Vol. III Nov 2017
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, Palms/Mar Vista, Marina Del Rey, Playa Del Rey, Playa Vista, Westchester, Venice, West Hollywood, Inglewood, Sherman Oaks, Pacific Palisades, Westwood/ Century City, Brentwood, Hollywood, Cheviot Hills, West Los Angeles, and Beverlywood.
Donna Westgate MBA, CRP Relocation Director
310-200-4051
donnawestgatela@gmail.com CalBRE# 01134554 Full-Time Relocation Department Single Point Coordination Trained Relocation Sales Executives
63 Malaga Cove Plaza Palos Verdes Estates, CA 90274
700+ 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 HERMOSA BEACH 2601 Pacific Coast Hwy. #101 Hermosa Beach, CA 90254 Phone: 310.937.3200
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 Silicon BEACH WESTCHESTER 7131 W. Manchester Ave. Los Angeles, CA 90045 Phone: 310.802.6000
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
Beverly Hills 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 November 2017 are based on data available at the end of October 2017. 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
Beverly Hills October Stats Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$2,126
$2,600
22%
Average Price Per Sq. Foot
$1,056
$1,277
21%
Properties for Sale
124
118 -5%
Properties Pending Sales
25
22 -12%
Properties Sold
35
21 -40%
Days on Market (Sold Homes)
64
72 13%
Monthly Supply of Inventory
3.5
5.6 60%
Absorption Rate (closed sales)
28.2
17.8 -37%
$7,000
$2,600,000
Median Sold Price
$5,349,000 Average Sold Price
118 Listings for Sale
Avg. & Median Price by Month
22
$3,500
$6,000
$5,349
$3,000
$5,000
$2,593
Listings Pending
$2,500
$4,000 $2,000 $1,655
$3,000 $1,500
$2,600
21 Listings Sold
$2,000 $1,000 $1,000 $500
72
$- $-
Days On Market Median
Average
Beverlywood October Stats
$1,498,000
Median Sold Price
$1,550,000
Average Sold Price
39 Listings for Sale
Year Over Year
Oct. Oct. 2016 2017
Median Price
$915
$1,498
64%
Average Price Per Sq. Foot
$632
$736
16%
Properties for Sale
45
39 -13%
Properties Pending Sales
20
18 -10%
Properties Sold
17
13 -24%
Days on Market (Sold Homes)
45
51 13%
Monthly Supply of Inventory
2.3
2.2 -4%
Absorption Rate (closed sales)
37.8
33.3 -12%
$2,000
18 Listings Pending
% Change
Avg. & Median Price by Month
$3,500 $1,800
$1,550
$1,600 $3,000
$1,498 $2,593
$1,400 $2,500 $1,200
13 Listings Sold
$2,000 $1,000
$1,655
$800 $1,500 $600 $1,000 $400
51
$500 $200 $- $-
Days On Market Median
Average
Brentwood October Stats Year Over Year
Oct. Oct. 2016 2017
Median Price
$1,410
$1,600
13%
Average Price Per Sq. Foot
$929
$908
-2%
Properties for Sale
135
116 -14%
Properties Pending Sales
41
46 12%
Properties Sold
37
37 0%
Days on Market (Sold Homes)
72
59 -18%
Monthly Supply of Inventory
3.3
2.5 -24%
Absorption Rate (closed sales)
27.4
31.9 16%
$4,000
% Change
$1,600,000
Median Sold Price
$2,708,000
Average Sold Price
116 Listings for Sale
Avg. & Median Price by Month
46
$3,500 $3,500
$2,708
$3,000 $3,000
$2,593
Listings Pending
$2,500 $2,500 $2,000 $2,000
$1,655 $1,600
$1,500 $1,500
37 Listings Sold
$1,000 $1,000 $500 $500
59
$- $-
Days On Market Median
Average
Cheviot Hills October Stats
$2,755,000
Median Sold Price
Year Over Year
Oct. Oct. 2016 2017
Median Price
$1,160
$2,755
138%
$718
$732
2%
Average Price Per Sq. Foot
$2,755,000
Average Sold Price
15 Listings for Sale
% Change
Properties for Sale
22
15 -32%
Properties Pending Sales
8
6 -25%
Properties Sold
3
2 -33%
Days on Market (Sold Homes)
68
100 47%
