Local Market Report November 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
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
Nov. 2013
Median Price $1,979,750
Properties Sold
16
Sales Volume $47,039,148
Properties Pending Sale
12
Properties For Sale 129
Average Days on Market
109
Months Supply of Inventory 9
Percent Under Contract
9.3%
Nov. 2014
%Change
$1,755,000
-11%
12
-25%
$62,114,000
32%
16
33%
118
-9%
82
-25%
5
-44%
13.6%
46%
*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
Nov. 2013 Median Price $1,607,500
Nov. 2014
%Change
$1,499,549
-7%
Properties Sold 8 Sales Volume $12,435,000
16
100%
$27,188,603
119%
Properties Pending Sale
12
11
-8%
Properties For Sale 62
60
-3%
21
-51%
4
0%
18.3%
-5%
Average Days on Market
43
Months Supply of Inventory 4
Percent Under Contract
19.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills
Nov. 2013
Median Price $4,797,500
Properties Sold
10
Sales Volume $71,855,750
Properties Pending Sale
11
Properties For Sale 112
Average Days on Market
163
Months Supply of Inventory 8
Percent Under Contract
9.8%
Nov. 2014
%Change
$6,200,000
29%
9
-10%
$54,971,000
-23%
7
-36%
84
-25%
74
-55%
10
25%
8.3%
-15%
*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.
Nov. 2013
Median Price $1,679,000
Properties Sold
12
Sales Volume $26,129,800
Properties Pending Sale
12
Properties For Sale 136
Average Days on Market
70
Months Supply of Inventory 9
Percent Under Contract
8.8%
Nov. 2014
%Change
$2,595,000
55%
9
-25%
$36,425,500
39%
13
8%
123
-10%
85
21%
7
-22%
10.6%
20%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverlywood
Nov. 2013
Nov. 2014
%Change
$801,000
-6%
8
-43%
$6,705,000
-53%
12
15
25%
Properties For Sale 63
43
-32%
28
17%
1
-75%
34.9%
83%
Median Price $849,000
Properties Sold
14
Sales Volume $14,191,000
Properties Pending Sale
Average Days on Market
24
Months 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.
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Brentwood
Nov. 2013
Median Price $2,082,500
Properties Sold
16
Sales Volume $46,216,450
Properties Pending Sale
17
Properties For Sale 112
Average Days on Market
64
Months Supply of Inventory 5
Percent Under Contract
15.2%
Nov. 2014
%Change
$224,955
-89%
19
19%
$53,398,215
16%
22
29%
105
-6%
50
-22%
3
-40%
21.0%
38%
*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
Nov. 2013
Median Price $1,511,500
Properties Sold
4
Sales Volume $5,723,000
Properties Pending Sale
4
Properties For Sale 16
Average Days on Market
42
Months Supply of Inventory 3
Percent Under Contract
25.0%
Nov. 2014
%Change
$1,475,000
-2%
5
25%
$8,870,000
55%
10
150%
23
44%
64
52%
1
-67%
43.5%
74%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Culver City
Nov. 2013
Nov. 2014
%Change
$825,000
4%
8
0%
$7,616,500
24%
11
12
9%
Properties For Sale 39
37
-5%
36
-39%
2
0%
32.4%
15%
Median Price $790,750
Properties Sold
8
Sales Volume $6,135,300
Properties Pending Sale
Average Days on Market
59
Months Supply of Inventory 2
Percent Under Contract
28.2%
*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
Nov. 2013
Median Price $1,475,000
Properties Sold
23
Sales Volume $40,513,184
Properties Pending Sale
16
Properties For Sale 110
Average Days on Market
46
Months Supply of Inventory 5
Percent Under Contract
14.5%
Nov. 2014
%Change
$1,338,500
-9%
22
-4%
$39,507,500
-2%
25
56%
96
-13%
65
41%
2
-60%
26.0%
