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Los Angeles Market Report I September 2011

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L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


contents Bel Air + Homby Hills

4

North Hollywood

42

Beverly Center + Miracle Mile Beverly Hills

6

Pacific Palisades

44

8

Palms + Mar Vista

46

Beverly Hills Post Office Beverlywood

10

Playa del Rey

48

12

Playa Vista

50

Brentwood

14

Santa Monica

52

Cheviot Hills + Rancho Park Culver City

16

Sherman Oaks

54

18

Silverlake + Echo Park

56

Downtown LA

20

Studio City

58

Encino

22

60

Hancock Park + Wilshire Hollywood

24

Sunset Strip + Hollywood Hills West Tarzana

26

Toluca Lake

64

Hollywood Hills East

28

Valley Village

66

Los Feliz

30

Venice

68

Malibu

32

West Hollywood

70

Malibu Beach

34

West Los Angeles

72

Marina del Rey

36

Westchester

74

Mid Los Angeles

38

76

Mid Wilshire

40

Westwood + Century City about architecture 8

62

78

15

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Bel Air + Holmby Hills Bel Air/Holmby Hills, California contains some of Los Angeles' largest and most elegant estates with panoramic city and canyon views. The area is rich in landscape, trees and hillsides. Homes are situated in the foothills of the Santa Monica Mountains, just above Sunset Boulevard. The area is located just west of Beverly Hills and about 14 miles from downtown Los Angeles. Along with the multi-million dollar homes of the stars, you'll find affordable custom-built homes towards Mulholland Drive. In May 2011, homes for sale in the Bel Air - Holmby Hills area had a median sale price of 1,622,500 up $15,000 from May 2010 which was significantly less at 26,775,250. In May 2011, 20 homes sold and 40 homes came onto the market. The average number of days on market for sold properties in the Bel Air - Holmby Hills area during May 2011 was 97 days.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Bel Air + Holmby Hills (Single Family)

3rd Quarter Ending 2010 $2,042,154

3rd Quarter Ending 2011 $4,925,916

Percent Change

$584

$931

59.42

Properties Sold

36

43

19.44

Properties Pending Sale

32

34

6.25

Properties For Sale

546

511

-6.41

Sold Average Days on Market

48

84

75.00

24.2

12.5

-48.35

Percent Under Contract

5.73%

6.63%

15.71

Sold Price / Original List Price %

87.03%

77.00%

-11.52

3,478

5,161

48.39

3rd Quarter Ending 2010 N/A

3rd Quarter Ending 2011 $667,500

Percent Change

N/A

$335

N/A

Properties Sold

0

2

N/A

Properties Pending Sale

0

2

N/A

Properties For Sale

5

5

0.00

N/A

76

N/A

0

1.0

N/A

Percent Under Contract

N/A

40.00%

N/A

Sold Price / Original List Price %

N/A

85.50%

N/A

Sold Avg. Square Footage

N/A

1,995

N/A

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

Bel Air + Holmby Hills (Condominium) Sold Median Price Sold Average Price per Square Foot

Sold Average Days on Market Month’s Supply of Inventory

141.21

N/A

Source: Combined Los Angeles/Westside Multiple Listing Service

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Beverly Center + Miracle Mile Located in the heart of Los Angeles, California, the bustling Beverly Center/Miracle Mile area, offers fabulous shopping and dining opportunities. The well-known Beverly Center shopping mall is located in this area - hence, the first part of the area's name. And, the tall buildings along what has long been known as "the Miracle Mile" were home to myriads of doctors' offices - hence, the second part of the area's name. Today, one of the world's foremost medical centers, Cedars-Sinai, is situated in the Beverly Center - Miracle Mile area. Bounded on the north by the famous Melrose Ave., with all of its stores and restaurants, on the east by La Brea Ave., on the west by San Vicente Blvd., and on the south by Pico Blvd., the Beverly Center - Miracle Mile area is sandwiched between the city of Beverly Hills and the Hancock Park area of Los Angeles, and encompasses zip codes 90019, 90035, 90036, and 90048. The area is comprised of both small and large homes, as well as apartment buildings and condominiums. The median sale price of single family homes in the Beverly Center - Miracle Mile area was $840,000 in May 2011, down from $980,000 in April 2011 and from $905,000 in May 2010, 9 homes sold in the area during the month of May 2011, and 35 homes came onto the market during the same period. The average number of days on market for the homes that sold in May 2010 was 70. From January through May 2011, 45 homes sold and 134 came onto the market.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Bev Center + Miracle Mile (Single Family)

