Vol. Vol 5 | September 7 | January 2019 2021
Market Intelligence Report LA’s Westside Edition Delivering the facts and trends of the most relevant market activities as they unfold in LA’s Westside real estate communities
RE/MAX Estate Properties 600+ Local Agents • 12 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720
RE/MAX Estate Properties 650+ Local Agents • 14 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720
310.541.6416 | mdmegowan@gmail.com www.maureenmegowan.com RE/MAX Hall of Fame • RE/MAX Platinum & 100% Club • CLHMS-Luxury Home Specialist • PV & Seniors Specialist • DRE #01368971.
Westside Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the Westside of Los Angeles. Beverly Hills...................................................................... 3 Beverlywood..................................................................... 4 Brentwood........................................................................ 5 Cheviot Hills...................................................................... 6 Culver City......................................................................... 7 Hollywood........................................................................ 8 Inglewood......................................................................... 9 Marina del Rey................................................................ 10 Pacific Palisades............................................................. 11 Palms / Mar Vista............................................................ 12 Playa del Rey.................................................................. 13 Playa Vista...................................................................... 14 Santa Monica.................................................................. 15 Venice.............................................................................. 16 West Hollywood............................................................. 17 West Los Angeles............................................................ 18 Westchester.................................................................... 19 Westwood/Century City................................................. 20
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 January 2021 are based on data available at the end of January 2021. 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.
Beverly Hills DECEMBER STATS Key Facts:
$5,950,000
Median Sold Price
$5,180,000
Average Sold Price
171
Listings for Sale
21
Listings Pending
DECEMBER DECEMBER %
` 2019
Listings Sold
Change
Median Price (in $1,000)
$2,540
$5,950 134%
Average Price Per Sq. Foot
$1,369
$1,376
1%
Properties for Sale
132
171 30%
Properties Pending Sales
14
21 50%
Properties Sold
23
17 -26%
Days on Market (Sold Homes)
76
62 -18%
Monthly Supply of Inventory
5.7
10.1 77%
Absorption Rate (Closed Sales) 17.4
9.9 -43%
$16,000
AVERAGE & MEDIAN PRICE
$14,000
$3,500 $12,000
$3,000
17
2020
$5,180 $5,950 $2,593
$10,000 $2,500 $8,000 $2,000
$1,655
62
Days On Market
$6,000 $1,500 $4,000 $1,000 $2,000 $500 $$-
Dec Jan Feb Mar 2019 2020 2020 2020
Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2020 2020 2020 2020 2020 2020 2020 2020
Median
Average
Beverlywood DECEMBER STATS Key Facts:
$1,615,000 Median Sold Price
