Local Market Report August 2014
Los Angeles - Westside At Rodeo Realty, we believe education is the key to helping clients make the best possible decisions about buying and selling homes. Our Local Market Reports provide comprehensive analyses of real estate trends in specific communities, versus quoting national, state, and/or county statistics. The fact is market conditions can vary greatly from neighborhood to neighborhood, and sometimes from one block to the next.
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Table of Contents Bel Air - Holmby Hills
2
Marina del Rey
16
Beverly Center - Miracle Mile
3
Mid Los Angeles
17
Beverly Hills
4
Mid Wilshire
18
Beverly Hills P.O.
5
Pacific Palisades
19
Beverlywood
6
Palms - Mar Vista
20
Brentwood
7
Playa Vista
21
Cheviot Hills - Rancho Park
8
Santa Monica
22
Culver City
9
Silverlake - Echo Park
23
Hancock Park - Wilshire
10
Hollywood
11
Sunset Strip Hollywood Hills West
24
Hollywood Hills East
12
Venice
25
Los Feliz
13
West Hollywood
26
Malibu
14
West Los Angeles
27
Malibu Beach
15
Westwood - Century City
28
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Bel Air-Holmby Hills
Aug. 2013
Aug. 2014
Median Price $1,755,000
$1,945,500
11%
Properties Sold
10
0%
10
%Change
Sales Volume $37,041,608
$28,496,800
-23%
Properties Pending Sale
17
-11%
Properties For Sale 141
118
-16%
Average Days on Market
77
33%
Months Supply of Inventory 6
5
-17%
Percent Under Contract
14.4%
19
58
13.5%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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7%
Beverly Center - Miracle Mile
Aug. 2013
Aug. 2014
Median Price $1,130,000
$1,237,500
10%
18
-33%
$23,737,000
-21%
24
20
-17%
Properties For Sale 65
71
9%
39
-36%
2
0%
Properties Sold
27
Sales Volume $30,044,115
Properties Pending Sale
Average Days on Market
61
Months Supply of Inventory 2
Percent Under Contract
36.9%
28.2%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
-24%
Beverly Hills
Aug. 2013
Aug. 2014
Median Price $5,211,000
$3,082,500
-41%
14
-42%
$73,542,426
-41%
12
-37%
95
-23%
91
40%
6
20%
12.6%
-18%
Properties Sold
24
Sales Volume $124,110,945
Properties Pending Sale
19
Properties For Sale 124
Average Days on Market
65
Months Supply of Inventory 5
Percent Under Contract
15.3%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Beverly Hills P.O.
Aug. 2013
Aug. 2014
Median Price $1,911,000
$2,460,000
29%
14
0%
$51,554,147
79%
9
-36%
137
-3%
86
5%
12
50%
6.6%
-34%
Properties Sold
14
Sales Volume $28,861,490
Properties Pending Sale
14
Properties For Sale 141
Average Days on Market
82
Months Supply of Inventory 8
Percent Under Contract
9.9%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Beverlywood
Aug. 2013
Aug. 2014
Median Price $740,000
$1,100,000
49%
19
27%
$20,627,000
62%
16
19
19%
Properties For Sale 71
71
0%
40
-7%
2
-33%
26.8%
19%
Properties Sold
15
Sales Volume $12,758,475
Properties Pending Sale
Average Days on Market
43
Months Supply of Inventory 3
Percent Under Contract
22.5%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Brentwood
Aug. 2013
Aug. 2014
Median Price $2,400,000
$2,275,000
-5%
22
-8%
$95,574,790
21%
20
54%
101
-4%
54
38%
4
-33%
19.8%
60%
Properties Sold
24
Sales Volume $78,855,740
Properties Pending Sale
13
Properties For Sale 105
Average Days on Market
39
Months Supply of Inventory 6
Percent Under Contract
12.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Cheviot Hills - Rancho Park
Aug. 2013
Aug. 2014
Median Price $1,343,750
$1,348,000
0%
10
0%
$17,385,300
22%
5
-50%
25
0%
15
-67%
3
200%
20.0%
-50%
Properties Sold
10
Sales Volume $14,219,500
Properties Pending Sale
10
Properties For Sale 25
Average Days on Market
45
Months Supply of Inventory 1
Percent Under Contract
40.0%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Culver City
Aug. 2013
Aug. 2014
Median Price $837,000
$830,100
-1%
13
-50%
$10,560,600
-51%
29
22
-24%
Properties For Sale 73
61
-16%
42
100%
2
100%
Properties Sold
26
Sales Volume $21,337,100
Properties Pending Sale
Average Days on Market
21
Months Supply of Inventory 1
Percent Under Contract
39.7%
36.1%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
-9%
Hancock Park - Wilshire
Aug. 2013
Aug. 2014
Median Price $1,125,000
$1,130,000
0%
