Local Market Report August 2016
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
Palms
19
Beverlywood
6
Pacific Palisades
20
Brentwood
7
Playa Vista
21
Cheviot Hills - Rancho Park
8
Santa Monica
22
Culver City
9
Silverlake - Echo Park
23
Hancock Park
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
August 2015
Median Price $2,247,500
Properties Sold
10
Sales Volume $21,010,000
Average Sale Price
$2,101,000
Properties For Sale 96
Average Days on Market
57
Months Supply of Inventory 10
Average List Price
$5,624,760
August 2016 %Change $2,145,000
-5%
13
30%
$28,431,500
35%
$2,187,038
4%
123
28%
109
91%
9
-10%
$5,153,513
-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
August 2015
Median Price $1,339,000
Properties Sold
28
Sales Volume $40,691,013
Average Sale Price
$1,453,250
Properties For Sale 78
Average Days on Market
45
Months Supply of Inventory 3
Average List Price
$1,202,266
August 2016 %Change $1,050,000 28
0%
$35,456,800
-13%
$1,266,314
-13%
91
17%
55
22%
3
0%
$1,822,469
52%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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-22%
Beverly Hills
August 2015
Median Price $1,770,000
Properties Sold
25
Sales Volume $87,557,026
Average Sale Price
$3,502,281
Properties For Sale 125
Average Days on Market
106
Months Supply of Inventory 5
Average List Price
$7,022,581
August 2016 %Change $1,670,500
-6%
18
-28%
$64,045,200
-27%
$3,558,067
2%
146
17%
71
-33%
8
60%
$7,172,023
2%
*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.
August 2015
Median Price $2,895,000
Properties Sold
13
Sales Volume $47,251,562
Average Sale Price
$3,634,736
Properties For Sale 129
Average Days on Market
123
Months Supply of Inventory 10
Average List Price
$3,793,939
August 2016 %Change $3,540,000
22%
16
23%
$45,163,100
-4%
$2,822,694
-22%
132
2%
78
-37%
8
-20%
$5,992,341
58%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverlywood
August 2015
Median Price $2,625,000
Properties Sold
13
Sales Volume $47,251,562
Average Sale Price
$3,634,736
Properties For Sale 129
Average Days on Market
123
Months Supply of Inventory 10
Average List Price
$3,793,939
August 2016 %Change $2,533,300
-3%
16
23%
$45,163,100
-4%
$2,822,694
-22%
132
2%
78
-37%
8
-20%
$5,992,341
58%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Brentwood
August 2015
Median Price $1,835,000
Properties Sold
31
Sales Volume $73,767,513
Average Sale Price
$2,379,597
Properties For Sale 185
Average Days on Market
61
Months Supply of Inventory 6
Average List Price
$2,228,621
August 2016 %Change $1,700,000
-7%
47
52%
$94,177,938
28%
$2,003,786
-16%
156
-16%
57
-7%
3
-50%
$3,125,879
40%
*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
August 2015
Median Price $1,850,000
Properties Sold
9
Sales Volume $17,590,000
Average Sale Price
$1,954,444
Properties For Sale 13
Average Days on Market
30
Months Supply of Inventory 1
Average List Price
$1,699,625
August 2016 %Change $2,640,000
43%
13
44%
$33,048,225
88%
$2,542,171
30%
22
69%
52
73%
2
100%
$1,779,100
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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5%
Culver City
August 2015
Median Price $712,500
Properties Sold
46
Sales Volume $36,569,800
Average Sale Price
$794,996
Properties For Sale 104
Average Days on Market
34
Months Supply of Inventory 2
Average List Price
$833,343
August 2016 %Change $897,500
60%
48
9%
$43,512,969
49%
$906,520
14%
65
-38%
66
94%
1
-50%
$798,872
-4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Hancock Park
August 2015
Median Price $892,500
Properties Sold
38
Sales Volume $49,837,532
Average Sale Price
$1,311,514
Properties For Sale 168
Average Days on Market
64
Months Supply of Inventory 4
Average List Price
