Q2 | 2019
Greater Los Angeles
Market Update
BRENTWOOD
TheBarringtonResidence.com Offered at $21,500,000
BRENTWOOD
624Bonhill.com Offered at $27,850,000
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
BEVERLY HILLS
1275BenedictCanyonDr.com Offered at $9,490,000
VER 1. UPDATE DATA a message from
Michael Williamson
Regional Senior Vice President, Greater Los Angeles
The Greater Los Angeles real estate market started the year with rising inventory and stable prices. According to the CLAW MLS, when comparing the second quarter of 2019 to the same time last year, average days on market for Greater LA decreased to 29 days, compared to 35 days the year prior, while both Beverly Hills and Bel Air-Holmby Hills had an increase in median sale price by 23.8% and 21.3%, respectively. Following a challenging beginning to the year, the market has accelerated as Los Angeles remains a favorable destination. 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. Even though the Sotheby’s International Realty brand sells many of the world’s most expensive homes, we believe luxury is an experience, not a price point. We represent the highest quality homes in all price categories. In fact, in 2018, 59% of the company’s transactions were for properties up to $1 million. 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. Statistics based on Sotheby’s International Realty, Inc. 2018 sales. Sotheby’s International Realty DRE License Number: 899496.
Market Snapshot
Q2 2019 | Greater Los Angeles
MARKET SHARE BY VOL.
Closed Units vs ASP vs MSP $1,200,000
12,600 12,400
$1,000,000 12,200
Greater than $5M
Less than $1M
$800,000
12,000 11,800
$600,000 11,600 11,400
$400,000
$1M - $5M
11,200 $200,000 11,000 10,800
$0 Q2 2015
Less than $1M
$1M - $5M
Greater than $5M
Sales Volume by Price Category 21 % 21 % 58 %
Q2 2016
PROPERTIES SOLD
Q2 2017 ASP
Q2 2019
MEDIAN SALES PRICE
Median Selling Price vs. Average Selling Price vs. Total Units Sold
Under $1 Million
Average Selling Price
Over $5 Million
Median Sale Price
$1 Million to $5 Million
Total Units Sold
Los Angeles Q2 Market Update / Q2 Highlights / 6
Q2 2018
1.4m $ 2.7m $ 2.6m $ 2m $ 0.6m
$
Bel Air - Holmby Hills
Bel-Air | Holmby Hills
Beverly Hills
Beverly Hills Post Office
Brentwood
Downtown Los Angeles
1.2m $ 1.7m $ 1.8m $ 2.4m $ 1.4m
$
Los Feliz
Malibu
Pacific Palisades
Santa Monica
Hancock Park / Wilshire
1m $ 1.7m $ 1.8m $ 0.9m
$
Venice
West Hollywood
Median Selling Price
Silver Lake | Echo Park
Sunset Strip | Hollywood Hills EAST SIDE MARKETS (TOTAL)
Westwood - Century City
West Hollywood Vicinity
West Hills
Venice
Valley Village
University City
Topanga
Toluca Lake
Sunset Strip - Hollywood Hills West
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
Comparison by Neighborhood Q2 | 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 {Q2 | 2019}
bel-air | holmby hills
21.3
%
Change in Median Selling Price {2019 vs 2018}
72 Average Days on Market
53 Units Sold
2.4m
$
Median Selling Price
Sold Prop. vs Avg. Price vs. Median Sales Price 60
$6,000,000
50
$5,000,000
40
$4,000,000
30
$3,000,000
20
$2,000,000
10
$1,000,000
-
$0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019 MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
21.3%
-
35.9%
33%
2019
$2,364,375
-9.2%
53
72
2018
$1,950,000
-4.7%
39
54
2017
$2,170,000
-3.9%
54
68
2016
$1,847,500
-5.7%
52
88
2015
$2,417,500
-2.9%
44
58
/
9 Bel Air | Holmby Hills
/ Los Angeles Q2 Market Update
Sold Prop. vs Avg. Price vs. Median Sales Price $6,000,000
100 90
