Local Market Report
Los Angeles - Westside September 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
Sept. 2012
Sept. 2013
%Change
Median Price $1,378,999
$1,650,000
20
Properties Sold
13
-24
17
Sales Volume $44,627,388
Properties Pending Sale
10
$41,406,800
-7
15
50
Properties For Sale 132
131
-1
Average Days on Market
111
5
106
Month’s Supply of Inventory 11
7
-36
Percent Under Contract
11.5
51
7.6
*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. 2012
Sept. 2013
%Change
Median Price $1,075,000
$1,129,444
5
18
20
$19,953,433
16
14
14
0
Properties For Sale 65
47
-28
33
-59
2
-33
29.8
38
Properties Sold
15
Sales Volume $17,170,530
Properties Pending Sale
Average Days on Market
80
Month’s Supply of Inventory 3
Percent Under Contract
21.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills
Sept. 2012
Sept. 2013
%Change
Median Price $3,984,531
$4,120,000
3
13
-7
$58,798,166
-20
8
-56
133
22
79
54
-32
Month’s Supply of Inventory 6
11
83
6.0
-64
Properties Sold
14
Sales Volume $73,406,448
Properties Pending Sale
18
Properties For Sale 109
Average Days on Market
Percent Under Contract
16.5
*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.
Sept. 2012
Sept. 2013
%Change
Median Price $1,861,250
$1,700,000
-9
16
0
$39,332,000
31
17
21
136
9
68
-46
6
-14
12.5
12
Properties Sold
16
Sales Volume $30,004,370
Properties Pending Sale
14
Properties For Sale 125
Average Days on Market
125
Month’s Supply of Inventory 7
Percent Under Contract
11.2
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Beverlywood
Sept. 2012
Sept. 2013
%Change
Median Price $752,500
$1,040,000
38
14
-13
$13,061,000
13
17
143
61
11
53
61
2
-71
27.9
119
Properties Sold
16
Sales Volume $11,573,500
Properties Pending Sale
7
Properties For Sale 55
Average Days on Market
33
Month’s Supply of Inventory 7
Percent Under Contract
12.7
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Brentwood
Sept. 2012
Sept. 2013
%Change
Median Price $1,796,241
$2,180,000
21
26
-11
$33,472,000
-14
Properties Sold
18
Sales Volume $38,709,558
Properties Pending Sale
16
Properties For Sale 122
Average Days on Market
76
Month’s Supply of Inventory 6
Percent Under Contract
13.1
16
0
106
-13
39
-49
5
-17
15.1
15
*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
Sept. 2012
Sept. 2013
%Change
Median Price $1,162,500
$1,211,000
4
Properties Sold
2
Sales Volume $2,325,000
Properties Pending Sale
3
Properties For Sale 23
Average Days on Market
38
Month’s Supply of Inventory 5
Percent Under Contract
13.0
9
250
$13,554,500
483
8
167
16
-30
32
-16
1
-80
50.0
283
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Culver City
Sept. 2012
Sept. 2013
Median Price $647,500
$757,250
17
22
0
$14,763,000
12
12
18
50
Properties For Sale 61
54
-11
37
3
1
-75
33.3
69
Properties Sold
22
Sales Volume $13,222,265
Properties Pending Sale
Average Days on Market
36
Month’s Supply of Inventory 4
Percent Under Contract
19.7
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Hancock Park - Wilshire
Sept. 2012
Sept. 2013
%Change
Median Price $825,000
$1,140,000
38
25
0
$32,470,000
43
31
19
123
16
35
-48
2
-33
Properties Sold
25
Sales Volume $22,755,870
Properties Pending Sale
26
Properties For Sale 106
Average Days on Market
67
Month’s Supply of Inventory 3
Percent Under Contract
24.5
25.2
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
3
Hollywood
Sept. 2012
Sept. 2013
Median Price $850,000
$572,000
-33
5
67
$1,930,000
45
9
-10
32
0
41
-9
2
0
Properties Sold
3
Sales Volume $1,329,000
Properties Pending Sale
10
Properties For Sale 32
Average Days on Market
45
Month’s Supply of Inventory 2
Percent Under Contract
31.3
28.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
-10
Hollywood Hills East
Sept. 2012
Sept. 2013
%Change
Median Price $1,000,000
$1,095,000
10
13
18
$15,437,830
106
17
15
-12
Properties For Sale 84
72
-14
60
-38
3
-25
Properties Sold
11
Sales Volume $7,507,000
Properties Pending Sale
Average Days on Market
96
Month’s Supply of Inventory 4
Percent Under Contract
20.2
20.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
3
Los Feliz
Sept. 2012
Sept. 2013
%Change
Median Price $852,000
$1,320,000
55
19
-5
$22,931,150
1
Properties Sold
20
Sales Volume $22,760,330
Properties Pending Sale
20
Properties For Sale 105
Average Days on Market
75
Month’s Supply of Inventory 3
Percent Under Contract
19.0
16
-20
82
-22
100
33
3
0
19.5
2
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu
Sept. 2012
Sept. 2013
%Change
Median Price $2,151,228
$1,712,500
-20
18
13
$34,699,000
-20
24
26
227
4
141
24
7
-22
10.6
22
Properties Sold
16
Sales Volume $43,495,207
Properties Pending Sale
19
Properties For Sale 219
Average Days on Market
114
Month’s Supply of Inventory 9
Percent Under Contract
8.7
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu Beach
Sept. 2012
Sept. 2013
%Change
Median Price $6,500,000
$5,353,750
-18
2
-71
$10,707,500
-85
3
-25
80
-15
92
-15
23
15
3.8
-12
