Local Market Report March 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
March 2015
March 2016
%Change
Median Price $2,262,500
$2,107,500
-7%
8
-60%
$23,620,312
-79%
$2,952,539
-47%
101
20%
55
-50%
13
225%
$7,941,000
28%
Properties Sold
20
Sales Volume $112,169,500
Average Sale Price
$5,608,475
Properties For Sale 84
Average Days on Market
109
Months Supply of Inventory 4
Average List Price
$6,223,218
*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
March 2015
March 2016
%Change
Median Price $1,245,000
$1,314,750
6%
Properties Sold
30
Sales Volume $39,487,985
Average Sale Price
$1,316,266
Properties For Sale 63
Average Days on Market
54
Months Supply of Inventory 2
Average List Price
$1,271,117
22
-27%
$29,420,500
-25%
$1,337,295
2%
74
17%
41
-24%
3
50%
$1,444,600
14%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills
March 2015
March 2016
%Change
Median Price $1,690,063
$1,795,000
6%
Properties Sold
44
Sales Volume $118,557,925
Average Sale Price
$2,694,498
Properties For Sale 234
Average Days on Market
84
Months Supply of Inventory 5
Average List Price
$6,423,307
39
-11%
$114,958,800
-3%
$2,947,662
9%
217
-7%
76
-10%
6
20%
$5,890,173
-8%
*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.
March 2015
March 2016
%Change
Median Price $1,400,000
$1,905,000
36%
10
-29%
$20,316,050
-30%
$2,031,605
-2%
93
-18%
82
9%
9
13%
$4,221,412
-12%
Properties Sold
14
Sales Volume $29,071,000
Average Sale Price
$2,076,500
Properties For Sale 114
Average Days on Market
75
Months Supply of Inventory 8
Average List Price
$4,778,882
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverlywood
March 2015
Median Price $825,000
Properties Sold
25
Sales Volume $24,184,500
Average Sale Price
$967,380
Properties For Sale 47
Average Days on Market
59
Months Supply of Inventory 2
Average List Price
$1,045,892
March 2016
%Change
$1,050,000
27%
23
-8%
$27,757,760
15%
$1,206,859
25%
54
15%
53
-10%
2
0%
$1,119,188
7%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Brentwood
March 2015
March 2016
%Change
Median Price $1,150,000
$1,540,000
34%
30
11%
$55,962,702
10%
$1,865,423
-1%
150
3%
73
-26%
5
0%
$3,607,151
19%
Properties Sold
27
Sales Volume $50,759,585
Average Sale Price
$1,879,985
Properties For Sale 145
Average Days on Market
98
Months Supply of Inventory 5
Average List Price
$3,034,347
*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
March 2015
March 2016
%Change
Median Price $1,165,000
$1,697,500
46%
8
167%
$17,534,881
366%
$2,191,860
75%
21
24%
57
-19%
3
-50%
Properties Sold
3
Sales Volume $3,760,000
Average Sale Price
$1,253,333
Properties For Sale 17
Average Days on Market
70
Months Supply of Inventory 6
Average List Price
$2,379,667
$2,435,091
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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2%
Culver City
March 2015
Median Price $650,000
Properties Sold
45
Sales Volume $33,705,755
Average Sale Price
$749,017
Properties For Sale 82
Average Days on Market
60
Months Supply of Inventory 2
Average List Price
$701,582
March 2016 $770,000
18%
28
-38%
$22,957,000
-32%
$819,893
9%
58
-29%
52
-13%
2
0%
$829,288
18%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Hancock Park
March 2015
Median Price $830,000
Properties Sold
29
Sales Volume $29,883,130
Average Sale Price
$1,030,453
Properties For Sale 151
Average Days on Market
49
Months Supply of Inventory 5
Average List Price
$1,318,950
March 2016 $930,000
12%
33
14%
$53,961,150
81%
$1,635,186
59%
160
6%
60
22%
5
