Local Market Report October 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
October 2015
Median Price $1,337,500
Properties Sold
28
Sales Volume $51,193,640
Average Sale Price
$1,828,344
Properties For Sale 1869
Average Days on Market
October 2016 %Change $900,000
-33%
23
-18%
$121,632,245
138%
$5,288,358
189%
1905
2%
68
55
-19%
Months Supply of Inventory 67
83
24%
$6,834,119
60%
Average List Price
$4,271,502
*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
October 2015
Median Price $750,250
Properties Sold
52
Sales Volume $44,159,264
Average Sale Price
$849,217
Properties For Sale 2857
Average Days on Market
October 2016 %Change $208,750
-72%
58
12%
$42,278,901
-4%
$728,947
-14%
2920
2%
49
43
-12%
Months Supply of Inventory 55
50
-9%
$805,604
25%
Average List Price
$642,751
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills
October 2015
Median Price $615,090
Properties Sold
68
Sales Volume $144,120,990
Average Sale Price
$2,119,426
Properties For Sale 4233
Average Days on Market
October 2016 %Change $995,000
62%
93
37%
$167,592,869
16%
$1,821,662
-14%
4350
3%
85
72
-15%
Months Supply of Inventory 62
47
-24%
$3,452,289
-12%
Average List Price
$3,925,511
*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.
October 2015
Median Price $2,520,000
Properties Sold
22
Sales Volume $94,768,730
Average Sale Price
$4,307,670
Properties For Sale 1952
October 2016 %Change $1,030,000 22
-59% 0%
$41,033,500
-57%
$1,953,976
-55%
2004
3%
75
81
8%
Months Supply of Inventory 89
91
2%
Average Days on Market
Average List Price
$4,022,912
$3,210,846
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-20%
Beverlywood
October 2015
Median Price $697,500
Properties Sold
30
Sales Volume $22,934,880
Average Sale Price
$764,496
Properties For Sale 1578
Average Days on Market
October 2016 %Change $1,045,000
50%
22
-27%
$32,324,910
41%
$1,469,314
92%
1583
0%
61
38
-38%
Months Supply of Inventory 53
72
36%
$923,005
3%
Average List Price
$895,281
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Brentwood
October 2015
Median Price $659,000
Properties Sold
75
Sales Volume $104,079,030
October 2016 %Change $737,500
12%
56
-25%
$104,056,715
0%
$1,858,156
34%
2939
1%
52
58
12%
Months Supply of Inventory 39
52
33%
$2,034,794
16%
Average Sale Price
$1,387,720
Properties For Sale 2923
Average Days on Market
Average List Price
$1,758,403
*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
October 2015
Median Price $6,475
Properties Sold
8
October 2016 %Change $6,750
4%
7
-13%
$3,804,100
-1%
$543,443
13%
666
1%
38
60
58%
Months Supply of Inventory 82
95
16%
$2,054,850
134%
Sales Volume $3,835,300
Average Sale Price
$479,413
Properties For Sale 658
Average Days on Market
Average List Price
$877,959
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Culver City
October 2015
Median Price $535,000
Properties Sold
61
Sales Volume $38,276,140
Average Sale Price
$627,478
October 2016 %Change $529,000
-1%
41
-33%
$26,473,370
-31%
$645,692
3%
1860
1%
37
38
3%
Months Supply of Inventory 30
45
50%
$657,908
3%
Properties For Sale 1848
Average Days on Market
Average List Price
$639,014
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hancock Park
October 2015
Median Price $780,000
October 2016 %Change $939,000
20%
53
-27%
$66,225,874
-10%
$1,249,545
23%
3230
1%
49
46
-6%
Months Supply of Inventory 44
61
39%
$999,951
-12%
Properties Sold
73
Sales Volume $73,197,625
Average Sale Price
$1,016,634
Properties For Sale 3190
Average Days on Market
Average List Price
$1,137,208