3rd Quarter Ending 2010 $1,009,829

3rd Quarter Ending 2011 $1,001,036

Percent Change

$496

$458

-7.66

Properties Sold

41

46

12.20

Properties Pending Sale

37

50

35.14

Properties For Sale

337

301

-10.68

Sold Average Days on Market

35

46

31.43

Month’s Supply of Inventory

7.1

4.0

-43.66

Percent Under Contract

10.97%

16.70%

52.23

Sold Price / Original List Price %

95.07%

93.73%

-1.41

2,008

2,146

6.87

3rd Quarter Ending 2010 $548,715

3rd Quarter Ending 2011 $435,550

Percent Change

$405

$346

-14.57

Properties Sold

50

18

-64.00

Properties Pending Sale

42

16

-61.90

Properties For Sale

129

45

-65.12

Sold Average Days on Market

37

43

16.22

Month’s Supply of Inventory

6.1

4.5

-26.23

Percent Under Contract

32.60%

35.60%

9.20

Sold Price / Original List Price %

94.90%

94.70%

-0.21

1,356

1,256

-7.37

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Beverly Center + Miracle Mile (Condominium) Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

-0.87

-20.62

Source: Combined Los Angeles/Westside Multiple Listing Service

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Beverly Hills The world-renowned city of Beverly Hills covers just 5.69 square miles but houses one of the country's most famous zip codes, 90210. The Beverly Hills real estate scene is also exclusive. From January through May 2011, homes for sale in Beverly Hills had a median price of $2,838,125, and the volume of sales was a whopping $226,469,775, with $29,168,500 of that being sold in May 2011 alone. The average list price of a single family home for sale in the city of Beverly Hills in May 2011 was $3,088,900. With homes in Beverly Hills proper being much in demand, thanks, in part, to an excellent school system, from January through May 2011, 56 homes sold in Beverly Hills, and 148 came onto the market. On average, the homes that sold in Beverly Hills from January through May 2011 were on the market 85 days. Despite the city's reputation for exclusive shopping, hotels, and dining establishments, approximately 90% of Beverly Hills is zoned for residential use. In 2010, approximately 62% of the total residential housing were apartments and condominiums, and 37% were single-family home. According to the City of Beverly Hills, only approximately 18% of the units in multi-family buildings were condominiums and 82% were apartments.

470 Castle Place

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The California Department of Finance reported the total population of the City of Beverly Hills to be 34,290, as of April 1, 2010, up 15 from the year 2000.The 2010 U.S. Census of Population and Housing listed the median age of residents of Beverly Hills as 41.5 years old, and 22.8% of the population is under 19 years of age.


Beverly Hills (Single Family)

3rd Quarter Ending 2010 $4,137,785

3rd Quarter Ending 2011 $4,382,344

Percent Change

$938

$918

-2.13

Properties Sold

49

34

-30.61

Properties Pending Sale

51

36

-29.41

Properties For Sale

538

441

-18.03

Sold Average Days on Market

53

98

84.91

Month’s Supply of Inventory

8.9

9.6

7.87

Percent Under Contract

9.40%

8.17%

-13.09

Sold Price / Original List Price %

88.87%

88.20%

-0.75

4,327

4,417

2.08

3rd Quarter Ending 2010 $1,469,189

3rd Quarter Ending 2011 $1,231,667

Percent Change

$703

$593

-15.65

Properties Sold

15

15

0.00

Properties Pending Sale

19

15

-21.05

Properties For Sale

146

133

-8.90

Sold Average Days on Market

152

86

-43.42

Month’s Supply of Inventory

16.5

15.9

-3.64

Percent Under Contract

13.00%

11.30%

-13.08

Sold Price / Original List Price %

93.10%

91.60%

-1.61

2,091

2,076

-0.72

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Beverly Hills (Condominium) Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

