Local Market Report October 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
Oct. 2013
Median Price $2,414,000
Properties Sold
25
Sales Volume $90,229,800
Properties Pending Sale
17
Properties For Sale 136
Average Days on Market
82
Months Supply of Inventory 6
Percent Under Contract
12.5%
Oct. 2014
%Change
$2,011,100
-17%
10
-60%
$33,135,200
-63%
26
53%
130
-4%
73
-11%
4
-33%
20.0%
60%
*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
Oct. 2013 Median Price $1,431,250
Oct. 2014
%Change
$1,250,000
-13%
Properties Sold 22 Sales Volume $32,363,580
20
-9%
$28,882,500
-11%
10
13
30%
Properties For Sale 56
59
5%
63
232%
3
-25%
22.0%
23%
Properties Pending Sale
Average Days on Market
19
Months Supply of Inventory 4
Percent Under Contract
17.9%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills
Oct. 2013
Median Price $6,000,000
Properties Sold
13
Sales Volume $121,762,175
Properties Pending Sale
18
Properties For Sale 125
Average Days on Market
107
Months Supply of Inventory 5
Percent Under Contract
14.4%
Oct. 2014
%Change
$2,997,500
-50%
14 $66,923,260
-45%
14
-22%
98
-22%
140
31%
4
-20%
14.3%
-1%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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8%
Beverly Hills P.O.
Oct. 2013
Median Price $2,417,500
Properties Sold
14
Sales Volume $43,823,000
Properties Pending Sale
13
Properties For Sale 147
Average Days on Market
42
Months Supply of Inventory 9
Percent Under Contract
8.8%
Oct. 2014
%Change
$2,167,500
-10%
18
29%
$48,059,039
10%
15
15%
141
-4%
85
102%
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
Oct. 2013
Oct. 2014
%Change
Median Price $985,000
$930,500
-6%
20
43%
$24,149,150
49%
7
-46%
46
-25%
41
86%
4
33%
15.2%
-29%
Properties Sold
14
Sales Volume $16,167,500
Properties Pending Sale
13
Properties For Sale 61
Average Days on Market
22
Months Supply of Inventory 3
Percent Under Contract
21.3%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Brentwood
Oct. 2013
Median Price $2,546,500
Properties Sold
12
Sales Volume $40,182,000
Properties Pending Sale
19
Properties For Sale 122
Average Days on Market
53
Months Supply of Inventory 5
Percent Under Contract
15.6%
Oct. 2014
%Change
$2,989,500
17%
22
83%
$87,579,909
118%
29
53%
119
-2%
47
-11%
3
-40%
24.4%
56%
*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
Oct. 2013
Median Price $1,577,500
Properties Sold
6
Sales Volume $10,727,000
Properties Pending Sale
5
Properties For Sale 19
Average Days on Market
15
Months Supply of Inventory 3
Percent Under Contract
26.3%
Oct. 2014
%Change
$1,820,000
15%
7
17%
$12,858,120
20%
5
0%
23
21%
16
7%
3
0%
21.7%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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-17%
Culver City
Oct. 2013
Oct. 2014
%Change
$811,000
-2%
23
92%
$20,367,500
104%
13
17
31%
Properties For Sale 38
43
13%
41
32%
1
-50%
39.5%
16%
Median Price $830,000
Properties Sold
12
Sales Volume $9,964,200
Properties Pending Sale
Average Days on Market
