Local Market Report
Los Angeles - Westside November 2013 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
Nov. 2012
Nov. 2013
%Change
Median Price $1,687,500
$2,249,500
33
Properties Sold
15
7
14
Sales Volume $54,676,300
$46,052,148
-16
Properties Pending Sale
12
-8
Properties For Sale 133
118
-11
Average Days on Market
92
-17
Month’s Supply of Inventory 8
8
0
Percent Under Contract
10.2
4
13
111
9.8
*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
Nov. 2012
Nov. 2013
%Change
Median Price $916,500
$1,607,500
75
8
-43
$12,435,000
-6
14
13
-7
Properties For Sale 61
57
-7
45
2
3
0
22.8
-1
Properties Sold
14
Sales Volume $13,277,000
Properties Pending Sale
Average Days on Market
44
Month’s Supply of Inventory 3
Percent Under Contract
23.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills
Nov. 2012
Nov. 2013
%Change
Median Price $5,050,000
$4,797,500
-5
10
-44
$71,855,750
-36
13
-19
96
-17
125
67
5
-17
13.5
-3
Properties Sold
18
Sales Volume $112,136,250
Properties Pending Sale
16
Properties For Sale 115
Average Days on Market
75
Month’s Supply of Inventory 6
Percent Under Contract
13.9
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills P.O.
Nov. 2012
Nov. 2013
%Change
Median Price $1,600,000
$1,658,000
4
13
18
$26,129,800
-5
13
-13
116
2
67
5
7
17
11.2
-15
Properties Sold
11
Sales Volume $27,406,897
Properties Pending Sale
15
Properties For Sale 114
Average Days on Market
64
Month’s Supply of Inventory 6
Percent Under Contract
13.2
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverlywood
Nov. 2012
Nov. 2013
%Change
Median Price $835,000
$843,000
1
15
50
$14,191,000
31
21
16
-24
Properties For Sale 61
62
2
29
-54
2
0
Properties Sold
10
Sales Volume $10,832,000
Properties Pending Sale
Average Days on Market
63
Month’s Supply of Inventory 2
Percent Under Contract
34.4
25.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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-25
Brentwood
Nov. 2012
Nov. 2013
%Change
Median Price $1,606,573
$2,082,500
30
16
-43
$46,216,450
-36
20
82
101
-8
49
-51
3
-63
19.8
98
Properties Sold
28
Sales Volume $72,330,202
Properties Pending Sale
11
Properties For Sale 110
Average Days on Market
101
Month’s Supply of Inventory 8
Percent Under Contract
10.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Cheviot Hills - Rancho Park
Nov. 2012
Nov. 2013
%Change
Median Price $1,098,000
$1,511,500
38
4
100
$5,723,000
161
5
67
17
13
73
20
2
-50
29.4
47
Properties Sold
2
Sales Volume $2,196,000
Properties Pending Sale
3
Properties For Sale 15
Average Days on Market
61
Month’s Supply of Inventory 4
Percent Under Contract
20.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Culver City
Nov. 2012
Nov 2013
%Change
Median Price $658,500
$790,750
20
10
-50
$6,135,300
-47
10
14
40
Properties For Sale 46
42
-9
31
-37
2
-33
33.3
53
Properties Sold
20
Sales Volume $11,561,000
Properties Pending Sale
Average Days on Market
49
Month’s Supply of Inventory 3
Percent Under Contract
21.7
*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
Nov. 2012
Nov. 2013
%Change
Median Price $1,510,000
$1,506,000
0
24
14
$39,814,184
19
20
-17
111
18
43
-16
4
33
18.0
-29
Properties Sold
21
Sales Volume $33,586,987
Properties Pending Sale
24
Properties For Sale 94
Average Days on Market
51
Month’s Supply of Inventory 3
Percent Under Contract
25.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hollywood
Nov. 2012
Nov. 2013
%Change
Median Price $480,000
$644,000
34
6
-40
$3,319,250
-19
Properties Sold
10
Sales Volume $4,087,000
Properties Pending Sale
4
Properties For Sale 20
Average Days on Market
230
Month’s Supply of Inventory 3
Percent Under Contract
20.0
4
0
20
0
91
-60
3
0
20.0
0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Hollywood Hills East
Nov. 2012
Nov. 2013
%Change
Median Price $910,000
$917,650
1
12
9
$11,035,000
35
6
-60
50
-22
51
-47
6
100
12.0
-49
Properties Sold
11
Sales Volume $8,161,500
Properties Pending Sale
15
Properties For Sale 64
Average Days on Market
97
Month’s Supply of Inventory 3
Percent Under Contract
23.4
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Los Feliz
Nov. 2012
Nov. 2013
%Change
Median Price $905,000
$1,149,000
27
13
-38
$15,009,500
-28
14
-22
85
-21
42
83
4
-20
16.6
-1
Properties Sold
21
Sales Volume $20,721,760
Properties Pending Sale
18
Properties For Sale 108
Average Days on Market
23
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
Malibu
Nov. 2012
Nov. 2013
%Change
Median Price $1,257,500
$1,850,000
47
19
-5
$46,068,430
47
19
46
178
3
112
-35
7
-36
10.7
42
Properties Sold
20
Sales Volume $31,249,000
Properties Pending Sale
13
Properties For Sale 173
Average Days on Market
172
Month’s Supply of Inventory 11
Percent Under Contract
7.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu Beach
Nov. 2012
Nov. 2013
%Change
Median Price $4,800,000
$5,075,000
6
Properties Sold
3
Sales Volume $15,036,645
Properties Pending Sale