$1,857,000
Average Sold Price
45
DECEMBER DECEMBER %
2019
2020
Change
Median Price (in $1,000)
$1,525
$1,615
6%
Average Price Per Sq. Foot
$820
$866
6%
Properties for Sale
19
45 137%
Properties Pending Sales
15
18 20%
Properties Sold
21
23 10%
Days on Market (Sold Homes)
55
36 -35%
Monthly Supply of Inventory
1.3
2.5 92%
Absorption Rate (Closed Sales) 110.5
51.1 -54%
Listings for Sale
AVERAGE & MEDIAN PRICE $3,500
18
Listings Pending
$3,500 $3,000 $3,000 $2,500
23
Listings Sold
$2,593 $1,857
$2,500 $2,000 $2,000
36
Days On Market
$1,615 $1,655
$1,500 $1,500 $1,000 $1,000 $500 $500
$-$Dec Jan Feb Mar 2019 2020 2020 2020
Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Brentwood DECEMBER STATS Key Facts:
$2,200,000
Median Sold Price
$4,135,000
Average Sold Price
128
DECEMBER DECEMBER %
` 2019
Listings Pending
$1,933
$2,200
14%
Average Price Per Sq. Foot
$937
$1,183
26%
Properties for Sale
83
128 54%
Properties Pending Sales
23
39 70%
Properties Sold
36
48 33%
Days on Market (Sold Homes)
80
61 -24%
Monthly Supply of Inventory
3.6
3.3 -8%
Absorption Rate (Closed Sales) 43.4 37.5 -14%
AVERAGE & MEDIAN PRICE $5,000 $3,500 $4,500 $4,000 $3,000
48
Listings Sold
$4,135 $2,593
$3,500 $2,500 $3,000 $2,000 $2,500
61
Days On Market
Change
Median Price (in $1,000)
Listings for Sale
39
2020
$2,200 $1,655
$1,500 $2,000 $1,500 $1,000 $1,000 $500 $500 $$Dec Jan Feb Mar 2019 2020 2020 2020
Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Cheviot Hills DECEMBER STATS Key Facts:
DECEMBER DECEMBER %
Median Price (in $1,000)
$2,515,000 Median Sold Price
$2,919,000
Average Sold Price
15
Average Price Per Sq. Foot
Listings Pending
9
Listings Sold
2020
Change
$1,600
$2,515
57%
$882
$922
5%
Properties for Sale
12
15 25%
Properties Pending Sales
2
7 250%
Properties Sold
8
9 13%
Days on Market (Sold Homes)
48
47 -2%
Monthly Supply of Inventory
1.5
1.7 13%
Absorption Rate (Closed Sales) 66.7
60 -10%
Listings for Sale
7
2019
AVERAGE & MEDIAN PRICE $4,000 $3,500
$2,919
$3,500 $3,000 $3,000 $2,500
$2,593 $2,515
$2,500 $2,000
$1,655
$2,000
47
Days On Market
$1,500 $1,500 $1,000 $1,000 $500 $500 $$Dec Jan Feb Mar 2019 2020 2020 2020
Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Culver City DECEMBER STATS Key Facts:
$1,129,000
Median Sold Price
$1,157,000
Average Sold Price
47
DECEMBER DECEMBER %
` 2019
2020
Change
Median Price (in $1,000)
$937
$1,129
20%
Average Price Per Sq. Foot
$780
$757
-3%
Properties for Sale
26
47 81%
Properties Pending Sales
28
34 21%
Properties Sold
39
51 31%
Days on Market (Sold Homes)
47
35 -26%
Monthly Supply of Inventory
0.7
0.9 29%
Absorption Rate (Closed Sales) 150
Listings for Sale
34
Listings Pending
51
Listings Sold
108.5 -28%
AVERAGE & MEDIAN PRICE $1,157
$1,400 $3,500
$1,129
$1,200 $3,000
$2,593
$1,000 $2,500 $800 $2,000
$1,655
35
Days On Market
$600 $1,500 $400 $1,000
$500 $200 $$Dec Jan Feb Mar 2019 2020 2020 2020
Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Hollywood DECEMBER STATS Key Facts:
$885,000 Median Sold Price
$1,049,000
Average Sold Price
106
2019
2020
Change
Median Price (in $1,000)
$983
$885
-10%
Average Price Per Sq. Foot
$634
$722
14%
Properties for Sale
70
106 51%
Properties Pending Sales
21
14 -33%
Properties Sold
16
21 31%
Days on Market (Sold Homes)
95
51 -46%
Monthly Supply of Inventory