Monthly Supply of Inventory
7.3 7.5 3%
Absorption Rate (closed sales)
13.6 13.3 -2%
Avg. & Median Price by Month
6 Listings Pending
$2,755
$3,500 $3,000
$2,755
$3,000 $2,500 $2,593 $2,500 $2,000
2 Listings Sold
100
$2,000 $1,655
$1,500 $1,500
$1,000 $1,000
$500 $500 $$-
Days On Market Median
Average
Culver City October Stats Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$846
$946
12%
Average Price Per Sq. Foot
$584
$754
29%
Properties for Sale
34
52 53%
Properties Pending Sales
37
33 -11%
Properties Sold
29
31 7%
Days on Market (Sold Homes)
40
34 -15%
Monthly Supply of Inventory
1.2
1.7 42%
Absorption Rate (closed sales)
85.3
59.6 -30%
$946,000
Median Sold Price
$974,000
Average Sold Price
52 Listings for Sale
Avg. & Median Price by Month $1,200 $3,500 $974
$1,000 $3,000
$946 $2,593
33 Listings Pending
$2,500 $800 $2,000 $600
$1,655
$1,500
31 Listings Sold
$400 $1,000
$200 $500
34
$- $-
Days On Market Median
Average
Hollywood October Stats
$825,000
Median Sold Price
$937,000 Average Sold Price
56 Listings for Sale
Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$831
$825
-1%
Average Price Per Sq. Foot
$629
$589
-6%
Properties for Sale
52
56 8%
Properties Pending Sales
25
22 -12%
Properties Sold
17
17 0%
Days on Market (Sold Homes)
32
45 41%
Monthly Supply of Inventory
2.1
2.5 19%
Absorption Rate (closed sales)
32.7 30.4 -7%
Avg. & Median Price by Month
22 Listings Pending
$1,200 $3,500 $937 $3,000 $1,000 $2,593 $825
$2,500 $800
17 Listings Sold
45
$2,000 $600
$1,655
$1,500
$400 $1,000
$200 $500 $$-
Days On Market Median
Average
Inglewood October Stats Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$448
$475
6%
Average Price Per Sq. Foot
$333
$380
14%
Properties for Sale
43
51 19%
Properties Pending Sales
26
32 23%
Properties Sold
24
39 63%
Days on Market (Sold Homes)
55
32 -42%
Monthly Supply of Inventory
1.8
1.3 -28%
Absorption Rate (closed sales)
55.8
76.5 37%
$600
$475,000
Median Sold Price
$506,000 Average Sold Price
51 Listings for Sale
Avg. & Median Price by Month
$3,500
$506
$500 $3,000
$475 $2,593
$400 $2,500
$2,000 $300
$1,655
$1,500 $200
32 Listings Pending
39 Listings Sold
$1,000
$100 $500
32
$- $-
Days On Market Median
Average
Marina Del Rey October Stats
$982,000
Median Sold Price
Year Over Year
Oct. Oct. 2016 2017
Median Price Average Price Per Sq. Foot
$1,275,000 Average Sold Price
74 Listings for Sale
Listings Pending
$1,075
$982
-9%
$647
$715
11%
Properties for Sale
79
74 -6%
Properties Pending Sales
33
44 33%
Properties Sold
39
38 -3%
Days on Market (Sold Homes)
53
45 -15%
Monthly Supply of Inventory
2
1.9 -5%
Absorption Rate (closed sales)
$1,400
44
% Change
49.4 51.4 4%
Avg. & Median Price by Month
$3,500
$1,275
$1,200 $3,000
$982
$1,000
$2,593
$2,500
$800
38 Listings Sold
45
$2,000 $1,655
$600 $1,500 $400 $1,000 $200 $500 $- $-
Days On Market Median
Average
Pacific Palisades October Stats Year Over Year
Oct. Oct. 2016 2017
Median Price
% Change
$1,798
$2,775
54%
Average Price Per Sq. Foot
$955
$889
-7%
Properties for Sale
104
74 -29%
Properties Pending Sales
38
30 -21%
Properties Sold
30
33 10%
Days on Market (Sold Homes)
70
71 1%
Monthly Supply of Inventory
3.5
2.2 -37%
Absorption Rate (closed sales) 28.8
44.6 55%
$2,775,000
Median Sold Price
$3,092,000 Average Sold Price
74 Listings for Sale
Avg. & Median Price by Month
30
$3,500 $5,000
$4,500 $3,000 $4,000
$2,593
Listings Pending
$2,500 $3,500
$3,092 $3,000 $2,000
$2,775 $1,655
$2,500 $1,500 $2,000
33 Listings Sold