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Hollywood
October 2015
Median Price $12,000
Properties Sold
40
Sales Volume $24,337,785
Average Sale Price
$608,445
Properties For Sale 1081
Average Days on Market
October 2016 %Change $579,000 42
4725% 5%
$49,402,905
103%
$1,176,260
93%
1113
3%
76
41
-46%
Months Supply of Inventory 27
27
0%
$537,953
11%
Average List Price
$484,847
*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
October 2015
Median Price $865,000
Properties Sold
21
Sales Volume $19,664,450
Average Sale Price
$936,402
Properties For Sale 1631
Average Days on Market
October 2016 %Change $305,000 21
-65% 0%
$11,250,977
-43%
$535,761
-43%
1640
1%
63
39
-38%
Months Supply of Inventory 78
78
0%
$916,597
4%
Average List Price
$882,947
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Los Feliz
October 2015 Median Price $866,500
October 2016 %Change $985,000
14%
Properties Sold 32 Sales Volume $41,836,650
26
-19%
$31,977,320
-24%
$1,229,897
-6%
1738
2%
Average Sale Price
$1,307,395
Properties For Sale 1712
Average Days on Market
48
41
-15%
Months Supply of Inventory 54
67
24%
$1,445,686
26%
Average List Price
$1,149,956
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu
October 2015
Median Price 353,750
Properties Sold
38
Sales Volume $36,522,289
Average Sale Price
$961,113
Properties For Sale 3789
Average Days on Market
93
Months Supply of Inventory 100
Average List Price
$2,016,000
October 2016 %Change $90,000 40
5%
$47,788,040
31%
$1,194,701
24%
3740
-1%
90
-3%
94
-6%
$2,414,055
20%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-75%
Malibu Beach
October 2015
Median Price $1,330,000
Properties Sold
15
Sales Volume $34,818,404
Average Sale Price
$2,321,227
Properties For Sale 1404
Average Days on Market
111
Months Supply of Inventory 94
Average List Price
$3,206,148
October 2016 %Change $1,478,000
11%
6
-60%
$26,614,500
-24%
$4,435,750
91%
1412
1%
166
50%
235
150%
$3,400,778
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
6%
Marina del Rey
October 2015
Median Price $6,800
October 2016 %Change $8,900
31%
83
9%
$46,689,274
15%
$562,521
5%
1502
1%
43
44
2%
Months Supply of Inventory 20
18
-10%
Properties Sold
76
Sales Volume $40,728,004
Average Sale Price
$535,895
Properties For Sale 1483
Average Days on Market
Average List Price
$599,432
$600,159
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
0%
Mid Los Angeles
October 2015
Median Price $535,000
October 2016 %Change $600,000
12%
73
7%
$47,126,120
15%
$645,563
7%
2044
-1%
73
38
-48%
Months Supply of Inventory 30
28
-7%
$742,449
17%
Properties Sold
68
Sales Volume $40,860,295
Average Sale Price
$600,887
Properties For Sale 2061
Average Days on Market
Average List Price
$636,544
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Mid Wilshire
October 2015
Median Price $577,500
Properties Sold
39
Sales Volume $29,773,850
Average Sale Price
$783,522
Properties For Sale 1623
Average Days on Market
October 2016 %Change $460,000
-20%
52
33%
$20,584,566
-31%
$395,857
-49%
1661
2%
55
40
-27%
Months Supply of Inventory 42
32
-24%
$522,925
-30%
Average List Price
$741,907
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Pacific Palisades
October 2015
Median Price $1,481,500
October 2016 %Change $952,000
-36%
54
29%
$113,516,068
50%
$2,102,149
17%
2517
0%
58
73
26%
Months Supply of Inventory 60
47
-22%
$2,755,401
28%
Properties Sold
42
Sales Volume $75,646,637
Average Sale Price
$1,801,110
Properties For Sale 2505
Average Days on Market
Average List Price
$2,158,622
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Palms
