Local Market Report
Los Angeles - Westside October 2013 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
Oct. 2012
Oct. 2013
%Change
Median Price $2,645,660
$2,414,000
-9
Properties Sold
25
150
Sales Volume $35,640,100
$90,229,800
153
Properties Pending Sale
20
33
Properties For Sale 138
129
-7
Average Days on Market
72
-26
Month’s Supply of Inventory 8
5
-38
Percent Under Contract
15.5
43
10
15
97
10.9
*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. 2012
Oct. 2013
%Change
Median Price $1,000,000
$1,375,000
38
23
35
$32,263,580
60
15
10
-33
Properties For Sale 58
54
-7
19
-61
4
33
18.5
-28
Properties Sold
17
Sales Volume $20,176,780
Properties Pending Sale
Average Days on Market
49
Month’s Supply of Inventory 3
Percent Under Contract
25.9
*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. 2012
Oct. 2013
%Change
Median Price $2,870,000
$6,000,000
3
Properties Sold
25
Sales Volume $77,481,500
Properties Pending Sale
23
Properties For Sale 130
Average Days on Market
74
Month’s Supply of Inventory 4
Percent Under Contract
17.7
13
-48
$121,468,175
57
21
-9
113
-13
111
50
4
0
18.6
5
*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.
Oct. 2012
Oct. 2013
%Change
Median Price $2,450,000
$2,417,500
-1
14
-18
$46,518,000
-26
14
17
132
2
42
-34
7
-13
10.6
15
Properties Sold
17
Sales Volume $62,990,000
Properties Pending Sale
12
Properties For Sale 130
Average Days on Market
64
Month’s Supply of Inventory 8
Percent Under Contract
9.2
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Beverlywood
Oct. 2012
Oct. 2013
%Change
Median Price $595,000
$942,500
58
18
38
$16,167,500
116
12
16
33
Properties For Sale 64
63
-2
25
-56
2
-50
25.4
35
Properties Sold
13
Sales Volume $7,501,000
Properties Pending Sale
Average Days on Market
57
Month’s Supply of Inventory 4
Percent Under Contract
18.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Brentwood
Oct. 2012
Oct. 2013
%Change
Median Price $1,501,000
$2,546,500
70
14
-26
$40,182,000
30
22
-29
117
-14
72
14
3
0
Properties Sold
19
Sales Volume $30,867,400
Properties Pending Sale
31
Properties For Sale 136
Average Days on Market
63
Month’s Supply of Inventory 3
Percent Under Contract
22.8
18.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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-18
Cheviot Hills - Rancho Park
Oct. 2012
Oct. 2013
%Change
Median Price $1,425,000
$1,577,500
11
6
20
$10,727,000
62
5
-29
18
-5
15
-80
2
100
27.8
-25
Properties Sold
5
Sales Volume $6,640,430
Properties Pending Sale
7
Properties For Sale 19
Average Days on Market
75
Month’s Supply of Inventory 1
Percent Under Contract
36.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Culver City
Oct. 2012
Oct. 2013
%Change
Median Price $702,5000
$773,500
10
18
0
$9,964,200
-9
24
16
-33
Properties For Sale 63
43
-32
27
-59
1
-0
37.2
-2
Properties Sold
18
Sales Volume $10,970,150
Properties Pending Sale
Average Days on Market
66
Month’s Supply of Inventory 1
Percent Under Contract
38.1
*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. 2012
Oct. 2013
%Change
Median Price $1,110,000
$1,427,500
29
29
26
$58,740,000
139
28
40
115
19
51
-53
3
0
24.3
18
Properties Sold
23
Sales Volume $24,604,360
Properties Pending Sale
20
Properties For Sale 97
Average Days on Market
109
Month’s Supply of Inventory 3
Percent Under Contract
20.6
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hollywood
Oct. 2012
Oct. 2013
%Change
Median Price $635,000
$505,000
-20
4
-50
$1,800,000
-58
6
50
27
13
74
-36
3
-40
22.2
33
Properties Sold
8
Sales Volume $4,429,000
Properties Pending Sale
4
Properties For Sale 24
Average Days on Market
115
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.
