Greater Los Angeles Q3 Market Update

Q3 | 2017

Greater Los Angeles

Market Update

BEVERLY HILLS

sothebyshomes.com/0027789 Offered at $12,750,000

SUNSET STRIP

sothebyshomes.com/0027823 Offered at $9,500,000

Greater Los Angles 06 08 10 12

Hancock Park | Wilshire

18

28 30 32 38 40

Pacific Palisades Sunset Strip | Hollywood Hills West Hollywood

24 26

Beverly Hills

Brentwood

16

22

Bel-Air | Holmby Hills

Beverly Hills Post Office

14

20

Market Snapshot

Malibu Venice

Santa Monica Downtown Los Angeles

East Los Angeles | At a Glance Los Feliz Silver Lake | Echo Park

BEVERLY HILLS

1218 Benedict Canyon Drive Sold for $11,995,000

a message from

Frank Symons

EVP/COO, Western Region I take great pleasure in presenting the Greater Los Angeles Market Update for the third quarter of 2017.

According to the local MLS, robust results for single-family homes in Los Angeles were fueled by an increase in the number of homes sold as well as a rise in median selling price. The number of single-family homes sold rose 9.1% year over year to 1,163 homes sold when compared in the third quarter of 2017. The overall median selling price reached a high of $1.6M, an 8% increase compared to the same time last year. Additionally, the average days on market for single-family homes declined to 88 days in the third quarter of 2017 compared to 90 days in the third quarter of 2016.

I hope that you enjoy exploring our quarterly market update and I invite you to discover more information online at sothebyshomes.com. If Sotheby’s International Realty can be of service to you in the sale or purchase of property in California or anywhere else, please call me at (310) 786-1801 so that I may personally introduce you to a local expert.

GREATER LOS ANGELES BROKERAGES

Beverly Hills | Brentwood | Los Feliz | Malibu | Pacific Palisades | Santa Monica | Sunset Strip

sothebyshomes.com/socal All data within this document is pulled from the Los Angeles MLS. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.

Market Snapshot

| Greater Los Angeles Sold Volume Q3 - all areas by price

$2,500,000

Below $1M

1180

Units vs MSP vs ASP

1160 $2,000,000

1140 1120

$1,500,000

$5M and Above

1100 1080

$1,000,000

1060

$1M - $5M

1040

$500,000

1020 $-

1000

2014

2015

units

Below $1M

$1M - $5M

2017

Median

$5M and Above

Sales Volume by Price Category 8% 60 % 31 %

ASP

2016

Median Selling Price vs. Average Selling Price vs. Total Units Sold

Under $1 Million

Average Selling Price

$1 Million to $5 Million

Median Sale Price

Over $5 Million

Total Units Sold

Los Angeles Q3 Market Update / Q3 Highlights / 6

Comparison

by Neighborhood Q3 | Greater Los Angeles

$5,000,000 $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000

Median Selling Price 2.4m $ 4.6m $ 2.9m $ 2.9m $ 1.7m $

Bel-Air | Holmby Hills Beverly Hills Beverly Hills Post Office Brentwood Hancock Park / Wilshire

3.2m $ 1.7m $ 1.9m $ 2.7m $ 2.1m $

Pacific Palisades Sunset Strip | Hollywood Hills West Hollywood Malibu Venice

2.8m $0.4m $ 1.8m $ 1.0m $ 0.8m $

Santa Monica Downtown Los Angeles Los Feliz Silver Lake | Echo Park East Side

East Side

Silver Lake - Echo Park

Los Feliz

Downtown L.A.

