Local Market Report March 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
Mar. 2013
Mar. 2014
%Change
Median Price $1,285,000
$1,980,000
54
Properties Sold
17
31
Sales Volume $37,886,026
$157,238,000
315
Properties Pending Sale
13
-13
Properties For Sale 123
98
-20
Average Days on Market
93
11
Month’s Supply of Inventory 6
6
0
Percent Under Contract
13.3
9
13
15
84
12.2
*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
Mar. 2013
Mar. 2014
%Change
Median Price $995,500
$1,110,000
12
17
6
$21,839,500
62
24
19
-21
Properties For Sale 78
65
-17
35
-38
2
0
29.2
-5
Properties Sold
16
Sales Volume $13,492,055
Properties Pending Sale
Average Days on Market
56
Month’s Supply of Inventory 2
Percent Under Contract
30.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills
Mar. 2013
Mar. 2014
%Change
Median Price $4,610,587
$4,650,000
1
Properties Sold
14
Sales Volume $71,809,430
Properties Pending Sale
17
Properties For Sale 106
Average Days on Market
93
Month’s Supply of Inventory 5
Percent Under Contract
16.0
11
-21
$60,307,270
-16
18
6
86
-19
101
9
3
-40
20.9
31
*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.
Mar. 2013
Median Price $2,192,000
Properties Sold
15
Sales Volume $36,202,719
Properties Pending Sale
21
Properties For Sale 111
Average Days on Market
52
Month’s Supply of Inventory 4
Percent Under Contract
18.9
Mar. 2014
%Change
$2,624,000
20
12
-20
$65,293,897
80
18
-14
117
5
99
90
5
25
15.4
-19
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Beverlywood
Mar. 2013
Mar. 2014
%Change
Median Price $691,000
$895,000
30
17
13
$18,121,000
57
14
14
0
Properties For Sale 45
60
33
38
-63
3
50
23.3
-25
Properties Sold
15
Sales Volume $11,511,799
Properties Pending Sale
Average Days on Market
102
Month’s Supply of Inventory 2
Percent Under Contract
31.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Brentwood
Mar. 2013
Mar. 2014
%Change
Median Price $2,150,000
$2,740,000
27
7
-53
$18,490,000
-52
Properties Sold
15
Sales Volume $38,413,500
Properties Pending Sale
23
Properties For Sale 117
Average Days on Market
52
Month’s Supply of Inventory 4
Percent Under Contract
19.7
24
4
112
-4
54
4
3
-25
21.4
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
9
Cheviot Hills - Rancho Park
Mar. 2013
Mar. 2014
%Change
Median Price $1,433,444
$1,525,900
6
Properties Sold
8
Sales Volume $9,495,903
Properties Pending Sale
10
Properties For Sale 24
Average Days on Market
17
Month’s Supply of Inventory 1
Percent Under Contract
41.7
2
-75
$3,051,800
-68
9
-10
22
-8
11
-35
1
0
40.9
-2
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Culver City
Mar. 2013
Mar. 2014
%Change
Median Price $740,063
$742,500
0
Properties Sold
12
8
-33
$4,066,000
-53
14
26
86
Properties For Sale 55
41
-25
35
17
0
-100
63.4
149
Sales Volume $8,738,126
Properties Pending Sale
Average Days on Market
30
Month’s Supply of Inventory 3
Percent Under Contract
25.5
*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
Mar. 2013
Mar. 2014
%Change
Median Price $815,000
$1,147,500
41
22
16
$34,621,160
65
30
43
117
4
42
8
3
-25
25.6
38
Properties Sold
19
Sales Volume $20,922,500
Properties Pending Sale
21
Properties For Sale 113
Average Days on Market
39
Month’s Supply of Inventory 4
Percent Under Contract
18.6
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hollywood
Mar. 2013
Mar. 2014
%Change
Median Price $682,500
$1,175,000
72
5
25
$2,115,000
14
3
-40
26
13
17
-64
6
50
11.5
-47
Properties Sold
4
Sales Volume $1,850,000
Properties Pending Sale
5
Properties For Sale 23
Average Days on Market
47
Month’s Supply of Inventory 4
Percent Under Contract
21.7
*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
Mar. 2013
Mar. 2014
%Change
Median Price $1,112,000
$1,008,750
-9
8
-11
$7,755,995
-27
18
12
-33
Properties For Sale 62
60
-3
43
-39
4
100
20.0
-31
Properties Sold
9
Sales Volume $10,569,888
Properties Pending Sale
Average Days on Market
70
Month’s 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.
