Local Market Report
Los Angeles - Westside December 2013 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
Dec. 2012
Dec. 2013
%Change
Median Price $2,059,000
$1,526,000
-26
Properties Sold
9
-50
Sales Volume $79,958,087
$16,000,500
-80
Properties Pending Sale
9
-31
Properties For Sale 126
99
-21
Average Days on Market
137
-29
18
13
192
Month’s Supply of Inventory 8
8
Percent Under Contract
9.1
10.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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0 -12
Beverly Center - Miracle Mile
Dec. 2012
Dec. 2013
%Change
Median Price $999,000
$1,235,000
24
13
-38
$16,088,000
-38
12
11
-8
Properties For Sale 50
44
-12
47
38
3
0
25.0
4
Properties Sold
21
Sales Volume $26,060,960
Properties Pending Sale
Average Days on Market
34
Month’s Supply of Inventory 3
Percent Under Contract
24.0
*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. 2012
Dec. 2013
%Change
Median Price $5,097,500
$5,939,800
17
13
-46
$84,063,799
-30
7
-46
76
-24
80
-42
7
17
9.2
-29
Properties Sold
24
Sales Volume $120,257,500
Properties Pending Sale
13
Properties For Sale 100
Average Days on Market
138
Month’s Supply of Inventory 6
Percent Under Contract
13.0
*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. 2012
Dec. 2013
%Change
Median Price $1,430,000
$2,062,500
44
12
-14
$34,959,500
32
10
0
110
11
81
-41
8
0
Properties Sold
14
Sales Volume $26,424,755
Properties Pending Sale
10
Properties For Sale 99
Average Days on Market
137
Month’s Supply of Inventory 8
Percent Under Contract
10.1
9.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-10
Beverlywood
Dec. 2012
Dec. 2013
%Change
Median Price $799,000
$1,287,500
61
14
-18
Properties Sold
17
Sales Volume $16,016,395
Properties Pending Sale
5
Properties For Sale 34
Average Days on Market
54
Month’s Supply of Inventory 5
Percent Under Contract
14.7
$17,057,500
7
9
80
45
32
44
-19
2
-60
20.0
36
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Brentwood
Dec. 2012
Dec. 2013
%Change
Median Price $2,150,000
$2,402,777
12
24
-25
$94,123,285
-14
21
15
-29
Properties For Sale 95
77
-19
58
-60
3
0
Properties Sold
32
Sales Volume $109,736,315
Properties Pending Sale
Average Days on Market
144
Month’s Supply of Inventory 3
Percent Under Contract
22.1
19.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-12
Cheviot Hills - Rancho Park
Dec. 2012
Dec. 2013
%Change
Median Price $1,395,000
$1,429,000
2
Properties Sold
9
Sales Volume $14,055,601
Properties Pending Sale
3
Properties For Sale 13
Average Days on Market
13
Month’s Supply of Inventory 3
Percent Under Contract
23.1
8
-11
$11,739,000
-16
5
67
15
15
88
577
1
-67
33.3
44
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Culver City
Dec. 2012
Dec. 2013
%Change
Median Price $649,000
$866,050
37
19
-14
$14,053,650
14
8
-38
39
-13
33
-20
3
50
20.5
-29
Properties Sold
22
Sales Volume $12,364,900
Properties Pending Sale
13
Properties For Sale 45
Average Days on Market
41
Month’s Supply of Inventory 2
Percent Under Contract
28.9
*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. 2012
Dec. 2013
%Change
Median Price $1,250,000
$1,150,000
-8
27
8
$37,844,780
-2
11
18
64
Properties For Sale 72
99
38
38
-53
3
-40
18.2
19
Properties Sold
25
Sales Volume $38,478,500
Properties Pending Sale
Average Days on Market
81
Month’s 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.
Rodeo Realty RodeoRE.com
Hollywood
Dec. 2012
Dec. 2013
%Change
Median Price $1,250,000
$500,000
-60
4
33
$2,101,000
-41
3
-50
15
-29
27
35
2
0
Properties Sold
3
Sales Volume $3,535,500
Properties Pending Sale
6
Properties For Sale 21
Average Days on Market
20
Month’s Supply of Inventory 2
Percent Under Contract
28.6
20.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-30
Hollywood Hills East
Dec. 2012
Dec. 2013
%Change
Median Price $950,000
$1,381,000
45
7
-65
$6,858,320
-61
13
44
48
-6
71
29
2
-50
27.1
53
Properties Sold
20
Sales Volume $17,414,500
Properties Pending Sale
9
Properties For Sale 51
Average Days on Market
55
Month’s Supply of Inventory 4
Percent Under Contract
17.6
*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. 2012
Dec. 2013
%Change
Median Price $880,000
$1,585,875
80
18
20
$26,841,750
83
15
15
0
Properties For Sale 89
87
-2
27
-61
3
-25
Properties Sold
15
Sales Volume $14,707,000
Properties Pending Sale
Average Days on Market
70
Month’s Supply of Inventory 4
Percent Under Contract
16.9
17.2
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
2
Malibu
Dec. 2012
Dec. 2013
%Change
Median Price $2,187,500
$3,435,000
57
14
-42
$40,876,000
-32
9
-10
Properties Sold
24
Sales Volume $59,888,829
Properties Pending Sale
10
Properties For Sale 159
Average Days on Market
258
Month’s Supply of Inventory 13
Percent Under Contract
6.3
172
8
200
-22
14
8
5.2
-17
*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. 2012
Dec. 2013
%Change
Median Price $6,200,000
$4,300,000
