Local Market Report May 2015
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
May 2014
Median Price $2,982,147
Properties Sold
16
Sales Volume $96,524,294
Average Sale Price
$6,032,768
Properties For Sale 93
Average Days on Market
89
Months Supply of Inventory 5.81
Average List Price
$5,729,060
May 2015 $2,168,563
-27%
14
-13%
$55,670,065
-42%
$3,976,433
-34%
103
11%
80
-10%
7.36
27%
$4,921,839
-14%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Beverly Center - Miracle Mile
May 2014
Median Price $1,099,000
Properties Sold
29
Sales Volume $35,652,575
Average Sale Price
$1,229,399
Properties For Sale 88
Average Days on Market
57
Months Supply of Inventory 3.03
Average List Price
$1,216,304
May 2015 $1,230,000
12%
24
-17%
$32,679,450
-8%
$1,361,644
11%
64
-27%
41
-28%
2.67
-12%
$1,552,419
28%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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%Change
Beverly Hills
May 2014
Median Price $2,400,000
Properties Sold
33
Sales Volume $135,483,000
Average Sale Price
$4,105,545
Properties For Sale 124
Average Days on Market
66
Months Supply of Inventory 3.76
Average List Price
$3,330,198
May 2015 $2,037,500
-15%
26
-21%
$99,996,000
-26%
$3,846,000
-6%
105
-15%
53
-20%
4.04
7%
$4,880,367
47%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Beverly Hills P.O.
May 2014
Median Price $1,980,000
Properties Sold
15
Sales Volume $32,569,625
Average Sale Price
$2,171,308
Properties For Sale 106
Average Days on Market
100
Months Supply of Inventory 7.07
Average List Price
$2,977,840
May 2015 $2,462,500
24%
12
-20%
$33,526,198
3%
$2,793,850
29%
109
3%
90
-10%
9.08
28%
$6,396,171
115%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Beverlywood
May 2014
May 2015
%Change
Median Price $761,000
$951,000
25%
31
24%
$29,521,513
33%
$952,307
7%
Properties Sold
25
Sales Volume $22,219,500
Average Sale Price
$888,780
Properties For Sale 82
Average Days on Market
65
Months Supply of Inventory 3.28
Average List Price
$1,080,250
50
-39%
44
-32%
1.61
-51%
$1,122,645
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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4%
Brentwood
May 2014
Median Price $1,365,000
Properties Sold
46
Sales Volume $136,518,631
Average Sale Price
$2,967,796
Properties For Sale 169
Average Days on Market
66
Months Supply of Inventory 3.67
Average List Price
$2,508,390
May 2015 $1,902,500
39%
44
-4%
$98,228,376
-28%
$2,232,463
-25%
163
-4%
72
9%
3.7
1%
$2,398,699
-4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Cheviot Hills - Rancho Park
May 2014
Median Price $1,492,500
Properties Sold
8
Sales Volume $12,790,000
Average Sale Price
$1,598,750
Properties For Sale 22
Average Days on Market
31
Months Supply of Inventory 2.75
Average List Price
$2,101,688
May 2015 $2,092,500
40%
8
0%
$17,095,465
34%
$2,136,933
34%
20
-9%
36
16%
2.5
-9%
$2,342,818
11%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Culver City
May 2014
May 2015
%Change
Median Price $529,000
$645,000
22%
43
5%
$30,760,343
23%
$715,357
17%
71
-14%
39
15%
1.65
-18%
$867,210
36%
Properties Sold
41
Sales Volume $25,032,500
Average Sale Price
$610,549
Properties For Sale 83
Average Days on Market
34
Months Supply of Inventory 2.02
Average List Price
$637,198
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Hancock Park
May 2014
May 2015
%Change
Median Price $769,495
$918,000
19%
51
16%
$63,692,400
19%
$1,248,871
3%
Properties Sold
44
Sales Volume $53,453,090
Average Sale Price
$1,214,843
Properties For Sale 176
