Local Market Report May 2014
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
Pacific Palisades
19
Beverlywood
6
Palms - Mar Vista
20
Brentwood
7
Playa Vista
21
Cheviot Hills - Rancho Park
8
Santa Monica
22
Culver City
9
Silverlake - Echo Park
23
Hancock Park - Wilshire
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
May 2013
May 2014
%Change
Median Price $1,885,000
$3,408,794
81
Properties Sold
15
67
Sales Volume $27,936,999
$94,124,294
237
Properties Pending Sale
16
-6
Properties For Sale 134
110
-18
Average Days on Market
55
-17
Month’s Supply of Inventory 6
5
-17
Percent Under Contract
14.5
15
9
17
66
12.7
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Center - Miracle Mile
May 2013
May 2014
%Change
Median Price $1,150,000
$1,230,000
7
Properties Sold
31
21
-32
$29,640,575
-23
29
22
-24
Properties For Sale 80
67
-16
39
30
2
0
32.8
-9
Sales Volume $38,539,401
Properties Pending Sale
Average Days on Market
30
Month’s Supply of Inventory 2
Percent Under Contract
36.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills
May 2013
May 2014
%Change
Median Price $4,575,000
$6,200,000
36
15
-17
$105,286,750
15
15
-17
94
-23
61
-33
4
-20
Properties Sold
18
Sales Volume $91,857,307
Properties Pending Sale
18
Properties For Sale 122
Average Days on Market
91
Month’s Supply of Inventory 5
Percent Under Contract
14.8
16.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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8
Beverly Hills P.O.
May 2013
Median Price $2,268,000
Properties Sold
12
Sales Volume $35,886,355
Properties Pending Sale
11
Properties For Sale 120
Average Days on Market
49
Month’s Supply of Inventory 9
Percent Under Contract
9.2
May 2014
%Change
$2,065,000
-9
14
17
$27,924,625
-24
20
82
126
5
94
92
4
-56
15.9
73
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Beverlywood
May 2013
May 2014
%Change
Median Price $814,810
$820,000
1
18
80
$17,148,000
142
22
26
18
Properties For Sale 62
78
26
28
-26
2
0
33.3
-6
Properties Sold
10
Sales Volume $7,097,420
Properties Pending Sale
Average Days on Market
38
Month’s Supply of Inventory 2
Percent Under Contract
35.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Brentwood
May 2013
May 2014
%Change
Median Price $2,710,000
$3,000,000
11
23
-15
$117,544,726
38
32
10
122
-2
52
-2
2
-33
26.2
13
Properties Sold
27
Sales Volume $85,370,060
Properties Pending Sale
29
Properties For Sale 125
Average Days on Market
53
Month’s Supply of Inventory 3
Percent Under Contract
23.2
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Cheviot Hills - Rancho Park
May 2013
May 2014
%Change
Median Price $1,222,500
$1,492,500
22
8
167
$12,790,000
289
10
12
20
Properties For Sale 37
28
-24
19
73
1
-50
42.9
59
Properties Sold
3
Sales Volume $3,285,025
Properties Pending Sale
Average Days on Market
11
Month’s Supply of Inventory 2
Percent Under Contract
27.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Culver City
May 2013
May 2014
%Change
Median Price $713,000
$800,000
12
15
-21
$11,261,500
-5
24
18
-25
Properties For Sale 67
41
-39
28
4
1
-50
43.9
23
Properties Sold
19
Sales Volume $11,895,000
Properties Pending Sale
Average Days on Market
27
Month’s Supply of Inventory 2
Percent Under Contract
35.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hancock Park - Wilshire
May 2013
May 2014
%Change
Median Price $1,127,500
$1,048,750
-7
24
-20
$39,783,500
-17
27
-7
132
-3
39
22
3
0
20.5
-4
Properties Sold
30
Sales Volume $47,767,500
Properties Pending Sale
29
Properties For Sale 136
Average Days on Market
32
Month’s Supply of Inventory 3
Percent Under Contract
21.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hollywood
May 2013
May 2014
%Change
Median Price $612,000
$1,213,750
98
4
-43
$5,415,000
30
13
117
43
23
59
23
2
-50
30.2
76
Properties Sold
7
Sales Volume $4,157,000
Properties Pending Sale
6
Properties For Sale 35
Average Days on Market
48
Month’s Supply of Inventory 4
Percent Under Contract
17.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hollywood Hills East
May 2013
May 2014
%Change
Median Price $905,000
$1,100,000
22
13
-24
$12,688,000
-24
16
14
-13
Properties For Sale 80
69
-14
57
-17
3
-25
Properties Sold
17
Sales Volume $16,585,865
Properties Pending Sale
Average Days on Market
69
Month’s Supply of Inventory 4
Percent Under Contract
20.0
20.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
1
Los Feliz
May 2013
May 2014
%Change
Median Price $1,020,000
$1,100,000
8
27
8
$31,902,866
5
Properties Sold
25
Sales Volume $30,324,990
Properties Pending Sale
34
Properties For Sale 119
Average Days on Market
51
Month’s Supply of Inventory 2
Percent Under Contract
28.6
24
-29
104
-13
44
-14
3
50
23.1
-19
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu
May 2013
May 2014
%Change
Median Price $2,107,500
$2,687,500
28
18
125
$51,303,612
250
Properties Sold
8
Sales Volume $14,654,000
Properties Pending Sale
15
Properties For Sale 227
Average Days on Market
165
Month’s Supply of Inventory 14
Percent Under Contract
6.6
16
7
202
-11
131
-21
10
-29
7.9
20