Rodeo Realty RodeoRE.com
Los Feliz
Mar. 2013
Mar. 2014
%Change
Median Price $915,000
$1,020,000
11
21
-25
$34,332,000
13
25
14
99
-1
26
-45
2
-33
25.3
15
Properties Sold
28
Sales Volume $30,492,000
Properties Pending Sale
22
Properties For Sale 100
Average Days on Market
47
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
Malibu
Mar. 2013
Mar. 2014
%Change
Median Price $1,280,000
$1,870,000
46
9
-57
$20,767,000
-38
19
73
188
-1
105
21
8
-50
10.1
75
Properties Sold
21
Sales Volume $33,405,033
Properties Pending Sale
11
Properties For Sale 190
Average Days on Market
87
Month’s Supply of Inventory 16
Percent Under Contract
5.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu Beach
Mar. 2013
Mar. 2014
%Change
Median Price $10,500,000
$6,332,500
-40
4
20
$22,665,000
-48
4
-50
72
-14
140
94
16
78
5.6
-42
Properties Sold
5
Sales Volume $43,794,950
Properties Pending Sale
8
Properties For Sale 84
Average Days on Market
72
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
Marina del Rey
Mar. 2013
Mar. 2014
%Change
Median Price $1,250,000
$1,150,000
-8
5
67
$4,885,000
-27
9
80
24
33
42
-44
2
-33
37.5
35
Properties Sold
3
Sales Volume $6,700,000
Properties Pending Sale
5
Properties For Sale 18
Average Days on Market
75
Month’s Supply of Inventory 3
Percent Under Contract
27.8
*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
Mar. 2013
Mar. 2014
%Change
Median Price $366,500
$413,500
13
36
16
$10,370,000
12
32
-32
133
1
47
18
3
50
24.1
-32
Properties Sold
31
Sales Volume $9,266,000
Properties Pending Sale
47
Properties For Sale 132
Average Days on Market
40
Month’s Supply of Inventory 2
Percent Under Contract
35.6
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Mid Wilshire
Mar. 2013
Mar. 2014
%Change
Median Price $427,500
$850,000
99
1
-83
850,000
-53
6
50
30
-14
96
22
4
-33
20.0
75
Properties Sold
6
Sales Volume $1,820,000
Properties Pending Sale
4
Properties For Sale 35
Average Days on Market
79
Month’s Supply of Inventory 6
Percent Under Contract
11.4
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Pacific Palisades
Mar. 2013
Mar. 2014
%Change
Median Price $2,642,500
$2,622,500
-1
30
25
$105,616,485
46
34
6
132
13
48
23
2
-33
25.8
-6
Properties Sold
24
Sales Volume $72,517,545
Properties Pending Sale
32
Properties For Sale 117
Average Days on Market
39
Month’s Supply of Inventory 3
Percent Under Contract
27.4
*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
Mar. 2013
Mar. 2014
%Change
Median Price $815,250
$1,275,000
56
26
-7
$30,656,000
40
34
32
-6
Properties For Sale 83
74
-11
25
4
1
0
43.2
6
Properties Sold
28
Sales Volume $21,962,527
Properties Pending Sale
Average Days on Market
24
Month’s Supply of Inventory 1
Percent Under Contract
41.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Playa Vista
Mar. 2013
Mar 2014
Median Price n/a
n/a
n/a
0
1
100
Sales Volume 0
0
0
0
1
100
Properties For Sale 5
4
-20
n/a
9
n/a
Month’s Supply of Inventory n/a
2
n/a
25.0
n/a
Properties Sold
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 RodeoRE.com
%Change
Santa Monica
Mar. 2013
Mar. 2014
%Change
Median Price $1,645,625
$2,312,500
41
14
0
$37,512,360
31
20
17
-15
Properties For Sale 80
71
-11
34
-24
3
0
23.9
-4
Properties Sold
14
Sales Volume $28,542,250
Properties Pending Sale
Average Days on Market
45
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
Silverlake - Echo Park
Mar. 2013
Mar. 2014
%Change
Median Price $612,000
$702,261
15
21
-13
$37,512,360
31
30
38
27
Properties For Sale 86
99
15
37
16
1
-50
38.4
10
Properties Sold
24
Sales Volume $28,542,250
Properties Pending Sale
Average Days on Market
32
Month’s Supply of Inventory 2
Percent Under Contract
34.9
*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
Mar. 2013
Mar. 2014
%Change
Median Price $1,345,350
$1,890,500
41
32
-30
$75,335,707
-12
Properties Sold
46
Sales Volume $85,540,619
Properties Pending Sale
39
Properties For Sale 238
Average Days on Market
79
Month’s Supply of Inventory 5
Percent Under Contract
16.6
42
8
248
6
83
5
4
-20
16.9
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
2
Venice
Mar. 2013
Mar. 2014
%Change
Median Price $1,235,000
$1,629,150
32
20
33
$75,335,707
-12
20
22
10
Properties For Sale 82
60
-27
61
165
1
-67
36.7
50
Properties Sold
15
Sales Volume $85,540,619
Properties Pending Sale
Average Days on Market
23
Month’s Supply of Inventory 3
Percent Under Contract
24.4
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Hollywood
Mar. 2013
Mar. 2014
%Change
Median Price $1,250,000
$1,087,500
-13
6
-71
$6,753,000
-76
21
14
-33
Properties For Sale 51
41
-20
73
26
2
100
34.1
-17
Properties Sold
21
Sales Volume 28,114,000
Properties Pending Sale
Average Days on Market
58
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
West Los Angeles
Mar. 2013
Mar. 2014
%Change
Median Price $696,000
$865,000
24
7
-56
$5,407,000
-49
9
-10
30
11
21
-70
2
0
Properties Sold
16
Sales Volume $10,692,880
Properties Pending Sale
10
Properties For Sale 27
Average Days on Market
71
Month’s Supply of Inventory 2
Percent Under Contract
37.0
30.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-19
Westwood - Century City
Mar. 2013
Mar. 2014
%Change
Median Price $1,250,000
$1,950,000
56
11
22
$16,794,800
24
20
14
-30
Properties For Sale 45
39
-13
27
35
2
50
35.9
-19
Properties Sold
9
Sales Volume $13,514,250
Properties Pending Sale
Average Days on Market
20
Month’s Supply of Inventory 1
Percent Under Contract
44.4
*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