Santa Monica

Venice

Malibu

West Hollywood Vicinity

Sunset Strip - Hollywood Hills West

Pacific Palisades

Hancock Park - Wilshire

Brentwood

Beverly Hills Post Office

Beverly Hills

Bel Air - Holmby Hills

$-

at a glance {Q3 | 2017}

bel-air | holmby hills

3.7

%

Change in Median Selling Price {2017 v 2016}

116 Average Days on Market

46 Units Sold

2.4m

$

Median Selling Price

Average Selling Price | Total Units Sold ASP vs Closed Units $4,500,000

50

$4,000,000

45

$3,500,000

40 35

$3,000,000

30

$2,500,000

25

$2,000,000

20

$1,500,000

15

$1,000,000

10

$500,000

5 0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Bel-Air & Holmby Hills Bel-Air’s stately gates off Sunset Boulevard lead down winding streets lined with lavish homes with lush vegetation. Popular with celebrities and entertainment industry elite, the neighborhood is home to the landmark Hotel Bel-Air, and offers a rare kind of seclusion in a non-stop city. sothebyshomes.com/belair

{2017 vs. 2016}

Change Q3

3.7%

-

17.9%

9.7%

15.2%

2017

$2,360,000

-1.5%

46

113

116

2016

$2,275,000

-5.0%

39

103

101

2015

$2,015,000

-6.3%

43

86

86

2014

$2,021,500

1.6%

32

94

105

/

9 Bel Air | Holmby Hills

/ Los Angeles Q3 Market Update

Average Selling Price | Total Units Sold ASP vs Closed Units $8,000,000

40

$7,000,000

35

$6,000,000

30

$5,000,000

25

$4,000,000

20

$3,000,000

15

$2,000,000

10

$1,000,000

5 0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Beverly Hills Whether you are an art aficionado or feel the lure of the unparalleled shopping of Rodeo Drive, Beverly Hills is known worldwide as a premier destination for luxury. sothebyshomes.com/beverlyhills

{2017 vs. 2016}

Change Q3

-10.7%

-

17.2%

-2.3%

-3.5%

2017

$4,612,500

-3.4%

34

85

96

2016

$5,162,780

3.4%

29

87

99

2015

$5,015,000

0.9%

38

69

117

2014

$3,312,500

-2.9%

36

63

93

Los Angeles Q3 Market Update / Beverly Hills / 10

at a glance {Q3 | 2017}

beverly hills

-10.7

%

Change in Median Selling Price {2017 v 2016}

96 Average Days on Market

34 Units Sold

4.6m

$

Median Selling Price

at a glance {Q3 | 2017}

beverly hills post office

17

%

Change in Median Selling Price {2017 v 2016}

112 Average Days on Market

46 Units Sold

2.9m

$

Median Selling Price

Average Selling Price | Total Units Sold ASP vs Closed Units $4,300,000

50

$4,200,000

45

$4,100,000

40

$4,000,000

35

$3,900,000

30

$3,800,000

25

$3,700,000

20

$3,600,000

15

$3,500,000 $3,400,000

10

$3,300,000

5

$3,200,000

0

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

BeverlyHills Post Office Beverly Hills Post Office is home to grand estates, mansions, as well as some of the most celebrated gated communities. The hillside location offers incredible views of the Los Angeles basin, Pacific Ocean, and Catalina Island. sothebyshomes.com/bhpo

{2017 vs. 2016}

Change Q3

17.0%

-

12.2%

-19.4%

5.2%

2017

$2,925,000

-7.0%

46

108

112

2016

$2,500,000

0.0%

41

134

106

2015

$2,525,000

1.0%

43

110

112

2014

$2,695,000

-3.2%

35

100

100

/

13 Beverly Hills Post Office

/ Los Angeles Q3 Market Update

Average Selling Price | Total Units Sold ASP vs Closed Units $4,000,000

80

$3,900,000

70

$3,800,000

60

$3,700,000 $3,600,000

50

$3,500,000

40

$3,400,000

30

$3,300,000

20

$3,200,000 $3,100,000

10

$3,000,000

0

2014

2015

2016

2017

Total Units Sold

Average Selling Price

About

Brentwood Brentwood is known for its palatial estates and laid-back California elegance. It’s the perfect enclave for dining at Katsu-ya or biking down San Vicente to the ocean. Perched on a hill above this chic neighborhood, take in the architecture and art on display at the Getty Center. sothebyshomes.com/brentwood