33
32%
$50,188,010
54%
27
-4%
127
2%
48
0%
3
0%
21.3%
-5%
Properties Sold
25
Sales Volume $32,602,675
Properties Pending Sale
28
Properties For Sale 125
Average Days on Market
48
Months Supply of Inventory 3
Percent Under Contract
22.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Hollywood
Aug. 2013
Aug. 2014
Median Price $682,500
$728,000
Properties Sold
6
Sales Volume $2,710,000
Properties Pending Sale
5
Properties For Sale 32
Average Days on Market
32
Months Supply of Inventory 5
Percent Under Contract
15.6%
5 $2,793,000
7% -17% 3%
14
180%
42
31%
64
100%
2
-60%
33.3%
113%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Hollywood Hills East
Aug. 2013
Aug. 2014
Median Price $940,000
$1,160,000
23%
7
-63%
$9,874,900
-54%
18
13
-28%
Properties For Sale 81
75
-7%
33
0%
4
33%
17.3%
-22%
Properties Sold
19
Sales Volume $21,537,700
Properties Pending Sale
Average Days on Market
33
Months Supply of Inventory 3
Percent Under Contract
22.2%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Los Feliz
Aug. 2013
Aug. 2014
Median Price $893,500
$1,370,000
53%
19
-37%
$25,181,500
-7%
17
19
12%
Properties For Sale 86
94
9%
36
-51%
3
-25%
Properties Sold
30
Sales Volume $27,051,555
Properties Pending Sale
Average Days on Market
73
Months Supply of Inventory 4
Percent Under Contract
19.8%
20.2%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
2%
Malibu
Aug. 2013
Aug. 2014
Median Price $1,680,000
$1,875,000
12%
9
-31%
$15,103,500
-36%
27
42%
215
-13%
112
4%
Properties Sold
13
Sales Volume $23,739,000
Properties Pending Sale
19
Properties For Sale 248
Average Days on Market
108
Months Supply of Inventory 11
Percent Under Contract
7.7%
6
-45%
12.6%
64%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Malibu Beach
Aug. 2013
Aug. 2014
Median Price $8,374,125
$5,912,500
-29%
8
100%
$62,269,200
70%
5
150%
75
-15%
100
12%
12
-70%
6.7%
193%
Properties Sold
4
Sales Volume $36,584,250
Properties Pending Sale
2
Properties For Sale 88
Average Days on Market
89
Months Supply of Inventory 40
Percent Under Contract
2.3%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Marina del Rey
Aug. 2013
Aug. 2014
%Change
Median Price $1,062,500
$1,590,000
50%
2
-50%
$3,180,000
-30%
4
-20%
22
-4%
67
103%
3
0%
Properties Sold
4
Sales Volume $4,515,000
Properties Pending Sale
5
Properties For Sale 23
Average Days on Market
33
Months Supply of Inventory 3
Percent Under Contract
21.7%
18.2%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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-16%
Mid Los Angeles
Aug. 2013
Aug. 2014
Median Price $350,000
$455,900
30%
39
18%
$6,426,180
-16%
38
31%
159
-14%
47
68%
3
-40%
23.9%
52%
Properties Sold
33
Sales Volume $7,672,000
Properties Pending Sale
29
Properties For Sale 185
Average Days on Market
28
Months Supply of Inventory 5
Percent Under Contract
15.7%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Mid Wilshire
Aug. 2013
Aug. 2014
Median Price $500,000
$655,500
31%
6
20%
$3,496,000
40%
5
-29%
25
-44%
49
75%
3
-40%
20.0%
29%
Properties Sold
5
Sales Volume $2,505,000
Properties Pending Sale
7
Properties For Sale 45
Average Days on Market
28
Months Supply of Inventory 5
Percent Under Contract
15.6%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Pacific Palisades
Aug. 2013
Aug. 2014
%Change
Median Price $2,201,000
$2,225,000
1%
Properties Sold
39
Sales Volume $104,403,535
Properties Pending Sale
35
Properties For Sale 129
Average Days on Market
64
Months Supply of Inventory 2
Percent Under Contract
27.1%
23
-41%
$58,431,819
-44%
23
-34%
110
-15%
44
-31%
3
50%
20.9%
-23%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Palms - Mar Vista
Aug. 2013
Aug. 2014
Median Price $923,000
$942,960
Properties Sold
36
Sales Volume $30,690,323
Properties Pending Sale
26
Properties For Sale 84
Average Days on Market
26
Months Supply of Inventory 2
Percent Under Contract
31.0%
2%
26
-28%
$25,135,920
-18%
31
19%
100
19%
25
-4%
2
0%
31.0%
0%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Playa Vista
Aug. 2013
Aug. 2014
Median Price $1,370,000
$1,187,500
-13%
2
-33%
$2,375,000
-38%
1
0
-100%
Properties For Sale 7
5
-29%
Properties Sold
3
Sales Volume $3,832,000
Properties Pending Sale
Average Days on Market
%Change
9
n/a
#VALUE!