$5,000,000
80 70 60 50 40 30 20 10 -
$4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019
MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
23.8%
-
32.7%
28.3%
2019
$2,650,000
-5.2%
69
57
2018
$2,140,000
-2.3%
52
44
2017
$3,305,000
-2.9%
80
51
2016
$2,430,000
-4.0%
65
64
2015
$ 2,622,500
-3.0%
94
60
Los Angeles Q2 Market Update / Beverly Hills / 10
at a glance {Q2 | 2019}
beverly hills
23.8
%
Change in Median Selling Price {2019 vs 2018}
57 Average Days on Market
69 Units Sold
2.6m
$
Median Selling Price
at a glance {Q2 | 2019}
beverly hills post office
-12.7
%
Change in Median Selling Price {2019 vs 2018}
43 Average Days on Market
36 Units Sold
2.6m
$
Median Selling Price
Sold Prop. vs Avg. Price vs. Median Sales Price $6,000,000
50 45
$5,000,000
40 35 30 25 20 15 10 5 -
$4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019 MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
-12.7%
-
-14.3%
-43.3%
2019
$2,560,000
-3.2%
36
43
2018
$2,932,000
-6.5%
42
77
2017
$3,450,000
-6.6%
47
65
2016
$2,390,000
-2.7%
38
83
2015
$2,795,000
-7.7%
43
82
/
13 Beverly Hills Post Office
/ Los Angeles Q2 Market Update
Sold Prop. vs Avg. Price vs. Median Sales Price 160
$4,000,000
140
$3,500,000
120
$3,000,000
100
$2,500,000
80
$2,000,000
60
$1,500,000
40
$1,000,000
20
$500,000
-
$0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019
MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
-8.2%
-
11.8%
46.5%
2019
$2,000,000
-3.7%
114
49
2018
$2,178,168
0.9%
102
33
2017
$1,900,000
-1.7%
128
37
2016
$1,872,500
-1.1%
130
46
2015
$1,523,500
0.8%
138
40
Los Angeles Q2 Market Update / Brentwood / 14
at a glance {Q2 | 2019}
brentwood
-8.2
%
Change in Median Selling Price {2019 vs 2018}
49 Average Days on Market
114 Units Sold
2
$ m Median Selling Price
at a glance {Q2 | 2019}
downtown los angeles
-7.5
%
Change in Median Selling Price {2019 vs 2018}
63 Average Days on Market
85 Units Sold
613k
$
Median Selling Price
Sold Prop. vs Avg. Price vs. Median Sales Price 140
$900,000
120
$800,000 $700,000
100
$600,000
80
$500,000
60
$400,000 $300,000
40
$200,000
20
$100,000
-
$0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018
ASP
Q2 2019
MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
-7.5%
-
-13.3%
-94.8%
2019
$612,500
-3.1%
85
63
2018
$662,500
-1.3%
98
32
2017
$605,000
-2.8%
119
46
2016
$634,250
-2.2%
85
50
2015
$617,500
-1.6%
114
46
/
17 Downtown Los Angeles
/ Los Angeles Q2 Market Update
Sold Prop. vs Avg. Price vs. Median Sales Price 160
$1,800,000
140
$1,600,000
120
$1,400,000 $1,200,000
100
$1,000,000
80
$800,000
60
$600,000
40
$400,000
20
$200,000
-
$0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019
MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
-4.2%
-
-18.9%
5.7%
2019
$1,200,000
-1.4%
99
39
2018
$1,252,500
-0.1%
122
37
2017
$970,000
-0.3%
145
44
2016
$970,000
-1.8%
131
43
2015
$1,025,000
-1.1%
129
43
Los Angeles Q2 Market Update / Hancock Park | Wilshire/ 18
at a glance {Q2 | 2019}
hancock park/wilshire
-4.2
%
Change in Median Selling Price {2019 vs 2018}
39 Average Days on Market
99 Units Sold
1.2m
$
Median Selling Price
at a glance {Q2 | 2019}
los feliz
-6.7
%
Change in Median Selling Price {2019 vs 2018}
38 Average Days on Market
55 Units Sold
1.7m
$
Median Selling Price
Sold Prop. vs Avg. Price vs. Median Sales Price $2,500,000
90 80
$2,000,000
70 60
$1,500,000
50 40
$1,000,000
30 20
$500,000
10 -
$0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019 MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
-6.7%
-
