Q1 2019 | Greater Los Angeles Market Update

Page 1

Q1 | 2019

Greater Los Angeles

Market Update

BRENTWOOD

TheBarringtonResidence.com Offered at $21,500,000


MID-WILSHIRE

112NHarvard.com Offered at $1,495,000


Greater Los Angles 06 08

Bel-Air | Holmby Hills

10

Beverly Hills

12

Beverly Hills Post Office

14 16

22 24 26 28 30 32 34 36

Brentwood Downtown Los Angeles

18 20

Market Snapshot

Hancock Park | Wilshire Los Feliz Malibu

Pacific Palisades Santa Monica

Silver Lake | Echo Park Sunset Strip | Hollywood Hills

The Valley (San Fernando) Venice West Hollywood


BEL-AIR

931LindaFloraDr.com Offered at $15,995,000


VER 1. UPDATE DATA a message from

Michael Williamson

Regional Senior Vice President, Greater Los Angeles It is a pleasure to present the Greater Los Angeles Market Update for the first quarter of 2019. The Greater Los Angeles real estate market started the year with reduced sales, rising inventory and stable prices. According to the CLAW MLS, when comparing the first quarter of 2019 to the same time last year, average days on market for Greater LA decreased to 74 days, compared to 79 days the year prior, while both Malibu and Venice had an increase in average sale price by 8.9% and 12.8%, respectively. Since our flagship brokerage opened in Beverly Hills in 1995, Sotheby’s International Realty has had a white-gloved finger on the pulse of the real estate market. In the pages that follow is a thorough review of the Greater Los Angeles market with an in-depth analysis of each of the neighborhoods we serve. 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 - Venice | 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. Sotheby’s International Realty DRE License Number: 899496.


Market Snapshot

Q1 2019 | Greater Los Angeles

MARKET SHARE BY VOL. Closed Units vs ASP vs MSP

Greater than $5M

Less than $1M

$1M - $5M

$1,200,000

9,500

$1,000,000

9,000

$800,000

8,500

$600,000

8,000

$400,000

7,500

$200,000

7,000

$0

6,500

Q1 2015 Q1 2016 Q1 2017 Q1 2018 Q1 2019

Less than $1M

$1M - $5M

Greater than $5M

Sales Volume by Price Category 46 % 43% 11%

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 Q1 Market Update / Q1 Highlights / 6


1.5m $ 4.9m $ 3.1m $ 2.2m $ 0.6m

$

Bel-Air | Holmby Hills

Beverly Hills

Beverly Hills Post Office

Brentwood

Downtown Los Angeles

1m $ 1.7m $ 2.5m $ 2.6m $ 1.4m

$

Santa Monica

Los Feliz

Malibu

Pacific Palisades

Hancock Park / Wilshire

$

0.9m $ 1.9m $ 2.1m $ 1m

Venice

West Hollywood

Silver Lake | Echo Park

Sunset Strip | Hollywood Hills Westwood - Century City

West Hollywood Vicinity

West Hills

Venice

Valley Village

University City

Topanga

Toluca Lake

Sunset Strip - Hollywood Hills West

Median Selling Price Studio City

Silver Lake - Echo Park

Sherman Oaks

Santa Monica

Palms - Mar Vista

Palisades

Pacific Palisades

North Hollywood

Marina Del Rey

Manhattan Beach

Malibu Beach

Malibu

Los Feliz

Los Angeles

Long Beach

Hollywood Hills East

Hollywood

Hancock Park-Wilshire

Glendale

Encino

Downtown L.A.

Culver City

Burbank

Brentwood

Beverlywood Vicinity

Beverly Hills Post Office

Beverly Hills

Beverly Center-Miracle Mile

Bel Air - Holmby Hills

Comparison by Neighborhood Q1 | Greater Los Angeles

$6,000,000

GREATER LA MEDIAN PRICE

$5,000,000

$4,000,000

$3,000,000

$2,000,000

$1,000,000

$0


at a glance {Q1 | 2019}

bel-air | holmby hills

-33.6

%

Change in Median Selling Price {2019 vs 2018}

66 Average Days on Market

25 Units Sold

3.8m

$

Median Selling Price


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 50

$6,000,000

45 $5,000,000

40 35

$4,000,000

30 25

$3,000,000

20 $2,000,000

15 10

$1,000,000

5 -

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Total Units Sold

Q1 2019 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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

