Local Market Report April 2014
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
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
Apr. 2013
Apr. 2014
%Change
Median Price $1,895,040
$7,400,000
290
Properties Sold
3
-86
Sales Volume $71,520,468
$22,760,000
-68
Properties Pending Sale
9
-40
Properties For Sale 126
105
-17
Average Days on Market
133
118
Month’s Supply of Inventory 7
9
29
Percent Under Contract
8.6
-28
22
15
61
11.9
*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
Apr. 2013
Apr. 2014
%Change
Median Price $1,185,000
$1,265,000
7
Properties Sold
22
13
-41
$19,231,150
-17
26
17
-35
Properties For Sale 80
59
-26
86
132
2
0
Sales Volume $23,036,825
Properties Pending Sale
Average Days on Market
37
Month’s Supply of Inventory 2
Percent Under Contract
32.5
28.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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-11
Beverly Hills
Apr. 2013
Apr. 2014
%Change
Median Price $4,117,500
$4,157,000
1
18
13
$86,337,751
20
14
-18
92
-15
20
-75
5
0
15.2
-3
Properties Sold
16
Sales Volume $71,872,000
Properties Pending Sale
17
Properties For Sale 108
Average Days on Market
81
Month’s Supply of Inventory 5
Percent Under Contract
15.7
*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.
Apr. 2013
Median Price $2,437,500
Properties Sold
16
Sales Volume $56,525,925
Properties Pending Sale
11
Properties For Sale 110
Average Days on Market
110
Month’s Supply of Inventory 8
Percent Under Contract
10.0
Apr. 2014
%Change
$2,740,000
12
16
0
$64,700,000
14
13
18
123
12
70
-37
7
-13
10.6
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
6
Beverlywood
Apr. 2013
Apr. 2014
%Change
Median Price $699,000
$1,107,000
58
22
29
$24,868,383
101
15
17
13
Properties For Sale 59
63
7
50
100
2
-33
Properties Sold
17
Sales Volume $12,539,875
Properties Pending Sale
Average Days on Market
25
Month’s Supply of Inventory 3
Percent Under Contract
25.4
27.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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6
Brentwood
Apr. 2013
Apr. 2014
%Change
Median Price $1,901,000
$2,200,000
16
15
-35
$46,438,350
-19
21
-32
113
-14
69
92
4
33
18.6
-21
Properties Sold
23
Sales Volume $57,261,585
Properties Pending Sale
31
Properties For Sale 131
Average Days on Market
36
Month’s Supply of Inventory 3
Percent Under Contract
23.7
*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
Apr. 2013
Apr. 2014
%Change
Median Price $1,395,000
$1,285,000
-8
7
-42
$13,225,000
-6
7
-13
19
-27
17
-29
2
0
36.8
20
Properties Sold
12
Sales Volume $14,026,000
Properties Pending Sale
8
Properties For Sale 26
Average Days on Market
24
Month’s Supply of Inventory 2
Percent Under Contract
30.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Culver City
Apr. 2013
Apr. 2014
%Change
Median Price $810,000
$899,000
11
25
67
$20,670,500
109
23
13
-43
Properties For Sale 65
37
-43
26
4
2
0
35.1
-1
Properties Sold
15
Sales Volume $9,911,500
Properties Pending Sale
Average Days on Market
25
Month’s Supply of Inventory 2
Percent Under Contract
35.4
*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
Apr. 2013
Apr. 2014
%Change
Median Price $979,000
$1,210,000
24
21
24
$27,738,547
49
27
13
128
4
42
5
3
-25
Properties Sold
17
Sales Volume $18,247,145
Properties Pending Sale
24
Properties For Sale 123
Average Days on Market
40
Month’s Supply of Inventory 4
Percent Under Contract
19.5
21.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
8
Hollywood
Apr. 2013
Apr. 2014
%Change
Median Price $377,000
$1,040,000
176
5
25
$3,505,000
152
5
-29
37
23
41
-42
5
67
13.5
-42
Properties Sold
4
Sales Volume $1,389,000
Properties Pending Sale
7
Properties For Sale 30
Average Days on Market
71
Month’s Supply of Inventory 3
Percent Under Contract
23.3
*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
Apr. 2013
Apr. 2014
%Change
Median Price $940,000
$1,125,000
20
9
-40
$8,967,630
-51
13
12
-8
Properties For Sale 72
69
-4
48
55
4
0
17.4
-4
Properties Sold
15
Sales Volume $18,312,000
Properties Pending Sale
Average Days on Market
31
Month’s Supply of Inventory 4
Percent Under Contract
18.1
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Los Feliz
Apr. 2013
Apr. 2014
%Change
Median Price $860,000
$1,45,000
72
17
-11
$27,645,955
60
29
26
102
0
31
-46
2
-33
28.4
26
Properties Sold
19
Sales Volume $17,268,535
Properties Pending Sale
23
Properties For Sale 102
Average Days on Market
57
Month’s Supply of Inventory 3
Percent Under Contract
22.5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu
Apr. 2013
Apr. 2014
%Change
Median Price $1,742,000
$2,125,000
22
16
14
$40,412,900
69
12
0
193
-15
98
-27
13
-24
6.2
17
Properties Sold
14
Sales Volume $23,854,000
Properties Pending Sale
12
Properties For Sale 226
Average Days on Market
135
Month’s Supply of Inventory 17
Percent Under Contract
5.3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Malibu Beach
Apr. 2013
Apr. 2014
%Change
Median Price $4,025,000