Average Days on Market
63
Months Supply of Inventory 4
Average List Price
$1,498,061
152
-14%
$52
-17%
2.9
-28%
$1,525,162
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
2%
Hollywood
May 2014
May 2015
%Change
Median Price $555,000
$791,250
43%
10
-47%
$9,144,500
-52%
$914,450
-8%
58
-36%
83
102%
5.8
22%
$788,310
-13%
Properties Sold
19
Sales Volume $18,909,150
Average Sale Price
$995,218
Properties For Sale 90
Average Days on Market
41
Months Supply of Inventory 4.74
Average List Price
$903,820
*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 2014
Median Price $930,000
Properties Sold
17
Sales Volume $16,857,000
Average Sale Price
$991,588
Properties For Sale 73
Average Days on Market
71
Months Supply of Inventory 4.29
Average List Price
$1,191,291
May 2015 $1,200,000
29%
17
0%
$17,511,900
4%
$1,030,112
4%
73
0%
64
-10%
4.29
0%
$1,317,176
11%
*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
May 2014 Median Price $975,000
May 2015 $1,500,000
54%
Properties Sold 30 Sales Volume $37,857,886
18
-40%
$27,776,614
-27%
$1,543,145
22%
66
-24%
50
32%
3.67
27%
$2,042,301
47%
Average Sale Price
$1,261,930
Properties For Sale 87
Average Days on Market
38
Months Supply of Inventory 2.9
Average List Price
$1,391,192
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Malibu
May 2014
Median Price $2,575,000
Properties Sold
210
Sales Volume $55,136,112
Average Sale Price
$2,625,529
Properties For Sale 210
Average Days on Market
178
Months Supply of Inventory 10
Average List Price
$4,133,334
May 2015 $1,467,000
-43%
184
-12%
$42,107,616
-24%
$2,005,125
-24%
184
-12%
115
-35%
8.76
-12%
$3,134,849
-24%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Malibu Beach
May 2014
Median Price $635,000
Properties Sold
3
Sales Volume $11,030,000
Average Sale Price
$3,676,667
Properties For Sale 98
Average Days on Market
169
Months Supply of Inventory 32.67
Average List Price
$10,382,556
May 2015 $4,050,000
538%
4
33%
$15,035,000
36%
$3,758,750
2%
90
-8%
69
-59%
22.5
-31%
$7,770,538
-25%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Marina del Rey
May 2014
May 2015
%Change
Median Price $875,000
$860,000
-2%
33
-23%
$30,391,531
-30%
$920,955
-9%
113
-30%
69
8%
3.42
-9%
$1,218,060
15%
Properties Sold
43
Sales Volume $43,561,300
Average Sale Price
$1,013,053
Properties For Sale 161
Average Days on Market
64
Months Supply of Inventory 3.74
Average List Price
$1,061,112
*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 2014
May 2015
%Change
Median Price $407,000
$463,000
14%
34
-6%
$16,537,500
-8%
$486,397
-3%
95
-23%
54
42%
2.79
-19%
$569,594
12%
Properties Sold
36
Sales Volume $18,060,000
Average Sale Price
$501,667
Properties For Sale 124
Average Days on Market
38
Months Supply of Inventory 3.44
Average List Price
$507,626
*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 2014
May 2015
%Change
Median Price $595,000
$369,000
-38%
15
-29%
$7,797,375
-39%
$519,825
-14%
$56
-46%
61
-22%
3.8
-23%
$659,227
14%
Properties Sold
21
Sales Volume $12,702,000
Average Sale Price
$604,857
Properties For Sale 104
Average Days on Market
78
Months Supply of Inventory 4.95
Average List Price
$579,971
*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 2014
Median Price $2,312,500
Properties Sold
36
Sales Volume $93,998,288
Average Sale Price
$2,611,064
Properties For Sale 125
Average Days on Market
51
Months Supply of Inventory 3.47
Average List Price
$3,069,159
May 2015 $2,762,500
19%
36
0%
$131,146,493
40%
$3,642,958
40%
122
-2%
50
-2%
3.39
-2%
$3,981,655
