Local Market Report June 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
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
Jun. 2013
Jun. 2014
Median Price $2,500,000
$2,300,000
-8%
Properties Sold
10
-41%
Sales Volume $61,007,500
$43,798,300
-28%
Properties Pending Sale
13
0%
Properties For Sale 133
118
-11%
Average Days on Market
118
11%
Months Supply of Inventory 8
7
-13%
Percent Under Contract
11.0%
13%
17
13
106
9.8%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Beverly Center - Miracle Mile
Jun. 2013
Jun. 2014
%Change
Median Price $1,075,000
$1,429,000
33%
16
-30%
$23,091,500
-16%
19
18
-5%
Properties For Sale 66
73
11%
17
-73%
3
50%
24.7%
-14%
Properties Sold
23
Sales Volume $27,427,607
Properties Pending Sale
Average Days on Market
63
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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Beverly Hills
Jun. 2013
Jun. 2014
%Change
Median Price $3,240,000
$2,610,000
-19%
Properties Sold
13
Sales Volume $76,989,152
Properties Pending Sale
13
Properties For Sale 120
Average Days on Market
64
Months Supply of Inventory 8
Percent Under Contract
10.8%
13 $51,684,000
-33%
18
38%
99
-18%
57
-11%
4
-50%
18.2%
68%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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0%
Beverly Hills P.O.
Jun. 2013
Median Price $1,400,000
Properties Sold
13
Sales Volume $35,187,000
Properties Pending Sale
16
Properties For Sale 136
Average Days on Market
45
Months Supply of Inventory 7
Percent Under Contract
11.8%
Jun. 2014
%Change
$1,615,000
15%
11
-15%
$25,370,000
-28%
12
-25%
133
-2%
51
13%
9
29%
9.0%
-23%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverlywood
Jun. 2013
Jun. 2014
%Change
Median Price $776,000
$886,000
14%
15
-42%
$15,805,500
-27%
15
20
33%
Properties For Sale 64
74
16%
40
-22%
2
-33%
27.0%
15%
Properties Sold
26
Sales Volume $21,784,550
Properties Pending Sale
Average Days on Market
51
Months Supply of Inventory 3
Percent Under Contract
23.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Brentwood
Jun. 2013
Jun. 2014
%Change
Median Price $2,190,000
$2,730,000
25%
28
-7%
$91,563,000
11%
22
0%
112
-2%
52
68%
4
0%
19.6%
2%
Properties Sold
30
Sales Volume $82,288,359
Properties Pending Sale
22
Properties For Sale 114
Average Days on Market
31
Months Supply of Inventory 4
Percent Under Contract
19.3%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Cheviot Hills - Rancho Park
Jun. 2013
Jun. 2014
%Change
Median Price $1,493,750
$1,765,000
18%
11
-21%
$21,174,000
-6%
5
-44%
22
-29%
31
19%
3
50%
22.7%
-22%
Properties Sold
14
Sales Volume $22,592,790
Properties Pending Sale
9
Properties For Sale 31
Average Days on Market
26
Months Supply of Inventory 2
Percent Under Contract
29.0%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Culver City
Jun. 2013
Jun. 2014
Median Price $778,500
$830,000
Properties Sold
20
%Change 7%
15
-25%
$12,568,500
-2%
25
12
-52%
Properties For Sale 68
47
-31%
23
-26%
3
50%
25.5%
-31%
Sales Volume $12,842,500
Properties Pending Sale
Average Days on Market
31
Months Supply of Inventory 2
Percent Under Contract
36.8%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Hancock Park - Wilshire