-31
Properties Sold
9
Sales Volume $82,434,105
Properties Pending Sale
2
Properties For Sale 77
Average Days on Market
535
Month’s Supply of Inventory 30
Percent Under Contract
2.6
9 $58,018,126
-30
2
0
60
-22
140
-74
25
-17
3.3
28
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
0
Marina del Rey
Dec. 2012
Dec. 2013
%Change
Median Price $1,290,000
$1,895,000
31
3
-25
$4,558,000
-16
2
100
17
70
123
392
6
-33
11.8
18
Properties Sold
4
Sales Volume $5,440,000
Properties Pending Sale
1
Properties For Sale 10
Average Days on Market
25
Month’s Supply of Inventory 9
Percent Under Contract
10.0
*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. 2012
Dec. 2013
%Change
Median Price $305,000
$470,000
54
27
-37
$10,177,900
10
28
17
133
-4
68
-11
3
-25
21.1
21
Properties Sold
43
Sales Volume $9,241,000
Properties Pending Sale
24
Properties For Sale 138
Average Days on Market
76
Month’s Supply of Inventory 4
Percent Under Contract
17.4
*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. 2012
Dec. 2013
%Change
Median Price $425,000
$486,250
14
2
-33
$647,500
-54
3
-50
16
-54
30
-57
3
-25
Properties Sold
3
Sales Volume $1,395,000
Properties Pending Sale
6
Properties For Sale 35
Average Days on Market
70
Month’s Supply of Inventory 4
Percent Under Contract
17.1
18.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
9
Pacific Palisades
Dec. 2012
Dec. 2013
%Change
Median Price $1,917,500
$2,805,000
46
22
-31
$73,762,351
-4
18
10
-44
Properties For Sale 89
84
-6
68
0
6
100
11.9
-41
Properties Sold
32
Sales Volume $77,172,250
Properties Pending Sale
Average Days on Market
68
Month’s Supply of Inventory 3
Percent Under Contract
20.2
*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. 2013
%Change
Median Price $759,500
$1,005,055
32
28
-7
$31,462,860
40
22
17
-23
Properties For Sale 56
56
0
31
-3
2
100
30.4
-23
Properties Sold
30
Sales Volume $22,439,700
Properties Pending Sale
Average Days on Market
32
Month’s Supply of Inventory 1
Percent Under Contract
39.3
*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. 2012
Dec. 2013
%Change
Median Price n/a
1,460,000
n/a
1
100
$1,460,000
n/a
0
2
200
Properties For Sale 1
3
200
56
n/a
1
100
66.7
n/a
Properties Sold
0
Sales Volume 0
Properties Pending Sale
Average Days on Market
n/a
Month’s Supply of Inventory n/a
Percent Under Contract
n/a
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Santa Monica
Dec. 2012
Dec. 2013
%Change
Median Price $2,216,675
$1,417,500
-36
22
-21
$41,896,811
-26
Properties Sold
28
Sales Volume $56,595,150
Properties Pending Sale
11
11
0
Properties For Sale 66
62
-6
60
25
4
0
17.7
6
Average Days on Market
48
Month’s Supply of Inventory 4
Percent Under Contract
16.7
*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. 2012
Dec. 2013
%Change
Median Price $510,000
$822,500
61
31
7
$20,170,090
42
19
13
-32
Properties For Sale 90
65
-28
100
133
Properties Sold
29
Sales Volume $14,253,000
Properties Pending Sale
Average Days on Market
43
Month’s Supply of Inventory 3
Percent Under Contract
21.1
3
0
20.0
-5
*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. 2012
Dec. 2013
%Change
Median Price $1,282,000
$1,656,500
29
28
-39
Properties Sold
46
Sales Volume $73,869,794
Properties Pending Sale
24
Properties For Sale 220
Average Days on Market
96
Month’s Supply of Inventory 7
Percent Under Contract
10.9
$74,798,000
1
22
-8
229
4
69
-28
7
0
9.6
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-12
Venice
Dec. 2012
Dec. 2013
%Change
Median Price $1,306,092
$1,592,500
22
26
18
$47,107,500
36
19
171
45
-10
38
-45
1
-83
42.2
202
Properties Sold
22
Sales Volume $34,698,185
Properties Pending Sale
7
Properties For Sale 50
Average Days on Market
69
Month’s Supply of Inventory 6
Percent Under Contract
14.0
*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. 2012
Dec. 2013
%Change
Median Price $895,000
$1,261,250
41
8
14
$11,322,270
74
15
400
45
22
45
-44
1
-89
33.3
311
Properties Sold
7
Sales Volume $6,498,000
Properties Pending Sale
3
Properties For Sale 37
Average Days on Market
81
Month’s Supply of Inventory 9
Percent Under Contract
8.2
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Los Angeles
Dec. 2012
Dec. 2013
%Change
Median Price $579,000
$835,500
44
8
0
$7,060,000
81
1
-83
16
-27
107
494
10
233
6.3
-77
Properties Sold
8
Sales Volume $3,889,000
Properties Pending Sale
6
Properties For Sale 22
Average Days on Market
18
Month’s Supply of Inventory 3
Percent Under Contract
27.3
*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. 2012
Dec. 2013
%Change
Median Price $1,277,750
$1,543,000
21
22
10
$36,651,260
10
7
0
31
15
26
53
2
0
Properties Sold
20
Sales Volume $33,367,058
Properties Pending Sale
7
Properties For Sale 27
Average Days on Market
17
Month’s Supply of Inventory 2
Percent Under Contract
25.9
22.6
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-13
RODEO REALTY MARKETING DEPARTMENT