Local Market Report
Los Angeles - Westside February 2014 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
Feb. 2013
Feb. 2014
%Change
Median Price $2,000,000
$1,645,000
-18
Properties Sold
8
-11
9
Sales Volume $38,645,000
$40,631,500
5
Properties Pending Sale
19
36
Properties For Sale 118
100
-15
Average Days on Market
157
202
Month’s Supply of Inventory 7
3
-57
Percent Under Contract
19.0
60
14
52
11.9
*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
Feb. 2013
Feb. 2014
%Change
Median Price $857,500
$1,401,250
63
12
20
$21,608,500
216
12
15
25
Properties For Sale 67
64
-4
29
-9
3
-25
23.4
31
Properties Sold
10
Sales Volume $6,843,000
Properties Pending Sale
Average Days on Market
32
Month’s 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.
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Beverly Hills
Feb. 2013
Feb. 2014
%Change
Median Price $2,713,500
$5,600,000
106
10
67
$83,327,000
319
17
42
87
-20
62
-45
4
-50
19.5
77
Properties Sold
6
Sales Volume $19,872,000
Properties Pending Sale
12
Properties For Sale 109
Average Days on Market
112
Month’s Supply of Inventory 8
Percent Under Contract
11.0
*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.
Feb. 2013
Median Price $1,802,500
Properties Sold
14
Sales Volume $23,705,000
Properties Pending Sale
14
Properties For Sale 120
Average Days on Market
74
Month’s Supply of Inventory 7
Percent Under Contract
11.7
Feb. 2014
%Change
$2,162,500
20
10
-29
$23,353,000
-1
12
-14
107
-11
94
27
7
0
11.2
-4
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Beverlywood
Feb. 2013
Feb. 2014
%Change
Median Price $769,000
$782,500
2
10
11
$7,808,000
0
13
22
69
Properties For Sale 50
66
32
37
28
2
-33
33.3
28
Properties Sold
9
Sales Volume $7,832,000
Properties Pending Sale
Average Days on Market
29
Month’s Supply of Inventory 3
Percent Under Contract
26.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Brentwood
Feb. 2013
Feb. 2014
%Change
Median Price $2,225,000
$4,050,000
82
13
-32
$53,363,095
-7
9
-44
84
-9
14
-79
7
75
10.7
-38
Properties Sold
19
Sales Volume $57,582,750
Properties Pending Sale
16
Properties For Sale 92
Average Days on Market
67
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
Cheviot Hills - Rancho Park
Feb. 2013
Feb. 2014
%Change
Median Price $1,145,000
$2,150,000
88
5
150
$5,300,000
131
4
-50
11
-52
15
9
-40
Month’s Supply of Inventory 2
2
0
36.4
5
Properties Sold
2
Sales Volume $2,290,000
Properties Pending Sale
8
Properties For Sale 23
Average Days on Market
Percent Under Contract
34.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Culver City
Feb. 2013
Feb. 2014
%Change
Median Price $740,000
$790,000
7
Properties Sold
16
13
-19
$10,421,000
-3
13
12
-8
Properties For Sale 45
40
-11
55
83
2
0
30.0
4
Sales Volume $10,746,000
Properties Pending Sale
Average Days on Market
30
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
Feb. 2013
Feb. 2014
%Change
Median Price $930,000
$1,724,950
85
20
54
$45,820,400
360
12
23
92
Properties For Sale 94
98
4
54
35
3
-50
23.5
84
Properties Sold
13
Sales Volume $9,962,500
Properties Pending Sale
Average Days on Market
40
Month’s Supply of Inventory 6
Percent Under Contract
12.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hollywood
Feb. 2013
Feb. 2014
%Change
Median Price $1,080,000
$1,450,000
34
2
-50
$2,200,000
-43
7
75
25
4
72
64
2
-60
28.0
68
Properties Sold
4
Sales Volume $3,885,000
Properties Pending Sale
4
Properties For Sale 24
Average Days on Market
44
Month’s Supply of Inventory 5
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
Hollywood Hills East
Feb. 2013
Feb. 2014
%Change
Median Price $955,000
$1,597,000
67
7
-56
$11,719,000
-26
7
-46
52
-17
72
6
6
100
13.5
-35
Properties Sold
16
Sales Volume $15,811,500
Properties Pending Sale
13
Properties For Sale 63
Average Days on Market
68
Month’s Supply of Inventory 3
Percent Under Contract
20.6
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Los Feliz
Feb. 2013
Feb. 2014
%Change
Median Price $700,000
$902,500
29
16
23
$19,900,000
65
24
0
89
-14
56
107
2
-33
27.0
17
Properties Sold
13
Sales Volume $12,084,000
Properties Pending Sale
24
Properties For Sale 104
Average Days on Market
27
Month’s Supply of Inventory 3
Percent Under Contract
23.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu
Feb. 2013
Feb. 2014
%Change
Median Price $1,900,000
$2,000,000
5
15
50
$40,408,918
79
14
-7
169
-3
208
145
10
0
8.3
-3
Properties Sold
10
Sales Volume $22,582,888
Properties Pending Sale
15
Properties For Sale 175
Average Days on Market
85
Month’s Supply of Inventory 10
Percent Under Contract
8.6
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu Beach
Feb. 2013
Feb. 2014
%Change
Median Price $12,000,000
$6,662,500
-44
4
100
$35,575,000