{2017 vs. 2016}

Change Q3

14.8%

-

1.5%

1.1%

0.0%

2017

$2,870,000

-3.5%

69

95

99

2016

$2,500,000

0.0%

68

94

99

2015

$2,775,000

-2.6%

54

95

99

2014

$2,400,000

-3.8%

62

69

101

Los Angeles Q3 Market Update / Brentwood / 14

at a glance {Q3 | 2017}

brentwood

14.8

%

Change in Median Selling Price {2017 v 2016}

99 Average Days on Market

69 Units Sold

2.9m

$

Median Selling Price

at a glance {Q3 | 2017}

hancock park/wilshire

21.9

%

Change in Median Selling Price {2017 v 2016}

92 Average Days on Market

77 Units Sold

1.7m

$

Median Selling Price

Average Selling Price | Total Units Sold ASP vs Closed Units 90

$2,500,000

80 $2,000,000

70 60

$1,500,000

50 40

$1,000,000

30 20

$500,000

10 $-

0

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Hancock Park/Wilshire Centrally located and surrounded by the Wilshire Country Club, Hancock Park boasts some of the best classical Los Angeles architecture, making it one of the most desirable areas in all of Southern California sothebyshomes.com/hancockpark

{2017 vs. 2016}

Change Q3

21.9%

-

1.3%

-45.2%

12.0%

2017

$1,663,937

-2.1%

77

51

92

2016

$1,365,000

-2.0%

76

93

82

2015

$1,505,000

0.7%

59

79

75

2014

$1,250,000

4.2%

79

86

93

/

17 Hancock Park | Wilshire

/ Los Angeles Q3 Market Update

Average Selling Price | Total Units Sold ASP vs Closed Units $4,200,000

100 90

$4,000,000

80

$3,800,000

70 60

$3,600,000

50 $3,400,000

40 30

$3,200,000

20

$3,000,000

10 0

$2,800,000

2014

2015

2016

Average Selling Price

2017 Total Units Sold

About

Pacific Palisades More a retreat than an urban neighborhood, the Palisades sits against a stunning backdrop with views of the Santa Monica mountains, the Pacific Coast, and several canyons that run between them. The Palisades are a green oasis within Los Angeles. sothebyshomes.com/pacificpalisades

{2017 vs. 2016}

Change Q3

16.4%

-

1.4%

-29.6%

9.1%

2017

$3,212,500

-1.5%

74

69

88

2016

$2,759,535

-4.2%

73

98

81

2015

$2,923,000

-2.4%

72

89

79

2014

$2,587,500

-0.4%

94

72

98

Los Angeles Q3 Market Update / Pacific Palisades / 18

at a glance {Q3 | 2017}

pacific palisades

16.4

%

Change in Median Selling Price {2017 v 2016}

88 Average Days on Market

74 Units Sold

3.2m

$

Median Selling Price

at a glance {Q3 | 2017}

sunset strip/hollywood hills

-4.5

%

Change in Median Selling Price {2017 v 2016}

90 Average Days on Market

117 Units Sold

1.7m

$

Median Selling P rice

Average Selling Price | Total Units Sold ASP vs Closed Units 120

$2,450,000 $2,400,000

118

$2,350,000 $2,300,000

116

$2,250,000 $2,200,000

114

$2,150,000

112

$2,100,000 110

$2,050,000 $2,000,000

108

$1,950,000

106

$1,900,000

2014

2015

2016

2017 Total Units Sold

Average Selling Price About

Sunset Strip/Hollywood Hills Hollywood’s fame is rooted in its cultural identity, peerless entertainment industry, and historical significance as the origin of American cinema. Get a perfect martini at Musso & Frank’s, which has been serving drinks since 1919 to the likes of Charlie Chaplin and William Faulkner, and then stroll down to the Roosevelt Hotel for a nightcap. sothebyshomes.com/sunsetstrip