$1,500 $1,000 $1,000 $500 $500
71
$- $-
Days On Market Median
Average
Palms/Mar Vista October Stats
$1,378,000
Median Sold Price
Year Over Year
Oct. Oct. 2016 2017
Median Price Average Price Per Sq. Foot
$1,525,000 Average Sold Price
54 Listings for Sale
% Change
$1,166
$1,378
18%
$733
$771
5%
Properties for Sale
56
54 -4%
Properties Pending Sales
41
41 0%
Properties Sold
30
46 53%
Days on Market (Sold Homes)
42
50 19%
Monthly Supply of Inventory
1.9
1.2 -37%
Absorption Rate (closed sales)
53.6 85.2 59%
Avg. & Median Price by Month
41 Listings Pending
$3,500 $1,800
$1,525
$1,600 $3,000
$1,378$2,593
$1,400 $2,500 $1,200
46 Listings Sold
$2,000 $1,000
$1,655
$800 $1,500 $600 $1,000 $400
50
$500 $200 $- $-
Days On Market Median
Average
Playa del Rey October Stats Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$635
$633
0%
Average Price Per Sq. Foot
$520
$607
17%
Properties for Sale
27
23 -15%
Properties Pending Sales
20
18 -10%
Properties Sold
18
14 -22%
Days on Market (Sold Homes)
43
28 -35%
Monthly Supply of Inventory
1.5
1.6 7%
Absorption Rate (closed sales)
66.7
60.9 -9%
$1,400
Median Sold Price
$803,000 Average Sold Price
23 Listings for Sale
Avg. & Median Price by Month
18
$3,500
$1,200 $3,000
$1,000
$803 $2,593
$2,500
$800 $2,000
$633 $1,655
$600 $1,500
Listings Pending
14 Listings Sold
$400 $1,000 $200 $500
$-
$633,000
28
$-
Days On Market Median
Average
Playa Vista October Stats
$1,125,000
Median Sold Price
$1,379,000 Average Sold Price
14 Listings for Sale
Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$984
$1,125
14%
Average Price Per Sq. Foot
$567
$686
21%
Properties for Sale
31
14 -55%
Properties Pending Sales
12
14 17%
Properties Sold
11
14 27%
Days on Market (Sold Homes)
56
33 -41%
Monthly Supply of Inventory
2.8
1 -64%
Absorption Rate (closed sales)
35.5
100 182%
Avg. & Median Price by Month
14 Listings Pending
$1,600 $3,500 $1,400 $3,000
$1,379
$1,200
$1,125$2,593
$2,500
$1,000
14 Listings Sold
33
$2,000 $800
$1,655
$1,500 $600 $1,000$400 $500$200 $- $-
Days On Market Median
Average
Santa Monica October Stats Year Over Year
Oct. Oct. 2016 2017
Median Price
% Change
$1,300
$1,686
30%
Average Price Per Sq. Foot
$953
$1,141
20%
Properties for Sale
130
113 -13%
Properties Pending Sales
59
56 -5%
Properties Sold
42
44 5%
Days on Market (Sold Homes)
50
47 -6%
Monthly Supply of Inventory
3.1
2.6 -16%
Absorption Rate (closed sales) 32.3
38.9 20%
$1,686,000
Median Sold Price
$2,221,000
Average Sold Price
113 Listings for Sale
Avg. & Median Price by Month $3,500 $2,500
56
$2,221
$3,000
$2,000
$2,593
$2,500
Listings Pending
$1,686
$1,500 $2,000 $1,655 $1,500 $1,000
44 Listings Sold
$1,000
$500 $500
47
$- $-
Days On Market Median
Average
Sherman Oaks October Stats
$915,000
Median Sold Price
$1,097,000
Average Sold Price
136
Listings for Sale
Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$850
$915
8%
Average Price Per Sq. Foot
$479
$517
8%
Properties for Sale
221
136 -38%
Properties Pending Sales
72
91 26%
Properties Sold
98
80 -18%
Days on Market (Sold Homes)
64
49 -23%
Monthly Supply of Inventory
2.3
1.7 -26%
Absorption Rate (closed sales)
44.3 58.8 33%
Avg. & Median Price by Month
91
Listings Pending
$3,500 $1,200
$1,097 $3,000 $1,000
$915
$2,593
$2,500 $800
80 Listings Sold
$2,000 $1,655
$600 $1,500
$400 $1,000
$200 $500
49
$-
$-
Days On Market Median
Average
Venice October Stats Year Over Year
Oct. Oct. 2016 2017
Median Price
$1,618
$1,921
19%
Average Price Per Sq. Foot
$1,028
$1,209
18%
% Change
