Local Market Report July 2016
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 2015
Median Price $1,612,500
Properties Sold
22
Sales Volume $46,087,000
Average Sale Price
$2,094,864
Properties For Sale 91
Average Days on Market
65
Months Supply of Inventory 4
Average List Price
$3,193,405
July 2016 $2,229,500
38%
18
-18%
$71,621,000
55%
$3,978,944
90%
114
25%
58
-11%
6
50%
$5,335,231
67%
*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 2015
Median Price $1,113,000
Properties Sold
32
Sales Volume $46,701,015
Average Sale Price
$1,459,407
Properties For Sale 86
Average Days on Market
48
Months Supply of Inventory 3
Average List Price
$1,370,160
July 2016 $1,270,000
14%
32
0%
$44,840,800
-4%
$1,401,275
-4%
98
14%
106
121%
3
0%
$1,498,277
9%
*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
July 2015
Median Price $2,125,000
Properties Sold
30
Sales Volume $115,484,000
Average Sale Price
$3,849,467
Properties For Sale 113
Average Days on Market
71
Months Supply of Inventory 4
Average List Price
$3,728,911
July 2016 $3,298,000
55%
22
-27%
$119,750,188
4%
$5,443,190
41%
144
27%
64
-10%
7
75%
$4,892,051
31%
*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 2015
Median Price $3,247,500
Properties Sold
14
Sales Volume $72,366,000
Average Sale Price
$5,169,000
Properties For Sale 123
Average Days on Market
73
Months Supply of Inventory 9
Average List Price
$4,020,342
July 2016 $4,072,500
25%
11
-21%
$52,790,000
-27%
$4,799,091
-7%
140
14%
130
78%
13
44%
$5,434,683
35%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Beverlywood
July 2015
Median Price $2,863,000
Properties Sold
14
Sales Volume $72,366,000
Average Sale Price
$5,169,000
Properties For Sale 123
Average Days on Market
73
Months Supply of Inventory 9
Average List Price
$4,020,342
July 2016 $4,800,000
68%
11
-21%
$52,790,000
-27%
$4,799,091
-7%
140
14%
130
78%
13
44%
$5,434,683
35%
*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 2015
Median Price $1,047,500
Properties Sold
50
Sales Volume $97,327,157
Average Sale Price
$1,946,543
Properties For Sale 157
Average Days on Market
59
Months Supply of Inventory 3
Average List Price
$2,777,011
July 2016 $1,346,000
28%
36
-28%
$101,216,500
4%
$2,811,569
44%
169
8%
63
7%
5
67%
$2,443,597
-12%
*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 2015
Median Price $1,685,000
Properties Sold
7
Sales Volume $13,810,000
Average Sale Price
$1,972,857
Properties For Sale 16
Average Days on Market
55
Months Supply of Inventory 2
Average List Price
$1,805,154
July 2016 $2,645,150
57%
8
14%
$20,429,300
48%
$2,553,663
29%
30
88%
81
47%
4
100%
$1,792,133
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
-1%
Culver City
July 2015
July 2016
%Change
Median Price $804,973
$960,000
19%
37
-16%
$35,774,800
-5%
$966,886
12%
83
-19%
30
-17%
2
0%
$863,324
0%
Properties Sold
44
Sales Volume $37,854,446
Average Sale Price
$860,328
Properties For Sale 103
Average Days on Market
36
Months Supply of Inventory 2
Average List Price
$859,510
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hancock Park
July 2015
July 2016
%Change
Median Price $930,000
$934,500
0%
50
9%
$70,334,250
18%
$1,406,685
8%
168
8%
54
-14%
3
0%
$1,736,947
47%
Properties Sold
46
Sales Volume $59,648,250
Average Sale Price
$1,296,701
Properties For Sale 156
Average Days on Market
63
Months Supply of Inventory 3
Average List Price
$1,184,095
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hollywood
July 2015
July 2016
%Change
Median Price $690,000
$864,500
25%
16
-30%
$15,356,500
-27%
Properties Sold
23
Sales Volume $20,938,400
Average Sale Price
$910,365
Properties For Sale 70
Average Days on Market
55
Months Supply of Inventory 3
Average List Price
$1,005,106
$959,781 60
-14%
58
5%
4
33%
$1,051,256
5%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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5%
Hollywood Hills East
July 2015
Median Price $1,250,000
Properties Sold
17
Sales Volume $23,155,000
Average Sale Price
$1,362,059
Properties For Sale 89
Average Days on Market
75
Months Supply of Inventory 5
Average List Price
$1,074,359
July 2016
%Change
$688,000
-45%
9
-47%
$12,179,618
-47%
$1,353,291
-1%
62
-30%
75
0%
7
40%
$1,670,080
55%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Los Feliz
July 2015 Median Price $1,350,000
July 2016 $1,313,000
-3%
Properties Sold 22 Sales Volume $33,602,500
18
-18%
$23,721,500
-29%
$1,317,861
-14%
87
-9%
43
-4%
5
25%
$1,626,203
8%
Average Sale Price
$1,527,386
Properties For Sale 96
Average Days on Market
45
Months Supply of Inventory 4
Average List Price
$1,503,530
*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 2015
Median Price $2,025,000
Properties Sold
20
Sales Volume $56,705,646
Average Sale Price
$2,835,282
Properties For Sale 221
Average Days on Market
115
Months Supply of Inventory 11
Average List Price
$2,758,551
July 2016 $2,030,000
0%
17
-15%
$46,407,000
-18%
$2,729,824
-4%
197
-11%
200
74%
12
9%
$5,056,683
83%
*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 2015
Median Price $8,572,500
Properties Sold
7
Sales Volume $31,655,000
Average Sale Price
$4,522,143
Properties For Sale 79