October 2015
Median Price $872,250
Properties Sold
66
October 2016 %Change $870,250
0%
44
-33%
$43,878,305
-25%
$997,234
12%
2913
2%
39
47
21%
Months Supply of Inventory 43
66
53%
$1,183,919
15%
Sales Volume $58,609,337
Average Sale Price
$888,020
Properties For Sale 2868
Average Days on Market
Average List Price
$1,028,449
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Playa Vista
October 2015
Median Price $875,000
Properties Sold
11
Sales Volume $10,468,525
Average Sale Price
$951,684
Properties For Sale 95
Average Days on Market
27
Months Supply of Inventory 9
Average List Price
$557,139
October 2016 %Change $707,000
-19%
20
82%
$11,986,094
14%
$599,305
-37%
123
29%
43
59%
6
-33%
$845,865
52%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Santa Monica
October 2015
Median Price $429,900
Properties Sold
119
Sales Volume $100,609,561
Average Sale Price
$845,458
Properties For Sale 6057
Average Days on Market
October 2016 %Change $10,500
-98%
101
-15%
$83,753,839
-17%
$829,246
-2%
6151
2%
58
46
-21%
Months Supply of Inventory 51
61
20%
$943,161
-15%
Average List Price
$1,105,481
*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
October 2015
Median Price $676,117
October 2016 %Change $787,500
16%
62
-24%
$47,063,075
-10%
$759,082
19%
2616
0%
45
44
-2%
Months Supply of Inventory 32
42
31%
$821,169
-11%
Properties Sold
82
Sales Volume $52,347,866
Average Sale Price
$638,389
Properties For Sale 2617
Average Days on Market
Average List Price
$918,470
*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
October 2015
Median Price $316,000
Properties Sold
73
Sales Volume $93,950,565
Average Sale Price
$1,032,424
Properties For Sale 4917
Average Days on Market
October 2016 %Change $535,250
69%
66
-10%
$56,474,526
-40%
$941,242
-9%
4995
2%
65
52
-20%
Months Supply of Inventory 54
83
54%
$2,024,252
1%
Average List Price
$2,000,736
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Venice
October 2015
Median Price $965,000
Properties Sold
60
October 2016 %Change $996,000
3%
53
-12%
$54,766,265
-8%
$1,033,326
4%
2343
3%
48
44
-8%
Months Supply of Inventory 38
44
16%
$1,405,763
2%
Sales Volume $59,837,075
Average Sale Price
$997,285
Properties For Sale 2271
Average Days on Market
Average List Price
$1,375,141
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Hollywood
October 2015
Median Price $455,000
Properties Sold
75
Sales Volume $43,583,329
Average Sale Price
$581,111
Properties For Sale 2616
Average Days on Market
October 2016 %Change $554,950
22%
68
-9%
$46,660,104
7%
$686,178
18%
2661
2%
51
41
-20%
Months Supply of Inventory 35
39
11%
$557,007
-17%
Average List Price
$671,168
*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
October 2015
Median Price $400,000
Properties Sold
43
Sales Volume $17,316,584
Average Sale Price
$402,711
Properties For Sale 1451
Average Days on Market
October 2016 %Change $637,000
59%
43
0%
$21,297,633
23%
$495,294
23%
1493
3%
40
31
-23%
Months Supply of Inventory 34
35
3%
Average List Price
$692,835
$555,191
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-20%
Westwood - Century City
October 2015
Median Price $525,777
October 2016 %Change $765,000
45%
119
1%
$119,332,280
10%
$1,002,792
8%
5445
0%
58
54
-7%
Months Supply of Inventory 46
46
0%
Properties Sold
118
Sales Volume $108,193,392
Average Sale Price
$924,730
Properties For Sale 5439
Average Days on Market
Average List Price
$992,092
$700,282
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-29%
RODEO REALTY MARKETING DEPARTMENT