Alison Clay-Duboff Westside Market Intelligence Report

Page 1

The Select Westside+ Market Intelligence Report Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the Los Angeles real estate market. This report covers Santa Monica, Culver City, Mar Vista, Marina Del Rey, Playa Del Rey Playa Vista, Westchester, Venice, West Hollywood, Inglewood, Sherman Oaks and Pacific Palisades.

ESTATE PR



725 Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International Children’s Miracle Network of Hospitals Supporter #27 RIS Media Top 500 Power Broker BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212 Phone: 310.205.0050 WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 Phone: 310.202.8141 SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401 Phone: 310.264.2225 MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 Phone: 310.577.5300 EL SEGUNDO 402 Main Street El Segundo, CA 90245 Phone: 310.322.1425 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 Phone: 310.376.2225 MANHATTAN BEACH DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 Phone: 310.937.5700

SOUTH BAY 23740 Hawthorne Blvd. 2nd Floor Torrance, CA 90505 Phone: 310.378.9889 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 Phone: 310.378.7747 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Phone: 310.378.9494 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732 Phone: 310.831.0150 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Phone: 310.831.0222 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 Phone: 310.544.9999

HERMOSA BEACH 2601 Pacific Coast Hwy. #101 Hermosa Beach, CA 90254 Phone: 310.937.3200

Photography courtesy of Brian Holm | AvenueEye.com | 424.262.7723


ESTATE PROPERTIES ESTATE PROPERTIES


Westside Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout Los Angeles’ Westside. This Market Intelligence Report monitors

Beverlywood Brentwood Cheviot Hills Culver City Hollywood Inglewood Marina del Rey Pacific Palisades Palms / Mar Vista Playa del Rey Playa Vista Santa Monica Sherman Oaks Venice West Hollywood West Los Angeles Westchester Westwood/Century City

Market Intelligence Glossary MEDIAN PRICE:

Median Price is the price of the property that falls in the middle of the total number of properties Sold in any given month.

AVERAGE PRICE PER SQUARE FOOT:

Found by taking the price of each property and dividing that by its square footage, then finding the average for all properties Sold.

PROPERTIES FOR SALE: The number of properties that are for sale on the market.

PROPERTIES UNDER CONTRACT:

The number of properties with an accepted offer however they have not closed.

PROPERTIES SOLD: The number of properties that SOLD and transfered ownership.

DAYS ON MARKET (CLOSED SALES):

The average number of days that properties were on ACTIVE on the market.

MONTHS SUPPLY OF INVENTORY:

This is calculated by dividing the total number of homes for sale in a particular month by the number of homes that sold in that month.

PROPERTIES PENDING SALE:

The number of properties placed in escrow during any given month.

REPORT NOTES:

Reports published in January 2017 are based on data available at the end of December 2016. All reports presented are based on data supplied by the CRMLS or CLAW and Trendgraphix. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Information deemed reliable but not guaranteed.

Photography courtesy of Brian Holm, AvenueEye.com


Beverlywood December Stats

$1,279,000

Median Sold Price

$1,387,000

Average Sold Price

21 Listings for Sale

Year Over Year

Dec. Dec. 2015 2016

Median Price

$810

$1,279

58%

Average Price Per Sq. Foot

$604

$645

7%

Properties for Sale

30

21 -30%

Properties Pending Sales

17

11 -35%

Properties Sold

24

18 -25%

Days on Market (Sold Homes)

63

48 -24%

Monthly Supply of Inventory

1.8 1.9 6%

Absorption Rate (closed sales)

80

$1,600

11 Listings Pending

% Change

85.7 7%

Avg. & Median Price by Month

$1,387

$3,500

$1,400

$1,279

$3,000

$1,200

$2,593 $2,500

$1,000

18 Listings Sold

48 Days On Market

$2,000 $800

$1,655

$1,500 $600 $400 $1,000

$200 $500 $-

$-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec.. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average


Brentwood December Stats Year Over Year

Dec. Dec. 2015 2016

Median Price

$1,233

$1,730

40%

Average Price Per Sq. Foot

$999

$947

-5%

Properties for Sale

100

61 -39%

Properties Pending Sales

34

31 -9%

Properties Sold

36

31 -14%

Days on Market (Sold Homes)

56

68 21%

Monthly Supply of Inventory

2.9

2 -31%

Absorption Rate (closed sales)

