Local Market Report July 2015
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
Palms
19
Beverlywood
6
Pacific Palisades
20
Brentwood
7
Playa Vista
21
Cheviot Hills - Rancho Park
8
Santa Monica
22
Culver City
9
Silverlake - Echo Park
23
Hancock Park
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
July 2014
Median Price $1,799,000
Properties Sold
14
Sales Volume $42,502,500
Average Sale Price
$3,035,893
Properties For Sale 109
Average Days on Market
74
Months Supply of Inventory 8
Average List Price
$5,701,967
July 2015 $1,655,000
-8%
19
36%
$44,261,500
4%
$2,329,553
-23%
86
-21%
59
-20%
5
-38%
$3,593,637
-37%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Beverly Center - Miracle Mile
July 2014
Median Price $1,320,250
Properties Sold
18
Sales Volume $28,726,551
Average Sale Price
$1,595,920
Properties For Sale 69
Average Days on Market
36
Months Supply of Inventory 4
Average List Price
$1,481,564
July 2015 $1,751,000
33%
20
11%
$37,546,515
31%
$1,877,326
18%
51
-26%
53
47%
3
-25%
$1,741,379
18%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Beverly Hills
July 2014
Median Price $5,226,000
Properties Sold
15
Sales Volume $74,024,000
Average Sale Price
$4,934,933
Properties For Sale 79
Average Days on Market
37
Months Supply of Inventory 5
Average List Price
$6,280,981
July 2015 $4,877,500
-7%
16
7%
$89,940,000
22%
$5,621,250
14%
60
-24%
66
78%
4
-20%
$5,594,111
-11%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Beverly Hills P.O.
July 2014
Median Price $2,681,500
Properties Sold
14
Sales Volume $42,247,000
Average Sale Price
$3,017,643
Properties For Sale 116
Average Days on Market
82
Months Supply of Inventory 8
Average List Price
$4,732,136
July 2015 $2,863,000
7%
14
0%
$72,366,000
71%
$5,169,000
71%
118
2%
73
-11%
8
0%
$4,084,816
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
-14%
Beverlywood
July 2014
Median Price $908,000
Properties Sold
24
Sales Volume $24,795,000
Average Sale Price
$1,033,125
Properties For Sale 67
Average Days on Market
57
Months Supply of Inventory 3
Average List Price
$1,115,481
July 2015 $1,348,000
48%
18
-25%
$26,627,500
7%
$1,479,306
43%
36
-46%
32
-44%
2
-33%
$1,383,787
24%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Brentwood
July 2014
Median Price $2,625,000
Properties Sold
22
Sales Volume $66,323,750
Average Sale Price
$3,014,716
Properties For Sale 95
Average Days on Market
72
Months Supply of Inventory 4
Average List Price
$3,827,962
July 2015 $2,348,250
-11%
22
0%
$75,015,657
13%
$3,409,803
13%
96
1%
70
-3%
4
0%
$4,763,729
24%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Cheviot Hills - Rancho Park
July 2014
Median Price $1,395,000
Properties Sold
7
Sales Volume $11,319,500
Average Sale Price
$1,617,071
Properties For Sale 21
Average Days on Market
50
Months Supply of Inventory 3
Average List Price
$1,525,083
July 2015 $1,685,000
21%
7
0%
$13,810,000
22%
$1,972,857
22%
16
-24%
55
10%
2
-33%
$1,785,500
17%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Culver City
July 2014
Median Price $910,000
Properties Sold
17
Sales Volume $15,619,697
Average Sale Price
$918,806
Properties For Sale 44
Average Days on Market
35
Months Supply of Inventory 3
Average List Price
$888,163
July 2015 $1,005,000
10%
26
53%
$29,261,946
87%
$1,125,459
22%
55
25%
39
11%
2
-33%
$1,094,920
23%
*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
July 2014
Median Price $1,247,500
Properties Sold
32
Sales Volume $59,930,640
Average Sale Price
$1,872,833
Properties For Sale 118
Average Days on Market