5.91

-16.17

Source: Combined Los Angeles/Westside Multiple Listing Service

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Beverly Hills Post Office Beverly Hills Post Office is the name given to the area just above Beverly Hills proper that is served by the Beverly Hills postal service, but that, in actuality, lies in the city of Los Angeles, and, as such, is served by L.A. city services (fire, police, schools, etc.). Homes in the Beverly Hills Post Office area have just one zip code, which is shared with homes within the city limits of Beverly Hills – 90210. The Beverly Hills Post Office area extends all the way up in the hills and canyons to Mulholland Highway, much of which forms the border between the city and the San Fernando Valley, more commonly known as just "the valley". The BHPO area, as the area is nicknamed, is comprised of everything ranging from tiny homes nestled on narrow winding streets in the canyons to mega mansions topping the verdant hills, and everything in between. Convenient to both the city and the valley, the Beverly Hills Post Office area is sandwiched between the hills of Bel Air and the area known as Sunset Strip Hollywood Hills West. Benedict Canyon and Coldwater Canyon traverse the area, taking commuters from the city to the top of the hills. Coldwater continues "over the hill" to deposit its commuters in Studio City, a popular area of the San Fernando Valley. Although the median sale price of homes in the area was $1,607,500, remarkably and indicative of the vast differences among real estate in the BHPO area, the 12 single family homes that sold in May 2011 range from $545,000 to $22,950,000! These properties were on the market for sale for an average of 137 days, or approximately 4 ½ months, and the total dollar sales volume of the sale of these 12 homes was a healthy $42,058,150!

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Beverly Hills Post Office (Single Family)

3rd Quarter Ending 2010 $2,355,449

3rd Quarter Ending 2011 $3,485,518

Percent Change

$584

$696

19.18

Properties Sold

27

36

33.33

Properties Pending Sale

30

33

10.00

Properties For Sale

578

508

-12.11

Sold Average Days on Market

76

95

25.00

16.2

13.4

-17.28

Percent Under Contract

5.17%

6.43%

24.37

Sold Price / Original List Price %

91.37%

87.33%

-4.42

3,679

4,941

34.30

3rd Quarter Ending 2010 N/A

3rd Quarter Ending 2011 N/A

Percent Change

Sold Average Price per Square Foot

N/A

N/A

N/A

Properties Sold

N/A

N/A

N/A

Properties Pending Sale

N/A

N/A

N/A

Properties For Sale

N/A

N/A

N/A

Sold Average Days on Market

N/A

N/A

N/A

Month’s Supply of Inventory

N/A

N/A

N/A

Percent Under Contract

N/A

N/A

N/A

Sold Price / Original List Price %

N/A

N/A

N/A

Sold Avg. Square Footage

N/A

N/A

N/A

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

Beverly Hills Post Office (Condominium) Sold Median Price

47.98

N/A

Source: Combined Los Angeles/Westside Multiple Listing Service

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Beverlywood The Beverlywood Vicinity area of Los Angeles encompasses zip codes 90034 and 90035. It is bordered by a multitude of areas including Beverly Hills, Beverly Center - Miracle Mile, Cheviot Hills - Rancho Park, Palms - Mar Vista, Culver City, and Mid Los Angeles. Homes in the Beverlywood area are also in close proximity to the Santa Monica Freeway, one of the prime and most heavily traveled thoroughfares in Los Angeles, which stretches from the Pacific Ocean to Downtown Los Angeles and beyond. In May 2011, homes in the Beverlywood vicinity sold at prices ranging from $500,000 to $1,400,000, with the median sale price being $835,000. The average list price of a home in this area was $926,464 in May 2011, and 17 homes sold during this same month.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Beverlywood (Single Family)