79%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Hollywood
Nov. 2013
Median Price $618,000
Properties Sold
5
Sales Volume $3,319,250
Properties Pending Sale
3
Properties For Sale 16
Average Days on Market
69
Months Supply of Inventory 3
Percent Under Contract
18.8%
Nov. 2014
%Change
$795,000
29%
7
40%
$5,190,000
56%
7
133%
21
31%
41
-41%
2
-33%
33.3%
78%
*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
Nov. 2013
Median Price $940,000
Properties Sold
11
Sales Volume $11,035,000
Properties Pending Sale
3
Properties For Sale 57
Average Days on Market
33
Months Supply of Inventory 16
Percent Under Contract
5.3%
Nov. 2014
%Change
$1,100,000
17%
9
-18%
$8,556,000
-22%
8
167%
55
-4%
43
30%
5
-69%
14.5%
176%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Los Feliz
Nov. 2013 Median Price $1,149,000
Nov. 2014
%Change
$1,301,800
13%
Properties Sold 13 Sales Volume $15,009,500
18
38%
$28,733,600
91%
12
17
42%
Properties For Sale 79
65
-18%
35
-24%
2
-60%
26.2%
72%
Properties Pending Sale
Average Days on Market
46
Months Supply of Inventory 5
Percent Under Contract
15.2%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Malibu
Nov. 2013
Median Price $1,850,000
Properties Sold
19
Sales Volume $46,068,430
Properties Pending Sale
16
Properties For Sale 200
Average Days on Market
111
Months Supply of Inventory 16
Percent Under Contract
8.0%
Nov. 2014
%Change
$2,108,464
14%
12
-37%
$22,834,428
-50%
13
-19%
190
-5%
134
21%
13
-19%
6.8%
-14%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Malibu Beach
Nov. 2013
Median Price $5,075,000
Properties Sold
2
Sales Volume $10,150,000
Properties Pending Sale
7
Properties For Sale 73
Average Days on Market
217
Months Supply of Inventory 9
Percent Under Contract
9.6%
Nov. 2014
%Change
$8,200,000
62%
4
100%
$33,892,222
234%
3
-57%
68
-7%
125
-42%
19
111%
4.4%
-54%
*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
Nov. 2013
Median Price $1,900,000
Properties Sold
3
Sales Volume $6,500,000
Properties Pending Sale
2
Properties For Sale 22
Average Days on Market
40
Months Supply of Inventory 2
Percent Under Contract
9.1%
Nov. 2014
%Change
$1,200,000
-37%
5
67%
$10,665,000
64%
1
-50%
15
-32%
162
305%
1
-50%
6.7%
-27%
*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
Nov. 2013
Median Price $490,000
Properties Sold
17
Nov. 2014
%Change
$515,000
5%
13
-24%
$6,567,550
-28%
21
14
-33%
Properties For Sale 85
70
-18%
50
22%
4
33%
20.0%
-19%
Sales Volume $9,098,000
Properties Pending Sale
Average Days on Market
41
Months Supply of Inventory 3
Percent Under Contract
24.7%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Mid Wilshire
Nov. 2013
Median Price $631,000
Properties Sold
4
Sales Volume $1,512,000
Properties Pending Sale
2
Properties For Sale 21
Average Days on Market
58
Months Supply of Inventory 8
Percent Under Contract
9.5%
Nov. 2014
%Change
$488,750
-23%
2
-50%
$977,500
-35%
4
100%
21
0%
128
121%
4
-50%
19.0%
100%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Pacific Palisades
Nov. 2013
Median Price $2,150,000
Properties Sold
15
Sales Volume $33,615,000
Properties Pending Sale
20
Properties For Sale 122
Average Days on Market
40
Months Supply of Inventory 4
Percent Under Contract
16.4%
Nov. 2014
%Change
$2,539,400
18%
18
20%
$59,211,967
76%
17
-15%
103
-16%
30
-25%
4
0%
16.5%
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
Nov. 2013
Nov. 2014
%Change
$1,155,145
3%
25
-4%
$28,869,145