{2017 vs. 2016}

Change Q3

-4.5%

-

5.4%

1.3%

-6.8%

2017

$1,718,000

-4.3%

117

232

90

2016

$1,799,000

-2.7%

111

229

97

2015

$1,580,000

-4.5%

115

209

81

2014

$1,842,500

-5.4%

118

191

103

21

/ Sunset Strip | Hollywood Hills / Los Angeles Q3 Market Update

Average Selling Price | Total Units Sold ASP vs Closed Units

40

$3,000,000

35

$2,500,000

30 $2,000,000

25 20

$1,500,000

15

$1,000,000

10 $500,000

5 0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

West Hollywood West Hollywood is a thriving, diverse community on the leading edge of culture, entertainment, and design. “WeHo” is home to the Pacific Design Center and ground zero for Los Angeles’s thriving Interior Design and Architectural community. sothebyshomes.com/westhollywood

{2017 vs. 2016}

Change Q3

27.8%

-

8.6%

-35.4%

-3.4%

2017

$1,930,000

0.3%

38

31

75

2016

$1,510,000

0.7%

35

48

77

2015

$1,330,000

4.1%

30

32

71

2014

$1,190,000

2.3%

31

28

63

Los Angeles Q3 Market Update / West Hollywood / 22

at a glance {Q3 | 2017}

west hollywood

27.8

%

Change in Median Selling Price {2017 v 2016}

75 Average Days on Market

38 Units Sold

1.9m

$

Median Selling Price

at a glance {Q3 | 2017}

malibu

12.5

%

Change in Median Selling Price {2017 v 2016}

179 Average Days on Market

55 Units Sold

2.7m

$

Median Selling Price

Average Selling Price | Total Units Sold ASP vs Closed Units 60

$4,000,000 $3,500,000

50

$3,000,000 40

$2,500,000

30

$2,000,000 $1,500,000

20

$1,000,000 10

$500,000

0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price About

Malibu With nearly 27 miles of gorgeous coastline covered in pristine beaches, Malibu is one of the most storied oceanfront communities on the West Coast. The area offers long strands of private beaches, world-class surfing at Zuma and El Matador, and front-row seats to unforgettable sunsets. Malibu is both classic California and understated/rustic elegance. sothebyshomes.com/malibu

{2017 vs. 2016}

Change Q3

12.5%

-

10.0%

-8.6%

-12.2%

2017

$2,700,000

-16.9%

55

148

179

2016

$2,400,000

-5.7%

50

162

204

2015

$2,482,083

-6.2%

38

170

109

2014

$2,350,000

-2.0%

49

169

168

25

/ Malibu / Los Angeles Q3 Market Update

Average Selling Price | Total Units Sold ASP vs Closed Units $3,000,000

70

$2,500,000

60 50

$2,000,000

40 $1,500,000 30 $1,000,000

20

$500,000

10 0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price About

Venice Welcome to the heart of Silicon Beach. Admire the street art and commissioned murals in old Venice, alongside a new community of creative entrepreneurs, startups, and venture capitalists.

Stroll through Abbot Kinney, the “coolest block in America.� Explore the historic Venice Canals, a tranquil and hidden gem, and finish the evening with dinner at Gjelina. sothebyshomes.com/venice

{2017 vs. 2016}

Change Q3

12.6%

-

-6.7%

-16.7%

-29.5%

2017

$2,115,000

6.1%

56

60

64

2016

$1,877,908

-0.2%

60

72

91

2015

$1,725,000

-0.6%

45

52

90

2014

$1,661,661

-0.8%

47

36

84

Los Angeles Q3 Market Update / Venice / 26

at a glance {Q3 | 2017}

venice

12.6

%

Change in Median Selling Price {2017 v 2016}

64 Average Days on Market

56 Units Sold

2.1m

$

Median Selling Price

at a glance {Q3 | 2017}

santa monica

12.8

%

Change in Median Selling Price {2017 v 2016}

75 Average Days on Market

60 Units Sold

2.8m

$

Median Selling Price

Average Selling Price | Total Units Sold ASP vs Closed Units $3,500,000

80

$3,000,000

70 60

$2,500,000

50

$2,000,000

40 $1,500,000

30

$1,000,000

20

$500,000

10 0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Santa Monica L.A.’s premier beach destination, Santa Monica blends urban energy, beach town atmosphere, and world-class oceanfront hotels like Shutters and Casa Del Mar, whose back yard is the glorious Pacific Ocean. sothebyshomes.com/santamonica