31
Months Supply of Inventory 2
Percent Under Contract
34.2%
*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
Oct. 2013
Median Price $1,427,500
Properties Sold
29
Sales Volume $58,740,000
Properties Pending Sale
23
Properties For Sale 118
Average Days on Market
35
Months Supply of Inventory 4
Percent Under Contract
19.5%
Oct. 2014
%Change
$1,335,000
-6%
21
-28%
$40,027,136
-32%
27
17%
112
-5%
59
69%
3
-25%
24.1%
24%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hollywood
Oct. 2013
Oct. 2014
%Change
Median Price $560,000
$917,000
64%
9
80%
$7,578,000
167%
8
60%
28
40%
27
-61%
2
0%
28.6%
14%
Properties Sold
5
Sales Volume $2,835,000
Properties Pending Sale
5
Properties For Sale 20
Average Days on Market
70
Months Supply of Inventory 2
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
Hollywood Hills East
Oct. 2013
Median Price $1,048,250
Properties Sold
20
Oct. 2014
%Change
$1,138,750
9%
12
-40%
$15,144,250
-30%
16
12
-25%
Properties For Sale 73
66
-10%
41
-16%
4
33%
18.2%
-17%
Sales Volume $21,604,500
Properties Pending Sale
Average Days on Market
49
Months Supply of Inventory 3
Percent Under Contract
21.9%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Los Feliz
Oct. 2013 Median Price $1,680,710
Oct. 2014
%Change
$1,600,000
-5%
Properties Sold 18 Sales Volume $35,114,812
11
-39%
$19,329,055
-45%
Properties Pending Sale
19
19
0%
Properties For Sale 81
71
-12%
56
107%
2
-33%
26.8%
14%
Average Days on Market
27
Months Supply of Inventory 3
Percent Under Contract
23.5%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Malibu
Oct. 2013
Median Price $2,200,000
Properties Sold
19
Sales Volume $50,463,001
Properties Pending Sale
15
Properties For Sale 219
Average Days on Market
91
Months Supply of Inventory 12
Percent Under Contract
6.8%
Oct. 2014
%Change
$2,852,500
30%
14
-26%
$46,550,000
-8%
17
13%
194
-11%
136
49%
9
-25%
8.8%
28%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu Beach
Oct. 2013
Median Price $14,700,000
Properties Sold
1
Sales Volume $14,700,000
Properties Pending Sale
3
Properties For Sale 80
Average Days on Market
151
Months Supply of Inventory 23
Percent Under Contract
3.8%
Oct. 2014 $13,325,000
-9%
2
100%
$26,650,000
81%
3
0%
70
-13%
136
-10%
20
-13%
4.3%
14%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Marina del Rey
Oct. 2013
Median Price $1,650,000
Properties Sold
5
Sales Volume $6,573,650
Properties Pending Sale
2
Properties For Sale 22
Average Days on Market
24
Months Supply of Inventory 9
Percent Under Contract
9.1%
Oct. 2014
%Change
$780,000
-53%
5 $4,222,000
-36%
5
150%
21
-5%
23
-4%
2
-78%
23.8%
162%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
0%
Mid Los Angeles
Oct. 2013
Oct. 2014
%Change
Median Price $380,000
$547,200
44%
23
0%
$12,375,350
12%
18
17
-6%
Properties For Sale 99
72
-27%
48
-2%
3
-25%
23.6%
30%
Properties Sold
23
Sales Volume $11,032,000
Properties Pending Sale
Average Days on Market
49
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.