50
Months Supply of Inventory 4
Average List Price
$1,539,766
July 2015 $1,450,000
16%
25
-22%
$46,360,250
-23%
$1,854,410
-1%
93
-21%
57
14%
4
0%
$1,775,917
15%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Hollywood
July 2014
July 2015
%Change
Median Price $610,000
$682,500
12%
12
33%
$9,932,400
71%
$827,700
28%
33
-11%
40
-60%
3
-25%
$1,068,128
60%
Properties Sold
9
Sales Volume $5,817,436
Average Sale Price
$646,382
Properties For Sale 37
Average Days on Market
101
Months Supply of Inventory 4
Average List Price
$665,927
*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
July 2014
Median Price $1,075,000
Properties Sold
21
Sales Volume $24,998,500
Average Sale Price
$1,190,405
Properties For Sale 74
Average Days on Market
80
Months Supply of Inventory 4
Average List Price
$1,330,601
July 2015 $1,300,000
21%
15
-29%
$22,120,000
-12%
$1,474,667
24%
72
-3%
74
-8%
5
25%
$1,224,741
-8%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Los Feliz
July 2014 Median Price $1,250,000
July 2015 $1,380,000
10%
Properties Sold 25 Sales Volume $33,865,000
21
-16%
$32,977,500
-3%
$1,570,357
16%
80
-14%
44
-17%
4
0%
$1,664,024
-7%
Average Sale Price
$1,354,600
Properties For Sale 93
Average Days on Market
53
Months Supply of Inventory 4
Average List Price
$1,792,373
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Malibu
July 2014
Median Price $2,656,500
Properties Sold
20
Sales Volume $58,897,890
Average Sale Price
$2,944,895
Properties For Sale 215
Average Days on Market
162
Months Supply of Inventory 11
Average List Price
$3,032,952
July 2015 $2,525,000
-5%
13
-35%
$37,490,000
-36%
$2,883,846
-2%
172
-20%
155
-4%
13
18%
$2,941,128
-3%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Malibu Beach
July 2014
Median Price $7,010,000
Properties Sold
3
Sales Volume $20,815,000
Average Sale Price
$6,938,333
Properties For Sale 72
Average Days on Market
156
Months Supply of Inventory 24
Average List Price
$7,187,917
July 2015 $8,137,500
16%
4
33%
$27,467,500
32%
$6,866,875
-1%
61
-15%
222
42%
15
-38%
$12,765,800
78%
*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
July 2014
Median Price $0
Properties Sold
0
Sales Volume $0
Average Sale Price
$0
Properties For Sale 21
Average Days on Market
0
Months Supply of Inventory 0
Average List Price
$1,974,571
July 2015 $1,410,000
100%
3
100%
$4,010,000
100%
$1,336,667
100%
16
-24%
45
100%
5
100%
$2,073,100
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
5%
Mid Los Angeles
July 2014
July 2015
%Change
Median Price $393,000
$560,000
42%
51
70%
$30,518,178
126%
$598,396
33%
95
-28%
41
3%
2
-50%
$606,612
18%
Properties Sold
30
Sales Volume $13,482,099
Average Sale Price
$449,403
Properties For Sale 132
Average Days on Market
40
Months Supply of Inventory 4
Average List Price
$511,962
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Mid Wilshire
July 2014
July 2015
%Change
Median Price $649,000
$752,500
16%
6
-14%
Properties Sold
7
Sales Volume $4,669,500
Average Sale Price
$667,071
Properties For Sale 26
Average Days on Market
67
Months Supply of Inventory 4
Average List Price
$934,750
$4,775,000
2%
$795,833
19%
24
-8%
71
6%
4
0%
$977,690
5%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Pacific Palisades
June 2014
Median Price $2,862,467
Properties Sold
45
Sales Volume $156,818,878
Average Sale Price
$3,484,864
Properties For Sale 102
Average Days on Market
85
Months Supply of Inventory 2
Average List Price
$3,623,790
June 2015
%Change
$2,925,000
2%
27
-40%
$105,755,151
-33%
$3,916,857