3rd Quarter Ending 2010 $937,356

3rd Quarter Ending 2011 $854,711

Percent Change

$439

$462

5.24

Properties Sold

36

42

16.67

Properties Pending Sale

34

39

14.71

Properties For Sale

271

268

-1.11

Sold Average Days on Market

42

43

2.38

Month’s Supply of Inventory

6.5

4.8

-26.15

Percent Under Contract

12.53%

14.53%

15.96

Sold Price / Original List Price %

93.60%

95.23%

1.74

2,132

1,887

-11.49

3rd Quarter Ending 2010 $664,688

3rd Quarter Ending 2011 $666,778

Percent Change

$414

$378

-8.70

Properties Sold

24

9

-62.50

Properties Pending Sale

15

10

-33.33

Properties For Sale

76

41

-46.05

Sold Average Days on Market

122

55

-54.92

Month’s Supply of Inventory

8.6

3.1

-63.95

Percent Under Contract

19.70%

24.40%

23.86

Sold Price / Original List Price %

90.20%

92.40%

2.44

1,620

1,764

8.89

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Beverlywood (Condominium) Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

-8.82

0.31

Source: Combined Los Angeles/Westside Multiple Listing Service

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Brentwood Brentwood is a tiny upscale community on the Westside of Los Angeles, located just to the west of the San Diego (405) Freeway, extending up to Mulholland Dr. on the north and down to Wilshire Blvd. on the south. Bordering on Santa Monica, Brentwood is comprised of houses, restaurants and businesses, and is a highly desired residential suburb, which is home to many celebrities and business moguls. Portions of Brentwood are zoned for horses. Other portions have a very urban feel. Brentwood real estate values have always maintained a steady increase due to the exclusivity of the neighborhood. The famous Getty Museum looks over the city of Brentwood. For January through May 2011, the median sale price of single family homes sold in Brentwood is $2,125,000, with the total dollar sales volume of the 67 homes sold during this period being $196,130,235. Prices for single family homes that sold in May 2011 in the Brentwood area ranged from $800,000 to $6,167,000, with the median sale price being $2,262,500. Average list price of single family homes in Brentwood during May 2011 was $2,933,166. Zip codes in the Brentwood area are 90049 and 90073. Some of the schools in the area include Brentwood Science Magnet, Bellagio Newcomer Center, and Paul Revere Middle School with its Revere Science Magnet.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Brentwood (Single Family)

3rd Quarter Ending 2010 $2,225,942

3rd Quarter Ending 2011 $2,409,420

Percent Change

$691

$679

-1.74

Properties Sold

55

40

-27.27

Properties Pending Sale

46

53

15.22

Properties For Sale

592

475

-19.76

Sold Average Days on Market

66

80

21.21

10.7

7.1

-33.64

Percent Under Contract

7.80%

11.13%

42.69

Sold Price / Original List Price %

90.47%

90.63%

0.18

Sold Avg. Square Footage

3,195

3,362

5.23

Brentwood (Condominium)

3rd Quarter Ending 2010 $663,021

3rd Quarter Ending 2011 $840,356

Percent Change

$417

$431

3.36

Properties Sold

24

35

45.83

Properties Pending Sale

23

39

69.57

Properties For Sale

199

152

-23.62

Sold Average Days on Market

64

56

-12.50

18.0

6.1

-66.11

Percent Under Contract

11.60%

25.70%

121.55

Sold Price / Original List Price %

93.90%

95.10%

1.28

1,591

1,970

23.82

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

8.24

26.75

Source: Combined Los Angeles/Westside Multiple Listing Service

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Cheviot Hills + Rancho Park Located in the heart of Westside Los Angeles, the communities of Cheviot Hills and Rancho Park feature upscale single family homes with spacious lots. In May 2011, the average list price of a single family home was $1,619,000 and the average sale price was $1,548,666. The median sale price in this area was $1,580,000. The two communities are separated by a spacious greenbelt comprising the Cheviot Hills Park and Recreation Center and the Hillcrest Country Club. The area is bounded on the north by Beverly Hills, to the south by Palms and Culver City, and to the west by West Los Angeles. Both communities offer easy access to the 10 and 405 freeways. The area is in close proximity to Westwood, Century City, and Beverly Hills, and a mere 15 minutes from the beach. Shopping is nearby at the popular Westside Pavilion and the elegant Century City Mall with theaters, restaurants and exclusive shops.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Cheviot Hills + Rancho Park (Single Family)