Jun. 2013
Jun. 2014
Median Price $1,211,500
$1,400,000
16%
22
-24%
Properties Sold
29
Sales Volume $41,889,200
Properties Pending Sale
32
Properties For Sale 128
Average Days on Market
47
Months Supply of Inventory 3
Percent Under Contract
25.0%
$43,653,000
4%
25
-22%
128
0%
59
26%
3
0%
19.5%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
-22%
Hollywood
Jun. 2013
Jun. 2014
Median Price $552,500
$975,228
77%
11
175%
$10,461,908
440%
11
22%
36
3%
35
-8%
2
-33%
30.6%
19%
Properties Sold
4
Sales Volume $1,937,000
Properties Pending Sale
9
Properties For Sale 35
Average Days on Market
38
Months Supply of Inventory 3
Percent Under Contract
25.7%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Hollywood Hills East
Jun. 2013
Jun. 2014
Median Price $1,017,500
$1,050,825
Properties Sold
20
%Change 3%
14
-30%
$17,864,650
-19%
11
19
73%
Properties For Sale 85
73
-14%
44
159%
2
-67%
26.0%
101%
Sales Volume $22,068,500
Properties Pending Sale
Average Days on Market
17
Months Supply of Inventory 6
Percent Under Contract
12.9%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Los Feliz
Jun. 2013
Jun. 2014
Median Price $1,153,225
$1,250,000
Properties Sold
28
Sales Volume $30,591,400
Properties Pending Sale
32
Properties For Sale 120
Average Days on Market
42
Months Supply of Inventory 2
Percent Under Contract
26.7%
8%
25
-11%
$34,170,500
12%
29
-9%
110
-8%
39
-7%
2
0%
26.4%
-1%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Malibu
Jun. 2013
Jun. 2014
Median Price $2,100,000
$2,150,000
Properties Sold
19
Sales Volume $54,323,300
Properties Pending Sale
21
Properties For Sale 244
Average Days on Market
118
Months Supply of Inventory 10
Percent Under Contract
8.6%
2%
13
-32%
$29,760,000
-45%
16
-24%
213
-13%
80
-32%
11
10%
7.5%
-13%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Malibu Beach
Jun. 2013
Jun. 2014
Median Price $3,940,000
$5,600,000
42%
5
25%
$31,580,000
113%
6
100%
82
-5%
201
319%
12
-56%
7.3%
110%
Properties Sold
4
Sales Volume $14,861,000
Properties Pending Sale
3
Properties For Sale 86
Average Days on Market
48
Months Supply of Inventory 27
Percent Under Contract
3.5%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Marina del Rey
Jun. 2013
Jun. 2014
Median Price $1,728,750
$2,650,500
53%
4
100%
$8,326,000
141%
1
-80%
16
-24%
24
-29%
14
367%
6.3%
-74%
Properties Sold
2
Sales Volume $3,457,500
Properties Pending Sale
5
Properties For Sale 21
Average Days on Market
34
Months Supply of Inventory 3
Percent Under Contract
23.8%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Mid Los Angeles
Jun. 2013
Jun. 2014
Median Price $400,000
$534,750
34%
30
15%
$11,998,500
23%
36
100%
152
17%
42
8%
3
-50%
23.7%
71%
Properties Sold
26
Sales Volume $9,744,200
Properties Pending Sale
18
Properties For Sale 130
Average Days on Market
39
Months Supply of Inventory 6
Percent Under Contract
13.8%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Mid Wilshire
Jun. 2013
Jun. 2014
Median Price $900,000
$695,000
Properties Sold
1
Sales Volume $0
Properties Pending Sale
2
Properties For Sale 32
Average Days on Market
24
Months Supply of Inventory 15
Percent Under Contract
6.3%
1 $695,000
-23% 0% #DIV/0!