48
3
-25
61
-30
78
-71
17
-11
4.9
7
Properties Sold
2
Sales Volume $24,000,000
Properties Pending Sale
4
Properties For Sale 87
Average Days on Market
265
Month’s Supply of Inventory 19
Percent Under Contract
4.6
*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
Feb. 2013
Feb. 2014
%Change
Median Price $1,600,000
$1,715,000
7
5
0
$8,872,000
51
8
0
24
9
23
-62
2
0
33.3
-8
Properties Sold
5
Sales Volume $5,894,000
Properties Pending Sale
8
Properties For Sale 22
Average Days on Market
60
Month’s Supply of Inventory 2
Percent Under Contract
36.4
*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
Feb. 2013
Feb. 2014
%Change
Median Price $293,000
$468,000
60
25
0
$8,317,104
34
35
40
121
-10
47
47
2
-50
28.9
56
Properties Sold
25
Sales Volume $6,183,750
Properties Pending Sale
25
Properties For Sale 135
Average Days on Market
32
Month’s Supply of Inventory 4
Percent Under Contract
18.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Mid Wilshire
Feb. 2013
Feb. 2014
%Change
Median Price $470,000
$476,000
1
Properties Sold
9
Sales Volume $470,000
Properties Pending Sale
7
Properties For Sale 37
Average Days on Market
41
Month’s Supply of Inventory 4
Percent Under Contract
18.9
1
-89
0
-100
3
-57
23
-38
26
-37
7
75
13.0
-31
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Pacific Palisades
Feb. 2013
Feb. 2014
%Change
Median Price $2,485,000
$2,768,950
11
18
13
$58,402,836
34
27
17
107
-4
52
-45
3
-25
25.2
23
Properties Sold
16
Sales Volume $43,451,250
Properties Pending Sale
23
Properties For Sale 112
Average Days on Market
95
Month’s Supply of Inventory 4
Percent Under Contract
20.5
*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
Feb. 2013
Feb. 2014
%Change
Median Price $845,790
$1,100,000
30
17
21
$16,504,000
41
29
26
-10
Properties For Sale 72
68
-6
42
40
1
0
38.2
-5
Properties Sold
14
Sales Volume $11,742,030
Properties Pending Sale
Average Days on Market
30
Month’s Supply of Inventory 1
Percent Under Contract
40.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Playa Vista
Feb. 2013
Feb. 2014
%Change
Median Price n/a
$1,134,995
n/a
1
100
$1,134,995
n/a
0
1
100
Properties For Sale 4
7
75
399
n/a
3
n/a
14.3
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
Feb. 2013
Feb. 2014
%Change
Median Price $1,375,000
$1,896,000
38
13
-13
$29,968,000
15
14
18
29
Properties For Sale 70
66
-6
53
51
2
-50
27.3
36
Properties Sold
15
Sales Volume $26,022,000
Properties Pending Sale
Average Days on Market
35
Month’s Supply of Inventory 4
Percent Under Contract
20.0
*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
Feb. 2013
Feb. 2014
%Change
Median Price $490,000
$725,000
48
25
-7
$12,936,000
5
Properties Sold
27
Sales Volume $12,359,250
Properties Pending Sale
31
22
-29
Properties For Sale 87
74
-15
45
-33
2
0
Average Days on Market
67
Month’s Supply of Inventory 2
Percent Under Contract
35.6
29.7
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-17
Sunset Strip - Hollywood Hills West
Feb. 2013
Feb. 2014
%Change
Median Price $1,387,500
$1,542,990
11
34
31
$78,796,692
58
37
-8
227
-5
81
3
4
-20
16.3
-3
Properties Sold
26
Sales Volume $49,738,000
Properties Pending Sale
40
Properties For Sale 238
Average Days on Market
79
Month’s Supply of Inventory 5
Percent Under Contract
16.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Venice
Feb. 2013
Feb. 2014
%Change
Median Price $1,085,000
$1,425,000
31
9
-10
$15,410,000
25
13
15
15
Properties For Sale 73
59
-19
29
-69
3
-25
25.4
43
Properties Sold
10
Sales Volume $12,294,700
Properties Pending Sale
Average Days on Market
65
Month’s Supply of Inventory 4
Percent Under Contract
17.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Hollywood
Feb. 2013
Feb. 2014
%Change
Median Price $1,362,000
$1,055,000
-23
6
-25
$6,455,517
-41
13
12
-8
Properties For Sale 54
41
-24
52
-51
2
-33
29.3
22
Properties Sold
8
Sales Volume 10,944,000
Properties Pending Sale
Average Days on Market
106
Month’s Supply of Inventory 3
Percent Under Contract
24.1
*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
Feb. 2013
Feb. 2014
%Change
Median Price $530,000
$788,000
49
5
67
$3,592,000
95
4
-71
17
-50
12
-66
3
200
23.5
-43
Properties Sold
3
Sales Volume $1,840,000
Properties Pending Sale
14
Properties For Sale 34
Average Days on Market
35
Month’s Supply of Inventory 1
Percent Under Contract
41.2
*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
Feb. 2013
Feb. 2014
%Change
Median Price $1,149,500
$1,766,000
54
7
17
$10,026,000
36
10
12
20
Properties For Sale 37
34
-8
28
4
2
-33
35.3
31
Properties Sold
6
Sales Volume $7,371,888
Properties Pending Sale
Average Days on Market
27
Month’s Supply of Inventory 3
Percent Under Contract
27.0
*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