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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