$3,595,125
-11
2
-60
$7,190,250
-72
2
-33
78
-10
66
-56
35
35
2.6
-26
Properties Sold
5
Sales Volume $25,497,500
Properties Pending Sale
3
Properties For Sale 87
Average Days on Market
149
Month’s Supply of Inventory 26
Percent Under Contract
3.4
*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
Apr. 2013
Apr. 2014
%Change
Median Price $1,892,000
$1,150,000
-39
9
13
$10,836,375
-29
7
133
21
11
31
-81
1
-80
33.3
111
Properties Sold
8
Sales Volume $15,335,000
Properties Pending Sale
3
Properties For Sale 19
Average Days on Market
165
Month’s Supply of Inventory 5
Percent Under Contract
15.8
*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
Apr. 2013
Apr. 2014
%Change
Median Price $337,000
$492,000
46
23
-39
Properties Sold
38
Sales Volume $8,323,000
Properties Pending Sale
36
Properties For Sale 127
Average Days on Market
25
Month’s Supply of Inventory 2
Percent Under Contract
28.3
$8,427,800
1
42
17
137
8
48
92
2
0
30.7
8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Mid Wilshire
Apr. 2013
Apr. 2014
%Change
Median Price $466,250
$695,000
49
3
-25
1,494,000
-26
6
100
26
-13
101
432
3
-57
23.1
131
Properties Sold
4
Sales Volume $2,007,500
Properties Pending Sale
3
Properties For Sale 30
Average Days on Market
19
Month’s Supply of Inventory 7
Percent Under Contract
10.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Pacific Palisades
Apr. 2013
Apr. 2014
%Change
Median Price $2,252,500
$2,472,500
10
24
-20
Properties Sold
30
Sales Volume $84,731,000
Properties Pending Sale
35
Properties For Sale 135
Average Days on Market
68
Month’s Supply of Inventory 3
Percent Under Contract
25.9
$85,613,480
1
33
-6
115
-15
64
-6
2
-33
28.7
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
Apr. 2013
Apr. 2014
%Change
Median Price $862,000
$1,050,000
22
29
-17
$29,401,575
-2
32
26
-19
Properties For Sale 78
69
-12
20
-33
1
0
37.7
-8
Properties Sold
35
Sales Volume $29,882,000
Properties Pending Sale
Average Days on Market
30
Month’s Supply of Inventory 1
Percent Under Contract
41.0
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
Playa Vista
Apr. 2013
Apr. 2014
%Change
Median Price n/a
$1,000,000
n/a
0
1
100
Sales Volume 0
0
0
1
1
0
Properties For Sale 6
5
-17
51
55
4
0
20.0
20
Properties Sold
Properties Pending Sale
Average Days on Market
33
Month’s Supply of Inventory 4
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
Santa Monica
Apr. 2013
Apr. 2014
%Change
Median Price $2,630,000
$2,250,000
-14
21
11
$55,100,812
-11
28
24
-14
Properties For Sale 95
79
-17
43
23
2
0
30.4
3
Properties Sold
19
Sales Volume $61,896,782
Properties Pending Sale
Average Days on Market
35
Month’s Supply of Inventory 2
Percent Under Contract
29.5
*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
Apr. 2013
Apr. 2014
%Change
Median Price $672,417
$775,000
15
29
12
$19,489,780
34
27
35
30
Properties For Sale 90
92
2
31
-9
1
-50
38.0
27
Properties Sold
26
Sales Volume $14,537,350
Properties Pending Sale
Average Days on Market
34
Month’s Supply of Inventory 2
Percent Under Contract
30.0
*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
Apr. 2013
Apr. 2014
%Change
Median Price $1,601,250
$1,631,250
2
Properties Sold
38
Sales Volume $84,008,000
Properties Pending Sale
57
Properties For Sale 266
Average Days on Market
61
Month’s Supply of Inventory 3
Percent Under Contract
21.4
34
-11
$73,734,204
-12
45
-21
254
-5
80
31
4
33
17.7
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
-17.7
Venice
Apr. 2013
Apr. 2014
%Change
Median Price $1,587,500
$1,722,000
8
Properties Sold
16
8
-50
$22,139,000
-16
16
23
44
Properties For Sale 87
59
-32
33
-47
1
-75
39.0
112
Sales Volume $26,479,085
Properties Pending Sale
Average Days on Market
62
Month’s Supply of Inventory 4
Percent Under Contract
18.4
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
West Hollywood
Apr. 2013
Apr. 2014
%Change
Median Price $1,150,000
$1,253,260
9
Properties Sold
17
11
-35
$15,907,839
-16
12
11
-8
Properties For Sale 48
41
-15
27
-18
2
-33
Sales Volume $18,886,600
Properties Pending Sale
Average Days on Market
33
Month’s Supply of Inventory 3
Percent Under Contract
25.0
26.8
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
7
West Los Angeles
Apr. 2013
Apr. 2014
%Change
Median Price $655,000
$891,000
36
8
-38
$7,693,695
16
12
14
17
Properties For Sale 24
35
46
44
69
1
0
Properties Sold
13
Sales Volume $6,620,999
Properties Pending Sale
Average Days on Market
26
Month’s Supply of Inventory 1
Percent Under Contract
50.0
40.0
*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
Apr. 2013
Apr. 2014
%Change
Median Price $1,270,000
$1,615,000
27
14
0
$24,470,000
12
21
16
-24
Properties For Sale 51
57
12
33
-21
2
50
28.1
-32
Properties Sold
14
Sales Volume $21,928,665
Properties Pending Sale
Average Days on Market
42
Month’s Supply of Inventory 1
Percent Under Contract
41.2
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo Realty RodeoRE.com
RODEO REALTY MARKETING DEPARTMENT