3rd Quarter Ending 2010 $1,223,100

3rd Quarter Ending 2011 $1,273,268

Percent Change

$555

$479

-13.69

Properties Sold

22

22

0.00

Properties Pending Sale

19

29

52.63

Properties For Sale

137

152

10.95

Sold Average Days on Market

46

77

67.39

Month’s Supply of Inventory

6.2

3.5

-43.55

Percent Under Contract

13.77%

18.87%

37.04

Sold Price / Original List Price %

94.00%

87.50%

-6.91

2,363

2,310

-2.24

3rd Quarter Ending 2010 N/A

3rd Quarter Ending 2011 N/A

Percent Change

Sold Average Price per Square Foot

N/A

N/A

N/A

Properties Sold

N/A

N/A

N/A

Properties Pending Sale

N/A

N/A

N/A

1

0

N/A

Sold Average Days on Market

N/A

N/A

N/A

Month’s Supply of Inventory

N/A

N/A

N/A

Percent Under Contract

N/A

N/A

N/A

Sold Price / Original List Price %

N/A

N/A

N/A

Sold Avg. Square Footage

N/A

N/A

N/A

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Cheviot Hills / Rancho Park (Condominium) Sold Median Price

Properties For Sale

4.10

N/A

Source: Combined Los Angeles/Westside Multiple Listing Service

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Culver City Housing in this area of West Los Angeles consists of a mix of single family homes, condominiums, lofts, and residential income properties. In 2007, the median list price was $789,000 and the median sold price was $779,500. Culver City is located at the intersection of the 405 (San Diego) and 10 (Santa Monica) freeways. It is approximately 15 minutes north of Los Angeles International Airport, 15 minutes west of the Marina Del Rey/Pacific Ocean, 20 minutes southeast of Santa Monica, 15 minutes south of Beverly Hills and 20 minutes west of Downtown Los Angeles.

L o s A n g e l e s Ma r k e t R e p o r t I 3 r d Q u a r t e r E n d i n g 2 0 1 1


Culver City (Single Family)

3rd Quarter Ending 2010 $674,335

3rd Quarter Ending 2011 $638,305

Percent Change

$476

$419

-11.97

Properties Sold

36

35

-2.78

Properties Pending Sale

30

45

50.00

Properties For Sale

214

225

5.14

Sold Average Days on Market

36

53

47.22

Month’s Supply of Inventory

5.6

3.3

-41.07

Percent Under Contract

14.03%

20.13%

43.48

Sold Price / Original List Price %

96.67%

94.33%

-2.42

Sold Avg. Square Footage

1,427

1,541

7.99

Culver City (Condominium)

3rd Quarter Ending 2010 $428,136

3rd Quarter Ending 2011 $325,698

Percent Change

$337

$285

-15.43

Properties Sold

44

29

-34.09

Properties Pending Sale

35

41

17.14

Properties For Sale

133

124

-6.77

Sold Average Days on Market

57

66

15.79

Month’s Supply of Inventory

6.9

4.5

-34.78

Percent Under Contract

26.30%

33.10%

25.86

Sold Price / Original List Price %

93.70%

92.60%

-1.17

1,272

1,144

-10.06

Sold Median Price Sold Average Price per Square Foot

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

-5.34

-23.93

Source: Combined Los Angeles/Westside Multiple Listing Service

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Downtown Los Angeles Downtown L.A., the birthplace of Los Angeles, is home to a bustling business district replete with everything from massive skyscrapers to alleys full of tiny stores and markets to the wholesale produce district. It houses cultural centers such as the gorgeous Music Center complex, the Disney Concert Hall, and the Museum of Contemporary Art. Chinatown, Little Tokyo, and Olvera Street are ethnic communities that are just some of the many and diverse multi-cultural areas that comprise Downtown Los Angeles. There are not many single family homes in Downtown Los Angeles, so, in May 2011, only 5 single family homes were sold, with a total dollar sales volume of $776,900. The median sale price for the home sales, which ranged from $105,000 to $265,000, was $147,000, with the average list price being $153,920. The homes that sold were on the market an average of only 20 days, and the average sold price to list price ratio is 100.9%, indicating that on average, homes in the area sold above list price.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Downtown (Single Family)

