Local Market Report
Los Angeles - Westside January 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
Jan. 2013
Jan. 2014
%Change
Median Price $1,682,500
$1,975,000
17
Properties Sold
11
10
Sales Volume $39,080,000
$34,955,000
-11
Properties Pending Sale
5
-58
Properties For Sale 120
94
-22
Average Days on Market
252
114
Month’s Supply of Inventory 8
15
88
Percent Under Contract
5.3
-47
10
12
118
10.0
*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. 2013
Jan. 2014
%Change
Median Price $1,158,500
$1,300,000
12
11
-8
$16,089,001
26
13
16
23
Properties For Sale 64
59
-8
38
46
2
-50
27.1
34
Properties Sold
12
Sales Volume $12,775,000
Properties Pending Sale
Average Days on Market
26
Month’s Supply of Inventory 4
Percent Under Contract
20.3
*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. 2013
Jan. 2014
%Change
Median Price $6,200,000
$5,198,500
-16
12
140
$69,447,000
60
9
50
89
-15
38
-66
7
-50
10.1
77
Properties Sold
5
Sales Volume $43,520,000
Properties Pending Sale
6
Properties For Sale 105
Average Days on Market
111
Month’s Supply of Inventory 14
Percent Under Contract
5.7
*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. 2013
Median Price $1,713,210
Properties Sold
9
Sales Volume $16,712,210
Properties Pending Sale
9
Properties For Sale 106
Average Days on Market
60
Month’s Supply of Inventory 9
Percent Under Contract
8.5
Jan. 2014
%Change
$2,292,500
34
12
33
$23,990,000
44
17
89
116
9
62
3
5
-44
14.7
73
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Beverlywood
Jan. 2013
Jan. 2014
%Change
Median Price $699,000
$900,000
29
11
10
$9,945,000
36
10
24
140
Properties For Sale 50
67
34
38
-21
1
-75
35.8
79
Properties Sold
10
Sales Volume $7,313,000
Properties Pending Sale
Average Days on Market
48
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
Brentwood
Jan. 2013
Jan. 2014
%Change
Median Price $2,240,500
$2,154,265
-4
12
20
$32,168,530
29
13
-35
77
-23
65
44
4
33
16.9
-16
Properties Sold
10
Sales Volume $24,916,000
Properties Pending Sale
20
Properties For Sale 100
Average Days on Market
45
Month’s Supply of Inventory 3
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
Cheviot Hills - Rancho Park
Jan. 2013
Jan. 2014
%Change
Median Price $992,500
$1,800,000
81
3
-25
$5,415,000
25
3
-40
9
-55
33
32
1
-67
33.3
33
Properties Sold
4
Sales Volume $4,336,000
Properties Pending Sale
5
Properties For Sale 20
Average Days on Market
25
Month’s Supply of Inventory 3
Percent Under Contract
25.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Culver City
Jan. 2013
Jan. 2014
%Change
Median Price $715,000
$700,500
-2
10
11
$6,320,500
-5
14
12
-14
Properties For Sale 40
37
-8
43
-25
2
0
32.4
-7
Properties Sold
9
Sales Volume $6,622,500
Properties Pending Sale
Average Days on Market
57
Month’s Supply of Inventory 2
Percent Under Contract
35.0
*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. 2013
Jan. 2014
%Change
Median Price $862,500
$1,531,250
78
14
40
$25,029,700
228
21
24
14
Properties For Sale 87
94
8
66
3
2
-33
Properties Sold
10
Sales Volume $7,637,000
Properties Pending Sale
Average Days on Market
64
Month’s Supply of Inventory 3
Percent Under Contract
24.1
25.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
6
Hollywood
Jan. 2013
Jan. 2014
%Change
Median Price $447,500
$285,000
-36
1
-75
$0
-100
6
200
18
-14
33
-65
1
-89
33.3
250
Properties Sold
4
Sales Volume $1,054,995
Properties Pending Sale
2
Properties For Sale 21
Average Days on Market
93
Month’s Supply of Inventory 9
Percent Under Contract
9.5
*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. 2013
Jan. 2014
%Change
Median Price $882,000
$1,460,000
66
9
50
$13,986,000
189
6
-45
55
-5
39
-40
7
75
10.9
-42
Properties Sold
6
Sales Volume $4,842,000
Properties Pending Sale
11
Properties For Sale 58
Average Days on Market
65
Month’s Supply of Inventory 4
Percent Under Contract
19.0
*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. 2013
Jan.2014
%Change
Median Price $961,750
$972,000
1
Properties Sold
18
14
-22
$19,981,572
28
18
18
0
Properties For Sale 94
83
-12
49
-40
3
-25
21.7
13
Sales Volume $15,582,700
Properties Pending Sale
Average Days on Market
81
Month’s Supply of Inventory 4
Percent Under Contract
19.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu
Jan. 2013
Jan. 2014
%Change
Median Price $1,500,000
$1,700,000
13
9
-10
$24,835,000
57
16
0
172
1
161
20
8
-11
9.3
-1
Properties Sold
10
Sales Volume $15,769,500
Properties Pending Sale
16
Properties For Sale 171
Average Days on Market
134
Month’s Supply of Inventory 9
Percent Under Contract
9.4
*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. 2013
Jan. 2014
%Change
Median Price $4,700,000
$4,716,250
0
Properties Sold
3
Sales Volume $18,600,000