$1,430,466
August 2016 %Change $1,230,000
38%
49
29%
$73,643,450
48%
$1,502,928
15%
177
5%
62
-3%
4
0%
$1,703,566
19%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Hollywood
August 2015
Median Price $777,990
Properties Sold
21
Sales Volume $20,844,590
Average Sale Price
$992,600
Properties For Sale 61
Average Days on Market
71
Months Supply of Inventory 3
Average List Price
$818,522
August 2016 %Change $803,000 18
-14%
$18,421,806
-12%
$1,023,434
3%
56
-8%
77
8%
3
0%
$903,811
10%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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3%
Hollywood Hills East
August 2015
Median Price $1,230,000
Properties Sold
20
Sales Volume $25,965,465
Average Sale Price
$1,298,273
Properties For Sale 85
Average Days on Market
77
Months Supply of Inventory 4
Average List Price
$1,192,050
August 2016 %Change $1,340,000 12
-40%
$15,109,000
-42%
$1,259,083
-3%
63
-26%
41
-47%
5
25%
$1,291,862
8%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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9%
Los Feliz
August 2015 Median Price $1,415,000
August 2016 %Change
Properties Sold 34 Sales Volume $53,002,550
24
-29%
$37,832,825
-29%
$1,576,368
1%
Average Sale Price
$1,558,899
Properties For Sale 72
Average Days on Market
57
Months Supply of Inventory 2
Average List Price
$1,838,000
$1,525,000
64
-11%
49
-14%
3
50%
$2,234,618
22%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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8%
Malibu
August 2015
Median Price $1,350,000
Properties Sold
15
Sales Volume $29,298,500
Average Sale Price
$1,953,233
Properties For Sale 230
Average Days on Market
74
Months Supply of Inventory 15
Average List Price
$3,249,048
August 2016 %Change $2,065,000
53%
21
40%
$68,726,102
135%
$3,272,672
68%
186
-19%
115
55%
9
-40%
$3,097,512
-5%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Malibu Beach
August 2015
Median Price $7,495,000
Properties Sold
8
Sales Volume $31,610,000
Average Sale Price
$3,951,250
Properties For Sale 86
Average Days on Market
109
Months Supply of Inventory 11
Average List Price
$7,121,429
August 2016 %Change $7,172,500
-4%
9
13%
$54,936,500
74%
$6,104,056
54%
87
1%
132
21%
10
-9%
$8,406,750
18%
*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
August 2015
Median Price $1,011,000
Properties Sold
27
Sales Volume $34,061,419
Average Sale Price
$1,261,534
Properties For Sale 103
Average Days on Market
78
Months Supply of Inventory 4
Average List Price
$1,205,966
August 2016 %Change $975,000
-4%
29
7%
$31,547,000
-7%
$1,087,828
-14%
118
15%
62
-21%
4
0%
$1,152,745
-4%
*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
August 2015
Median Price $538,500
Properties Sold
38
Sales Volume $21,988,274
Average Sale Price
$578,639
Properties For Sale 101
Average Days on Market
38
Months Supply of Inventory 3
Average List Price
$605,979
August 2016 %Change $620,000
15%
39
3%
$25,921,532
18%
$664,655
15%
92
-9%
48
26%
2
-33%
$666,086
10%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Mid Wilshire
August 2015
Median Price $539,000
Properties Sold
23
Sales Volume $12,940,000
Average Sale Price
$562,609
Properties For Sale 81
Average Days on Market
59
Months Supply of Inventory 4
Average List Price
$661,497
August 2016 %Change $599,900
11%
20
-13%
$11,748,544
-9%
$587,427
4%
77
-5%
61
3%
4
0%
$646,179
-2%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Pacific Palisades
August 2015
Median Price $2,300,000
Properties Sold
30
Sales Volume $90,101,850
Average Sale Price
$3,003,395
Properties For Sale 127
Average Days on Market
56
Months Supply of Inventory 4
Average List Price
$3,038,263
August 2016 %Change $2,575,000
12%
35
17%
$103,072,204
14%
$2,944,920
-2%
137
8%
57
2%