Average Days on Market
156
Months Supply of Inventory 11
Average List Price
$10,371,750
July 2016 $6,978,000
-19%
4
-43%
$7,878,000
-75%
$1,969,500
-56%
98
24%
157
1%
25
127%
$7,856,529
-24%
*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 2015
July 2016
%Change
Median Price $892,000
$913,100
2%
39
15%
$40,743,930
22%
$1,044,716
6%
114
4%
54
-16%
3
0%
$1,243,837
1%
Properties Sold
34
Sales Volume $33,354,500
Average Sale Price
$981,015
Properties For Sale 110
Average Days on Market
64
Months Supply of Inventory 3
Average List Price
$1,227,164
*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
July 2015
July 2016
%Change
Median Price $560,000
$715,000
28%
46
-10%
Properties Sold
51
Sales Volume $30,518,178
Average Sale Price
$598,396
Properties For Sale 112
Average Days on Market
41
Months Supply of Inventory 2
Average List Price
$585,501
$32,289,556
6%
$701,947
17%
105
-6%
59
44%
2
0%
$657,304
12%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Mid Wilshire
July 2015
July 2016
%Change
Median Price $529,000
$599,000
13%
16
-41%
$10,075,500
-35%
$629,719
10%
75
-12%
50
-30%
5
67%
$602,875
2%
Properties Sold
27
Sales Volume $15,506,600
Average Sale Price
$574,319
Properties For Sale 85
Average Days on Market
71
Months Supply of Inventory 3
Average List Price
$593,538
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Pacific Palisades
July 2015
Median Price $2,475,000
Properties Sold
35
Sales Volume $114,629,051
Average Sale Price
$3,275,116
Properties For Sale 121
Average Days on Market
61
Months Supply of Inventory 3
Average List Price
$2,945,111
July 2016 $1,950,000
-21%
31
-11%
$75,062,770
-35%
$2,421,380
-26%
160
32%
64
5%
5
67%
$3,297,318
12%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Palms
July 2015
Median Price $1,043,500
Properties Sold
62
Sales Volume $70,309,497
Average Sale Price
$1,134,024
Properties For Sale 83
Average Days on Market
70
Months Supply of Inventory 1
Average List Price
$1,218,284
July 2016 $1,050,000
1%
45
-27%
$59,891,550
-15%
$1,330,923
17%
87
5%
49
-30%
2
100%
$1,320,591
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
8%
Playa Vista
July 2015
July 2016
%Change
Median Price $890,250
$819,500
-8%
10
-17%
$10,544,500
-14%
$1,054,450
3%
33
74%
48
17%
3
50%
$1,108,800
22%
Properties Sold
12
Sales Volume $12,331,000
Average Sale Price
$1,027,583
Properties For Sale 19
Average Days on Market
41
Months Supply of Inventory 2
Average List Price
$907,075
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Santa Monica
July 2015
Median Price $1,375,000
Properties Sold
81
Sales Volume $173,070,745
Average Sale Price
$2,136,676
Properties For Sale 190
Average Days on Market
53
Months Supply of Inventory 2
Average List Price
$1,738,342
July 2016 $1,253,750
-9%
60
-26%
$98,903,416
-43%
$1,648,390
-23%
173
-9%
45
-15%
3
50%
$1,794,679
3%
*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 2015
July 2016
%Change
Median Price $770,000
$707,032
-8%
48
41%
$39,566,250
42%
$824,297
1%
101
2%
54
15%
2
-33%
$1,017,771
14%
Properties Sold
34
Sales Volume $27,870,680
Average Sale Price
$819,726
Properties For Sale 99
Average Days on Market
47
Months Supply of Inventory 3
Average List Price
$888,973
*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 2015
July 2016
%Change
Median Price $770,000
$707,032
-8%
48
41%
$39,566,250
42%
$824,297
1%
101
2%
54
15%
2
-33%
$1,017,771
14%
Properties Sold
34
Sales Volume $27,870,680
Average Sale Price
$819,726
Properties For Sale 99
Average Days on Market
47
Months Supply of Inventory 3
Average List Price
$888,973
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Venice
July 2015
Median Price $1,870,150
Properties Sold
18
Sales Volume $35,002,250
Average Sale Price
$1,944,569
Properties For Sale 80
Average Days on Market
64
Months Supply of Inventory 4
Average List Price
$1,944,569
July 2016 $1,650,000
-12%
27
50%
$48,725,000
39%
$1,804,630
-7%
89
11%
67
5%
3
-25%
$1,804,630
-7%
*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 2015
July 2016
%Change
Median Price $759,000
$852,550
12%
40
-7%
$41,476,300
8%
$1,036,908
16%
173
24%
52
-9%
4
33%
$1,207,604
29%
Properties Sold
43
Sales Volume $38,578,865
Average Sale Price
$897,183
Properties For Sale 140
Average Days on Market
57
Months Supply of Inventory 3
Average List Price
$934,765
*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
July 2015
July 2016
%Change
Median Price $795,000
$840,000
6%
30
30%
$26,316,500
38%
$877,217
6%
65
14%
51
-4%
2
0%
$872,893
7%
Properties Sold
23
Sales Volume $19,073,800
Average Sale Price
$829,296
Properties For Sale 57
Average Days on Market
53
Months Supply of Inventory 2
Average List Price
$818,886
*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 2015
July 2016
%Change
Median Price $777,500
$818,000
5%
Properties Sold
74
Sales Volume $88,932,099
Average Sale Price
$1,201,785
Properties For Sale 292
Average Days on Market
51
Months Supply of Inventory 4
Average List Price
$1,900,296
61
-18%
$68,362,780
-23%
$1,120,701
-7%
239
-18%
64
25%
4
0%
$1,608,412
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-15%
RODEO REALTY MARKETING DEPARTMENT