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 4.6% year over year to 859 homes sold when compared in the third quarter of 2017. The overall median selling price reached a high of $2.1M, a 14% increase compared to the same time last year. Additionally, the average days on market for single-family homes declined to 94 days in the third quarter of 2017 compared to 96 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
Q3 | Greater Los Angeles
Sold Volume - all areas by price Below $1M
$5M and Above
Units vs MSP vs ASP $3,500,000
880
$3,000,000
860
$2,500,000
840
$2,000,000
820
$1,500,000
800
$1,000,000
780
$500,000
760
$1M - $5M
740
$Below $1M
$1M - $5M
$5M and Above
2014 2015 2016 2017 units
Sales Volume by Price Category 3% 62 % 35 %
Median
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
ASP
Comparison by Neighborhood Q3 | Greater Los Angeles
Median - current quarter only
$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
$
Santa Monica Downtown Los Angeles Los Feliz Silver Lake | Echo Park
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
/
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
-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
Q3 {2017 vs. 2016}
Change
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
/
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
/
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
-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
Q3 {2017 vs. 2016}
Change
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
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.
Median Discount Selling Price Ratio
Closed Units
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
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
Median Discount Selling Price Ratio
Closed Units
Active Inventory
Average Days on Market
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
Q3 {2017 vs. 2016}
Change
41
/ Silver Lake | Echo Park / Los Angeles Q3 Market Update
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