Properties Pending Sale
4
Properties For Sale 71
Average Days on Market
99
Month’s Supply of Inventory 17
Percent Under Contract
5.6
2
-33
$9,432,500
-49
5
25
63
-11
254
157
9
-47
7.9
41
*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. 2013
Jan. 2014
%Change
Median Price $1,735,000
$2,050,000
18
1
-67
$2,050,000
-55
7
75
21
5
52
6
2
-50
33.3
67
Properties Sold
3
Sales Volume $4,541,000
Properties Pending Sale
4
Properties For Sale 20
Average Days on Market
49
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
Mid Los Angeles
Jan. 2013
Jan. 2014
%Change
Median Price $236,500
$425,880
80
23
-8
$4,409,500
-7
32
3
124
-12
73
43
2
-33
25.8
17
Properties Sold
25
Sales Volume $4,724,000
Properties Pending Sale
31
Properties For Sale 141
Average Days on Market
51
Month’s Supply of Inventory 3
Percent Under Contract
22.0
*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. 2013
Jan. 2014
%Change
Median Price $443,000
$545,000
23
1
-75
$545,000
-38
3
-25
20
-33
87
-1
5
-17
15.0
13
Properties Sold
4
Sales Volume $886,000
Properties Pending Sale
4
Properties For Sale 30
Average Days on Market
88
Month’s Supply of Inventory 6
Percent Under Contract
13.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Pacific Palisades
Jan. 2013
Jan. 2014
%Change
Median Price $1,668,000
$2,492,000
49
14
17
$34,933,000
38
23
35
108
26
60
9
3
-25
Properties Sold
12
Sales Volume $25,274,830
Properties Pending Sale
17
Properties For Sale 86
Average Days on Market
55
Month’s Supply of Inventory 4
Percent Under Contract
19.8
21.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
8
Palms - Mar Vista
Jan. 2013
Jan. 2014
%Change
Median Price $782,000
$790,000
1
Properties Sold
24
21
-13
$15,863,727
-14
11
23
109
Properties For Sale 55
65
18
36
-16
2
-33
35.4
77
Sales Volume $18,521,900
Properties Pending Sale
Average Days on Market
43
Month’s Supply of Inventory 3
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
Playa Vista
Jan. 2013
Jan. 2014
Median Price n/a
n/a
Properties Sold
0
Sales Volume 0
Properties Pending Sale
0 $1,460,000
%Change n/a 0 n/a
0
0
0
Properties For Sale 3
5
67
n/a
n/a
n/a
Month’s Supply of Inventory n/a
n/a
n/a
n/a
n/a
Average Days on Market
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
Jan. 2013
Jan. 2014
%Change
Median Price $2,300,000
$1,488,000
-35
7
-46
$13,561,715
-55
23
15
-35
Properties For Sale 73
66
-10
65
86
3
50
22.7
-28
Properties Sold
13
Sales Volume $30,150,650
Properties Pending Sale
Average Days on Market
35
Month’s Supply of Inventory 2
Percent Under Contract
31.5
*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. 2013
Jan. 2014
%Change
Median Price $603,500
$836,000
39
12
-40
$9,102,125
-10
23
27
17
Properties For Sale 86
80
-7
45
-42
2
0
33.8
26
Properties Sold
20
Sales Volume $10,080,200
Properties Pending Sale
Average Days on Market
77
Month’s Supply of Inventory 2
Percent Under Contract
26.7
*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. 2013
Jan. 2014
%Change
Median Price $1,248,000
$1,220,000
-2
24
4
$35,508,500
-7
39
22
244
2
71
-5
4
-33
16.0
20
Properties Sold
23
Sales Volume $38,049,305
Properties Pending Sale
32
Properties For Sale 240
Average Days on Market
75
Month’s Supply of Inventory 6
Percent Under Contract
13.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Venice
Jan. 2013
Jan. 2014
%Change
Median Price $1,257,000
$1,232,500
-2
16
23
$19,517,000
2
Properties Sold
13
Sales Volume $19,148,500
Properties Pending Sale
13
11
-15
Properties For Sale 59
55
-7
45
55
3
0
20.0
-9
Average Days on Market
29
Month’s Supply of Inventory 3
Percent Under Contract
22.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Hollywood
Jan. 2013
Jan. 2014
%Change
Median Price $682,500
$1,077,884
58
17
750
Properties Sold
2
Sales Volume 1,365,000
Properties Pending Sale
6
Properties For Sale 45
Average Days on Market
26
Month’s Supply of Inventory 6
Percent Under Contract
13.3
$25,527,985 8
33
41
-9
69
165
3
-50
19.5
46
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
1,770
West Los Angeles
Jan. 2013
Jan. 2014
%Change
Median Price $688,500
$805,000
17
4
-60
$3,180,000
-52
Properties Sold
10
Sales Volume $6,684,500
Properties Pending Sale
8
Properties For Sale 32
Average Days on Market
65
Month’s Supply of Inventory 3
Percent Under Contract
25.0
8
0
21
-34
30
-54
1
-67
38.1
52
*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
Jan. 2013
Jan. 2014
%Change
Median Price $1,304,500
$1,425,000
9
Properties Sold
4
Sales Volume $7,044,000
Properties Pending Sale
8
Properties For Sale 36
Average Days on Market
35
Month’s Supply of Inventory 3
Percent Under Contract
22.2
8
100
$13,615,750
93
8
0
31
-14
71
103
2
-33
25.8
16
*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