-33.6%

-

-13.8%

-28.9%

2019

$1,530,000

-6.8%

25

66

2018

$2,305,000

-7.4%

29

93

2017

$2,158,500

-7.3%

32

63

2016

$2,158,500

-6.1%

24

84

2015

$2,160,500

-8.1%

45

100

/

9 Bel Air | Holmby Hills

/ Los Angeles Q1 Market Update


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 80

$6,000,000

70

$5,000,000

60 $4,000,000

50 40

$3,000,000

30

$2,000,000

20 $1,000,000

10 -

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Total Units Sold

Q1 2019 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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

-69.2%

-

-24.0%

-6.4%

2019

$4,900,000

-6.9%

38

58

2018

$2,896,250

-3.9%

50

62

2017

$2,982,500

-6.0%

60

73

2016

$2,250,000

-3.5%

69

57

2015

$2,085,000

-3.5%

63

100

Los Angeles Q1 Market Update / Beverly Hills / 10


at a glance {Q1 | 2019}

beverly hills

69.2

%

Change in Median Selling Price {2019 vs 2018}

58 Average Days on Market

38 Units Sold

4.9m

$

Median Selling Price


at a glance {Q1 | 2019}

beverly hills post office

-32.0

%

Change in Median Selling Price {2019 vs 2018}

89 Average Days on Market

17 Units Sold

3.1m

$

Median Selling Price


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 40

$5,000,000 $4,500,000

35

$4,000,000

30

$3,500,000

25

$3,000,000

20

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

15

$1,500,000

10

$1,000,000

5

$500,000

-

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Q1 2019

Total Units Sold

Average Selling Price

About

Beverly Hills 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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

-32.0%

-

-50.0%

15.6%

2019

$3,136,820

-10.4%

17

89

2018

$2,376,000

-5.3%

34

77

2017

$2,810,000

-5.3%

19

77

2016

$2,445,000

-8.0%

25

63

2015

$1,734,000

-10.4%

28

83

/

13 Beverly Hills Post Office

/ Los Angeles Q1 Market Update


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 120

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

100

$3,000,000 80

$2,500,000

60

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

40

$1,000,000 20

$500,000

-

$0

Q1 2015

Q1 2016

Q1 2017

Median Sales Price

Q1 2018

Q1 2019

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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

-6.9%

-

14.5%

-2.6%

2019

$2,240,000

-5.0%

71

53

2018

$2,405,170

2.6%

83

54

2017

$1,960,000

2.4%

77

44

2016

$1,430,000

-1.7%

101

59

2015

$1,115,000

1.4%

73

56

Los Angeles Q1 Market Update / Brentwood / 14


at a glance {Q1 | 2019}

brentwood

-6.9

%

Change in Median Selling Price {2019 vs 2018}

53 Average Days on Market

71 Units Sold

2.2m

$

Median Selling Price


at a glance {Q1 | 2019}

downtown los angeles

-0.8

%

Change in Median Selling Price {2019 vs 2018}

62 Average Days on Market

75 Units Sold

605k

$

Median Selling Price


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 120

$900,000 $800,000

100

$700,000

80

$600,000 $500,000

60

$400,000

40

$300,000 $200,000

20

$100,000

-

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2019

Q1 2018

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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

-0.8%

-

-25.7%

-2.4%

2019

$605,000

-3.8%

75

62

2018

$610,000

-2.4%

101

63

2017

$599,000

-3.1%

99

62

2016

$537,500

-1.2%

70

75

2015

$526,262

-2.0%

111

58

/

17 Downtown Los Angeles

/ Los Angeles Q1 Market Update


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 120

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

100

$1,400,000

80

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

60

$800,000

40

$600,000 $400,000

20

$200,000

-

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Q1 2019

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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

10.8%

-

-1.3%

0.2%

2019

$1,055,000

-2.7%

75

42

2018

$952,000

-1.5%

76

42

2017

$1,045,000

-3.1%

97

58

2016

$907,500

-3.4%

86

49

2015

$889,000

-2.5%

81

50

Los Angeles Q1 Market Update / Hancock Park | Wilshire/ 18


at a glance {Q1 | 2019}

hancock park/wilshire

10.8

%

Change in Median Selling Price {2019 vs 2018}

42 Average Days on Market

75 Units Sold

1.0m

$

Median Selling Price


at a glance {Q1 | 2019}

los feliz

0.6

%

Change in Median Selling Price {2019 vs 2018}

40 Average Days on Market

33 Units Sold

1.7m

$

Median Selling Price


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 70

$2,000,000 $1,800,000

60

$1,600,000

50

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

40

$1,000,000 30

$800,000 $600,000

20

$400,000

10

$200,000

-

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Q1 2019

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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

