Local Market Report December 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
24
Hollywood
11
Sunset Strip Hollywood Hills West
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
Dec. 2013
Median Price $1,538,000
Properties Sold
10
Sales Volume $19,330,500
Properties Pending Sale
8
Properties For Sale 105
Average Days on Market
118
Months Supply of Inventory 11
Percent Under Contract
7.6%
Dec. 2014
%Change
$1,750,000
14%
13
30%
$41,552,700
115%
9
13%
98
-7%
104
-12%
7
-36%
9.2%
21%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Center - Miracle Mile
Dec. 2013
Median Price $1,267,500
Properties Sold
14
Sales Volume $18,329,313
Properties Pending Sale
11
Properties For Sale 49
Average Days on Market
43
Months Supply of Inventory 3
Percent Under Contract
22.4%
Dec. 2014
%Change
$1,330,000
5%
10
-29%
$15,670,325
-15%
7
-36%
45
-8%
74
72%
4
33%
15.6%
-31%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills
Dec. 2013
Median Price $6,219,900
Properties Sold
12
Sales Volume $84,063,799
Properties Pending Sale
7
Properties For Sale 91
Average Days on Market
91
Months Supply of Inventory 10
Percent Under Contract
7.7%
Dec. 2014
%Change
$5,307,500
-15%
10
-17%
$118,963,000
42%
7
0%
81
-11%
106
16%
8
-20%
8.6%
12%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Beverly Hills P.O.
Dec. 2013
Median Price $2,062,500
Properties Sold
12
Sales Volume $34,959,500
Properties Pending Sale
8
Properties For Sale 122
Average Days on Market
86
Months Supply of Inventory 12
Percent Under Contract
6.6%
Dec. 2014
%Change
$3,225,000
56%
14
17%
$83,501,600
139%
10
25%
111
-9%
122
42%
8
-33%
9.0%
37%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Beverlywood
Dec. 2013
Median Price $1,250,000
Properties Sold
15
Sales Volume $17,487,500
Properties Pending Sale
7
Properties For Sale 53
Average Days on Market
32
Months Supply of Inventory 5
Percent Under Contract
13.2%
Dec. 2014
%Change
$874,900
-30%
12
-20%
$11,176,151
-36%
8
14%
32
-40%
44
38%
2
-60%
25.0%
89%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Brentwood
Dec. 2013
Dec. 2014
%Change
$2,099,855
-13%
28
17%
$69,896,970
-26%
15
14
-7%
Properties For Sale 84
73
-13%
62
0%
3
-25%
Median Price $2,402,777
Properties Sold
24
Sales Volume $94,073,285
Properties Pending Sale
Average Days on Market
62
Months Supply of Inventory 4
Percent Under Contract
17.9%
19.2%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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7%
Cheviot Hills - Rancho Park
Dec. 2013
Median Price $1,350,000
Properties Sold
9
Sales Volume $11,739,000
Properties Pending Sale
3
Properties For Sale 14
Average Days on Market
42
Months Supply of Inventory 3
Percent Under Contract
21.4%
Dec. 2014
%Change
$1,425,000
6%
8
-11%
$11,635,250
-1%
6
100%
14
0%
32
-24%
1
-67%
42.9%
100%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Culver City
Dec. 2013
Median Price $886,050
Properties Sold
15
Sales Volume $14,053,650
Properties Pending Sale
8
Properties For Sale 35
Average Days on Market
32
Months Supply of Inventory 3
Percent Under Contract
22.9%
Dec. 2014
%Change
$922,000
4%
14
-7%
$13,251,250
-6%
10
25%
30
-14%
19
-41%
2
-33%
33.3%
46%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hancock Park - Wilshire
Dec. 2013
Median Price $1,150,000
Properties Sold
25
Sales Volume $37,386,780
Properties Pending Sale
18
Properties For Sale 102
Average Days on Market
41
Months Supply of Inventory 4
Percent Under Contract
