Local Market Report September 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
Sept. 2013
Sept. 2014
%Change
Median Price $1,650,000
$3,105,000
88
9
31
$40,500,000
-2
8
-38
128
-10
60
-40
13
44
6.3
-32
Properties Sold
13
Sales Volume $41,406,800
Properties Pending Sale
13
Properties For Sale 142
Average Days on Market
100
Month’s Supply of Inventory 9
Percent Under Contract
9.2
*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
Sept 2013 Median Price $1,129,444
Sept 2014
%Change
$1,580,250
40
Properties Sold 18 Sales Volume $19,953,433
20
11
$34,590,500
73
15
22
47
Properties For Sale 55
69
25
39
11
2
0
31.9
17
Properties Pending Sale
Average Days on Market
35
Month’s Supply of Inventory 2
Percent Under Contract
27.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Beverly Hills
Sept 2013
Median Price $4,120,000
Properties Sold
13
Sales Volume $58,798,166
Properties Pending Sale
6
Properties For Sale 125
Average Days on Market
26
Month’s Supply of Inventory 18
Percent Under Contract
4.8
Sept 2014
%Change
$4,067,500
-1
10
-23
$46,482,500
-21
15
150
99
-21
57
119
4
-78
15.2
216
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Beverly Hills P.O.
Sept 2013
Median Price $1,700,000
Properties Sold
16
Sales Volume $39,332,000
Properties Pending Sale
16
Properties For Sale 158
Average Days on Market
71
Month’s Supply of Inventory 8
Percent Under Contract
10.1
Sept 2014
%Change
$3,250,000
91
7
-56
$33,655,000
-14
13
-19
132
-16
88
24
8
0
9.8
-3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverlywood
Sept 2013
Sept 2014
%Change
$1,000,000
-4
15
7
$15,092,000
16
14
20
43
Properties For Sale 67
64
-4
39
-17
2
-33
31.3
50
Median Price $1,040,000
Properties Sold
14
Sales Volume $13,042,500
Properties Pending Sale
Average Days on Market
47
Month’s Supply of Inventory 3
Percent Under Contract
20.9
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Brentwood
Sept 2013
Median Price $2,180,000
Properties Sold
20
Sales Volume $33,472,000
Properties Pending Sale
16
Properties For Sale 113
Average Days on Market
39
Month’s Supply of Inventory 5
Percent Under Contract
14.2
Sept 2014
%Change
$3,003,000
38
19
19
$69,220,146
107
22
38
110
-3
51
31
4
-20
20.0
41
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Cheviot Hills - Rancho Park
Sept 2013
Median Price $1,211,000
Properties Sold
9
Sales Volume $14,304,500
Properties Pending Sale
10
Properties For Sale 19
Average Days on Market
32
Month’s Supply of Inventory 1
Percent Under Contract
42.1
Sept 2014
%Change
$2,022,500
67
2
-78
$4,045,000
-72
7
-13
24
26
19
-41
2
100
29.2
-31
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Culver City
Sept 2013
Median Price $744,152
Properties Sold
24
Sales Volume $16,251,305
Sept 2014
%Change
$806,000
8
21
-13
$16,740,600
3
18
22
22
Properties For Sale 59
47
-20
35
-5
1
-50
46.8
53
Properties Pending Sale
Average Days on Market
37
Month’s Supply of Inventory 2
Percent Under Contract
30.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Hancock Park - Wilshire
Sept 2013
Median Price $1,140,000
Properties Sold
25
Sales Volume $32,470,000
Properties Pending Sale
30
Properties For Sale 134
Average Days on Market
36
Month’s Supply of Inventory 3
Percent Under Contract
22.4
Sept 2014
%Change
$1,330,000
17
13
-48
$20,978,770
-35
20
-33
125
-7
58
61
4
33
16.0
-29
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Hollywood
Sept 2013
Median Price $572,000
Properties Sold
5
Sales Volume $1,930,000
Properties Pending Sale
6
Properties For Sale 35
Average Days on Market
44
Month’s Supply of Inventory 4
Percent Under Contract
17.1
Sept 2014
%Change
$655,000
15
5
0
$5,139,000
166
10
67
33
-6
33
-48
2
-50
30.3
77
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Hollywood Hills East
Sept 2013
Median Price $1,095,000
Properties Sold
13
Sales Volume $15,437,830
Properties Pending Sale
Sept 2014
%Change
$1,166,000
6
11
-15
$12,362,737
-20
14
14
0
Properties For Sale 80
76
-5
63
2
4
0
18.4
5
Average Days on Market
62
Month’s Supply of Inventory 4
Percent Under Contract
17.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Los Feliz
Sept 2013 Median Price $1,309,500
Sep 2014
Properties Sold 20 Sales Volume $24,031,150
21
5
$35,973,000
50
16
18
13
Properties For Sale 90
88
-2
59
119
3
-25
20.5
15
Properties Pending Sale
Average Days on Market
27
Month’s Supply of Inventory 4
Percent Under Contract
17.8
$1,063,500
%Change -19
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Malibu
Sept 2013
Median Price $1,712,500
Properties Sold
18
Sales Volume $34,699,000
Properties Pending Sale
21
Properties For Sale 246
Average Days on Market
154
Months Supply of Inventory 10
Percent Under Contract
8.5%
Sept 2014
%Change
$3,372,500
97%
18
0%
$89,248,800
157%
17
-19%
211
-14%
132
-14%
10
0%
8.1%
-6%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Malibu Beach
Sept 2013
Median Price $5,353,750
Properties Sold
2
Sales Volume $10,707,500
Properties Pending Sale
3
Properties For Sale 87
Average Days on Market
92
Months Supply of Inventory 26
Percent Under Contract
3.4%
Sept 2014
%Change
$7,950,000
48%
3
50%
$23,150,000
116%
4
33%
70
-20%
188