-9.8%
3.7%
2019
$1,730,000
0.3%
55
38
2018
$1,855,000
1.5%
61
37
2017
$1,607,500
-0.6%
82
40
2016
$1,360,000
-2.1%
65
40
2015
$1,166,600
-1.6%
66
33
/
21 Los Feliz
/ Los Angeles Q2 Market Update
Sold Prop. vs Avg. Price vs. Median Sales Price 70
$4,000,000
60
$3,500,000 $3,000,000
50
$2,500,000
40
$2,000,000
30
$1,500,000
20
$1,000,000
10
$500,000
-
$0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019 MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
-42.6%
-
-31.4%
11.6%
2019
$1,850,000
-7.2%
35
84
2018
$3,225,000
-5.7%
51
75
2017
$2,012,500
-7.2%
52
83
2016
$2,562,500
-6.7%
62
77
2015
$1,937,500
-6.1%
66
110
Los Angeles Q2 Market Update / Malibu / 22
at a glance {Q2 | 2019}
malibu
-42.6
%
Change in Median Selling Price {2019 vs 2018}
84 Average Days on Market
35 Units Sold
1.9m
$
Median Selling Price
at a glance {Q2 | 2019}
pacific palisades
-14.8
%
Change in Median Selling Price {2019 vs 2018}
34 Average Days on Market
63 Units Sold
2.4m
$
Median Selling Price
Sold Prop. vs Avg. Price vs. Median Sales Price $4,500,000
120
$4,000,000
100
$3,500,000 $3,000,000
80
$2,500,000
60
$2,000,000
40
$1,500,000 $1,000,000
20
$500,000
-
$0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019
MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
-14.8%
-
-27.6%
-44.7%
2019
$2,415,000
-2.7%
63
34
2018
$2,835,000
-3.7%
87
50
2017
$2,640,000
-0.1%
93
31
2016
$2,050,000
-2.4%
97
41
2015
$2,425,000
-0.3%
109
38
/
25 Pacific Palisades
/ Los Angeles Q2 Market Update
Sold Prop. vs Avg. Price vs. Median Sales Price 250
$2,500,000
200
$2,000,000
150
$1,500,000
100
$1,000,000
50
$500,000
-
$0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019
MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
-3.3%
-
-22.7%
12.2%
2019
$1,450,000
-1.5%
133
35
2018
$1,499,500
0.8%
172
31
2017
$1,540,000
1.4%
171
32
2016
$1,435,000
-0.2%
167
33
2015
$1,348,500
2.1%
216
36
Los Angeles Q2 Market Update / Santa Monica / 26
at a glance {Q2 | 2019}
santa monica
-3.3
%
Change in Median Selling Price {2019 vs 2018}
35 Average Days on Market
133 Units Sold
1.5m
$
Median Selling Price
at a glance {Q2 | 2019}
silver lake / echo park
2.4
%
Change in Median Selling Price {2019 vs 2018}
26 Average Days on Market
103 Units Sold
1
$ m Median Selling Price
Sold Prop. vs Avg. Price vs. Median Sales Price 140
$1,200,000
120
$1,000,000
100
$800,000
80
$600,000
60
$400,000
40
$200,000
20
$0
Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019
MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
2.4%
-
-3.7%
15.7%
2019
$1,012,000
3.1%
103
26
2018
$988,000
3.9%
107
23
2017
$910,000
4.1%
122
28
2016
$932,500
3.5%
80
31
2015
$796,143
3.0%
80
38
/
29 Silver Lake | Echo Park
/ Los Angeles Q2 Market Update
Sold Prop. vs Avg. Price vs. Median Sales Price 180
$3,000,000
160
$2,500,000
140 120
$2,000,000
100
$1,500,000
80
$1,000,000
60 40
$500,000
20
$0
Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019
MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
6.2%
-
-21.7%
12.5%
2019
$1,698,500
-4.2%
119
57
2018
$1,600,000
-1.4%
152
51
2017
$1,618,500
-1.9%
158
43
2016
$1,462,500
-2.0%
140
47
2015
$1,587,500
-2.6%
151
55
Los Angeles Q2 Market Update / Sunset Strip | Hollywood Hills / 30
at a glance {Q2 | 2019}
sunset strip / hollywood hills
6.2
%
Change in Median Selling Price {2019 vs 2018}
57 Average Days on Market
119 Units Sold
1.7m
$
Median Selling Price
{Q2 | 2019}
the valley (san fernando)
Neighborhood Highlights Burbank Sold Prop. vs Avg. Price vs. Median Sales Price 160