Rodeo Realty RodeoRE.com
Mid Wilshire
Oct. 2013
Oct. 2014
%Change
Median Price $644,500
$540,000
-16%
3
-25%
$1,533,700
-45%
Properties Sold
4
Sales Volume $2,804,000
Properties Pending Sale
2
Properties For Sale 22
Average Days on Market
45
Months Supply of Inventory 9
Percent Under Contract
9.1%
2
0%
18
-18%
16
-64%
7
-22%
11.1%
22%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Pacific Palisades
Oct. 2013
Median Price $2,577,301
Properties Sold
24
Sales Volume $67,945,103
Properties Pending Sale
25
Properties For Sale 132
Average Days on Market
56
Months Supply of Inventory 4
Percent Under Contract
18.9%
Oct. 2014
%Change
$2,200,000
-15%
22
-8%
$54,208,623
-20%
24
-4%
115
-13%
35
-38%
3
-25%
20.9%
10%
*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
Oct. 2013
Median Price $980,102
Properties Sold
35
Sales Volume $35,885,713
Properties Pending Sale
Oct. 2014
%Change
$1,175,000
20%
31
-11%
$38,779,900
8%
34
28
-18%
Properties For Sale 88
78
-11%
54
80%
1
0%
35.9%
-7%
Average Days on Market
30
Months Supply of Inventory 1
Percent Under Contract
38.6%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Playa Vista
Oct. 2013
Median Price n/a
Properties Sold
0
Sales Volume $0
Properties Pending Sale
Oct. 2014 $1,220,750 2 $2,441,500
0
1
Properties For Sale 5
5
Average Days on Market
n/a
Months Supply of Inventory n/a
Percent Under Contract
0.0%
10 3 20.0%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
0%
Santa Monica
Oct. 2013
Median Price $1,765,000
Properties Sold
19
Sales Volume $36,709,000
Properties Pending Sale
Oct. 2014
%Change
$2,225,000
26%
29
53%
$81,682,697
123%
22
22
0%
Properties For Sale 89
76
-15%
49
20%
2
-33%
28.9%
17%
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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Silverlake - Echo Park
Oct. 2013
Oct. 2014
%Change
Median Price $695,000
$946,500
36%
32
-3%
$36,542,627
68%
33
25
-24%
Properties For Sale 80
79
-1%
37
-21%
2
100%
31.6%
-23%
Properties Sold
33
Sales Volume $21,796,000
Properties Pending Sale
Average Days on Market
47
Months Supply of Inventory 1
Percent Under Contract
41.3%
*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
Oct. 2013
Median Price $1,340,000
Properties Sold
35
Sales Volume $55,094,750
Properties Pending Sale
34
Properties For Sale 300
Average Days on Market
64
Months Supply of Inventory 7
Percent Under Contract
11.3%
Oct. 2014
%Change
$2,050,525
53%
36
3%
$96,278,063
75%
41
21%
274
-9%
78
22%
5
-29%
15.0%
32%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Venice
Oct. 2013
Oct. 2014
%Change
$1,441,375
7%
18
-5%
$40,592,750
42%
24
24
0%
Properties For Sale 76
67
-12%
46
39%
1
-50%
35.8%
13%
Median Price $1,350,000
Properties Sold
19
Sales Volume $28,551,091
Properties Pending Sale
Average Days on Market
33
Months Supply of Inventory 2
Percent Under Contract
31.6%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Hollywood
Oct. 2013
Oct. 2014
%Change
$1,250,000
-6%
7
-53%
$11,910,055
-56%
10
12
20%
Properties For Sale 56
48
-14%
59
55%
3
-25%
25.0%
40%
Median Price $1,325,000
Properties Sold
15
Sales Volume $27,146,300
Properties Pending Sale
Average Days on Market
38
Months Supply of Inventory 4
Percent Under Contract
17.9%
*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
Oct. 2013
Oct. 2014
%Change
Median Price $720,000
$959,000
33%
13
44%
$13,567,916
103%
11
38%
32
33%
36
-25%
1
-50%
Properties Sold
9
Sales Volume $6,676,400
Properties Pending Sale
8
Properties For Sale 24
Average Days on Market
48
Months Supply of Inventory 2
Percent Under Contract
33.3%
34.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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3%
Westwood - Century City
Oct. 2013
Oct. 2014
%Change
$1,684,000
28%
12
-25%
$24,311,750
26%
20
14
-30%
Properties For Sale 63
53
-16%
47
-4%
2
0%
Median Price $1,320,000
Properties Sold
16
Sales Volume $19,222,253
Properties Pending Sale
Average Days on Market
49
Months Supply of Inventory 2
Percent Under Contract
31.7%
26.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-17%
RODEO REALTY MARKETING DEPARTMENT