Local Market Report January 2015
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
Jan. 2014
Median Price $2,350,000
Properties Sold
11
Sales Volume $54,455,000
Properties Pending Sale
7
Properties For Sale 101
Average Days on Market
231
Months Supply of Inventory 12
Percent Under Contract
6.9%
Jan. 2015
%Change
$2,950,000
26%
15
36%
$65,542,500
20%
15
114%
95
-6%
123
-47%
4
-67%
15.8%
128%
*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
Jan. 2014
Median Price $1,240,000
Properties Sold
12
Jan. 2015
%Change
$1,265,000
2%
8
-33%
$10,982,000
-36%
15
14
-7%
Properties For Sale 62
61
-2%
49
53%
3
0%
23.0%
-5%
Sales Volume $17,264,001
Properties Pending Sale
Average Days on Market
32
Months Supply of Inventory 3
Percent Under Contract
24.2%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills
Jan. 2014
Median Price $5,198,500
Properties Sold
12
Sales Volume $69,447,000
Properties Pending Sale
9
Properties For Sale 104
Average Days on Market
38
Months Supply of Inventory 10
Percent Under Contract
8.7%
Jan. 2015
%Change
$5,900,000
13%
12
0%
$69,134,025
0%
10
11%
80
-23%
77
103%
6
-40%
12.5%
44%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills P.O.
Jan. 2014
Median Price $2,150,000
Properties Sold
11
Sales Volume $23,990,000
Properties Pending Sale
15
Properties For Sale 131
Average Days on Market
59
Months Supply of Inventory 7
Percent Under Contract
11.5%
Jan. 2015
%Change
$2,950,000
37%
5
-55%
$13,689,500
-43%
12
-20%
113
-14%
112
90%
7
0%
10.6%
-7%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Beverlywood
Jan. 2014
Median Price $910,000
Properties Sold
10
Sales Volume $9,945,000
Properties Pending Sale
Jan. 2015
%Change
$977,000
7%
11
10%
$10,876,000
9%
19
16
-16%
Properties For Sale 66
33
-50%
48
12%
1
-50%
48.5%
68%
Average Days on Market
43
Months Supply of Inventory 2
Percent Under Contract
28.8%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Brentwood
Jan. 2014
Median Price $2,190,000
Properties Sold
11
Sales Volume $32,168,530
Properties Pending Sale
12
Properties For Sale 86
Average Days on Market
65
Months Supply of Inventory 5
Percent Under Contract
14.0%
Jan. 2015
%Change
$2,701,000
23%
9
-18%
$28,076,000
-13%
9
-25%
74
-14%
44
-32%
6
20%
12.2%
-13%
*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
Jan. 2014
Median Price $1,800,000
Properties Sold
3
Sales Volume $5,415,000
Properties Pending Sale
3
Properties For Sale 11
Average Days on Market
33
Months Supply of Inventory 2
Percent Under Contract
27.3%
Jan. 2015
%Change
$1,400,000
-22%
7
133%
$8,861,500
64%
1
-67%
13
18%
75
127%
10
400%
7.7%
-72%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Culver City
Jan. 2014
Jan. 2015
%Change
$1,092,750
56%
8
-20%
$8,143,500
29%
11
18
64%
Properties For Sale 31
41
32%
44
-10%
1
-50%
43.9%
24%
Median Price $700,500
Properties Sold
10
Sales Volume $6,320,500
Properties Pending Sale
Average Days on Market
49
Months Supply of Inventory 2
Percent Under Contract
35.5%
*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
Jan. 2014
Jan. 2015
%Change
$1,737,500
26%
20
33%
$44,337,888
72%
21
20
-5%
Properties For Sale 95
80
-16%
44
-36%
3
0%
25.0%
13%
Median Price $1,375,000
Properties Sold
15
Sales Volume $25,734,700
Properties Pending Sale
Average Days on Market
69
Months Supply of Inventory 3
Percent Under Contract