30%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Palms
May 2014
May 2015
%Change
Median Price $817,500
$990,000
21%
50
19%
$52,258,549
36%
$1,045,171
14%
85
-25%
50
35%
1.7
-37%
Properties Sold
42
Sales Volume $38,503,000
Average Sale Price
$916,738
Properties For Sale 114
Average Days on Market
37
Months Supply of Inventory 2.71
Average List Price
$1,061,098
$1,113,796
*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
May 2014
May 2015
%Change
Median Price $768,750
$845,000
10%
12
50%
$12,818,000
121%
$1,068,167
47%
20
-52%
68
58%
1.67
-68%
$896,267
-3%
Properties Sold
8
Sales Volume $5,804,425
Average Sale Price
$725,553
Properties For Sale 42
Average Days on Market
43
Months Supply of Inventory 5.25
Average List Price
$922,163
*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 2014
Median Price $975,000
Properties Sold
52
Sales Volume $66,962,100
Average Sale Price
$1,287,733
Properties For Sale 215
Average Days on Market
39
Months Supply of Inventory 4.13
Average List Price
$2,154,460
May 2015 $1,309,050
34%
76
46%
$139,285,719
108%
$1,832,707
42%
186
-13%
55
41%
2.45
-41%
$2,070,947
-4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Silverlake - Echo Park
May 2014
May 2015
%Change
Median Price $835,000
$792,285
-5%
35
-10%
$28,893,884
-22%
$825,540
-13%
76
-6%
52
37%
2.11
1%
$823,685
1%
Properties Sold
39
Sales Volume $37,027,988
Average Sale Price
$949,436
Properties For Sale 81
Average Days on Market
38
Months Supply of Inventory 2.08
Average List Price
$813,869
*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
May 2014
Median Price $1,700,000
Properties Sold
45
Sales Volume $95,152,100
Average Sale Price
$2,114,491
Properties For Sale 302
Average Days on Market
85
Months Supply of Inventory 6.71
Average List Price
$2,344,150
May 2015 $1,492,900
-12%
50
11%
$100,909,897
6%
$2,018,198
-5%
265
-12%
80
-6%
5.3
-21%
$2,592,329
11%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
Venice
May 2014
Median Price $1,450,000
Properties Sold
29
Sales Volume $51,292,000
Average Sale Price
$1,768,690
Properties For Sale 82
Average Days on Market
56
Months Supply of Inventory 2.83
Average List Price
$1,556,300
May 2015 $1,907,500
32%
20
-31%
$41,249,060
-20%
$2,062,453
17%
69
-16%
74
32%
3.45
22%
$1,963,145
26%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
%Change
West Hollywood
May 2014
May 2015
%Change
Median Price $635,000
$657,500
4%
47
34%
$40,653,819
41%
$864,975
5%
139
-7%
56
12%
2.96
-31%
$1,142,341
30%
Properties Sold
35
Sales Volume $28,813,213
Average Sale Price
$823,235
Properties For Sale 150
Average Days on Market
50
Months Supply of Inventory 4.29
Average List Price
$881,663
*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 2014
May 2015
%Change
Median Price $745,000
$719,000
-3%
23
-12%
$18,369,500
-4%
$798,674
8%
Properties Sold
26
Sales Volume $19,159,612
Average Sale Price
$736,908
Properties For Sale 91
Average Days on Market
50
Months Supply of Inventory 3.5
Average List Price
$773,591
60
-34%
36
-28%
2.61
-25%
$854,098
10%
*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 2014
May 2015
%Change
Median Price $852,500
$898,000
5%
58
-5%
$77,892,623
-10%
$1,342,976
-5%
245
-18%
80
40%
4.22
-14%
$1,475,330
-3%
Properties Sold
61
Sales Volume $86,280,069
Average Sale Price
$1,414,427
Properties For Sale 299
Average Days on Market
57
Months Supply of Inventory 4.9
Average List Price
$1,521,083
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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