36

$3,500

% Change

50.8 41%

$1,730,000

Median Sold Price

$2,602,000

Average Sold Price

61 Listings for Sale

Avg. & Median Price by Month

$3,500 $3,000

$2,602

$3,000 $2,500

$2,593

31 Listings Pending

$2,500 $2,000 $1,730

$2,000

$1,655

$1,500

$1,500

31 Listings Sold

$1,000

$1,000

$500

$500

$- $-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

68 Days On Market


Cheviot Hills December Stats

$1,697,000

Median Sold Price

Year Over Year

Dec. Dec. 2015 2016

Median Price

$1,375

$1,697

23%

$693

$798

15%

Average Price Per Sq. Foot

$1,706,000

Average Sold Price

18 Listings for Sale

Properties for Sale

10

18 80%

Properties Pending Sales

8

3 -63%

Properties Sold

7

6 -14%

Days on Market (Sold Homes)

53

96 81%

Monthly Supply of Inventory

1.4

3 114%

Absorption Rate (closed sales)

70

$3,000

3 Listings Pending

% Change

33.3 -52%

Avg. & Median Price by Month

$3,500 $2,500

$3,000 $2,593 $1,706

$2,000 $2,500

$1,697

6

$2,000

Listings Sold

$1,000

$1,500

$1,655

$1,500

$1,000 $500

96 Days On Market

$500 $$-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average


Culver City December Stats Year Over Year

Dec. Dec. 2015 2016

% Change

Median Price

$793

$1,026

29%

Average Price Per Sq. Foot

$597

$671

12%

Properties for Sale

21

30 43%

Properties Pending Sales

27

23 -15%

Properties Sold

50

32 -36%

Days on Market (Sold Homes)

52

30 -42%

Monthly Supply of Inventory

0.4

0.9 125%

238.1

106.7 -55%

Absorption Rate (closed sales)

$1,200

$1,026,000

Median Sold Price

$949,000

Average Sold Price

30 Listings for Sale

Avg. & Median Price by Month

$3,500

$1,026

$1,000

$949

$3,000

$2,593

$800 $2,500

$2,000

$600

$1,655

$1,500

23 Listings Pending

32 Listings Sold

$400

$1,000 $200

$500 $-$-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

30 Days On Market


Hollywood December Stats

$604,000

Median Sold Price

$634,000 Average Sold Price

46 Listings for Sale

Year Over Year

Listings Pending

15 Listings Sold

% Change

Median Price

$685

$604

-12%

Average Price Per Sq. Foot

$512

$536

5%

Properties for Sale

54

46 -15%

Properties Pending Sales

18

19 6%

Properties Sold

20

15 -25%

Days on Market (Sold Homes)

60

55 -8%

Monthly Supply of Inventory

3

2.4 -20%

Absorption Rate (closed sales)

37

32.6 -12%

$1,200

19

Dec. Dec. 2015 2016

Avg. & Median Price by Month

$3,500 $1,000

$3,000 $2,593

$800 $2,500

$634 $604

$2,000

$600

$1,655

$1,500 $400

$1,000 $200

55 Days On Market

$500 $-$-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average


Inglewood December Stats Year Over Year

Dec. Dec. 2015 2016

% Change

Median Price

$380

$410

8%

Average Price Per Sq. Foot

$282

$316

12%

Properties for Sale

47

40 -15%

Properties Pending Sales

23

38 65%

Properties Sold

35

28 -20%

Days on Market (Sold Homes)

50

41 -18%

Monthly Supply of Inventory

1.3

1.4 8%

Absorption Rate (closed sales)

74.5

70 -6%

$500

$410,000

Median Sold Price

$401,000 Average Sold Price

40 Listings for Sale

Avg. & Median Price by Month

$3,500 $450

$401

$410

$400

$3,000

$350

$2,593

38 Listings Pending

$2,500 $300

$2,000 $250 $1,655 $200

$1,500

28 Listings Sold

$150

$1,000 $100

$500

$50

$-$-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

41 Days On Market


Marina Del Rey December Stats

$835,000

Median Sold Price

$1,229,000 Average Sold Price

82 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$900

$835

-7%

Average Price Per Sq. Foot

$612

$703

15%

Properties for Sale

67

82 22%

Properties Pending Sales

22

33 50%

Properties Sold

24

29 21%

Days on Market (Sold Homes)

63

65 3%

Monthly Supply of Inventory

2.8 2.8 0%

Absorption Rate (closed sales)

35.8 35.4 -1%

$1,400

33

Dec. Dec. 2015 2016

Avg. & Median Price by Month $1,229

$3,500 $1,200

$3,000 $1,000

$2,593

$2,500

$835

$800

29 Listings Sold

$2,000 $1,655

$600

$1,500 $400

$1,000

$200

65 Days On Market

$500 $$-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average


Pacific Palisades December Stats Year Over Year

Dec. Dec. 2015 2016

Median Price Average Price Per Sq. Foot

% Change

$2,500

$2,950

18%

$914

$1,075

18%

Properties for Sale

79

69 -13%

Properties Pending Sales

17

30 76%

Properties Sold

31

23 -26%

Days on Market (Sold Homes)

