Sale ………………
18
Properties Pending Sale ………………
20
11.1%
Properties For Sale …………….……...
345
Properties For Sale …………….……...
250
-27.5%
Days on Market (Pending Sale) ….…..
88
Days on Market (Pending Sale) ….…..
71
-18.5%
Month’s supply of Inventory……….…
15.2
Month’s supply of Inventory……….…
8.6
-43.4%
Percent Under Contract ………….……
5.22%
Percent Under Contract ………….……
8.00%
53.3%
SUNSET STRIP – HOLLYWOOD HILLS WEST
CONDO
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$386,000
Median Price ……………………..…….
$316,725
-17.9%
Average Price per Square Foot ….…
$328
Average Price per Square Foot ….…
$607
85.1%
Properties Sold ……………………….
4
Properties Sold ……………………….
4
0.0%
Properties Pending Sale ………………
6
Properties Pending Sale ………………
3
-50.0%
Properties For Sale …………….……...
57
Properties For Sale …………….……...
32
-43.9%
Days on Market (Pending Sale) ….…..
68
Days on Market (Pending Sale) ….…..
66
-3.4%
Month’s supply of Inventory……….…
7
Month’s supply of Inventory……….…
6.0
-14.3%
Percent Under Contract ………….……
10.53%
Percent Under Contract ………….……
9.38%
-10.9%
VENICE
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$870,000
Median Price ……………………..…….
$1,145,000
31.6%
Average Price per Square Foot ….…
$622
Average Price per Square Foot ….…
$661
6.3%
Properties Sold ……………………….
9
Properties Sold ……………………….
15
66.7%
Properties Pending Sale ………………
7
Properties Pending Sale ………………
7
0.0%
Properties For Sale …………….……...
129
Properties For Sale …………….……...
85
-34.1%
Days on Market (Pending Sale) ….…..
68
Days on Market (Pending Sale) ….…..
23
-65.9%
Month’s supply of Inventory……….…
13.6
Month’s supply of Inventory……….…
7.7
-43.4%
Percent Under Contract ………….……
5.43%
Percent Under Contract ………….……
8.24%
51.7%
WEST HOLLYWOOD
CONDO
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$540,000
Median Price ……………………..…….
$410,000
-24.1%
Average Price per Square Foot ….…
$421
Average Price per Square Foot ….…
$377
-10.5%
Properties Sold ……………………….
31
Properties Sold ……………………….
26
-16.1%
Properties Pending Sale ………………
17
Properties Pending Sale ………………
28
64.7%
Properties For Sale …………….……...
263
Properties For Sale …………….……...
166
-36.9%
Days on Market (Pending Sale) ….…..
97
Days on Market (Pending Sale) ….…..
73
-24.2%
Month’s supply of Inventory……….…
11.9
Month’s supply of Inventory……….…
3.5
-70.6%
Percent Under Contract ………….……
6.46%
Percent Under Contract ………….……
16.87%
161.1%
WEST LOS ANGELES
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$732,000
Median Price ……………………..…….
$570,000
-22.1%
Average Price per Square Foot ….…
$473
Average Price per Square Foot ….…
$417
-11.8%
Properties Sold ……………………….
3
Properties Sold ……………………….
7
133.3%
Properties Pending Sale ………………
4
Properties Pending Sale ………………
4
0%
Properties For Sale …………….……...
39
Properties For Sale …………….……...
25
-35.9%
Days on Market (Pending Sale) ….…..
57
Days on Market (Pending Sale) ….…..
51
-11.2%
Month’s supply of Inventory……….…
7.8
Month’s supply of Inventory……….…
3.8
-51.3%
Percent Under Contract ………….……
10.26%
Percent Under Contract ………….……
16.00%
55.9%
WESTWOOD – CENTURY CITY
SFR
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$1,312,000
Median Price ……………………..…….
$1,680,300
28.0%
Average Price per Square Foot ….…
$542
Average Price per Square Foot ….…
$593
9.4%
Properties Sold ……………………….
18
Properties Sold ……………………….
16
-11.1%
Properties Pending Sale ………………
6
Properties Pending Sale ………………
11
83.3%
Properties For Sale …………….……...
69
Properties For Sale …………….……...
61
-11.6%
Days on Market (Pending Sale) ….…..
105
Days on Market (Pending Sale) ….…..
40
-62.0%
Month’s supply of Inventory……….…
8.7
Month’s supply of Inventory……….…
2.8
-67.8%
Percent Under Contract ………….……
8.70%
Percent Under Contract ………….……
18.03%
107.2%
WESTWOOD – CENTURY CITY
CONDO
DEC. 2010
DEC. 2011 % CHANGE
Median Price ……………………..…….
$592,500
Median Price ……………………..…….
$585,500
-4.6%
Average Price per Square Foot ….…
$739
Average Price per Square Foot ….…
$524
-29.1%
Properties Sold ……………………….
48
Properties Sold ……………………….
36
-25%
Properties Pending Sale ………………
27
Properties Pending Sale ………………
32
18.5%
Properties For Sale …………….……...
409
Properties For Sale …………….……...
352
-13.9%
Days on Market (Pending Sale) ….…..
75
Days on Market (Pending Sale) ….…..
73
-2.5%
Month’s supply of Inventory……….…
11.7
Month’s supply of Inventory……….…
7.7
-34.2%
Percent Under Contract ………….……
6.60%
Percent Under Contract ………….……
9.09%
37.7%
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 Regional Marketing Director, Michael Lewis. 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. For More Information, Contact: Michael Lewis Regional Marketing Director Keller Williams Realty 11812 San Vicente Blvd. Suite 100 Los Angeles, CA 90049 m.lewis@kw.com