Properties for Sale
86
73 -15%
Properties Pending Sales
28
32 14%
Properties Sold
24
17 -29%
Days on Market (Sold Homes)
60
63 5%
Monthly Supply of Inventory
3.6
4.3 19%
Absorption Rate (closed sales)
27.9
23.3 -16%
$1,921,000
Median Sold Price
$1,927,000
Average Sold Price
73
Listings for Sale
Avg. & Median Price by Month $3,000 $3,500
32
$2,500 $3,000 $2,593 $1,927 $1,921
$2,500 $2,000 $2,000 $1,500
$1,655
$1,500
Listings Pending
17 Listings Sold
$1,000 $1,000
$500 $500
$-
63
$-
Days On Market Median
Average
West Hollywood October Stats
$870,000
Median Sold Price
$1,125,000 Average Sold Price
114 Listings for Sale
Year Over Year
Oct. Oct. 2016 2017
Median Price
% Change
$1,020
$870
-15%
Average Price Per Sq. Foot
$774
$761
-2%
Properties for Sale
121 114 -6%
Properties Pending Sales
39
44 13%
Properties Sold
47
51 9%
Days on Market (Sold Homes)
50
63 26%
Monthly Supply of Inventory
2.6
2.2 -15%
Absorption Rate (closed sales)
38.8 44.7 15%
Avg. & Median Price by Month
44 Listings Pending
51 Listings Sold
63
$3,500 $1,600
$1,400 $3,000 $1,125
$1,200 $2,500 $1,000 $2,000
$870 $1,655
$800 $1,500 $600 $1,000 $400 $500 $200
$-
$2,593
$-
Days On Market Median
Average
West Los Angeles October Stats Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$890
$877
-1%
Average Price Per Sq. Foot
$581
$689
19%
Properties for Sale
47
32 -32%
Properties Pending Sales
24
24 0%
Properties Sold
23
26 13%
Days on Market (Sold Homes)
32
37 16%
Monthly Supply of Inventory
2
1.2 -40%
Absorption Rate (closed sales) 48.9
$1,400
81.3 66%
$877,000
Median Sold Price
$1,022,000 Average Sold Price
32 Listings for Sale
Avg. & Median Price by Month
$3,500
$1,200
$1,022
$3,000
$1,000
$2,593 $877
$2,500
24 Listings Pending
$800 $2,000 $1,655
$600 $1,500
$1,000
$500
$-
26 Listings Sold
$400
$200
37
$-
Days On Market Median
Average
Westchester October Stats
$1,089,000
Median Sold Price
Year Over Year
Oct. Oct. 2016 2017
Median Price Average Price Per Sq. Foot
$1,231,000
Average Sold Price
33 Listings for Sale
% Change
$1,045
$1,089
4%
$618
$628
2%
Properties for Sale
57
33 -42%
Properties Pending Sales
32
41 28%
Properties Sold
29
38 31%
Days on Market (Sold Homes)
49
50 2%
Monthly Supply of Inventory
2
0.9 -55%
50.9
115.2 126%
Absorption Rate (closed sales)
Avg. & Median Price by Month
41 Listings Pending
$3,500 $1,400
$1,231 $3,000 $1,200
$1,089 $2,593
$2,500 $1,000
38 Listings Sold
50
$800 $2,000 $1,655
$600 $1,500 $400 $1,000 $200 $500 $- $-
Days On Market Median
Average
Westwood/Century City October Stats Year Over Year
Oct. Oct. 2016 2017
Median Price
% Change
$1,036
$1,090
5%
Average Price Per Sq. Foot
$748
$726
-3%
Properties for Sale
159 153 -4%
Properties Pending Sales
56
62 11%
Properties Sold
76
43 -43%
Days on Market (Sold Homes)
64
40 -38%
Monthly Supply of Inventory
2.1
3.6 71%
Absorption Rate (closed sales)
47.8
28.1 -41%
$1,090,000 Median Sold Price
$1,272,000 Average Sold Price
153 Listings for Sale
Avg. & Median Price by Month $3,500
$1,800
62
$1,600 $3,000
$1,400
$1,272
$2,500 $1,200
$2,593
$1,090
$2,000 $1,000
$1,500
$1,655
$800
$400
$500 $200 $-
43 Listings Sold
$600 $1,000
Listings Pending
40
$-
Days On Market Median
Average
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Notes:
Donna Westgate MBA, CRP Relocation Director
310-200-4051
donnawestgatela@gmail.com CalBRE# 01134554 Full-Time Relocation Department Single Point Coordination Trained Relocation Sales Executives
63 Malaga Cove Plaza Palos Verdes Estates, CA 90274