LA’s Westside Market Intelligence Report Vol. 4 | July 2018 Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate community This Sales Monthly Report monitors Palms/Mar Vista Beverlywood Beverly Hills
Playa Del Rey
Brentwood
Playa Vista
Cheviot Hills
Santa Monica
Culver City
Sherman Oaks
Hollywood
Venice
Marina Del Rey
Westchester
Pacific Palisades
Westwood/Century City
West Hollywood RE/MAX Estate Properties 700+ Local Agents • 16 Offices • Luxury Residential Commercial Investment Division • International
Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071
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.
Absorption rate (closed sales):
This is the rate at which properties sell. It is the number of properties sold divided by the total number of properties for sale.
Report Notes:
Reports published in July 2018 are based on data available at the end of June 2018. All reports presented are based on data supplied by the CRMLS or TheMLS and Trendgraphix. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Information deemed reliable but not guaranteed
Westside Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the Los Angeles’ Westside. Beverly Hills...................................................................... 4 Beverlywood..................................................................... 5 Brentwood........................................................................ 6 Cheviot Hills...................................................................... 7 Culver City......................................................................... 8 Hollywood........................................................................ 9 Inglewood....................................................................... 10 Marina del Rey................................................................ 11 Pacific Palisades............................................................. 12 Palms / Mar Vista............................................................ 13 Playa del Rey.................................................................. 14 Playa Vista...................................................................... 15 Santa Monica.................................................................. 16 Sherman Oaks................................................................ 17 Venice.............................................................................. 18 West Hollywood............................................................. 19 West Los Angeles............................................................ 20 Westchester.................................................................... 21 Westwood/Century City................................................. 22
Beverly Hills junE Stats Key Facts:
$1,943,000
Median Sold Price
$3,708,000
Average Sold Price
138
JUNE JUNE % 2017 2018 Change
Median Price
$2,400
$1,943
-19%
Average Price Per Sq. Foot
$1,203
$1,273
6%
Properties for Sale
127 138 9%
Properties Pending Sales
19
19 0%
Properties Sold
19
16 -16%
Days on Market (Sold Homes)
60
45 -25%
Monthly Supply of Inventory
6.7
8.6 28%
Absorption Rate (closed sales)
15
11.6 -23%
Listings for Sale
19
Listings Pending
Average & Median Price $7,000
$3,500 $6,000
$3,000
16
Listings Sold
$2,593
$5,000
$2,500 $3,708
$4,000
$2,000 $1,655
45
Days On Market
$3,000 $1,500 $1,943
$1,000 $2,000
$500 $1,000 $-
$-
June 2017
July 2017
Aug. 2017
Sept. 2017
Oct. 2017
Nov. 2017
Median
Dec. 2017
Jan. 2018
Average
Feb. 2018
Mar. 2018
Apr. 2018
May 2018
June 2018
Beverlywood JUNE Stats Key Facts:
$1,308,000 Median Sold Price
$1,338,000
Average Sold Price
41
JUNE JUNE 2017 2018
Median Price
$1,215
$1,308
8%
Average Price Per Sq. Foot
$721
$790
10%
Properties for Sale
25
41 64%
Properties Pending Sales
12
31 158%
Properties Sold
27
23 -15%
Days on Market (Sold Homes) 58
43 -26%
Monthly Supply of Inventory
2.1
1.3 -38%
Absorption Rate (closed sales) 108
56.1 -48%
Listings for Sale
31
Listings Pending
% Change