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu Beach
May 2013
May 2014
%Change
Median Price $3,750,000
$9,930,000
165
1
-75
$9,930,000
-45
2
-33
80
-10
58
-71
36
50
2.5
-26
Properties Sold
4
Sales Volume $18,000,000
Properties Pending Sale
3
Properties For Sale 89
Average Days on Market
203
Month’s Supply of Inventory 24
Percent Under Contract
3.4
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Marina del Rey
May 2013
May 2014
%Change
Median Price $2,030,177
$1,517,500
-25
10
400
$14,839,000
265
Properties Sold
2
Sales Volume $4,060,355
Properties Pending Sale
5
Properties For Sale 19
Average Days on Market
37
Month’s Supply of Inventory 3
Percent Under Contract
26.3
5
0
19
0
51
38
3
0
26.3
0
*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
May 2013
May 2014
%Change
Median Price $445,000
$373,000
-16
30
-14
$7,816,500
-41
29
26
133
15
35
-3
3
-25
21.8
10
Properties Sold
35
Sales Volume $13,182,570
Properties Pending Sale
23
Properties For Sale 116
Average Days on Market
36
Month’s Supply of Inventory 4
Percent Under Contract
19.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Mid Wilshire
May 2013
May 2014
%Change
Median Price $435,000
$660,000
52
6
100
2,050,500
89
2
100
33
14
24
75
213
Month’s Supply of Inventory 27
11
-59
6.1
76
Properties Sold
3
Sales Volume $1,085,000
Properties Pending Sale
1
Properties For Sale 29
Average Days on Market
Percent Under Contract
3.4
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Pacific Palisades
May 2013
May 2014
%Change
Median Price $2,000,000
$3,010,000
51
29
-17
Properties Sold
35
Sales Volume $84,678,300
Properties Pending Sale
34
Properties For Sale 136
Average Days on Market
49
Month’s Supply of Inventory 3
Percent Under Contract
25.0
$87,327,288
3
44
29
130
-4
49
0
2
-33
33.8
35
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Palms - Mar Vista
May 2013
May 2014
%Change
Median Price $960,000
$915,000
-5
27
0
$26,974,000
9
Properties Sold
27
Sales Volume $24,674,900
Properties Pending Sale
29
25
-14
Properties For Sale 88
81
-8
20
-20
2
0
30.9
-6
Average Days on Market
25
Month’s Supply of Inventory 2
Percent Under Contract
33.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Playa Vista
May 2013
May 2014
Median Price $1,250,000
n/a
Properties Sold
1
%Change n/a
0
-100
0
-100
1
1
0
Properties For Sale 6
9
50
2
-98
6
20
11.1
-33
Sales Volume $1,250,000
Properties Pending Sale
Average Days on Market
83
Month’s Supply of Inventory 5
Percent Under Contract
16.7
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Santa Monica
May 2013
May 2014
%Change
Median Price $1,635,000
$1,575,000
-4
17
-43
$31,388,000
-51
26
24
-8
Properties For Sale 94
89
-5
41
5
2
0
27.0
-3
Properties Sold
30
Sales Volume $63,824,378
Properties Pending Sale
Average Days on Market
39
Month’s Supply of Inventory 2
Percent Under Contract
27.7
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Silverlake - Echo Park
May 2013
May 2014
%Change
Median Price $675,000
$899,000
33
33
0
$32,302,988
78
32
34
6
Properties For Sale 89
95
7
61
126
1
-50
Properties Sold
33
Sales Volume $18,112,153
Properties Pending Sale
Average Days on Market
27
Month’s Supply of Inventory 2
Percent Under Contract
36.0
35.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
0
Sunset Strip - Hollywood Hills West
May 2013
May 2014
%Change
Median Price $1,325,000
$1,836,375
39
36
-29
$86,895,400
-25
39
-11
262
0
56
27
5
25
14.9
-11
Properties Sold
51
Sales Volume $116,338,500
Properties Pending Sale
44
Properties For Sale 263
Average Days on Market
44
Month’s Supply of Inventory 4
Percent Under Contract
16.7
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Venice
May 2013
May 2014
%Change
Median Price $1,349,000
$1,427,000
6
26
37
$46,206,000
71
33
23
-30
Properties For Sale 91
66
-27
35
-13
2
0
34.8
-4
Properties Sold
19
Sales Volume $27,004,000
Properties Pending Sale
Average Days on Market
40
Month’s Supply of Inventory 2
Percent Under Contract
36.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Hollywood
May 2013
May 2014
%Change
Median Price $1,107,500
$1,291,875
17
11
-31
$15,992,188
-16
8
-27
40
-2
25
-39
3
50
20.0
-25
Properties Sold
16
Sales Volume $18,930,870
Properties Pending Sale
11
Properties For Sale 41
Average Days on Market
41
Month’s Supply of Inventory 2
Percent Under Contract
26.8
*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
May 2013
May 2014
%Change
Median Price $749,000
$857,000
14
12
33
$7,012,500
45
14
133
38
100
20
43
2
0
36.8
17
Properties Sold
9
Sales Volume $4,838,500
Properties Pending Sale
6
Properties For Sale 19
Average Days on Market
14
Month’s Supply of Inventory 2
Percent Under Contract
31.6
*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
May 2013
May 2014
%Change
Median Price $1,480,000
$1,885,000
27
16
-30
$35,722,769
-12
21
20
-5
Properties For Sale 53
68
28
30
76
2
100
29.4
-26
Properties Sold
23
Sales Volume $40,507,801
Properties Pending Sale
Average Days on Market
17
Month’s Supply of Inventory 1
Percent Under Contract
39.6
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
RODEO REALTY MARKETING DEPARTMENT