3.3
7.6 130%
Absorption Rate (Closed Sales) 22.9 19.8 -14%
Listings for Sale
14
Listings Pending
DECEMBER DECEMBER %
AVERAGE & MEDIAN PRICE $1,400 $3,500 $1,049
$1,200 $3,000
21
Listings Sold
$1,000
$2,593 $885
$2,500 $800 $2,000
51
Days On Market
$1,655
$600 $1,500 $400 $1,000 $200 $500 $$-
Median
Average
Inglewood DECEMBER STATS Key Facts:
$704,000
Median Sold Price
$704,000
Average Sold Price
52
DECEMBER DECEMBER %
` 2019
2020
Change
Median Price (in $1,000)
$600
$704
17%
Average Price Per Sq. Foot
$461
$497
8%
Properties for Sale
42
52 24%
Properties Pending Sales
27
27 0%
Properties Sold
28
40 43%
Days on Market (Sold Homes)
31
45 45%
Monthly Supply of Inventory
1.5
1.3 -13%
Absorption Rate (Closed Sales) 66.7 76.9 15%
Listings for Sale
AVERAGE & MEDIAN PRICE $704
$800
27
Listings Pending
$704
$3,500 $700 $3,000 $600
40
$2,593 $2,500 $500
Listings Sold $2,000 $400 $1,655
45
Days On Market
$1,500 $300 $1,000 $200
$500 $100
$-$-
Dec Jan Feb Mar 2019 2020 2020 2020
Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Marina Del Rey DECEMBER STATS Key Facts:
$1,334,000 Median Sold Price
$1,629,000
Average Sold Price
99
DECEMBER DECEMBER %
2019
2020
Change
Median Price (in $1,000)
$969
$1,334
38%
Average Price Per Sq. Foot
$729
$798
9%
Properties for Sale
63
99 57%
Properties Pending Sales
23
29 26%
Properties Sold
35
32 -9%
Days on Market (Sold Homes)
57
48 -16%
Monthly Supply of Inventory
1.8
3.1 72%
Absorption Rate (Closed Sales) 55.6
32.3 -42%
Listings for Sale
29
Listings Pending
AVERAGE & MEDIAN PRICE $1,629
$1,800 $1,334
$3,500 $1,600 $1,400 $3,000
32
Listings Sold
$2,593
$1,200 $2,500 $1,000
$2,000 $800
48
Days On Market
$1,655
$1,500 $600 $400 $1,000 $200 $500 $-
$-
Median
Average
Pacific Palisades DECEMBER STATS Key Facts:
$2,253,000
Median Sold Price
$2,811,000
Average Sold Price
100
DECEMBER DECEMBER %
` 2019
2020
Change
Median Price (in $1,000)
$2,318
$2,253
-3%
Average Price Per Sq. Foot
$1,006
$988
-2%
Properties for Sale
88
100 14%
Properties Pending Sales
19
36 89%
Properties Sold
30
38 27%
Days on Market (Sold Homes)
66
44 -33%
Monthly Supply of Inventory
2.9
2.6 -10%
Absorption Rate (Closed Sales) 34.1 38 11%
Listings for Sale
36
Listings Pending
AVERAGE & MEDIAN PRICE $5,000 $3,500 $4,500 $3,000 $4,000
38
Listings Sold
44
Days On Market
$2,253 $2,593 $2,811
$3,500 $2,500 $3,000 $2,000 $2,500
$1,655
$1,500 $2,000 $1,500 $1,000 $1,000 $500 $500 $$Dec Jan Feb Mar 2019 2020 2020 2020
Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Palms/Mar Vista DECEMBER STATS Key Facts:
$1,577,000 Median Sold Price
$1,722,000
Average Sold Price
48
2019
2020
Change
Median Price (in $1,000)
$1,170
$1,577
35%
Average Price Per Sq. Foot
$876
$834
-5%
Properties for Sale
32
48 50%
Properties Pending Sales
14
33 136%
Properties Sold
29
32 10%
Days on Market (Sold Homes)
49
34 -31%
Monthly Supply of Inventory
1.1
1.5 36%
Absorption Rate (Closed Sales) 90.6
66.7 -26%
Listings for Sale
33
Listings Pending
DECEMBER DECEMBER %
AVERAGE & MEDIAN PRICE $2,000 $3,500
$1,577
$1,800
$1,722
$3,000 $1,600
32
Listings Sold
$2,593
$1,400 $2,500 $1,200 $2,000 $1,000
34
Days On Market
$1,655
$800 $1,500 $600 $1,000 $400 $200 $500 $$-
Median
Average
Playa del Rey DECEMBER STATS Key Facts:
$727,000
Median Sold Price