Average & Median Price $2,000
$3,500
$1,800
$3,000
$1,600
23
Listings Sold
$1,338
$2,593
$1,400 $2,500
$1,308
$1,200
$2,000
$1,655
$1,000
43
Days On Market
$1,500
$800
$600 $1,000 $400
$500
$200
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Brentwood junE Stats Key Facts:
$2,413,000
Median Sold Price
$3,235,000
Average Sold Price
138
JUNE JUNE % 2017 2018 Change
Median Price
$2,300
$2,413
5%
Average Price Per Sq. Foot
$966
$1,026
6%
Properties for Sale
120 138 15%
Properties Pending Sales
41
48 17%
Properties Sold
57
34 -40%
Days on Market (Sold Homes)
55
57 4%
Monthly Supply of Inventory
2.9 2.9 0%
Absorption Rate (closed sales) 47.5
Listings for Sale
48
Listings Pending
24.6 -48%
Average & Median Price $4,000
$3,500
$3,235 $3,500
$3,000
34
Listings Sold
$2,593
$3,000
$2,500 $2,413
$2,500
$2,000 $1,655
$2,000
57
Days On Market
$1,500 $1,500
$1,000 $1,000
$500 $500
$$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Cheviot Hills JUNE Stats Key Facts:
$2,600,000 Median Sold Price
$2,612,000
Average Sold Price
19
JUNE JUNE 2017 2018
Median Price
$2,220
$2,600
17%
$783
$882
13%
Average Price Per Sq. Foot Properties for Sale
14
19 36%
Properties Pending Sales
11
13 18%
Properties Sold
10
11 10%
Days on Market (Sold Homes) 56
36 -36%
Monthly Supply of Inventory
1.4
1.7 21%
Absorption Rate (closed sales) 71.4
57.9 -19%
Listings for Sale
13
Listings Pending
% Change
Average & Median Price $3,000 $3,500
$2,612 $2,600
$3,000 $2,500
11
Listings Sold
$2,593 $2,500 $2,000
$2,000 $1,655
$1,500
36
Days On Market
$1,500 $1,000
$1,000
$500 $500
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Culver City junE Stats Key Facts:
$1,160,000
Median Sold Price
$1,160,000
Average Sold Price
50
Median Price
$884
$1,160
31%
Average Price Per Sq. Foot
$775
$790
2%
Properties for Sale
41
Properties Pending Sales
44 47 7%
Properties Sold
30
34 13%
Days on Market (Sold Homes)
42
40 -5%
Monthly Supply of Inventory
1.4 1.5 7%
Listings Pending
Average & Median Price $3,500 $1,400
$3,000 $1,200
34
50 22%
Absorption Rate (closed sales) 73.2 68 -7%
Listings for Sale
47
JUNE JUNE % 2017 2018 Change
$1,160
$1,160
$2,593 $2,500 $1,000
Listings Sold $2,000 $800 $1,655
40
Days On Market
$1,500 $600 $1,000 $400 $500 $200
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Hollywood JUNE Stats Key Facts:
$830,000 Median Sold Price
$895,000
Average Sold Price
62
Listings Pending
$690
$830
20%
Average Price Per Sq. Foot
$688
$594
-14%
Properties for Sale
62
62 0%
Properties Pending Sales
23
18 -22%
Properties Sold
27
25 -7%
Days on Market (Sold Homes) 62
48 -23%
Monthly Supply of Inventory
3.4 26%
2.7
Absorption Rate (closed sales) 43.5 40.3 -7%
Average & Median Price $1,200
$3,500
$895
$3,000 $1,000
25
Listings Sold
% Change
Median Price
Listings for Sale
18
JUNE JUNE 2017 2018
$2,593
$830
$2,500
$800
$2,000 $1,655
$600
48
Days On Market
$1,500 $400
$1,000
$200 $500
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Inglewood junE Stats Key Facts:
$476,000
Median Sold Price
$486,000
Average Sold Price
46
Median Price
$502
$476
-5%
Average Price Per Sq. Foot
$386
$457
18%
Properties for Sale
39
46 18%
Properties Pending Sales
28
42 50%
Properties Sold
34
27 -21%
Days on Market (Sold Homes)
24
25 4%
Monthly Supply of Inventory
1.1
1.7 55%
Absorption Rate (closed sales) 87.2
58.7 -33%
Listings for Sale
42
Listings Pending
JUNE JUNE % 2017 2018 Change
Average & Median Price $700
$3,500 $600
$3,000 $486
27
Listings Sold
$500
$2,500
$476$2,593
$400
$2,000
$1,655
25
Days On Market
$300 $1,500
$200 $1,000
$500 $100 $-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Marina Del Rey JUNE Stats Key Facts:
$1,038,000 Median Sold Price
$1,265,000
Average Sold Price
87
Listings Pending
$939
$1,038
11%
Average Price Per Sq. Foot
$694
$735
6%
Properties for Sale
92
87 -5%
Properties Pending Sales
36
32 -11%
Properties Sold
34
36 6%
Days on Market (Sold Homes) 48
36 -25%
Monthly Supply of Inventory
2.7
2.4 -11%
Absorption Rate (closed sales) 37
41.4 12%
Average & Median Price $1,600