3rd Quarter Ending 2010 $228,750

3rd Quarter Ending 2011 $157,883

Percent Change

$175

$145

-17.14

Properties Sold

4

6

50.00

Properties Pending Sale

10

5

-50.00

Properties For Sale

54

43

-20.37

Sold Average Days on Market

35

54

54.29

Month’s Supply of Inventory

3.8

5.8

52.63

Percent Under Contract

16.30%

17.93%

10.00

Sold Price / Original List Price %

100.27%

94.53%

-5.72

Sold Avg. Square Footage

1,306

1,085

-16.92

Downtown (Condominium)

3rd Quarter Ending 2010 $430,607

3rd Quarter Ending 2011 $383,699

Percent Change

$384

$366

-4.69

Properties Sold

82

78

-4.88

Properties Pending Sale

69

89

28.99

Properties For Sale

383

254

-33.68

Sold Average Days on Market

64

62

-3.13

11.3

4.4

-61.06

Percent Under Contract

18.00%

35.00%

94.44

Sold Price / Original List Price %

93.90%

94.00%

0.11

1,120

1,049

-6.34

Sold Median Price Sold Average Price per Square Foot

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

-30.98

-10.89

Source: Combined Los Angeles/Westside Multiple Listing Service

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Encino Encino is bordered by Tarzana on the west, the Sepulveda Dam Recreation Area on the north, Sherman Oaks on the east, and the Encino Reservoir of the Los Angeles Department of Water and Power on the south. The district's boundaries are roughly Mulholland Drive on the south, Lindley Avenue on the west, Victory Boulevard on the north, and the San Diego Freeway on the east.[2] Major thoroughfares include Ventura, Magnolia and Burbank Boulevards, as well as White Oak Avenue, Balboa Boulevard, Haskell Avenue and Hayvenhurst Avenue. Area public primary and secondary schools are operated by the Los Angeles Unified School District

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Encino (Single Family)

3rd Quarter Ending 2010 $1,006,000

3rd Quarter Ending 2011 $1,068,200

Percent Change

$368

$364

-1.09

Properties Sold

2

5

150.00

Properties Pending Sale

4

6

50.00

Properties For Sale

63

81

28.57

Sold Average Days on Market

23

45

95.65

15.9

9.1

-42.77

Percent Under Contract

5.67%

9.20%

62.26

Sold Price / Original List Price %

93.93%

92.73%

-1.28

1,724

2,937

70.36

3rd Quarter Ending 2010 $281,580

3rd Quarter Ending 2011 $206,660

Percent Change

$226

$178

-21.24

Properties Sold

5

5

0.00

Properties Pending Sale

3

5

66.67

Properties For Sale

24

24

0.00

Sold Average Days on Market

37

55

48.65

Month’s Supply of Inventory

7.2

6.0

-16.67

Percent Under Contract

12.50%

20.80%

66.40

Sold Price / Original List Price %

93.70%

85.60%

-8.64

1,248

1,162

-6.89

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

Encino (Condominium) Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

6.18

-26.61

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Hancock Park + Wilshire The Hancock Park area of Los Angeles is a long-established neighborhood with many stately mansions, including that of the Mayor of the City of Los Angeles, Getty House, in the Windsor Square area. Enjoying a lengthy and colorful history, according to the Windsor Square – Hancock Park Historical Society, construction of the homes in the Windsor Square and Fremont Place areas began in 1910, and the Hancock Park development started on Rossmore, moving west to Highland in 1921 Hancock Park is home to the quaint shopping district known as Larchmont Village. The area known as Hancock Park – Wilshire is bounded by La Brea Ave. on the west, Melrose Ave. on the north, Western Ave. on the east, and Pico Blvd. on the south 18 homes sold in this area in May 2011 out of the 75 homes in total that sold from January through May 2011, From January through May 2011, single family home sales totaled $106,904,695, up from $91,632,062 in sales for the same time period in 2010. In May 2011, the list price for a single family home in the Hancock Park – Wilshire area averaged $2,233,161, and the sale price averaged $2,117,366. With a wide and varied range of property values typical for the area, sales of individual homes in May 2011 ranged from $600,000 to over ten times that number at $6,075,000, with the median sale price being $1,553,250.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Hancock Park (Single Family)