$1,000,000 $900,000
140
$800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0
120 100 80 60 40 20 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019
MEDIAN SALES PRICE
Median Sales Price
Average Selling Price
13.6
%
Change in median sales price {2019 vs 2018}
43 88
Average DOM
Properties Sold
$860k
Median Selling Price
Studio City Sold Prop. vs Avg. Price vs. Median Sales Price 160
$1,800,000
140
$1,600,000
120
$1,400,000 $1,200,000
100
$1,000,000
80
$800,000
60
$600,000
40
$400,000
20
$200,000
-
$0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Median Sales Price
Q2 2019
MEDIAN SALES PRICE
Average Selling Price
11
%
Change in median sales price {2019 vs 2018}
39 131
Average DOM
Properties Sold
$1.4m
Median Selling Price
Sherman Oaks Sold Prop. vs Avg. Price vs. Median Sales Price 350
$1,400,000
300
$1,200,000
250
$1,000,000
200
$800,000
150
$600,000
100
$400,000
50
$200,000
-
$0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019
MEDIAN SALES PRICE
Median Sales Price
Average Selling Price
8.7
%
Change in median sales price {2019 vs 2018}
31 250
Average DOM
Properties Sold
$1m
Median Selling Price
Valley Village 70
$1,200,000
60
$1,000,000
50
$800,000
40
$600,000
30
$400,000
20 10
$200,000
-
$0 Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Median Sales Price
-4.3
%
Sold Prop. vs Avg. Price vs. Median Sales Price
Change in median sales price {2019 vs 2018}
29 54
Average DOM
Properties Sold
Q2 2019
MEDIAN SALES PRICE
Average Selling Price
/
$911k
Median Selling Price
33 The Valley (San Fernando)
/ Los Angeles Q2 Market Update
Sold Prop. vs Avg. Price vs. Median Sales Price 80
$3,000,000
70
$2,500,000
60 $2,000,000
50
$1,500,000
40 30
$1,000,000
20
$500,000
10
$0
Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019 MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
-17.5%
-
-20%
-8.2%
2019
$1,802,500
-4.8%
48
39
2018
$2,185,000
-2.9%
60
43
2017
$2,125,000
-1.7%
57
42
2016
$1,775,000
-3.9%
59
56
2015
$1,804,835
-0.1%
70
50
Los Angeles Q2 Market Update / Venice / 34
at a glance {Q2 | 2019}
venice
-17.5
%
Change in Median Selling Price {2019 vs 2018}
39 Average Days on Market
48 Units Sold
1.8m
$
Median Selling Price
at a glance {Q2 | 2019}
west hollywood
-7.4
%
Change in Median Selling Price {2019 vs 2018}
34 Average Days on Market
116 Units Sold
$913k Median Selling Price
Sold Prop. vs Avg. Price vs. Median Sales Price 180
$1,400,000
160
$1,200,000
140
$1,000,000
120 100
$800,000
80
$600,000
60
$400,000
40
$200,000
20
$0
Q2 2015
Q2 2016
Q2 2017
PROPERTIES SOLD
Total Units Sold
Q2 2018 ASP
Q2 2019
MEDIAN SALES PRICE
Median Sales Price
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
Q2
Median Sale Price Closed Average Days Selling Price vs. List Price Units on Market
{2019 vs 2018}
Change
-7.4%
-
-4.1%
41.1%
2019
$912,500
-2.0%
116
34
2018
$985,000
-0.4%
121
24
2017
$815,000
-0.9%
141
34
2016
$834,750
-1.7%
136
34
2015
$715,000
-1.4%
153
36
/
37 West Hollywood
/ Los Angeles Q2 Market Update
UNRIVALED
GLOBAL PERFORMANCE
PACIFIC PALISADES
SuperSecretPocket.com Offered at $7,000,000 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. Statistics based on Sotheby’s International Realty, Inc. 2018 sales. SIR DRE License Number: 899496
$112 BILLION ANOTHER RECORD YEAR IN ANNUAL GLOBAL SALES IN 2018
1,000 22,700 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
PHOTO BY PAUL VAN COTTHEM ON UNSPLASH
w i n e i s a n e v e r- e n d i n g j o u r n e y. sothebyswine.com
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