Local Market Report
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
March 2012
March 2013
%Change
Median Price $2,136,000
$1,210,000
-43
11
-31
Properties Sold
16
Sales Volume $57,867,680
Properties Pending Sale
19
Properties For Sale 144
Average Days on Market
96
Month’s Supply of Inventory 6
Percent Under Contract
13.2
$18,586,026
-68
17
-11
109
-24
88
-8
5
-17
15.6
18
*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
March 2012
March 2013
Median Price $830,000
$995,500
20
16
23
$13,492,055
20
19
26
37
Properties For Sale 86
71
-17
54
15
1
-67
36.6
66
Properties Sold
13
Sales Volume $11,269,210
Properties Pending Sale
Average Days on Market
47
Month’s 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.
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%Change
Beverly Hills
March 2012
March 2013
%Change
Median Price $4,075,000
$4,610,587
13
12
-40
$63,579,430
-33
Properties Sold
20
Sales Volume $94,944,859
Properties Pending Sale
18
Properties For Sale 142
Average Days on Market
143
Month’s Supply of Inventory 6
Percent Under Contract
12.7
18
0
93
-35
97
-32
4
-33
19.4
53
*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.
March 2012
March 2013
%Change
Median Price $1,723,750
$2,192,000
27
15
7
$36,202,719
51
23
21
97
-34
51
-39
3
-50
23.7
82
Properties Sold
14
Sales Volume $23,931,500
Properties Pending Sale
19
Properties For Sale 146
Average Days on Market
84
Month’s Supply of Inventory 6
Percent Under Contract
13
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverlywood
March 2012
March 2013
Median Price $645,000
$707,000
13
13
-32
$10,185,500
-3
16
13
-19
Properties For Sale 71
32
-55
105
139
1
-67
40.6
80
Properties Sold
19
Sales Volume $10,542,225
Properties Pending Sale
Average Days on Market
44
Month’s Supply of Inventory 3
Percent Under Contract
22.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Brentwood
March 2012
March 2013
%Change
Median Price $1,680,000
$2,131,250
27
16
-16
$38,413,500
-18
16
-16
106
-18
54
-13
3
-57
Properties Sold
19
Sales Volume $46,602,013
Properties Pending Sale
19
Properties For Sale 130
Average Days on Market
62
Month’s Supply of Inventory 7
Percent Under Contract
14.6
15.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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3
Cheviot Hills - Rancho Park
March 2012
March 2013
%Change
Median Price $1,412,500
$1,433,444
1
8
0
Properties Sold
8
Sales Volume $12,585,000
Properties Pending Sale
9
Properties For Sale 34
Average Days on Market
36
Month’s Supply of Inventory 2
Percent Under Contract
26.5
$9,495,903
-25
11
22
22
-35
33
-8
1
-50
50
89
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Culver City
March 2012
March 2013 %Change
Median Price $538,000
$740,126
38
11
0
$7,998,126
64
17
18
6
Properties For Sale 68
50
-26
36
-36
2
-33
36
44
Properties Sold
11
Sales Volume $4,864,500
Properties Pending Sale
Average Days on Market
56
Month’s Supply of Inventory 3
Percent Under Contract
25
*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
March 2012
March 2013
Median Price $740,000
$815,000
10
17
-26
Properties Sold
23
Sales Volume $19,951,250
Properties Pending Sale
27
Properties For Sale 144
Average Days on Market
60
Month’s Supply of Inventory 4
Percent Under Contract
18.8
$20,362,500
%Change
2
21
-22
85
-41
43
-28
3
-25
24.7
32
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Hollywood
March 2012
March 2013
Median Price $338,500
$682,500
102
4
-20
$1,850,000
-12
5
-38
15
-64
47
-35
2
-50
33.3
75
Properties Sold
5
Sales Volume $2,102,000
Properties Pending Sale
8
Properties For Sale 42
Average Days on Market
72
Month’s Supply of Inventory 4
Percent Under Contract
19
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoMarketReports.com
%Change
Hollywood Hills East
March 2012
March 2013
%Change
Median Price $1,130,000
$1,112,000
-2
9
-31
$10,569,888
-47
14
19
36
Properties For Sale 85
55
-35
68
0
2
-50
34.5
110
Properties Sold
13
Sales Volume $19,964,000
Properties Pending Sale
Average Days on Market
68
Month’s Supply of Inventory 4
Percent Under Contract
16.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Los Feliz
March 2012
March 2013
Median Price $758,500
$930,000
23
27
-4
$29,592,000
5
16
21
31
Properties For Sale 96
83
-14
42
-53
2
-60
25.3
52
Properties Sold
28
Sales Volume $28,251,130
Properties Pending Sale
Average Days on Market
89
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.
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%Change
Malibu
March 2012
March 2013
%Change
Median Price $1,206,250
$1,280,000
6
21
31
$33,405,033
22
14
17
168
-32
84
98
17
Month’s Supply of Inventory 18
10
-44
8.3
72
Properties Sold
16
Sales Volume $27,315,000
Properties Pending Sale
12
Properties For Sale 247
Average Days on Market
Percent Under Contract
4.9
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Malibu Beach
March 2012
March 2013
%Change
Median Price $5,250,000
$6,239,975
19
2
-60
$12,479,950
-50
5
-38
78
-16
87
-60
13
30
6.4
-25
Properties Sold
5
Sales Volume $25,040,000
Properties Pending Sale
8
Properties For Sale 93
Average Days on Market
218
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.