Rodeo Realty RodeoRE.com
Hollywood Hills East
Oct. 2012
Oct. 2013
%Change
Median Price $882,500
$1,048,250
19
20
0
$21,504,500
8
15
19
27
Properties For Sale 81
70
-14
49
-41
2
-50
27.1
47
Properties Sold
20
Sales Volume $19,948,001
Properties Pending Sale
Average Days on Market
83
Month’s 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
Los Feliz
Oct. 2012
Oct. 2013
%Change
Median Price $816,750
$1,680,710
106
18
-18
$32,427,862
95
19
12
78
-24
36
3
3
-40
24.4
48
Properties Sold
22
Sales Volume $16,628,500
Properties Pending Sale
17
Properties For Sale 103
Average Days on Market
35
Month’s Supply of Inventory 5
Percent Under Contract
16.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu
Oct. 2012
Oct. 2013
%Change
Median Price $1,616,775
$2,348,750
45
18
50
$48,413,001
130
19
-17
204
4
96
-21
8
14
9.3
-20
Properties Sold
12
Sales Volume $21,060,050
Properties Pending Sale
23
Properties For Sale 197
Average Days on Market
121
Month’s Supply of Inventory 7
Percent Under Contract
11.7
*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. 2012
Oct. 2013
Median Price $5,975,000
$14,700,000
146
1
-75
$14,700,000
-35
2
-60
78
-9
147
5
33
120
2.6
-56
Properties Sold
4
Sales Volume $22,500,000
Properties Pending Sale
5
Properties For Sale 86
Average Days on Market
140
Month’s Supply of Inventory 15
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
%Change
Marina del Rey
Oct. 2012
Oct. 2013
%Change
Median Price $1,240,000
$1,225,000
-1
4
33
$4,923,650
18
3
0
22
47
17
-85
5
25
13.6
-32
Properties Sold
3
Sales Volume $4,180,000
Properties Pending Sale
3
Properties For Sale 15
Average Days on Market
115
Month’s Supply of Inventory 4
Percent Under Contract
20.0
*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
Oct. 2012
Oct. 2013
%Change
Median Price $300,000
$420,000
40
33
65
$10,133,000
169
47
21
176
2
47
-33
2
-33
26.7
18
Properties Sold
20
Sales Volume $3,766,400
Properties Pending Sale
39
Properties For Sale 172
Average Days on Market
70
Month’s Supply of Inventory 3
Percent Under Contract
22.7
*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. 2012
Oct. 2013
%Change
Median Price $260,000
$644,500
148
4
33
$2,804,000
226
4
-33
22
-44
23
-85
3
-40
18.2
18
Properties Sold
3
Sales Volume $860,000
Properties Pending Sale
6
Properties For Sale 39
Average Days on Market
150
Month’s 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
Pacific Palisades
Oct. 2012
Oct. 2013
%Change
Median Price $2,400,000
$2,577,301
7
24
14
$67,945,103
11
29
26
127
-5
50
-46
3
-25
22.8
32
Properties Sold
21
Sales Volume $61,448,490
Properties Pending Sale
23
Properties For Sale 133
Average Days on Market
92
Month’s Supply of Inventory 4
Percent Under Contract
17.3
*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
Oct. 2013
%Change
Median Price $780,000
$980,102
26
35
13
$35,178,713
54
38
3
100
22
29
32
1
0
Properties Sold
31
Sales Volume $22,854,920
Properties Pending Sale
37
Properties For Sale 82
Average Days on Market
22
Month’s Supply of Inventory 1
Percent Under Contract
45.1
38.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-16
Playa Vista
Oct. 2012
Oct. 2013
%Change
Median Price $911,500
$1,230,000
35
1
0
$0
-100
1
0
100
Properties For Sale 2
3
50
n/a
n/a
n/a
n/a
0.0
-100
Properties Sold
1
Sales Volume $911,500
Properties Pending Sale
Average Days on Market
78
Month’s Supply of Inventory 1
Percent Under Contract
50.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Santa Monica
Oct. 2012
Oct. 2013
%Change
Median Price $2,000,000
$1,765,000
-12
21
11
$36,709,000
-8
23
-28
87
-17
40
-23
2
0
Properties Sold
19
Sales Volume $39,945,000
Properties Pending Sale
32
Properties For Sale 105
Average Days on Market
52
Month’s Supply of Inventory 2
Percent Under Contract
30.5
26.4
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-13
Silverlake - Echo Park
Oct. 2012
Oct. 2013
%Change
Median Price $650,000
$700,000
8
Properties Sold
17
Sales Volume $9,819,000
Properties Pending Sale
29
Properties For Sale 100
Average Days on Market
32
Month’s Supply of Inventory 2
Percent Under Contract
29.0
37
118
$19,971,000
103
42
45
96
-4
47
47
1
-50
43.8
51
*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. 2012
Oct. 2013
%Change
Median Price $1,400,000
$1,340,000
-4
35
3
$55,094,750
-7
43
5
280
-4
72
47
4
-20
Properties Sold
34
Sales Volume $59,558,810
Properties Pending Sale
41
Properties For Sale 291
Average Days on Market
49
Month’s Supply of Inventory 5
Percent Under Contract
14.1
15..4
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
9
Venice
Oct. 2012
Oct. 2013
%Change
Median Price $1,200,000
$1,375,000
15
18
-5
$27,446,000
-1
21
24
14
Properties For Sale 82
71
-13
33
-38
1
-67
33.8
32
Properties Sold
19
Sales Volume $27,727,175
Properties Pending Sale
Average Days on Market
53
Month’s Supply of Inventory 3
Percent Under Contract
25.6
*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. 2012
Oct. 2013
%Change
Median Price $1,725,200
$1,287,500
-25
14
180
$23,197,300
152
12
71
59
40
42
91
3
-40
20.3
22
Properties Sold
5
Sales Volume $9,190,200
Properties Pending Sale
7
Properties For Sale 42
Average Days on Market
22
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.
Rodeo Realty RodeoRE.com
West Los Angeles
Oct. 2012
Oct. 2013
%Change
Median Price $700,000
$724,250
3
10
25
$5,956,400
46
9
50
29
-9
45
15
2
-33
31.0
66
Properties Sold
8
Sales Volume $4,089,000
Properties Pending Sale
6
Properties For Sale 32
Average Days on Market
39
Month’s Supply of Inventory 3
Percent Under Contract
18.8
*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
Oct. 2012
Oct. 2013
%Change
Median Price $1,610,000
$1,275,000
-21
15
-29
$16,962,253
-51
Properties Sold
21
Sales Volume $34,591,675
Properties Pending Sale
22
22
0
Properties For Sale 53
61
15
46
-32
1
0
Average Days on Market
68
Month’s Supply of Inventory 1
Percent Under Contract
41.5
36.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-13
RODEO REALTY MARKETING DEPARTMENT