83

76 -8%

Monthly Supply of Inventory

2.5

3 20%

Absorption Rate (closed sales) 39.2

$4,000

33.3 -15%

Avg. & Median Price by Month

$2,950,000

Median Sold Price

$3,809,000 Average Sold Price

69 Listings for Sale

$3,809

30

$3,500 $3,500

$3,000

$2,950

$3,000

$2,593

Listings Pending

$2,500

$2,500

$2,000

$2,000

$1,655

$1,500 $1,500

Listings Sold

$1,000 $1,000 $500 $500

$- $-

23

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

76 Days On Market


Palms/Mar Vista December Stats

$1,192,000

Median Sold Price

$1,302,000 Average Sold Price

22 Listings for Sale

Year Over Year

Dec. Dec. 2015 2016

% Change

Median Price

$975

$1,192

22%

Average Price Per Sq. Foot

$667

$671

1%

Properties for Sale

31

22 -29%

Properties Pending Sales

31

28 -10%

Properties Sold

43

39 -9%

Days on Market (Sold Homes)

57

57 0%

Monthly Supply of Inventory

0.7

0.6 -14%

Absorption Rate (closed sales) 138.7 177.3 28%

$1,600

28

$3,500

Listings Pending

$1,200

Avg. & Median Price by Month $1,302

$1,400

$3,000

$1,192

$2,593 $2,500

$1,000

39 Listings Sold

57 Days On Market

$2,000 $800 $1,655 $1,500 $600 $400 $1,000 $200 $500 $-

$-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average


Playa del Rey December Stats Year Over Year

Dec. Dec. 2015 2016

% Change

Median Price

$650

$588

-10%

Average Price Per Sq. Foot

$510

$531

4%

Properties for Sale

18

23 28%

Properties Pending Sales

6

11 83%

Properties Sold

11

19 73%

Days on Market (Sold Homes)

36

50 39%

Monthly Supply of Inventory

1.6

1.2 -25%

Absorption Rate (closed sales)

61.1

82.6 35%

$1,000

$588,000

Median Sold Price

$743,000 Average Sold Price

23 Listings for Sale

Avg. & Median Price by Month

$3,500$900 $743 $800

$3,000

$700

$2,593

$2,500

11 Listings Pending

$588

$600

$2,000$500 $1,655 $400

$1,500

19 Listings Sold

$300

$1,000 $200

$500$100 $-

$Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

50 Days On Market


Playa Vista December Stats

$954,000

Median Sold Price

Year Over Year

Dec. Dec. 2015 2016

Median Price Average Price Per Sq. Foot

$1,092,000 Average Sold Price

22 Listings for Sale

Listings Pending

$1,524

$954

-37%

$700

$603

-14%

Properties for Sale

7

22 214%

Properties Pending Sales

5

7 40%

Properties Sold

5

12 140%

Days on Market (Sold Homes)

37

41 11%

Monthly Supply of Inventory

1.4

1.8 29%

Absorption Rate (closed sales)

71.4

54.5 -24%

$1,800

7

Avg. & Median Price by Month

$3,500

$1,600

$3,000 $1,400 $1,092

$1,200

$2,500

Listings Sold

$2,593

$954

$1,000

12

% Change

$2,000 $1,655

$800

$1,500 $600

$1,000

$400

41 Days On Market

$500 $200

$-

$Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average


Santa Monica December Stats Year Over Year

Dec. Dec. 2015 2016

Median Price Average Price Per Sq. Foot

% Change

$1,175

$1,445

23%

$867

$1,083

25%

Properties for Sale

88

83 -6%

Properties Pending Sales

30

40 33%

Properties Sold

48

51 6%

Days on Market (Sold Homes)

50

50 0%

Monthly Supply of Inventory

1.8

1.6 -11%

Absorption Rate (closed sales) 54.5

61.4 13%

$2,500

$1,445,000

Median Sold Price

$1,760,000

Average Sold Price

83 Listings for Sale

Avg. & Median Price by Month

$3,500 $2,000

$3,000

$1,760

$2,593 $2,500

40 Listings Pending

$1,445

$1,500

$2,000 $1,655 $1,000

$1,500

51 Listings Sold

$1,000 $500

$500

$-

$Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

50 Days On Market


Sherman Oaks December Stats

$800,000

Median Sold Price

$987,000

Average Sold Price

145

Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$808

$800

-1%

Average Price Per Sq. Foot

$444

$467

5%

Properties for Sale

130

145 12%

Properties Pending Sales

53

72 36%

Properties Sold

78

69 -12%

Days on Market (Sold Homes)

62

66 6%

Monthly Supply of Inventory

1.7

2.1 24%

Absorption Rate (closed sales)