-0.6%

-

-31.3%

-7.4%

2019

$1,695,000

0.6%

33

40

2018

$1,684,500

1.4%

48

44

2017

$1,258,500

-5.1%

36

72

2016

$1,420,000

-2.8%

59

58

2015

$1,208,758

-2.4%

54

50

/

21 Los Feliz

/ Los Angeles Q1 Market Update


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 60

$3,500,000

50

$3,000,000 $2,500,000

40

$2,000,000 30 $1,500,000 20

$1,000,000

10

$500,000

-

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Q1 2019

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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

15.8%

-

-56.9%

-7.0%

2019

$2,547,500

-4.0%

22

86

2018

$2,200,000

-7.9%

51

93

2017

$2,670,000

-8.9%

46

118

2016

$1,717,187

-6.4%

51

85

2015

$1,925,000

-7.1%

48

117

Los Angeles Q1 Market Update / Malibu / 22


at a glance {Q1 | 2019}

malibu

15.8

%

Change in Median Selling Price {2019 vs 2018}

86 Average Days on Market

22 Units Sold

2.5m

$

Median Selling Price


at a glance {Q1 | 2019}

pacific palisades

-3.0

%

Change in Median Selling Price {2019 vs 2018}

50 Average Days on Market

48 Units Sold

2.6m

$

Median Selling Price


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 80

$4,000,000

70

$3,500,000

60

$3,000,000

50

$2,500,000

40

$2,000,000

30

$1,500,000

20

$1,000,000

10

$500,000

-

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Q1 2019

Total Units Sold

Average Selling Price

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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

-3.0%

-

-17.2%

-6.9%

2019

$2,640,000

-4.8%

48

50

2018

$2,723,000

-3.5%

58

54

2017

$2,575,000

-4.9%

68

63

2016

$2,483,258

-2.7%

74

40

2015

$2,711,500

-2.5%

67

48

/

25 Pacific Palisades

/ Los Angeles Q1 Market Update


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 160

$2,500,000

140 $2,000,000

120 100

$1,500,000

80 $1,000,000

60 40

$500,000

20 -

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Q1 2019

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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

0.4%

-

-2.7%

53.1%

2019

$1,425,000

-1.8%

107

49

2018

$1,420,000

1.8%

110

32

2017

$1,486,000

0.2%

129

37

2016

$1,418,500

-1.6%

126

38

2015

$1,175,000

-0.6%

142

46

Los Angeles Q1 Market Update / Santa Monica / 26


at a glance {Q1 | 2019}

santa monica

0.4

%

Change in Median Selling Price {2019 vs 2018}

49 Average Days on Market

107 Units Sold

1.4m

$

Median Selling Price


at a glance {Q1 | 2019}

silver lake / echo park

-11.4

%

Change in Median Selling Price {2019 vs 2018}

42 Average Days on Market

70 Units Sold

$870k Median Selling Price


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 90

$1,400,000

80

$1,200,000

70 $1,000,000

60 50

$800,000

40

$600,000

30

$400,000

20 $200,000

10 -

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Total Units Sold

Q1 2019 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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

-11.4%

-

2.9%

-14.6%

2019

$870,00

-0.4%

70

42

2018

$982,000

4.3%

68

49

2017

$925,000

0.9%

67

46

2016

$910,00

2.6%

83

47

2015

$755,000

3.7%

67

45

/

29 Silver Lake | Echo Park

/ Los Angeles Q1 Market Update


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 140

$3,000,000

120

$2,500,000

100

$2,000,000

80 $1,500,000 60 $1,000,000

40

$500,000

20 -

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Q1 2019

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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

5.5%

-

-17.1%

4.9%

2019

$1,875,000

-4.8%

87

52

2018

$1,777,777

-2.8%

105

50

2017

$1,595,000

-3.0%

129

54

2016

$1,475,000

-4.8%

128

60

2015

$1,585,000

-4.2%

113

67

Los Angeles Q1 Market Update / Sunset Strip | Hollywood Hills / 30


at a glance {Q1 | 2019}

sunset strip / hollywood hills

5.5

%

Change in Median Selling Price {2019 vs 2018}

52 Average Days on Market

87 Units Sold

1.9m

$

Median Selling Price


{Q1 | 2019}

the valley (san fernando)