$3,500 $1,400
$3,000
36
Listings Sold
% Change
Median Price
Listings for Sale
32
JUNE JUNE 2017 2018
$1,265
$1,200
$2,593
$2,500
$1,038
$1,000
$2,000 $800
36
Days On Market
$1,655
$1,500 $600
$1,000
$400
$500
$200
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Pacific Palisades junE Stats Key Facts:
$2,778,000
Median Sold Price
$3,252,000
Average Sold Price
89
JUNE JUNE % 2017 2018 Change
Median Price
$2,700
$2,778
3%
Average Price Per Sq. Foot
$1,039
$1,020
-2%
Properties for Sale
95
89 -6%
Properties Pending Sales
27
28 4%
Properties Sold
33
23 -30%
Days on Market (Sold Homes)
42
51 21%
Monthly Supply of Inventory
2.9
3.9 34%
Absorption Rate (closed sales) 34.7
25.8 -26%
Listings for Sale
28
Listings Pending
Average & Median Price $3,500 $5,000 $4,500
$3,000
$4,000
23
Listings Sold
$2,593
$2,500
$3,500
$3,252
$3,000 $2,000
$2,778
$1,655
$2,500
51
Days On Market
$1,500 $2,000
$1,000 $1,500 $1,000
$500
$500
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Palms/Mar Vista JUNE Stats Key Facts:
$1,400,000 Median Sold Price
$1,566,000
Average Sold Price
61
JUNE JUNE 2017 2018
Median Price
$1,497
$1,400
-6%
Average Price Per Sq. Foot
$759
$899
18%
Properties for Sale
48
61 27%
Properties Pending Sales
50
42 -16%
Properties Sold
56
32 -43%
Days on Market (Sold Homes) 39
33 -15%
Monthly Supply of Inventory
1.9 111%
Listings Pending
0.9
Absorption Rate (closed sales) 116.7
Listings for Sale
42
% Change
52.5 -55%
Average & Median Price $3,500
$1,800 $1,566
$1,600 $3,000
32
Listings Sold
$1,400
$2,593
$1,400
$2,500
$1,200
$2,000
$1,000
33
Days On Market
$1,655
$1,500 $800 $600
$1,000
$400
$500 $200
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Playa del Rey junE Stats Key Facts:
$782,000
Median Sold Price
$1,266,000
Average Sold Price
JUNE JUNE % 2017 2018 Change
Median Price
$676
$782
16%
Average Price Per Sq. Foot
$668
$663
-1%
Properties for Sale
28
31 11%
Properties Pending Sales
24
21 -13%
Properties Sold
29
24 -17%
Days on Market (Sold Homes)
24
53 121%
1
1.3 30%
Monthly Supply of Inventory
31
Absorption Rate (closed sales) 103.6 77.4 -25%
Listings for Sale
21
Listings Pending
Average & Median Price $1,800
$3,500 $1,600 $1,266
$3,000
$1,400
24
Listings Sold
$2,593 $2,500 $1,200 $1,000 $2,000
$1,655
53
Days On Market
$782
$800
$1,500
$600
$1,000 $400
$500 $200
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Playa Vista JUNE Stats Key Facts:
$1,190,000 Median Sold Price
$1,596,000
Average Sold Price
21
JUNE JUNE 2017 2018
Median Price
$1,377
$1,190
-14%
Average Price Per Sq. Foot
$679
$750
10%
Properties for Sale
19
21 11%
Properties Pending Sales
18
13 -28%
Properties Sold
19
13 -32%
Days on Market (Sold Homes) 40
35 -13%
Monthly Supply of Inventory
1
1.6 60%
Absorption Rate (closed sales) 100
61.9 -38%
Listings for Sale
13
Listings Pending
% Change
Average & Median Price $2,500
$3,500
$3,000 $2,000
13
Listings Sold
$2,593 $2,500
$1,596
$1,500
$2,000
$1,190
$1,655
35
Days On Market
$1,500 $1,000 $1,000 $500
$500
$$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Santa Monica junE Stats Key Facts:
$1,588,000
Median Sold Price
$2,179,000
Average Sold Price
138
JUNE JUNE % 2017 2018 Change
Median Price
$1,540
$1,588
3%
Average Price Per Sq. Foot
$1,058
$1,099
4%
Properties for Sale
97
138 42%
Properties Pending Sales
58
63 9%
Properties Sold
78
64 -18%
Days on Market (Sold Homes)
43
43 0%
Monthly Supply of Inventory
1.2
2.2 83%
Absorption Rate (closed sales) 80.4
46.4 -42%
Listings for Sale
63
Listings Pending
Average & Median Price $3,500
$2,500 $2,179
$3,000
64
Listings Sold
$2,000
$2,593
$2,500 $1,588 $1,500 $2,000
$1,655
43
Days On Market
$1,500 $1,000
$1,000 $500
$500
$$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Sherman Oaks JUNE Stats Key Facts:
$850,000 Median Sold Price
$1,034,000
Average Sold Price
170
Listings Pending
% Change
Median Price
$875
$850
-3%
Average Price Per Sq. Foot
$507
$531
5%
Properties for Sale
195
170 -13%
Properties Pending Sales
91
97 7%
Properties Sold