{2017 vs. 2016}

Change Q3

12.8%

-

0.0%

0.0%

-0.4%

2017

$2,766,500

3.5%

60

50

75

2016

$2,452,825

-2.8%

60

50

75

2015

$1,950,000

-2.5%

65

66

62

2014

$1,875,000

5.6%

75

45

81

29

/ Santa Monica / Los Angeles Q3 Market Update

Average Selling Price | Total Units Sold ASP vs Closed Units $600,000

35

$500,000

30 25

$400,000

20 $300,000 15 $200,000

10

$100,000

5 0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Downtown Los Angeles Downtown L.A. offers urban living at its finest, and is the heart of L.A.’s art boom which has put the city on the world stage of contemporary art. Gleaming new landmark lofts, a central business district, and popular revolving art attract thousands of new residents to every year. sothebyshomes.com/dtla

{2017 vs. 2016}

Change Q3

12.9%

-

13.6%

16.7%

8.3%

2017

$350,000

0.0%

25

28

129

2016

$310,000

-1.6%

22

24

119

2015

$289,250

-1.5%

32

32

127

2014

$262,000

1.2%

23

29

105

Los Angeles Q3 Market Update / Downtown Los Angeles / 30

at a glance {Q3 | 2017}

downtown los angeles

12.9

%

Change in Median Selling Price {2017 v 2016}

129 Average Days on Market

25 Units Sold

0.4m

$

Median Selling Price

at a glance {Q3 | 2017}

east los angeles ATWATER VILLAGE CYPRESS PARK EAGLE ROCK GLASSELL PARK HIGHLAND PARK HOLLYWOOD HILLS EAST LINCOLN HEIGHTS MT WASHINGTON

10

%

Change in Median Selling Price {2017 v 2016}

69 Average Days on Market

304 Units Sold

0.8m

$

Median Selling Price

ASP vs Closed Units

Average Selling Price | Total Units Sold 350

$1,000,000 $900,000

300

$800,000

250

$700,000 $600,000

200

$500,000 $400,000

150

$300,000

100

$200,000 50

$100,000

0

$-

2014

2015

2016

Average Selling Price

2017 Total Units Sold

About

East Los Angeles Home to some of L.A.’s most animated restaurants and alluring shops, East Los Angeles boasts an abundance of beautiful homes a stone’s throw from Downtown Los Angeles that are increasing in value by the day.

{2017 vs. 2016}

Change Q3

10%

-

24%

-2%

2017

$800,000

-3%

304

69

2016

$727,000

-2%

245

71

2015

$680,250

-2%

308

72

2014

$611,500

-2%

303

73

33

/ East Los Angeles / Los Angeles Q3 Market Update

Neighborhood Highlights

Atwater Village Eagle Rock

Atwater Village

Median Sales Price | Single Family over Five Years Neighborhood Highlights $840,000

+3

$820,000

%

$800,000

Discount Ratio

$780,000

73

$760,000 $740,000

Average DOM

$720,000

19

$700,000 $680,000

Units

$660,000

2014

2015

2016

2017

Eagle Rock

Median Sales Price | Single Family over Five Years

Neighborhood Highlights

$1,000,000

+0

%

$900,000 $800,000

Discount Ratio

$700,000

73

$600,000 $500,000

Average DOM

$400,000

59

$300,000 $200,000

Units

$100,000 $-

2014 Los Angeles Q3 Market Update / East Los Angeles / 34

2015

2016

2017

Neighborhood Highlights Cypress Park Glassell Park

Cypress Park

Median Sales Price | Single Family over Five Years Neighborhood Highlights $700,000