$1,270,000
Average Sold Price
30
DECEMBER DECEMBER %
` 2019
2020
Change
Median Price (in $1,000)
$680
$727
7%
Average Price Per Sq. Foot
$653
$717
10%
Properties for Sale
19
30 58%
Properties Pending Sales
17
9 -47%
Properties Sold
14
20 43%
Days on Market (Sold Homes)
62
41 -34%
Monthly Supply of Inventory
1.4 1.5 7%
Absorption Rate (Closed Sales) 73.7 66.7 -9%
Listings for Sale
AVERAGE & MEDIAN PRICE $1,600
9
Listings Pending
$3,500 $1,400 $1,270
$3,000 $1,200
20
Listings Sold
$2,593 $1,000 $2,500 $727 $800 $2,000 $1,655
41
Days On Market
$600 $1,500 $400 $1,000 $200 $500 $$-
Median
Average
Playa Vista DECEMBER STATS Key Facts:
$1,100,000 Median Sold Price
$1,236,000
Average Sold Price
DECEMBER DECEMBER %
2019
2020
Change
Median Price (in $1,000)
$1,185
$1,100
-7%
Average Price Per Sq. Foot
$671
$733
9%
Properties for Sale
24
43 79%
Properties Pending Sales
13
16 23%
Properties Sold
12
8 -33%
Days on Market (Sold Homes)
60
51 -15%
2
5.4 170%
Absorption Rate (Closed Sales) 50
18.6 -63%
Monthly Supply of Inventory
43
Listings for Sale
16
Listings Pending
AVERAGE & MEDIAN PRICE $2,000 $3,500 $1,800
$1,236
$1,600 $3,000
8
Listings Sold
$1,100 $2,593
$1,400 $2,500 $1,200 $2,000 $1,000
51
Days On Market
$1,655
$800 $1,500 $600 $1,000 $400 $200 $500 $$-
Median
Average
Santa Monica DECEMBER STATS Key Facts:
$1,263,000 Median Sold Price
$1,913,000 Average Sold Price
174
DECEMBER DECEMBER %
` 2019 Median Price (in $1,000)
$1,565
2020 Change $1,263 -19%
Average Price Per Sq. Foot
$1,126
$1,013
Properties for Sale Properties Pending Sales
98
174 78%
26
53 104%
Properties Sold Days on Market (Sold Homes)
48
76 58%
55
55 0%
2 Monthly Supply of Inventory Absorption Rate (Closed Sales) 49
Listings for Sale
53 Listings Pending
Listings Sold
55 Days On Market
2.3 15% 43.7 -11%
AVERAGE & MEDIAN PRICE $3,500 $2,500 $3,000
76
-10%
$1,913
$2,000
$2,593
$2,500 $1,500 $2,000
$1,263 $1,655
$1,500 $1,000 $1,000 $500 $500 $$-
Median
Average
Venice DECEMBER STATS Key Facts:
$1,797,000 Median Sold Price
$2,042,000
Average Sold Price
119
2019
2020
Change
Median Price (in $1,000)
$1,523
$1,797
18%
Average Price Per Sq. Foot
$1,090
$1,066
-2%
Properties for Sale
74
119 61%
Properties Pending Sales
16
24 50%
Properties Sold
18
34 89%
Days on Market (Sold Homes)
76
61 -20%
Monthly Supply of Inventory
4.1
3.5 -15%
Absorption Rate (Closed Sales) 24.3 28.6 18%
Listings for Sale
24
Listings Pending
DECEMBER DECEMBER %
AVERAGE & MEDIAN PRICE $3,000 $3,500 $2,042
$2,500 $3,000
34
$1,797 $2,593
$2,500 $2,000
Listings Sold $2,000 $1,500
61
Days On Market
$1,655
$1,500 $1,000 $1,000 $500 $500
$-$Dec Jan Feb Mar 2019 2020 2020 2020
Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
West Hollywood DECEMBER STATS Key Facts:
$1,797,000
Median Sold Price
$2,042,000
Average Sold Price
119
DECEMBER DECEMBER %
` 2019
2020
Change
Median Price (in $1,000)
$1,523
$1,797
18%
Average Price Per Sq. Foot
$1,090
$1,066
-2%
Properties for Sale
74
119 61%
Properties Pending Sales
16
24 50%
Properties Sold
18
34 89%
Days on Market (Sold Homes)
76
61 -20%
Monthly Supply of Inventory
4.1
3.5 -15%
Absorption Rate (Closed Sales) 24.3 28.6 18%
Listings for Sale
24
Listings Pending
AVERAGE & MEDIAN PRICE $3,000 $3,500 $2,500 $3,000
34
$2,042 $2,593
$2,500 $2,000
$1,797