104%
14
-46%
5.7%
66%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Marina del Rey
Sept 2013
Median Price $976,000
Properties Sold
3
Sales Volume $3,306,000
Properties Pending Sale
3
Properties For Sale 21
Average Days on Market
32
Months Supply of Inventory 6
Percent Under Contract
14.3%
Sept 2014
%Change
$1,557,500
60%
6
100%
$10,169,500
208%
4
33%
21
0%
41
28%
4
-33%
19.0%
33%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Mid Los Angeles
Sept 2013
Median Price $456,431
Properties Sold
22
Sales Volume $8,069,863
Properties Pending Sale
32
Properties For Sale 184
Average Days on Market
50
Months Supply of Inventory 4
Percent Under Contract
17.4%
Sept 2014
%Change
$575,000
26%
19
-14%
$7,782,500
-4%
29
-9%
156
-15%
35
-30%
4
0%
18.6%
7%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Mid Wilshire
Sept 2013
Median Price $527,500
Properties Sold
4
Sales Volume $1,650,000
Properties Pending Sale
5
Properties For Sale 39
Average Days on Market
70
Months Supply of Inventory 5
Percent Under Contract
12.8%
Sept 2014
%Change
$625,000
18%
5
25%
$2,944,000
78%
5
0%
22
-44%
72
3%
3
-40%
22.7%
77%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Pacific Palisades
Sept 2013
Median Price $2,255,000
Properties Sold
27
Sales Volume $68,184,299
Properties Pending Sale
13
Properties For Sale 112
Average Days on Market
51
Months Supply of Inventory 7
Percent Under Contract
11.6%
Sept 2014
%Change
$2,707,500
20%
26
-4%
$109,737,434
61%
28
115%
118
5%
60
18%
3
-57%
23.7%
104%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Palms - Mar Vista
Sept 2013
Sept 2014
%Change
$945,000
4%
25
0%
$24,848,525
11%
26
32
23%
Properties For Sale 99
93
-6%
34
113%
2
-33%
34.4%
31%
Median Price $905,000
Properties Sold
25
Sales Volume $22,358,000
Properties Pending Sale
Average Days on Market
16
Months Supply of Inventory 3
Percent Under Contract
26.3%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Playa Vista
Sept 2013
Median Price $1,192,500
Properties Sold
2
Sales Volume $2,385,000
Properties Pending Sale
Sept 2014
%Change
$1,555,000
30%
1
-50%
$1,555,000
-35%
0
5
Properties For Sale 5
7
Average Days on Market
n/a
Months Supply of Inventory n/a
Percent Under Contract
0.0%
40%
36 0 71.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Santa Monica
Sept 2013
Median Price $2,187,500
Properties Sold
18
Sales Volume $38,968,710
Properties Pending Sale
25
Properties For Sale 102
Average Days on Market
35
Months Supply of Inventory 3
Percent Under Contract
24.5%
Sept 2014
%Change
$1,979,000
-10%
25
39%
$54,188,324
39%
25
0%
80
-22%
37
6%
2
-33%
31.3%
28%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Silverlake - Echo Park
Sept 2013
Median Price $677,000
Properties Sold
33
Sales Volume $18,028,500
Properties Pending Sale
34
Properties For Sale 114
Average Days on Market
33
Months Supply of Inventory 2
Percent Under Contract
29.8%
Sept 2014
%Change
$825,000
22%
25
-24%
$21,089,500
17%
36
6%
105
-8%
36
9%
2
0%
34.3%
15%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Sunset Strip - Hollywood Hills West
Sept 2013
Median Price $1,444,000
Properties Sold
31
Sales Volume $56,457,550
Properties Pending Sale
36
Properties For Sale 303
Average Days on Market
43
Months Supply of Inventory 7
Percent Under Contract
11.9%
Sept 2014
%Change
$1,890,000
31%
30
-3%
$92,668,505
64%
32
-11%
276
-9%
64
49%
6
-14%
11.6%
-2%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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Venice
Sept 2013
Sept 2014
%Change
$1,332,500
-7%
8
-62%
$11,680,265
-68%
23
17
-26%
Properties For Sale 85
60
-29%
88
83%
2
-33%
Median Price $1,435,000
Properties Sold
21
Sales Volume $36,465,999
Properties Pending Sale
Average Days on Market
48
Months Supply of Inventory 3
Percent Under Contract
27.1%
28.3%
5%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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West Hollywood
Sept 2013
Median Price $1,025,000
Properties Sold
5
Sales Volume $6,154,200
Properties Pending Sale
8
Properties For Sale 61
Average Days on Market
36
Months Supply of Inventory 6
Percent Under Contract
13.1%
Sept 2014
%Change
$1,265,000
23%
11
120%
$14,219,325
131%
8
0%
45
-26%
85
136%
3
-50%
17.8%
36%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
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West Los Angeles
Sept 2013
Sept 2014
%Change
$922,500
22%
12
9%
$12,126,000
58%
10
15
50%
Properties For Sale 36
44
22%
40
8%
2
0%
34.1%
23%
Median Price $756,000
Properties Sold
11
Sales Volume $7,678,150
Properties Pending Sale
Average Days on Market
37
Months Supply of Inventory 2
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
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Westwood - Century City
Sept 2013
Sept 2014
%Change
$1,905,000
22%
18
29%
$36,248,550
72%
13
17
31%
Properties For Sale 63
60
-5%
38
36%
2
-50%
28.3%
37%
Median Price $1,567,500
Properties Sold
14
Sales Volume $21,082,000
Properties Pending Sale
Average Days on Market
28
Months Supply of Inventory 4
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
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