17.6%
Dec. 2014
%Change
$1,603,500
39%
18
-28%
$40,177,000
7%
18
0%
71
-30%
64
56%
2
-50%
25.4%
44%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hollywood
Dec. 2013
Median Price $489,500
Properties Sold
4
Sales Volume $2,101,000
Properties Pending Sale
0
Properties For Sale 9
Average Days on Market
n/a
Months Supply of Inventory n/a
Percent Under Contract
0.0%
Dec. 2014
%Change
$800,000
63%
5
25%
$3,999,000
90%
4 20 57 2 20.0%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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122%
Hollywood Hills East
Dec. 2013
Median Price $1,510,500
Properties Sold
6
Sales Volume $6,858,320
Properties Pending Sale
11
Properties For Sale 55
Average Days on Market
74
Months Supply of Inventory 3
Percent Under Contract
20.0%
Dec. 2014
%Change
$1,375,000
-9%
9
50%
$15,122,000
120%
6
-45%
48
-13%
52
-30%
5
67%
12.5%
-38%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Los Feliz
Dec. 2013 Median Price $1,685,000
Dec. 2014
%Change
$1,417,900
-16%
Properties Sold 17 Sales Volume $26,841,750
16
-6%
$24,102,800
-10%
14
13
-7%
Properties For Sale 72
54
-25%
51
96%
2
-33%
24.1%
24%
Properties Pending Sale
Average Days on Market
26
Months Supply of Inventory 3
Percent Under Contract
19.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu
Dec. 2013
Median Price $3,435,000
Properties Sold
16
Sales Volume $47,341,000
Properties Pending Sale
7
Properties For Sale 186
Average Days on Market
150
Months Supply of Inventory 22
Percent Under Contract
3.8%
Dec. 2014
%Change
$2,512,500
-27%
16
0%
$44,404,777
-6%
18
157%
165
-11%
138
-8%
7
-68%
10.9%
190%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu Beach
Dec. 2013
Median Price $4,350,000
Properties Sold
8
Sales Volume $54,518,126
Properties Pending Sale
2
Properties For Sale 64
Average Days on Market
140
Months Supply of Inventory 28
Percent Under Contract
3.1%
Dec. 2014
%Change
$4,700,000
8%
3
-63%
$11,550,000
-79%
4
100%
60
-6%
206
47%
12
-57%
6.7%
113%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Marina del Rey
Dec. 2013
Median Price $1,695,000
Properties Sold
3
Sales Volume $4,558,000
Properties Pending Sale
2
Properties For Sale 21
Average Days on Market
123
Months Supply of Inventory 8
Percent Under Contract
9.5%
Dec. 2014
%Change
$1,602,500
-5%
2
-33%
$3,205,000
-30%
3
50%
18
-14%
76
-38%
3
-63%
16.7%
75%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Mid Los Angeles
Dec. 2013
Median Price $493,000
Properties Sold
20
Dec. 2014
%Change
$515,000
4%
17
-15%
$8,862,000
-15%
12
15
25%
Properties For Sale 67
61
-9%
92
42%
2
-50%
24.6%
37%
Sales Volume $10,423,900
Properties Pending Sale
Average Days on Market
65
Months Supply of Inventory 4
Percent Under Contract
17.9%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Mid Wilshire
Dec. 2013
Median Price $486,250
Properties Sold
2
Sales Volume $647,500
Properties Pending Sale
1
Properties For Sale 17
Average Days on Market
31
Months Supply of Inventory 12
Percent Under Contract
5.9%
Dec. 2014
%Change
$572,500
18%
4
100%
$1,935,000
199%
4
300%
20
18%
56
81%
3
-75%
20.0%
240%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Pacific Palisades
Dec. 2013
Median Price $2,785,000
Properties Sold
23
Sales Volume $75,262,351
Properties Pending Sale
8
Properties For Sale 94
Average Days on Market
63
Months Supply of Inventory 9
Percent Under Contract
8.5%
Dec. 2014
%Change
$1,990,000
-29%
15
-35%
$41,431,451
-45%
11
38%
89
-5%
78
24%
5