Listings Sold $2,000 $1,500
61
Days On Market
$1,655
$1,500 $1,000 $1,000 $500 $500 $$-
Median
Average
West Los Angeles DECEMBER STATS Key Facts:
$980,000 Median Sold Price
$1,375,000
Average Sold Price
184
DECEMBER DECEMBER %
2019
2020
Change
Median Price (in $1,000)
$1,150
$980
-15%
Average Price Per Sq. Foot
$835
$909
9%
Properties for Sale
97
184 90%
Properties Pending Sales
26
48 85%
Properties Sold
32
47 47%
Days on Market (Sold Homes)
76
56 -26%
Monthly Supply of Inventory
3
3.9 30%
Absorption Rate (Closed Sales) 33
25.5 -23%
Listings for Sale
AVERAGE & MEDIAN PRICE $1,800
48
Listings Pending
$3,500 $1,600
$1,375
$1,400 $3,000
47
Listings Sold
$2,593 $980
$1,200 $2,500 $1,000 $2,000 $800
56
Days On Market
$1,655
$1,500 $600 $1,000 $400 $200 $500 $$-
Median
Average
Westchester DECEMBER STATS Key Facts:
$1,271,000
Median Sold Price
$1,350,000
Average Sold Price
26
DECEMBER DECEMBER %
` 2019
2020
Change
Median Price (in $1,000)
$1,340
$1,271
-5%
$697
$733
5%
Average Price Per Sq. Foot Properties for Sale
23
26 13%
Properties Pending Sales
17
22 29%
Properties Sold
29
32 10%
Days on Market (Sold Homes)
48
40 -17%
Monthly Supply of Inventory
0.8 0.8 0%
Absorption Rate (Closed Sales) 126.1 123.1 -2%
Listings for Sale
22
Listings Pending
AVERAGE & MEDIAN PRICE $1,800 $3,500
$1,350
$1,600
$1,271
$3,000 $1,400
32
Listings Sold
$2,593 $1,200 $2,500 $1,000 $2,000 $1,655
$800
40
Days On Market
$1,500 $600 $1,000 $400 $200 $500 $$-
Median
Average
Westwood/Century City DECEMBER STATS Key Facts:
$1,175,000 Median Sold Price
$1,551,000
Average Sold Price
210
2019
2020
Change
Median Price (in $1,000)
$1,150
$1,175
-4%
Average Price Per Sq. Foot
$952
$853
-5%
Properties for Sale
150
210 111%
Properties Pending Sales
36
57 -12%
Properties Sold
59
63 -34%
Days on Market (Sold Homes)
74
49 -5%
Monthly Supply of Inventory
2.5
3.3 209%
Absorption Rate (Closed Sales) 39.3
Listings for Sale
57
Listings Pending
DECEMBER DECEMBER %
30 -69%
AVERAGE & MEDIAN PRICE $2,500 $3,500
$3,000 $2,000
63
Listings Sold
$1,551 $2,593 $2,500 $1,500 $2,000
49
Days On Market
$1,175 $1,655
$1,500 $1,000 $1,000 $500 $500
$$Dec Jan Feb Mar 2019 2020 2020 2020
Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
WE A R E T HE COA ST RE/MAX Estate Properties 600+ Local Agents • 12 Offices Luxury Residential • International Commercial Division BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050 EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425 PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494
REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 310.378.7747
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225
PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999
MANHATTAN BEACH / DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700
TORRANCE 23740 Hawthorne Blvd. Torrance, CA 90505 310.378.9889
MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 310.577.5300
WEST LOS ANGELES 10500 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570
PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222
WESTCHESTER / SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000
FIND OUT WHAT YOUR HOME IS WORTH
CALL Maureen at 310.541.6416 RE/MAX Hall of Fame • RE/MAX Platinum & 100% Club CLHMS-Luxury Home Specialist • PV & Seniors Specialist