12
500%
34
6%
69
188%
1
-93%
35.3%
465%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Pacific Palisades
Jun. 2013
Jun. 2014
Median Price $1,982,500
$2,550,000
29%
33
-8%
$97,053,000
-24%
Properties Sold
36
Sales Volume $128,344,828
Properties Pending Sale
36
Properties For Sale 145
Average Days on Market
42
Months Supply of Inventory 3
Percent Under Contract
24.8%
36
0%
115
-21%
42
0%
2
-33%
31.3%
26%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Palms - Mar Vista
Jun. 2013
Jun. 2014
Median Price $808,000
$1,040,500
29%
29
-3%
$31,772,550
13%
44
22%
100
20%
24
14%
1
0%
44.0%
1%
Properties Sold
30
Sales Volume $28,064,585
Properties Pending Sale
36
Properties For Sale 83
Average Days on Market
21
Months Supply of Inventory 1
Percent Under Contract
43.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Playa Vista
Jun. 2013
Jun. 2014
%Change
Median Price n/a
$1,242,000
#VALUE!
Properties Sold
0
Sales Volume $0
Properties Pending Sale
1
Properties For Sale 7
Average Days on Market
25
Months Supply of Inventory 6
Percent Under Contract
14.3%
5
#DIV/0!
$6,027,000
#DIV/0!
4
300%
10
43%
15
-40%
1
-83%
40.0%
180%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Santa Monica
Jun. 2013
Jun. 2014
%Change
Median Price $2,050,000
$1,900,000
-7%
25
4%
$62,293,500
7%
33
65%
101
11%
39
22%
2
-33%
32.7%
49%
Properties Sold
24
Sales Volume $58,368,111
Properties Pending Sale
20
Properties For Sale 91
Average Days on Market
32
Months 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
Silverlake - Echo Park
Jun. 2013
Jun. 2014
Median Price $744,500
$779,500
Properties Sold
32
Sales Volume $20,672,756
Properties Pending Sale
27
Properties For Sale 90
Average Days on Market
49
Months Supply of Inventory 2
Percent Under Contract
30.0%
5%
28
-13%
$18,899,500
-9%
31
15%
103
14%
32
-35%
2
0%
30.1%
0%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Sunset Strip - Hollywood Hills West
Jun. 2013
Jun. 2014
Median Price $1,576,500
$1,660,000
Properties Sold
54
Sales Volume $102,581,989
Properties Pending Sale
41
Properties For Sale 267
Average Days on Market
45
Months Supply of Inventory 5
Percent Under Contract
15.4%
5%
33
-39%
$64,794,246
-37%
43
5%
269
1%
44
-2%
4
-20%
16.0%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
4%
Venice
Jun. 2013
Jun. 2014
Median Price $1,400,000
$1,625,000
16%
28
33%
$38,376,645
24%
13
17
31%
Properties For Sale 76
63
-17%
20
-70%
2
-50%
27.0%
58%
Properties Sold
21
Sales Volume $30,990,967
Properties Pending Sale
Average Days on Market
66
Months Supply of Inventory 4
Percent Under Contract
17.1%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
West Hollywood
Jun. 2013
Jun. 2014
Median Price $930,000
$1,125,000
21%
13
63%
$16,439,500
119%
15
12
-20%
Properties For Sale 50
45
-10%
30
88%
2
0%
Properties Sold
8
Sales Volume $7,512,600
Properties Pending Sale
Average Days on Market
16
Months Supply of Inventory 2
Percent Under Contract
30.0%
26.7%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
-11%
West Los Angeles
Jun. 2013
Jun. 2014
Median Price $772,500
$875,000
13%
13
117%
$8,657,000
189%
8
100%
35
35%
25
127%
3
-50%
22.9%
49%
Properties Sold
6
Sales Volume $2,995,000
Properties Pending Sale
4
Properties For Sale 26
Average Days on Market
11
Months Supply of Inventory 6
Percent Under Contract
15.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Westwood - Century City
Jun. 2013
Jun. 2014
Median Price $1,311,250
$1,505,000
15%
15
-32%
$25,381,600
-24%
20
150%
64
23%
32
10%
2
-60%
31.3%
103%
Properties Sold
22
Sales Volume $33,355,110
Properties Pending Sale
8
Properties For Sale 52
Average Days on Market
29
Months Supply of Inventory 5
Percent Under Contract
15.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
RODEO REALTY MARKETING DEPARTMENT