Months Supply of Inventory 4
n/a
#VALUE!
Percent Under Contract
14.3%
0.0%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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-100%
Santa Monica
Aug. 2013
Aug. 2014
%Change
Median Price $1,950,000
$1,937,500
-1%
22
-19%
$39,845,374
-33%
Properties Sold
27
Sales Volume $59,154,050
Properties Pending Sale
22
22
0%
Properties For Sale 94
75
-20%
37
-12%
2
-33%
29.3%
25%
Average Days on Market
42
Months Supply of Inventory 3
Percent Under Contract
23.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Silverlake - Echo Park
Aug. 2013
Aug. 2014
Median Price $701,500
$620,000
-12%
17
-47%
$10,583,000
-38%
27
-10%
112
8%
31
-16%
2
0%
Properties Sold
32
Sales Volume $17,113,575
Properties Pending Sale
30
Properties For Sale 104
Average Days on Market
37
Months Supply of Inventory 2
Percent Under Contract
28.8%
24.1%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
-16%
Sunset Strip - Hollywood Hills West
Aug. 2013
Aug. 2014
Median Price $1,398,000
$1,850,000
32%
31
-31%
$66,267,000
-19%
41
32%
265
-8%
76
73%
4
-50%
15.5%
44%
Properties Sold
45
Sales Volume $81,422,795
Properties Pending Sale
31
Properties For Sale 289
Average Days on Market
44
Months Supply of Inventory 8
Percent Under Contract
10.7%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Venice
Aug. 2013
Aug. 2014
Median Price $1,315,000
$1,800,000
37%
15
-32%
$31,628,660
-11%
26
15
-42%
Properties For Sale 93
58
-38%
76
153%
3
50%
25.9%
-7%
Properties Sold
22
Sales Volume $35,566,400
Properties Pending Sale
Average Days on Market
30
Months Supply of Inventory 2
Percent Under Contract
28.0%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
West Hollywood
Aug. 2013
Aug. 2014
Median Price $1,175,000
$1,543,125
31%
10
11%
$14,716,875
7%
14
56%
51
-2%
47
27%
2
-50%
27.5%
59%
Properties Sold
9
Sales Volume $13,803,500
Properties Pending Sale
9
Properties For Sale 52
Average Days on Market
37
Months Supply of Inventory 4
Percent Under Contract
17.3%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
West Los Angeles
Aug. 2013
Aug. 2014
Median Price $810,000
$860,000
6%
11
57%
$7,288,450
44%
14
14
0%
Properties For Sale 33
39
18%
40
54%
1
0%
Properties Sold
7
Sales Volume $5,067,500
Properties Pending Sale
Average Days on Market
26
Months Supply of Inventory 1
Percent Under Contract
42.4%
35.9%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
-15%
Westwood - Century City
Aug. 2013
Aug. 2014
Median Price $1,460,000
$1,845,000
26%
17
0%
$35,052,788
35%
12
17
42%
Properties For Sale 61
52
-15%
24
-11%
2
-33%
32.7%
66%
Properties Sold
17
Sales Volume $25,903,565
Properties Pending Sale
Average Days on Market
27
Months Supply of Inventory 3
Percent Under Contract
19.7%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
RODEO REALTY MARKETING DEPARTMENT