Properties Sold
7
Sales Volume $72,718,890
Properties Pending Sale
4
Properties For Sale 94
Average Days on Market
108
Month’s Supply of Inventory 20
Percent Under Contract
4.3
*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
Sept. 2012
Sept. 2013
Median Price $1,494,500
$976,000
-35
1
-67
$976,000
-73
Properties Sold
3
Sales Volume $3,588,500
Properties Pending Sale
3
Properties For Sale 19
Average Days on Market
43
Month’s Supply of Inventory 4
Percent Under Contract
15.8
3
0
20
5
32
-26
5
25
15.0
-5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Mid Los Angeles
Sept. 2012
Sept. 2013
Median Price $320,250
$456,431
43
22
10
$8,069,863
146
37
42
166
8
47
-15
3
-40
22.3
31
Properties Sold
20
Sales Volume $3,283,400
Properties Pending Sale
26
Properties For Sale 153
Average Days on Market
55
Month’s Supply of Inventory 5
Percent Under Contract
17.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Mid Wilshire
Sept. 2012
Sept. 2013
Median Price $415,000
$527,500
27
4
-43
$1,650,000
-3
6
20
32
-14
60
-54
3
-50
18.8
39
Properties Sold
7
Sales Volume $1,692,900
Properties Pending Sale
5
Properties For Sale 37
Average Days on Market
130
Month’s Supply of Inventory 6
Percent Under Contract
13.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Pacific Palisades
Sept. 2012
Sept. 2013
%Change
Median Price $2,300,000
$2,255,000
-2
27
4
Properties Sold
26
Sales Volume $77,180,875
Properties Pending Sale
19
Properties For Sale 142
Average Days on Market
50
Month’s Supply of Inventory 6
Percent Under Contract
13.4
$68,184,299
-12
14
-26
101
-29
49
-2
6
0
13.9
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
Sept. 2013
Sept. 2013
Median Price $750,000
$905,000
21
25
-40
$22,358,000
-30
29
28
-3
Properties For Sale 86
92
7
17
-53
2
0
Properties Sold
42
Sales Volume $31,964,650
Properties Pending Sale
Average Days on Market
36
Month’s Supply of Inventory 2
Percent Under Contract
33.7
30.4
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
-10
Playa Vista
Sept. 2012
Sept. 2013
%Change
Median Price $890,00
$1,192,500
34
2
100
$2,385,000
168
Properties Sold
1
Sales Volume $890,000
Properties Pending Sale
0
0
0
Properties For Sale 2
3
50
n/a
n/a
n/a
Month’s Supply of Inventory n/a
n/a
n/a
0.0
0
Average Days on Market
Percent Under Contract
0.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Santa Monica
Sept. 2012
Sept. 2013
%Change
Median Price $1,930,000
$2,187,500
13
18
-31
$40,238,710
-33
27
80
95
-6
35
-20
2
-60
28.4
91
Properties Sold
26
Sales Volume $59,717,000
Properties Pending Sale
15
Properties For Sale 101
Average Days on Market
44
Month’s Supply of Inventory 5
Percent Under Contract
14.9
*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
Sept. 2012
Sept. 2013
Median Price $626,900
$677,000
8
33
57
$18,028,500
59
36
125
110
33
33
-58
2
-50
32.7
70
Properties Sold
21
Sales Volume $11,359,900
Properties Pending Sale
16
Properties For Sale 83
Average Days on Market
78
Month’s Supply of Inventory 4
Percent Under Contract
19.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Sunset Strip - Hollywood Hills West
Sept. 2012
Sept. 2013
%Change
Median Price $1,120,000
$1,460,000
30
29
26
$54,508,660
55
38
19
271
-3
45
-49
5
-29
14.0
22
Properties Sold
23
Sales Volume $35,150,900
Properties Pending Sale
32
Properties For Sale 279
Average Days on Market
89
Month’s Supply of Inventory 7
Percent Under Contract
11.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Venice
Sept. 2012
Sept. 2013
%Change
Median Price $1,265,000
$1,402,500
11
22
22
$33,220,999
49
15
24
60
Properties For Sale 82
78
-5
71
78
2
-50
30.8
68
Properties Sold
18
Sales Volume $22,337,500
Properties Pending Sale
Average Days on Market
40
Month’s Supply of Inventory 4
Percent Under Contract
18.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Hollywood
Sept. 2012
Sept. 2013
%Change
Median Price $1,050,000
$1,187,500
13
4
-64
$5,291,000
-64
6
-50
57
21
40
-23
7
133
10.5
-59
Properties Sold
11
Sales Volume $14,845,000
Properties Pending Sale
12
Properties For Sale 47
Average Days on Market
52
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
West Los Angeles
Sept. 2012
Sept. 2013
Median Price $667,732
$756,000
13
11
175
$7,678,150
195
10
233
36
24
37
236
2
-75
27.8
169
Properties Sold
4
Sales Volume $2,600,465
Properties Pending Sale
3
Properties For Sale 29
Average Days on Market
11
Month’s Supply of Inventory 8
Percent Under Contract
10.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Westwood - Century City
Sept. 2012
Sept. 2013
%Change
Median Price $1,255,000
$1,535,000
22
15
25
$21,028,000
28
18
14
-22
Properties For Sale 56
57
2
27
-40
3
50
24.6
-24
Properties Sold
12
Sales Volume $16,391,500
Properties Pending Sale
Average Days on Market
45
Month’s Supply of Inventory 2
Percent Under Contract
32.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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RODEO REALTY MARKETING DEPARTMENT