0%
$1,442,992
9%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Hollywood
March 2015
Median Price $820,000
Properties Sold
21
Sales Volume $21,079,155
Average Sale Price
$1,003,769
Properties For Sale 57
Average Days on Market
64
Months Supply of Inventory 3
Average List Price
$721,849
March 2016 $683,750
-17%
18
-14%
$15,818,364
-25%
$878,798
-12%
52
-9%
53
-17%
3
0%
$840,931
16%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Hollywood Hills East
March 2015
Median Price $1,026,000
Properties Sold
15
Sales Volume $15,022,721
Average Sale Price
$1,001,515
Properties For Sale 56
Average Days on Market
54
Months Supply of Inventory 4
Average List Price
$1,355,739
March 2016 $942,000
-8%
12
-20%
$11,756,600
-22%
$979,717
-2%
63
13%
47
-13%
5
25%
$1,267,694
-6%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Los Feliz
March 2015 Median Price $900,000
March 2016
%Change
$1,624,500
81%
Properties Sold 21 Sales Volume $23,748,015
24
14%
$49,241,000
107%
$2,051,708
81%
52
-34%
74
1%
2
-50%
$1,440,597
-27%
Average Sale Price
$1,130,858
Properties For Sale 79
Average Days on Market
73
Months Supply of Inventory 4
Average List Price
$1,986,994
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu
March 2015
March 2016
%Change
Median Price $1,950,000
$1,395,000
-28%
25
19%
$47,312,819
10%
$1,892,513
-7%
169
-16%
118
-7%
7
-30%
$5,237,321
72%
Properties Sold
21
Sales Volume $42,901,000
Average Sale Price
$2,042,905
Properties For Sale 200
Average Days on Market
127
Months Supply of Inventory 10
Average List Price
$3,046,202
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Malibu Beach
March 2015
March 2016
%Change
Median Price $3,750,000
$7,300,000
95%
5
67%
$39,900,000
133%
$7,980,000
40%
73
-10%
150
-54%
15
-44%
$8,748,026
19%
Properties Sold
3
Sales Volume $17,132,500
Average Sale Price
$5,710,833
Properties For Sale 81
Average Days on Market
325
Months Supply of Inventory 27
Average List Price
$7,349,577
*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
March 2015
Median Price $849,000
Properties Sold
43
Sales Volume $46,745,723
Average Sale Price
$1,087,110
Properties For Sale 107
Average Days on Market
73
Months Supply of Inventory 2
Average List Price
$974,957
March 2016 $786,000
-7%
19
-56%
$19,405,000
-58%
$1,021,316
-6%
98
-8%
64
-12%
5
150%
$1,341,562
38%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Mid Los Angeles
March 2015
Median Price $450,000
Properties Sold
32
Sales Volume $15,760,400
Average Sale Price
$492,513
Properties For Sale 122
Average Days on Market
58
Months Supply of Inventory 4
Average List Price
$543,788
March 2016 $520,000
16%
33
3%
$20,090,900
27%
$608,815
24%
97
-20%
53
-9%
3
-25%
$603,035
11%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Mid Wilshire
March 2015
Median Price $495,000
Properties Sold
19
Sales Volume $9,501,000
Average Sale Price
$500,053
Properties For Sale 77
Average Days on Market
57
Months Supply of Inventory 4
Average List Price
$619,266
March 2016 $592,000
20%
18
-5%
$10,474,000
10%
$581,889
16%
71
-8%
55
-4%
4
0%
$696,627
12%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Pacific Palisades
June 2015
Median Price $3,198,750
Properties Sold
30
Sales Volume $112,986,960
Average Sale Price
$3,766,232
Properties For Sale 108
Average Days on Market
64
Months Supply of Inventory 4
Average List Price
$4,247,536
June 2016
%Change
$2,600,000
-19%
33
10%
$89,237,528
-21%
$2,704,168
-28%
126
17%
68
6%
4
0%
$3,900,613
-8%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Palms