5
Properties For Sale 81
Average Days on Market
187
Month’s Supply of Inventory 14
Percent Under Contract
6.2
2
-33
$10,150,000
-32
11
120
70
-14
171
-9
5
-64
15.7
155
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Marina del Rey
Nov. 2012
Nov. 2013
%Change
Median Price $2,085,000
$1,900,000
-9
3
50
$6,500,000
56
2
-50
22
29
40
-64
8
300
9.1
-61
Properties Sold
2
Sales Volume $4,170,000
Properties Pending Sale
4
Properties For Sale 17
Average Days on Market
111
Month’s Supply of Inventory 2
Percent Under Contract
23.5
*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
Nov. 2012
Nov. 2013
%Change
Median Price $288,750
$420,000
45
35
-8
$9,098,000
20
35
6
131
-13
61
2
81
-25
26.7
22
Properties Sold
38
Sales Volume $7,599,5000
Properties Pending Sale
33
Properties For Sale 151
Average Days on Market
60
Month’s Supply of Inventory 108
Percent Under Contract
21.9
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Mid Wilshire
Nov. 2012
Nov. 2013
%Change
Median Price $523,500
$593,500
13
6
50
$1,512,000
278
5
67
19
-42
72
13
2
-78
26.3
189
Properties Sold
4
Sales Volume $400,000
Properties Pending Sale
3
Properties For Sale 39
Average Days on Market
64
Month’s Supply of Inventory 9
Percent Under Contract
9.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Pacific Palisades
Nov. 2012
Nov. 2013
%Change
Median Price $2,155,000
$2,200,000
2
Properties Sold
21
Sales Volume $59,765,500
Properties Pending Sale
19
Properties For Sale 115
Average Days on Market
113
Month’s Supply of Inventory 4
Percent Under Contract
16.5
16
-24
$33,615,000
-44
21
11
115
0
49
-57
3
-25
18.3
11
*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
Nov. 2013
Nov. 2013
%Change
Median Price $812,000
$1,050,000
29
29
-9
$29,615,465
17
26
24
-8
Properties For Sale 71
68
-4
51
24
2
0
35.3
-4
Properties Sold
32
Sales Volume $25,317,182
Properties Pending Sale
Average Days on Market
41
Month’s Supply of Inventory 2
Percent Under Contract
36.6
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Playa Vista
Nov. 2012
Nov. 2013
Median Price $1,100,000
n/a
Properties Sold
1
%Change n/a
0
-100
$0
-100
0
1
100
Properties For Sale 1
2
100
7
n/a
n/a
n/a
50.0
50
Sales Volume $1,100,000
Properties Pending Sale
Average Days on Market
0
Month’s Supply of Inventory n/a
Percent Under Contract
0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Santa Monica
Nov. 2012
Nov. 2013
%Change
Median Price $1,400,000
$2,085,750
49
19
-39
$41,157,838
-28
28
16
-43
Properties For Sale 90
76
-16
23
-23
3
50
21.1
-32
Properties Sold
31
Sales Volume $57,423,310
Properties Pending Sale
Average Days on Market
30
Month’s Supply of Inventory 2
Percent Under Contract
31.1
*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
Nov. 2012
Nov. 2013
%Change
Median Price $620,000
$802,500
29
24
-11
$19,163,778
45
26
4
70
-31
36
-27
2
-33
37.1
50
Properties Sold
27
Sales Volume $13,199,800
Properties Pending Sale
25
Properties For Sale 101
Average Days on Market
49
Month’s Supply of Inventory 3
Percent Under Contract
24.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Sunset Strip - Hollywood Hills West
Nov. 2012
Nov. 2013
%Change
Median Price $1,195,000
$1,390,000
16
31
-21
$53,453,214
-3
28
-28
242
-8
63
0
6
20
11.6
-22
Properties Sold
39
Sales Volume $54,959,500
Properties Pending Sale
39
Properties For Sale 264
Average Days on Market
63
Month’s Supply of Inventory 5
Percent Under Contract
14.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Venice
Nov. 2012
Nov. 2013
%Change
Median Price $1,200,000
$1,250.000
4
Properties Sold
23
18
-22
$28,446,250
-11
19
12
-37
Properties For Sale 71
52
-27
75
47
3
50
23.1
-14
Sales Volume $31,833,900
Properties Pending Sale
Average Days on Market
51
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 Hollywood
Nov. 2012
Nov. 2013
%Change
Median Price $1,260,000
$1,050,000
-17
5
-50
$5,066,000
-60
11
57
57
21
78
81
3
-40
19.3
30
Properties Sold
10
Sales Volume $12,546,000
Properties Pending Sale
7
Properties For Sale 47
Average Days on Market
43
Month’s Supply of Inventory 5
Percent Under Contract
14.9
*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
Nov. 2012
Nov. 2013
%Change
Median Price $577,000
$845,000
46
7
40
$6,134,500
103
8
-11
25
-22
50
108
2
0
32.0
14
Properties Sold
5
Sales Volume $3,018,000
Properties Pending Sale
9
Properties For Sale 32
Average Days on Market
24
Month’s Supply of Inventory 2
Percent Under Contract
28.1
*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
Nov. 2012
Nov. 2013
%Change
Median Price $1,390,000
$1,600,000
15
15
-29
$26,221,500
-18
13
18
38
Properties For Sale 41
49
20
25
-50
1
-50
36.7
16
Properties Sold
21
Sales Volume $32,166,172
Properties Pending Sale
Average Days on Market
50
Month’s Supply of Inventory 2
Percent Under Contract
31.7
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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RODEO REALTY MARKETING DEPARTMENT