3rd Quarter Ending 2010 $1,188,323

3rd Quarter Ending 2011 $1,119,288

Percent Change

$431

$443

2.78

Properties Sold

53

55

3.77

Properties Pending Sale

52

69

32.69

Properties For Sale

473

445

-5.92

Sold Average Days on Market

69

52

-24.64

Month’s Supply of Inventory

7.3

4.6

-36.99

Percent Under Contract

11.03%

15.47%

40.25

Sold Price / Original List Price %

91.23%

94.93%

4.06

2,755

2,527

-8.28

3rd Quarter Ending 2010 $423,258

3rd Quarter Ending 2011 $351,200

Percent Change

$316

$301

-4.75

Properties Sold

31

15

-51.61

Properties Pending Sale

21

31

47.62

Properties For Sale

148

137

-7.43

Sold Average Days on Market

93

61

-34.41

17.2

9.3

-45.93

Percent Under Contract

14.20%

22.60%

59.15

Sold Price / Original List Price %

90.60%

91.90%

1.43

1,340

1,192

-11.04

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Hancock Park (Condominium) Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

-5.81

-17.02

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Hollywood The Hollywood area is bounded by Fountain Ave. and Melrose Ave. on the south, Vermont Ave. on the east, Hollywood Blvd. and Franklin Ave. on the north, and Laurel Canyon Blvd. on the west. Hollywood, which is often called the entertainment capital of the world, is home to a myriad of movie theaters, including the famed Grauman's Chinese Theater, with its celebrity handprints and footprints, legitimate theaters, including the Pantages Theater, movie and television studios, hotels, and restaurants. Millions of tourists each year walk down Hollywood Blvd. to see the stars covering the sidewalks of the famed Hollywood Walk of Fame. From January through May 2011, 15 single family homes were sold, with a median sale price of $450,000 and a total dollar sales volume of $7,428,000. Houses that sold during this time period were on the market an average of 50 days. In May 2011, sale prices ranged from$240,000 to $949,000.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Hollywood (Single Family)

3rd Quarter Ending 2010 $531,611

3rd Quarter Ending 2011 $654,083

Percent Change

$380

$501

31.84

Properties Sold

10

6

-40.00

Properties Pending Sale

13

10

-23.08

Properties For Sale

81

83

2.47

Sold Average Days on Market

48

27

-43.75

Month’s Supply of Inventory

9.1

7.2

-20.88

Percent Under Contract

15.33%

12.07%

-21.27

Sold Price / Original List Price %

104.33%

92.07%

-11.75

Sold Avg. Square Footage

1,457

1,347

-7.55

Hollywood (Condominium)

3rd Quarter Ending 2010 $507,942

3rd Quarter Ending 2011 $326,137

Percent Change

$391

$316

-19.18

Properties Sold

26

12

-55.85

Properties Pending Sale

18

16

-11.11

Properties For Sale

122

90

-26.23

Sold Average Days on Market

49

72

46.94

12.2

8.5

-30.33

Percent Under Contract

14.80%

17.80%

20.27

Sold Price / Original List Price %

93.80%

91.10%

-2.88

1,313

1,029

-21.63

Sold Median Price Sold Average Price per Square Foot

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

23.04

-35.79

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Hollywood Hills East The Hollywood Hills East area is bounded on the north by the Los Angeles River, on the west by the Hollywood Freeway, on the east by Canyon Drive, and on the south by Franklin Ave. Many homes in the Hollywood Hills East areas offer city and hillside views. Roads wind their way up into the hills. In May 2011, the average list price for a home was a little over one million dollars at $1,004,112, and the median sold price was $742,500. From January through May 2011, 45 homes sold in the area, for a total sales volume of $43,508,165, down from $51,450,500 for the same period in 2010.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Hollywood Hills East (Single Family)