126
104 -17%
Days on Market (Sold Homes) 47
41 -13%
Monthly Supply of Inventory
1.6 7%
1.5
Absorption Rate (closed sales) 64.6 61.2 -5%
Listings for Sale
97
JUNE JUNE 2017 2018
Average & Median Price $1,600 $3,500 $1,400
$3,000
104
Listings Sold
$2,593
$1,200
$2,500
$1,034
$1,000
$2,000
$850
$1,655
$800
41
Days On Market
$1,500 $600
$1,000 $400
$500
$200
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Venice junE Stats Key Facts:
$2,318,000
Median Sold Price
$2,300,000
Average Sold Price
72
JUNE JUNE % 2017 2018 Change
Median Price
$2,000
$2,318
16%
$1,136
$1,242
9%
Average Price Per Sq. Foot Properties for Sale
68
72 6%
Properties Pending Sales
24
28 17%
Properties Sold
21
30 43%
Days on Market (Sold Homes)
39
60 54%
Monthly Supply of Inventory
3.2
2.4 -25%
Absorption Rate (closed sales) 30.9 41.7 35%
Listings for Sale
28
Listings Pending
Average & Median Price $3,000 $3,500
$3,000
$2,300 $2,318
$2,500
30
Listings Sold
$2,593
$2,500 $2,000
$2,000 $1,655
$1,500
60
Days On Market
$1,500 $1,000
$1,000
$500 $500
$-
$-
June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
West Hollywood JUNE Stats Key Facts:
$971,000 Median Sold Price
$1,070,000
Average Sold Price
111
Listings Pending
% Change
Median Price
$812
$971
20%
Average Price Per Sq. Foot
$746
$802
8%
Properties for Sale
86
111 29%
Properties Pending Sales
42
48 14%
Properties Sold
50
38 -24%
Days on Market (Sold Homes) 44
42 -5%
Monthly Supply of Inventory
1.7
2.9 71%
Absorption Rate (closed sales) 58.1
34.2 -41%
Listings for Sale
48
JUNE JUNE 2017 2018
Average & Median Price $3,500 $1,600 $1,400 $3,000
38
Listings Sold
$2,593
$1,200
$1,070
$2,500
$971
$1,000
$2,000
$1,655
$800
42
Days On Market
$1,500 $600
$1,000 $400
$500
$200
$- $June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
West Los Angeles junE Stats Key Facts:
$1,018,000
Median Sold Price
$1,083,000
Average Sold Price
43
Median Price
$936
$1,018
9%
Average Price Per Sq. Foot
$676
$720
7%
Properties for Sale
26
43 65%
Properties Pending Sales
37
25 -32%
Properties Sold
32
22 -31%
Days on Market (Sold Homes)
38
42 11%
Monthly Supply of Inventory
0.8
2 150%
Absorption Rate (closed sales) 123.1
51.2 -58%
Listings for Sale
25
Listings Pending
JUNE JUNE % 2017 2018 Change
Average & Median Price $1,600
$3,500
$1,400 $1,083
$3,000
$1,200
22
Listings Sold
$2,593
$1,018
$2,500
$1,000
$2,000 $800
42
Days On Market
$1,655
$1,500 $600 $1,000 $400 $500 $200
$-$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Westchester JUNE Stats Key Facts:
$1,308,000 Median Sold Price
$1,362,000
Average Sold Price
49
JUNE JUNE 2017 2018
Median Price
$1,080
$1,308
21%
$659
$670
2%
Average Price Per Sq. Foot Properties for Sale
59
49 -17%
Properties Pending Sales
41
30 -27%
Properties Sold
41
38 -7%
Days on Market (Sold Homes) 31
35 13%
Monthly Supply of Inventory
1.3 -7%
Listings Pending
1.4
Absorption Rate (closed sales) 69.5 77.6 12%
Listings for Sale
30
Average & Median Price $3,500
$1,600 $1,362
$3,000 $1,400
38
Listings Sold
% Change
$1,308
$2,593 $1,200 $2,500 $1,000
$2,000
$1,655 $800
35
Days On Market
$1,500
$600
$1,000 $400
$500 $200
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Westwood/Century City junE Stats Key Facts:
$1,275,000
Median Sold Price
$1,765,000
Average Sold Price
154
JUNE JUNE % 2017 2018 Change
Median Price
$1,035
$1,275
23%
Average Price Per Sq. Foot
$771
$869
13%
Properties for Sale
161
154 -4%
Properties Pending Sales
71
57 -20%
Properties Sold
94
63 -33%
Days on Market (Sold Homes)
55
54 -2%
Monthly Supply of Inventory
1.7
2.4 41%
Absorption Rate (closed sales) 58.4
Listings for Sale
57
Listings Pending
40.9 -30%
Average & Median Price $2,000 $3,500 $1,765
$1,800
$3,000 $1,600
63
Listings Sold
$2,593
$2,500 $1,400
$1,275
$1,200
$2,000 $1,655
$1,000
54
Days On Market
$1,500 $800
$1,000 $600 $400
$500
$200
$-
$-
June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
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Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071