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Marina del Rey
March 2012 Median Price $0
Properties Sold
0
Sales Volume $0
Properties Pending Sale
9
Properties For Sale 32
Average Days on Market
59
Month’s Supply of Inventory 2
Percent Under Contract
28.1
March 2013
%Change
$1,250,000
n/a
3
n/a
$6,700,000
n/a
5
-44
16
-50
75
27
2
0
31.3
11
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Mid Los Angeles
March 2012
March 2013
Median Price $249,500
$366,500
47
31
11
$9,266,000
116
31
11
116
-45
48
-38
1
-75
26.7
100
Properties Sold
28
Sales Volume $4,288,000
Properties Pending Sale
28
Properties For Sale 210
Average Days on Market
77
Month’s Supply of Inventory 4
Percent Under Contract
13.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Mid Wilshire
March 2012
March 2013
Median Price $400,000
$427,500
Properties Sold
3
Sales Volume $400,000
Properties Pending Sale
8
Properties For Sale 51
Average Days on Market
93
Month’s Supply of Inventory 5
Percent Under Contract
15.7
%Change 7
6
100
$1,820,000
355
5
-38
30
-41
70
-25
4
-20
16.7
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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6
Pacific Palisades
March 2012
March 2013
%Change
Median Price $1,689,500
$2,642,500
56
24
9
$72,517,545
49
36
33
112
-25
40
-45
2
-50
32.1
77
Properties Sold
22
Sales Volume $48,574,877
Properties Pending Sale
27
Properties For Sale 149
Average Days on Market
73
Month’s Supply of Inventory 4
Percent Under Contract
18.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Palms - Mar Vista
March 2012
March 2013
Median Price $811,000
$835,500
3
27
42
$21,212,527
34
38
73
76
-25
23
-63
1
-67
50
130
Properties Sold
19
Sales Volume $15,816,500
Properties Pending Sale
22
Properties For Sale 101
Average Days on Market
62
Month’s Supply of Inventory 3
Percent Under Contract
21.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoMarketReports.com
%Change
Playa Vista
March 2012
March 2013
Median Price $0
$0
n/a
0
n/a
$0
n/a
0
0
n/a
Properties For Sale 0
0
n/a
0
0
n/a
Month’s Supply of Inventory 0
0
n/a
n/a
n/a
Properties Sold
0
Sales Volume $0
Properties Pending Sale
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 RodeoMarketReports.com
%Change
Santa Monica
March 2012
March 2013
%Change
Median Price $1,575,000
$1,645,625
4
Properties Sold
25
Sales Volume $44,944,630
Properties Pending Sale
22
Properties For Sale 118
Average Days on Market
35
Month’s Supply of Inventory 4
Percent Under Contract
18.6
14
-44
$28,542,250
-36
20
-9
68
-42
45
29
2
-50
29.4
58
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Silverlake - Echo Park
March 2012
March 2013
Median Price $607,000
$612,000
Properties Sold
28
Sales Volume $16,339,500
Properties Pending Sale
24
Properties For Sale 119
Average Days on Market
90
Month’s Supply of Inventory 4
Percent Under Contract
20.2
%Change 1
24
-14
$15,855,250
-3
37
54
78
-34
36
-60
1
-75
47.4
135
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoMarketReports.com
Sunset Strip - Hollywood Hills West
March 2012
March 2013
%Change
Median Price $1,000,000
$1,300,000
30
45
32
$80,965,619
85
42
2
195
-32
78
-3
3
-40
21.5
50
Properties Sold
34
Sales Volume $43,742,160
Properties Pending Sale
41
Properties For Sale 286
Average Days on Market
80
Month’s Supply of Inventory 5
Percent Under Contract
14.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Venice
March 2012
March 2013
%Change
Median Price $1,000,000
$1,237,500
24
14
56
$19,037,000
95
22
5
71
-33
22
-69
2
-33
31
56
Properties Sold
9
Sales Volume $9,747,666
Properties Pending Sale
21
Properties For Sale 106
Average Days on Market
70
Month’s Supply of Inventory 3
Percent Under Contract
19.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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West Hollywood
March 2012
March 2013
%Change
Median Price $1,168,000
$1,325,000
13
17
143
$24,404,000
215
21
250
45
-15
58
-26
1
-86
46.7
312
Properties Sold
7
Sales Volume $7,759,500
Properties Pending Sale
6
Properties For Sale 53
Average Days on Market
78
Month’s Supply of Inventory 7
Percent Under Contract
11.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoMarketReports.com
West Los Angeles
March 2012
March 2013
Median Price $700,000
$685,000
Properties Sold
7
Sales Volume $2,552,500
Properties Pending Sale
4
Properties For Sale 38
Average Days on Market
22
Month’s Supply of Inventory 8
Percent Under Contract
10.5
%Change -2
17
143
$10,692,880
319
12
200
28
-26
63
186
1
-88
42.9
307
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoMarketReports.com
Westwood - Century City
March 2012
March 2013
%Change
Median Price $1,207,500
$1,250,000
4
Properties Sold
16
9
-44
$13,514,250
-41
22
21
-5
Properties For Sale 75
42
-44
21
-46
1
-50
50
70
Sales Volume $23,076,500
Properties Pending Sale
Average Days on Market
39
Month’s Supply of Inventory 2
Percent Under Contract
29.3
*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