12%
99
-3%
66
-22%
4
100%
$3,573,059
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-1%
Palms
July 2014
Median Price $952,000
Properties Sold
40
Sales Volume $44,356,500
Average Sale Price
$1,108,913
Properties For Sale 100
Average Days on Market
52
Months Supply of Inventory 3
Average List Price
$1,100,131
July 2015 $1,257,500
32%
46
15%
$60,915,897
37%
$1,324,259
19%
61
-39%
54
4%
1
-67%
$1,487,010
35%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Playa Vista
July 2014
Median Price $829,000
Properties Sold
1
Sales Volume $829,000
Average Sale Price
$829,000
Properties For Sale 5
Average Days on Market
5
Months Supply of Inventory 5
Average List Price
$1,002,000
July 2015 $1,465,000
77%
3
200%
$5,095,000
515%
$1,698,333
105%
5
0%
55
1000%
2
-60%
$1,297,000
29%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Santa Monica
July 2014
Median Price $1,650,000
Properties Sold
29
Sales Volume $70,334,054
Average Sale Price
$2,425,312
Properties For Sale 76
Average Days on Market
52
Months Supply of Inventory 3
Average List Price
$2,557,356
July 2015 $2,847,500
73%
38
31%
$126,062,520
79%
$3,317,435
37%
60
-21%
49
-6%
2
-33%
$2,944,200
15%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Silverlake - Echo Park
July 2014
July 2015
%Change
Median Price $813,888
$780,000
-4%
27
-7%
$22,903,780
-10%
$848,288
-3%
84
4%
47
7%
3
0%
$938,264
13%
Properties Sold
29
Sales Volume $25,418,638
Average Sale Price
$876,505
Properties For Sale 81
Average Days on Market
44
Months Supply of Inventory 3
Average List Price
$829,233
*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
July 2014
Median Price $1,760,000
Properties Sold
51
Sales Volume $104,016,225
Average Sale Price
$2,039,534
Properties For Sale 247
Average Days on Market
64
Months Supply of Inventory 5
Average List Price
$2,552,380
July 2015 $1,707,500
-3%
38
-25%
$82,485,200
-21%
$2,170,663
6%
227
-8%
58
-9%
6
20%
$3,268,349
28%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Venice
July 2014
Median Price $1,700,000
Properties Sold
25
Sales Volume $42,623,000
Average Sale Price
$1,704,920
Properties For Sale 47
Average Days on Market
42
Months Supply of Inventory 2
Average List Price
$2,224,677
July 2015 $1,890,300
11%
17
-32%
$33,785,250
-21%
$1,987,368
17%
54
15%
67
60%
3
50%
$1,946,667
-12%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
West Hollywood
July 2014
Median Price $960,000
Properties Sold
11
Sales Volume $11,178,000
Average Sale Price
$1,016,182
Properties For Sale 46
Average Days on Market
38
Months Supply of Inventory 4
Average List Price
$1,392,892
July 2015 $1,267,500
32%
10
-9%
$14,463,215
29%
$1,446,322
42%
37
-20%
44
16%
4
0%
$1,513,667
9%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
West Los Angeles
July 2014
July 2015
%Change
Median Price $820,500
$820,500
0%
9
13%
$8,816,000
22%
$979,556
8%
Properties Sold
8
Sales Volume $7,234,500
Average Sale Price
$904,313
Properties For Sale 38
Average Days on Market
26
Months Supply of Inventory 5
Average List Price
$1,148,802
23
-39%
65
150%
3
-40%
$911,531
-21%
*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
July 2014
Median Price $2,200,000
Properties Sold
23
Sales Volume $54,965,102
Average Sale Price
$2,389,787
Properties For Sale 48
Average Days on Market
47
Months Supply of Inventory 2
Average List Price
$2,230,792
July 2015 $1,500,000
-32%
16
-30%
$29,750,384
-46%
$1,859,399
-22%
49
2%
27
-43%
3
50%
$2,211,197
-1%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
RODEO REALTY MARKETING DEPARTMENT