-3%
20
17
-15%
Properties For Sale 66
62
-6%
40
14%
2
0%
Median Price $1,121,000
Properties Sold
26
Sales Volume $29,622,965
Properties Pending Sale
Average Days on Market
35
Months Supply of Inventory 2
Percent Under Contract
30.3%
27.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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-10%
Playa Vista
Nov. 2013
Median Price n/a
Properties Sold
0
Sales Volume $0
Properties Pending Sale
Nov. 2014
%Change
$1,182,500 2 $2,365,000
1
1
0%
Properties For Sale 6
4
-33%
12
71%
3
-25%
25.0%
50%
Average Days on Market
7
Months Supply of Inventory 4
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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Santa Monica
Nov. 2013
Median Price $2,085,750
Properties Sold
19
Nov. 2014
%Change
$2,184,100
5%
13
-32%
$34,535,600
-16%
14
17
21%
Properties For Sale 77
67
-13%
46
28%
3
-25%
25.4%
40%
Sales Volume $41,157,838
Properties Pending Sale
Average Days on Market
36
Months Supply of Inventory 4
Percent Under Contract
18.2%
*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
Nov. 2013
Nov. 2014
%Change
$732,500
-14%
18
-10%
$16,246,655
-15%
18
21
17%
Properties For Sale 59
83
41%
40
29%
2
0%
Median Price $850,000
Properties Sold
20
Sales Volume $19,163,778
Properties Pending Sale
Average Days on Market
31
Months Supply of Inventory 2
Percent Under Contract
30.5%
25.3%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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-17%
Sunset Strip - Hollywood Hills West
Nov. 2013
Median Price $1,400,000
Properties Sold
29
Sales Volume $55,503,214
Properties Pending Sale
27
Properties For Sale 268
Average Days on Market
56
Months Supply of Inventory 8
Percent Under Contract
10.1%
Nov. 2014
%Change
$1,830,000
31%
24
-17%
$52,028,775
-6%
29
7%
253
-6%
58
4%
6
-25%
11.5%
14%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Venice
Nov. 2013
Nov. 2014
%Change
$1,750,000
49%
15
-12%
$29,104,450
14%
10
11
10%
Properties For Sale 54
54
0%
49
-45%
3
-25%
20.4%
10%
Median Price $1,175,000
Properties Sold
17
Sales Volume $25,465,250
Properties Pending Sale
Average Days on Market
89
Months Supply of Inventory 4
Percent Under Contract
18.5%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Hollywood
Nov. 2013
Median Price $1,050,000
Properties Sold
5
Sales Volume $5,066,000
Properties Pending Sale
10
Properties For Sale 56
Average Days on Market
67
Months Supply of Inventory 4
Percent Under Contract
17.9%
Nov. 2014
%Change
$1,075,000
2%
7
40%
$11,683,400
131%
8
-20%
49
-13%
18
-73%
4
0%
16.3%
-9%
*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
Nov. 2013
Median Price $845,000
Properties Sold
7
Sales Volume $6,134,500
Properties Pending Sale
7
Properties For Sale 21
Average Days on Market
40
Months Supply of Inventory 2
Percent Under Contract
33.3%
Nov. 2014
%Change
$905,000
7%
7
0%
$6,270,200
2%
4
-43%
26
24%
43
8%
4
100%
15.4%
-54%
*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
Nov. 2013
Median Price $1,600,000
Properties Sold
15
Sales Volume $26,221,500
Properties Pending Sale
18
Properties For Sale 51
Average Days on Market
25
Months Supply of Inventory 2
Percent Under Contract
35.3%
Nov. 2014
%Change
$1,523,000
-5%
14
-7%
$23,600,000
-10%
7
-61%
43
-16%
29
16%
4
100%
16.3%
-54%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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