22.1%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hollywood
Jan. 2014
Median Price $285,000
Properties Sold
1
Sales Volume $0
Properties Pending Sale
3
Properties For Sale 20
Average Days on Market
48
Months Supply of Inventory 5
Percent Under Contract
15.0%
Jan. 2015
%Change
$1,080,000
279%
3
200%
$3,435,000 4
33%
17
-15%
70
46%
2
-60%
23.5%
57%
*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
Jan. 2014
Median Price $1,460,000
Properties Sold
9
Sales Volume $13,986,000
Properties Pending Sale
5
Properties For Sale 56
Average Days on Market
43
Months Supply of Inventory 9
Percent Under Contract
8.9%
Jan. 2015
%Change
$1,150,000
-21%
7
-22%
$7,776,095
-44%
14
180%
46
-18%
104
142%
2
-78%
30.4%
241%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Los Feliz
Jan. 2014 Median Price $972,000
Jan. 2015
%Change
$1,617,500
66%
Properties Sold 14 Sales Volume $19,981,572
16
14%
$27,929,000
40%
16
12
-25%
Properties For Sale 70
53
-24%
60
22%
3
0%
22.6%
-1%
Properties Pending Sale
Average Days on Market
49
Months Supply of Inventory 3
Percent Under Contract
22.9%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Malibu
Jan. 2014
Median Price $2,225,000
Properties Sold
7
Sales Volume $24,804,000
Properties Pending Sale
11
Properties For Sale 184
Average Days on Market
157
Months Supply of Inventory 14
Percent Under Contract
6.0%
Jan. 2015
%Change
$2,000,000
-10%
11
57%
$29,147,000
18%
12
9%
153
-17%
138
-12%
10
-29%
7.8%
31%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu Beach
Jan. 2014
Median Price $4,716,250
Properties Sold
2
Sales Volume $9,432,500
Properties Pending Sale
5
Properties For Sale 67
Average Days on Market
254
Months Supply of Inventory 11
Percent Under Contract
7.5%
Jan. 2015
%Change
$4,725,000
0%
2
0%
$9,450,000
0%
1
-80%
60
-10%
247
-3%
47
327%
1.7%
-78%
*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
Jan. 2014
Median Price $2,050,000
Properties Sold
1
Sales Volume $2,050,000
Properties Pending Sale
6
Properties For Sale 26
Average Days on Market
59
Months Supply of Inventory 3
Percent Under Contract
23.1%
Jan. 2015
%Change
$1,899,750
-7%
4
300%
$7,738,500
277%
4
-33%
15
-42%
14
-76%
3
0%
26.7%
16%
*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
Jan. 2014
Jan. 2015
%Change
$520,000
18%
10
-17%
$5,295,562
20%
14
16
14%
Properties For Sale 76
64
-16%
29
-61%
3
-25%
25.0%
36%
Median Price $440,000
Properties Sold
12
Sales Volume $4,409,500
Properties Pending Sale
Average Days on Market
75
Months Supply of Inventory 4
Percent Under Contract
18.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Mid Wilshire
Jan. 2014
Median Price $545,000
Properties Sold
1
Sales Volume $545,000
Properties Pending Sale
0
Properties For Sale 13
Average Days on Market
na
Months Supply of Inventory na
Percent Under Contract
0.0%
Jan. 2015
%Change
$570,000
5%
5
400%
$2,275,000
317%
4 18 58 3 22.2%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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38%
Pacific Palisades
Jan. 2014
Median Price $2,492,000
Properties Sold
14
Sales Volume $34,933,000
Properties Pending Sale
24
Properties For Sale 110
Average Days on Market
71
Months Supply of Inventory 3
Percent Under Contract
21.8%
Jan. 2015
%Change
$2,120,000
-15%
13
-7%
$30,723,811
-12%
20
-17%
99
-10%
73
3%
3
0%
20.2%
-7%
*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