60

47.6 -21%

$1,400

72

Dec. Dec. 2015 2016

Avg. & Median Price by Month

$3,500 $1,200

$3,000 $987

$1,000

$2,593

$2,500 $800

$800

69 Listings Sold

$2,000 $1,655

$600

$1,500 $400

$1,000

$200

$500

66 Days On Market

$-

$-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average


Venice December Stats Year Over Year

Dec. Dec. 2015 2016

Median Price

$1,605

$1,763

10%

Average Price Per Sq. Foot

$1,104

$1,144

4%

% Change

Properties for Sale

57

58 2%

Properties Pending Sales

11

13 18%

Properties Sold

20

21 5%

Days on Market (Sold Homes)

53

69 30%

Monthly Supply of Inventory

2.9

2.8 -3%

Absorption Rate (closed sales)

35.1 36.2 3%

$2,500

$1,763,000

Median Sold Price

$2,091,000

Average Sold Price

58

Listings for Sale

Avg. & Median Price by Month

$3,500

$2,091

$2,000

$3,000

$1,763

$2,593

13

Listings Pending

$2,500 $1,500

$2,000 $1,655 $1,000

$1,500

21 Listings Sold

$1,000 $500

$500

$-

$Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

69 Days On Market


West Hollywood December Stats

$785,000

Median Sold Price

$1,205,000 Average Sold Price

78 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$890

$785

-12%

Average Price Per Sq. Foot

$754

$732

-3%

Properties for Sale

65

78 20%

Properties Pending Sales

29

41 41%

Properties Sold

43

29 -33%

Days on Market (Sold Homes)

66

59 -11%

Monthly Supply of Inventory

1.5

2.7 80%

Absorption Rate (closed sales)

66.2

37.2 -44%

$1,400

41

Dec. Dec. 2015 2016

Avg. & Median Price by Month $1,205

$3,500 $1,200

$3,000 $1,000

$2,593

$2,500 $785

$800

29 Listings Sold

$2,000 $1,655

$600

$1,500 $400

$1,000

$200

59 Days On Market

$500 $$-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average


West Los Angeles December Stats Year Over Year

Dec. Dec. 2015 2016

% Change

Median Price

$830

$860

4%

Average Price Per Sq. Foot

$566

$610

8%

Properties for Sale

26

28 8%

Properties Pending Sales

22

27 23%

Properties Sold

35

25 -29%

Days on Market (Sold Homes)

64

46 -28%

Monthly Supply of Inventory

0.7

1.1 57%

Absorption Rate (closed sales) 134.6

89.3 -34%

$1,200

$860,000

Median Sold Price

$958,000 Average Sold Price

28 Listings for Sale

Avg. & Median Price by Month

$3,500

$958

$1,000

$3,000

$860

$2,593

$2,500$800

$2,000$600

$1,655

$1,500

27 Listings Pending

25 Listings Sold

$400

$1,000 $200

$500

$-

$Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

46 Days On Market


Westchester December Stats

$973,000

Median Sold Price

Year Over Year

Dec. Dec. 2015 2016

Median Price Average Price Per Sq. Foot

$1,013,000

Average Sold Price

26 Listings for Sale

Listings Pending

$1,005

$973

-3%

$534

$603

13%

Properties for Sale

25

26 4%

Properties Pending Sales

24

22 -8%

Properties Sold

31

34 10%

Days on Market (Sold Homes)

55

68 24%

Monthly Supply of Inventory

0.8 0.8 0%

Absorption Rate (closed sales)

124 130.8 5%

$1,400

22

% Change

Avg. & Median Price by Month

$3,500 $1,200

$3,000

$1,013

$1,000

$973

$2,593

$2,500 $800

34 Listings Sold

$2,000 $1,655

$600

$1,500 $400

$1,000

$200

68 Days On Market

$500 $$-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average


Westwood/Century City December Stats Year Over Year

Dec. Dec. 2015 2016

% Change

Median Price

$925

$1,065

15%

Average Price Per Sq. Foot

$751

$680

-9%

Properties for Sale

145 138 -5%

Properties Pending Sales

47

48 2%

Properties Sold

64

47 -27%

Days on Market (Sold Homes)

67

55 -18%

Monthly Supply of Inventory

2.3

2.9 26%

Absorption Rate (closed sales)

44.1

34.1 -23%

$1,800

$1,065,000 Median Sold Price

$1,417,000 Average Sold Price

138 Listings for Sale

Avg. & Median Price by Month

48

$3,500

$1,600 $1,417

$3,000 $1,400

$2,593

$1,200

$2,500

Listings Pending

$1,065

$1,000

$2,000

$1,655

$800

$1,500

47 Listings Sold

$600

$1,000

$400

$500 $200 $- $-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

55 Days On Market


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