March 2015
March 2016
%Change
Median Price $1,025,000
$1,219,000
19%
40
21%
$47,388,196
27%
$1,184,705
5%
Properties Sold
33
Sales Volume $37,290,730
Average Sale Price
$1,130,022
Properties For Sale 94
Average Days on Market
49
Months Supply of Inventory 3
Average List Price
$1,115,779
80
-15%
50
2%
2
-33%
$1,258,755
13%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Playa Vista
March 2015
Median Price $785,000
Properties Sold
13
Sales Volume $12,340,000
Average Sale Price
$949,231
Properties For Sale 19
Average Days on Market
53
Months Supply of Inventory 1
Average List Price
$779,281
March 2016 $869,950
11%
14
8%
$13,182,400
7%
$941,600
-1%
25
32%
41
-23%
2
100%
$944,441
21%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Santa Monica
March 2015
March 2016
%Change
Median Price $1,187,750
$1,620,000
36%
53
-15%
$110,797,659
14%
$2,090,522
33%
164
-8%
58
5%
3
0%
$2,375,419
26%
Properties Sold
62
Sales Volume $97,162,079
Average Sale Price
$1,567,130
Properties For Sale 179
Average Days on Market
55
Months Supply of Inventory 3
Average List Price
$1,881,691
*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
March 2015
Median Price $730,000
Properties Sold
35
Sales Volume $30,264,518
Average Sale Price
$864,701
Properties For Sale 74
Average Days on Market
57
Months Supply of Inventory 2
Average List Price
$815,825
March 2016 $960,000
32%
35
0%
$35,750,160
18%
$1,021,433
18%
89
20%
52
-9%
2
0%
$917,236
12%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Sunset Strip - Hollywood Hills West
March 2015
March 2016
%Change
Median Price $1,740,000
$1,445,000
-17%
65
81%
$143,166,477
101%
Properties Sold
36
Sales Volume $71,124,000
Average Sale Price
$1,975,667
Properties For Sale 271
Average Days on Market
96
Months Supply of Inventory 8
Average List Price
$2,476,831
$2,202,561
11%
248
-8%
76
-21%
4
-50%
$2,689,976
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
9%
Venice
March 2015
March 2016
%Change
Median Price $1,585,000
$1,816,500
15%
20
-5%
$35,886,000
-8%
$1,794,300
-3%
72
-4%
58
14%
4
0%
$2,321,355
30%
Properties Sold
21
Sales Volume $39,026,000
Average Sale Price
$1,858,381
Properties For Sale 75
Average Days on Market
51
Months Supply of Inventory 4
Average List Price
$1,790,136
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Hollywood
March 2015
Median Price $730,000
Properties Sold
59
Sales Volume $55,059,749
Average Sale Price
$933,216
Properties For Sale 140
Average Days on Market
67
Months Supply of Inventory 2
Average List Price
$1,043,595
March 2016 $716,000
-2%
49
-17%
$43,320,532
-21%
$884,092
-5%
128
-9%
51
-24%
3
50%
$1,110,464
6%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
West Los Angeles
March 2015
Median Price $747,500
Properties Sold
22
Sales Volume $16,661,500
Average Sale Price
$757,341
Properties For Sale 63
Average Days on Market
66
Months Supply of Inventory 3
Average List Price
$797,568
March 2016 $827,750
11%
16
-27%
$13,681,500
-18%
$855,094
13%
58
-8%
61
-8%
4
33%
$977,559
23%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Westwood - Century City
March 2015
Median Price $753,500
Properties Sold
56
Sales Volume $65,945,538
Average Sale Price
$1,177,599
Properties For Sale 250
Average Days on Market
72
Months Supply of Inventory 4
Average List Price
$1,338,219
March 2016 $915,000
21%
71
27%
$96,370,754
46%
$1,357,335
15%
224
-10%
52
-28%
3
-25%
$1,637,106
22%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
RODEO REALTY MARKETING DEPARTMENT