Jan. 2014
Jan. 2015
%Change
$962,500
24%
14
-22%
$16,797,000
-2%
19
16
-16%
Properties For Sale 62
53
-15%
40
135%
2
0%
30.2%
-1%
Median Price $775,000
Properties Sold
18
Sales Volume $17,133,727
Properties Pending Sale
Average Days on Market
17
Months Supply of Inventory 2
Percent Under Contract
30.6%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Playa Vista
Jan. 2014
Median Price na
Properties Sold
na
Sales Volume n/a
Properties Pending Sale
na
Properties For Sale 8
Average Days on Market
na
Months Supply of Inventory na
Percent Under Contract
Jan. 2015 $1,795,000 1 $1,795,000 1 5 10 2 20.0%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
-38%
Santa Monica
Jan. 2014
Jan. 2015
%Change
$2,332,500
57%
12
71%
$31,880,000
135%
15
10
-33%
Properties For Sale 68
49
-28%
46
-27%
3
0%
20.4%
-7%
Median Price $1,488,000
Properties Sold
7
Sales Volume $13,561,715
Properties Pending Sale
Average Days on Market
63
Months Supply of Inventory 3
Percent Under Contract
22.1%
*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
Jan. 2014
Jan. 2015
%Change
$777,500
-6%
16
45%
$11,230,967
23%
19
18
-5%
Properties For Sale 63
72
14%
43
-4%
3
50%
25.0%
-17%
Median Price $829,000
Properties Sold
11
Sales Volume $9,102,125
Properties Pending Sale
Average Days on Market
45
Months Supply of Inventory 2
Percent Under Contract
30.2%
*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
Jan. 2014
Median Price $1,290,000
Properties Sold
26
Sales Volume $38,857,075
Properties Pending Sale
34
Properties For Sale 256
Average Days on Market
70
Months Supply of Inventory 6
Percent Under Contract
13.3%
Jan. 2015
%Change
$1,343,750
4%
30
15%
$102,133,092
163%
33
-3%
221
-14%
68
-3%
5
-17%
14.9%
12%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Venice
Jan. 2014
Median Price $1,270,000
Properties Sold
14
Sales Volume $19,517,000
Properties Pending Sale
9
Properties For Sale 54
Average Days on Market
37
Months Supply of Inventory 4
Percent Under Contract
16.7%
Jan. 2015
%Change
$1,223,138
-4%
8
-43%
$11,530,983
-41%
12
33%
61
13%
48
30%
3
-25%
19.7%
18%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Hollywood
Jan. 2014
Median Price $1,077,884
Properties Sold
17
Sales Volume $25,503,985
Properties Pending Sale
7
Properties For Sale 41
Average Days on Market
43
Months Supply of Inventory 5
Percent Under Contract
17.1%
Jan. 2015
%Change
$2,470,000
129%
7
-59%
$17,005,000
-33%
7
0%
44
7%
85
98%
4
-20%
15.9%
-7%
*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
Jan. 2014
Median Price $805,000
Properties Sold
4
Sales Volume $3,180,000
Properties Pending Sale
8
Properties For Sale 18
Average Days on Market
30
Months Supply of Inventory 1
Percent Under Contract
44.4%
Jan. 2015
%Change
$895,000
11%
9
125%
$9,137,110
187%
0
-100%
15
-17%
29
-3%
na 0.0%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-100%
Westwood - Century City
Jan. 2014
Median Price $1,425,000
Properties Sold
9
Sales Volume $15,765,750
Properties Pending Sale
6
Properties For Sale 31
Average Days on Market
87
Months Supply of Inventory 4
Percent Under Contract
19.4%
Jan. 2015
%Change
$1,863,250
31%
4
-56%
$9,996,500
-37%
10
67%
37
19%
23
-74%
2
-50%
27.0%
40%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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RODEO REALTY MARKETING DEPARTMENT