+5

$600,000 $500,000

%

Discount Ratio

$400,000

111

$300,000

Average DOM

$200,000

14

$100,000

Units

$-

2014

2015

2016

2017

Glassell Park

Median Sales Price | Single Family over Five Years

Neighborhood Highlights

$800,000

+3

$700,000 $600,000

%

Discount Ratio

$500,000

59

$400,000 $300,000

Average DOM

29

$200,000 $100,000

Units

$-

2014

2015

2016

2017

Neighborhood Highlights

Highland Park Lincoln Heights

Highland Park

Median Sales Price | Single Family over Five Years

Neighborhood Highlights

$800,000

+1

%

$700,000 $600,000

Discount Ratio

$500,000 $400,000

60

$300,000

Average DOM

95

$200,000 $100,000

Units

$-

2014

2015

2016

2017

Lincoln Heights

Median Sales Price | Single Family over Five Years

Neighborhood Highlights

$500,000

-8

%

$450,000 $400,000

Discount Ratio

$350,000

68

$300,000 $250,000

Average DOM

$200,000

7

$150,000 $100,000

Units

$50,000 $-

2014

2015

2016

2017

Neighborhood Highlights

Hollywood Hills East Mt. Washington

Hollywood Hills East

Median Sales Price | Single Family over Five Years

Neighborhood Highlights

$1,800,000 $1,600,000

-3

$1,400,000 $1,200,000

%

Discount Ratio

$1,000,000

87

$800,000 $600,000

Average DOM

44

$400,000 $200,000

Units

$-

2014

2015

2016

2017

Mt. Washington

Median Sales Price | Single Family over Five Years

Neighborhood Highlights

$900,000

+6

$800,000 $700,000

%

$600,000

Discount Ratio

$500,000

56

$400,000

Average DOM

$300,000

37

$200,000 $100,000

Units

$-

2014

2015

2016

2017 39

/ East Los Angeles / Los Angeles Q3 Market Update

Average Selling Price | Total Units Sold ASP vs Closed Units 80

$2,500,000

70 $2,000,000

60 50

$1,500,000

40 $1,000,000

30 20

$500,000

10 0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Los Feliz Los Feliz is a creative neighborhood with an independent vibe all its own. This historic neighborhood is steeped in architectural history, boasting homes designed by Richard Neutra, John Lautner, and Frank Lloyd Wright. sothebyshomes.com/losfeliz

{2017 vs. 2016}

Change Q3

20.4%

-

1.9%

-5.3%

5.3%

2017

$1,787,500

-0.4%

54

54

74

2016

$1,485,000

-0.7%

53

57

70

2015

$1,391,500

1.1%

68

61

73

2014

$1,140,000

-0.8%

69

55

72

Los Angeles Q3 Market Update / Los Feliz / 38

at a glance {Q3 | 2017}

los feliz

20.4

%

Change in Median Selling Price {2017 v 2016}

74 Average Days on Market

54 Units Sold

1.8m

$

Median Selling Price

Page 26

/ Los Angeles Q3 Market Update

at a glance {Q3 | 2017}

silver lake/echo park

19.3

%

Change in Median Selling Price {2017 v 2016}

75 Average Days on Market

108 Units Sold

1.0m

$

Median Selling Price

Average Selling Price | Total Units Sold ASP vs Closed Units $1,200,000

120

$1,000,000

100

$800,000

80

$600,000

60

$400,000

40

$200,000

20 0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Silver Lake/Echo Park Rock ‘n’ roll attitudes contrast the refined and modern homes of Silver Lake. This hilly neighborhood is one of L.A.’s most walkable areas and is home of its namesake reservoir and cutting-edge music scene. sothebyshomes.com/silverlake

{2017 vs. 2016}

Change Q3

19.3%

-

3.8%

-11.9%

-8.6%

2017

$1,037,500

8.3%

108

59

75

2016

$870,000

0.9%

104

67

82

2015

$786,500

6.0%

86

82

89

2014

$792,500

5.8%

71

55

68

41

/ Silver Lake | Echo Park / Los Angeles Q3 Market Update

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