4
0%
$4,352,995
43%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Palms
August 2015
Median Price $1,070,266
Properties Sold
46
Sales Volume $52,262,131
Average Sale Price
$1,136,133
Properties For Sale 73
Average Days on Market
45
Months Supply of Inventory 2
Average List Price
$1,007,867
August 2016 %Change $1,122,500 38
-17%
$44,504,545
-15%
$1,171,172
3%
91
25%
49
9%
2
0%
$1,290,973
28%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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5%
Playa Vista
August 2015
Median Price $1,284,500
Properties Sold
6
Sales Volume $7,269,000
Average Sale Price
$1,211,500
Properties For Sale 12
Average Days on Market
37
Months Supply of Inventory 2
Average List Price
$837,000
August 2016 %Change $875,000
-32%
10
67%
$8,439,000
16%
$843,900
-30%
31
158%
36
-3%
3
50%
$1,127,358
35%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Santa Monica
August 2015
Median Price $1,285,000
Properties Sold
66
Sales Volume $104,759,298
Average Sale Price
$1,587,262
Properties For Sale 175
Average Days on Market
48
Months Supply of Inventory 3
Average List Price
$1,823,345
August 2016 %Change $1,278,261
-1%
53
-20%
$97,847,657
-7%
$1,846,182
16%
176
1%
61
27%
3
0%
$2,659,381
46%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Silverlake - Echo Park
August 2015
Median Price $765,000
Properties Sold
30
Sales Volume $25,813,823
Average Sale Price
$860,461
Properties For Sale 107
Average Days on Market
40
Months Supply of Inventory 4
Average List Price
$811,043
August 2016 %Change $830,000
8%
49
63%
$42,636,795
65%
$870,139
1%
97
-9%
46
15%
2
-50%
$901,578
11%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Sunset Strip - Hollywood Hills West
August 2015
Median Price $765,000
Properties Sold
30
Sales Volume $25,813,823
Average Sale Price
$860,461
Properties For Sale 107
Average Days on Market
40
Months Supply of Inventory 4
August 2016 %Change $830,000
8%
49
63%
$42,636,795
65%
$870,139
1%
97
-9%
46
15%
2
-50%
Average List Price *Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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#DIV/0!
Venice
August 2015
Median Price $1,567,000
Properties Sold
15
Sales Volume $28,391,125
Average Sale Price
$1,892,742
Properties For Sale 90
Average Days on Market
71
Months Supply of Inventory 6
Average List Price
$1,892,742
August 2016 %Change $1,680,000
7%
24
60%
$49,182,816
73%
$2,049,284
8%
93
3%
66
-7%
4
-33%
$2,049,284
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
8%
West Hollywood
August 2015
Median Price $694,000
Properties Sold
46
Sales Volume $41,277,888
Average Sale Price
$897,345
Properties For Sale 137
Average Days on Market
61
Months Supply of Inventory 3
Average List Price
$1,025,937
August 2016 %Change $765,000
10%
51
11%
$51,851,899
26%
$1,016,704
13%
150
9%
46
-25%
3
0%
$1,061,935
4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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West Los Angeles
August 2015
Median Price $870,500
Properties Sold
24
Sales Volume $23,214,744
Average Sale Price
$967,281
Properties For Sale 64
Average Days on Market
43
Months Supply of Inventory 3
Average List Price
$867,548
August 2016 %Change $810,000
-7%
29
21%
$24,858,479
7%
$857,189 66
3%
40
-7%
2
-33%
$935,612
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-11%
8%
Westwood - Century City
August 2015
Median Price $890,000
Properties Sold
78
Sales Volume $102,462,932
Average Sale Price
$1,313,627
Properties For Sale 288
Average Days on Market
57
Months Supply of Inventory 4
Average List Price
$1,387,870
August 2016 %Change $985,500
11%
69
-12%
$92,229,615
-10%
$1,336,661
2%
228
-21%
83
46%
3
-25%
$1,802,162
30%
*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