-44%
12.4%
45%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Palms - Mar Vista
Dec. 2013
Dec. 2014
%Change
$1,177,500
12%
28
4%
$35,664,000
13%
15
25
67%
Properties For Sale 54
53
-2%
48
-28%
1
-50%
47.2%
70%
Median Price $1,050,000
Properties Sold
27
Sales Volume $31,462,860
Properties Pending Sale
Average Days on Market
67
Months Supply of Inventory 2
Percent Under Contract
27.8%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Playa Vista
Dec. 2013
Median Price $1,460,000
Properties Sold
1
Sales Volume $1,460,000
Properties Pending Sale
Dec. 2014
%Change
$2,020,000
38%
1
0%
$2,020,000
38%
1
0
-100%
Properties For Sale 6
3
-50%
Average Days on Market
11
Months Supply of Inventory 5
Percent Under Contract
16.7%
n/a n/a 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
Dec. 2013
Median Price $1,510,000
Properties Sold
21
Sales Volume $41,896,811
Properties Pending Sale
7
Properties For Sale 63
Average Days on Market
50
Months Supply of Inventory 7
Percent Under Contract
11.1%
Dec. 2014
%Change
$2,395,000
59%
21
0%
$56,146,001
34%
14
100%
58
-8%
39
-22%
2
-71%
24.1%
117%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Silverlake - Echo Park
Dec. 2013
Median Price $822,500
Properties Sold
25
Sales Volume $2,087,650
Properties Pending Sale
6
Properties For Sale 50
Average Days on Market
28
Months Supply of Inventory 7
Percent Under Contract
12.0%
Dec. 2014
%Change
$735,372
-11%
22
-12%
$17,240,745
726%
18
200%
60
20%
66
136%
2
-71%
30.0%
150%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Sunset Strip - Hollywood Hills West
Dec. 2013
Median Price $1,656,500
Properties Sold
28
Sales Volume $74,798,000
Properties Pending Sale
20
Properties For Sale 242
Average Days on Market
71
Months Supply of Inventory 9
Percent Under Contract
8.3%
Dec. 2014
%Change
$1,715,000
4%
32
14%
$83,818,500
12%
31
55%
223
-8%
75
6%
4
-56%
13.9%
68%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Venice
Dec. 2013
Median Price $1,585,000
Properties Sold
25
Sales Volume $43,507,500
Properties Pending Sale
16
Properties For Sale 46
Average Days on Market
41
Months Supply of Inventory 2
Percent Under Contract
34.8%
Dec. 2014
%Change
$1,700,000
7%
17
-32%
$32,931,250
-24%
6
-63%
46
0%
61
49%
5
150%
13.0%
-63%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Hollywood
Dec. 2013
Dec. 2014
%Change
$949,000
-25%
11
38%
$12,968,000
15%
13
10
-23%
Properties For Sale 47
43
-9%
46
-4%
2
0%
Median Price $1,261,250
Properties Sold
8
Sales Volume $11,322,270
Properties Pending Sale
Average Days on Market
48
Months Supply of Inventory 2
Percent Under Contract
27.7%
23.3%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-16%
West Los Angeles
Dec. 2013
Median Price $835,500
Properties Sold
8
Sales Volume $7,060,000
Properties Pending Sale
1
Properties For Sale 13
Average Days on Market
107
Months Supply of Inventory 8
Percent Under Contract
7.7%
Dec. 2014
%Change
$868,000
4%
7
-13%
$6,743,000
-4%
8
700%
21
62%
39
-64%
1
-88%
38.1%
395%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Westwood - Century City
Dec. 2013
Median Price $1,543,000
Properties Sold
22
Sales Volume $36,651,260
Properties Pending Sale
7
Properties For Sale 32
Average Days on Market
26
Months Supply of Inventory 3
Percent Under Contract
21.9%
Dec. 2014
%Change
$1,665,000
8%
10
-55%
$17,916,765
-51%
5
-29%
39
22%
92
254%
4
33%
12.8%
-41%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
RODEO REALTY MARKETING DEPARTMENT