Neighborhood Highlights Sold Prop. vs Avg. Price vs. Median Sales Price

Burbank

Average Selling Price | Total Units Sold | Median Sales Price 120

$1,000,000 $900,000

100

$800,000 $700,000

80

$600,000 60

$500,000 $400,000

40

$300,000 $200,000

20

$100,000 -

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Total Units Sold

Q1 2019

16.2

%

Change in median sales price {2019 vs 2018}

43 71

Average DOM

Properties Sold

$860k

Median Selling Price

Average Selling Price

Sold Prop. vs Avg. Price vs. Median Sales Price

Studio City

Average Selling Price | Total Units Sold | Median Sales Price 50

$1,200,000

1.1

%

Change in median sales price {2019 vs 2018}

45 $1,000,000

40 35

$800,000

30 25

$600,000

20 $400,000

15 10

$200,000

5 -

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Total Units Sold

Q1 2019 Average Selling Price

48 97

Average DOM

Properties Sold

$1.3M

Median Selling Price


Sold Prop. vs Avg. Price vs. Median Sales Price

Sherman Oaks

Average Selling Price | Total Units Sold | Median Sales Price 250

$1,400,000

9.9

%

Change in median sales price {2019 vs 2018}

$1,200,000

200

$1,000,000 150

$800,000 $600,000

100

$400,000 50

$200,000

-

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Total Units Sold

Q1 2019

54 143

Average DOM

Properties Sold

$1M

Median Selling Price

Average Selling Price

Sold Prop. vs Avg. Price vs. Median Sales Price

Valley Village

Average Selling Price | Total Units Sold | Median Sales Price 50

-1.7

%

$1,200,000

Change in median sales price {2019 vs 2018}

45 $1,000,000

40 35

$800,000

30 25

$600,000

20 $400,000

15 10

$200,000

5 -

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Total Units Sold

37 35

Average DOM

Properties Sold

$875k

Median Selling Price

Q1 2019 Average Selling Price

/

33 The Valley (San Fernando)

/ Los Angeles Q1 Market Update


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 60

$3,000,000

50

$2,500,000

40

$2,000,000

30

$1,500,000

20

$1,000,000

10

$500,000

-

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Total Units Sold

Q1 2019 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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

6.5%

-

-18.4%

-25.1%

2019

$2,130,000

-5.7%

40

56

2018

$2,000,000

-5.1%

49

75

2017

$1,590,000

-1.3%

52

41

2016

$1,840,000

-3.5%

47

54

2015

$1,452,500

-3.4%

48

55

Los Angeles Q1 Market Update / Venice / 34


at a glance {Q1 | 2019}

venice

6.5

%

Change in Median Selling Price {2019 vs 2018}

56 Average Days on Market

40 Units Sold

2.1m

$

Median Selling Price


at a glance {Q1 | 2019}

west hollywood

10.3

%

Change in Median Selling Price {2019 vs 2018}

41 Average Days on Market

88 Units Sold

$962k Median Selling Price


Sold Prop. vs Avg. Price vs. Median Sales Price

Average Selling Price | Total Units Sold | Median Sales Price 140

$1,400,000

120

$1,200,000

100

$1,000,000

80

$800,000

60

$600,000

40

$400,000

20

$200,000

-

$0

Q1 2015

Q1 2016

Median Sales Price

Q1 2017

Q1 2018

Q1 2019

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

Q1

Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market

{2019 vs 2018}

Change

10.3%

-

-15.4%

14.3%

2019

962,000

-2.1%

88

41

2018

$872,500

-0.7%

104

36

2017

$842,000

-2.0%

110

39

2016

$785,000

-2.3%

111

39

2015

$756,000

-3.1%

129

54

/

37 West Hollywood

/ Los Angeles Q1 Market Update


UNRIVALED

GLOBAL PERFORMANCE

Featured Property:

26962MCC.COM | MALIBU, CA 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. 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. SIR DRE License Number: 899496


$112 BILLION ANOTHER RECORD YEAR IN ANNUAL GLOBAL SALES IN 2018

990 22,500 72 OFFICES

AGENTS

COUNTRIES

1 3 OUT OF

OFFICES IS OUTSIDE OF THE UNITED STATES

31 MILLION VISITS TO SOTHEBYSREALTY.COM 13% INCREASE YEAR OVER YEAR

180,000 YOUTUBE SUBSCRIBERS SILVER CREATOR AWARD WINNER


Exceptional Diamonds. Curated by Sotheby’s.

LONDON HONG KONG NEW YORK. SOTHEBYSDIAMONDS.COM


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