3rd Quarter Ending 2010 $1,378,801

3rd Quarter Ending 2011 $1,131,415

Percent Change

$537

$448

-16.57

Properties Sold

26

27

3.85

Properties Pending Sale

22

31

40.91

Properties For Sale

333

256

-23.12

Sold Average Days on Market

70

72

2.86

14.4

6.5

-54.86

Percent Under Contract

6.57%

12.00%

82.65

Sold Price / Original List Price %

87.77%

89.40%

1.86

2,383

2,645

10.99

3rd Quarter Ending 2010 $346,180

3rd Quarter Ending 2011 $302,000

Percent Change

$282

$267

-5.32

Properties Sold

5

5

0.00

Properties Pending Sale

6

9

50.00

Properties For Sale

22

24

9.09

Sold Average Days on Market

90

79

-12.22

Month’s Supply of Inventory

7.0

7.2

2.86

Percent Under Contract

27.30%

37.50%

37.36

Sold Price / Original List Price %

89.90%

94.40%

5.01

1,226

1,132

-7.67

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

Hollywood Hills East (Condominium) Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

-17.94

-12.76

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Los Feliz The Los Feliz area, bounded by the Los Angeles River on the north, Canyon Dr. on the west, Franklin Ave. on the southwest, and St. George, Hyperion, and Glendale Avenues on the south east, is bordered by the areas of Burbank, Glendale, Glassell Park, Silver Lake - Echo Park, Hollywood, and Hollywood Hills East. Home to everything from Bohemian cafes and eclectic shops to affluent hilly residential neighborhoods to the Griffith Observatory and the Greek Theater, Los Feliz enjoys a varied cultural flavor. The southern face of Griffith Park borders on Los Feliz, giving the area a rich, verdant feel. The volume of sales in May 2011 totaled $21,506,000, with 19 homes being sold with a median price of $960,000 or $1,015,000. During that same period, homes that sold ranged in price from $265,000 to more than ten times that number, $2,975,000, the broad spectrum of pricing giving a hint of the diverse nature of the neighborhoods comprising the Los Feliz area. In the period from January through May 2011, the average number of days that a house remained on the market before selling was 47.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Los Feliz (Single Family)

3rd Quarter Ending 2010 $1,038,119

3rd Quarter Ending 2011 $1,249,635

Percent Change

$459

$492

7.19

Properties Sold

39

59

51.28

Properties Pending Sale

39

54

38.46

Properties For Sale

319

313

-1.88

Sold Average Days on Market

60

59

-1.67

Month’s Supply of Inventory

6.4

4.4

-31.25

Percent Under Contract

12.20%

17.27%

41.56

Sold Price / Original List Price %

90.23%

85.60%

-5.13

Sold Avg. Square Footage

2,105

2,302

9.36

Los Feliz (Condominium)

3rd Quarter Ending 2010 $318,750

3rd Quarter Ending 2011 $306,028

Percent Change

$340

$298

-12.35

Properties Sold

4

9

125.00

Properties Pending Sale

4

9

125.00

Properties For Sale

32

23

-28.13

Sold Average Days on Market

72

39

-45.83

16.5

3.9

-76.36

Percent Under Contract

12.50%

39.10%

212.80

Sold Price / Original List Price %

84.60%

96.00%

13.48

938

1,025

9.28

Sold Median Price Sold Average Price per Square Foot

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

20.37

-3.99

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Malibu Malibu is perhaps the premier beach community in the United States. Malibu beachfront property is glamorous and highly desired. Malibu is an exclusive community minutes from the bustling city of Los Angeles via the famous and breathtaking Pacific Coast Highway. Malibu is comprised of 22 miles of beaches and 45,000 acres of canyons. This makes Malibu a nature lover's paradise. Homes in the Malibu housing market range upwards into the millions of dollars. In 2011, over the period from January through May, the median sale price for a home was $2,737,500, with the average list price for May 2011 being $3,072,125 and the average sold price for the same month being quite a bit lower at $2,691,250. Malibu is served by the Santa Monica-Malibu Unified School District. The district operates 22 facilities including 11 elementary schools, 4 middle schools and 3 high schools. For more information, visit the Santa Monica-Malibu Unified School District web page at www.smmusd.org.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Malibu (Single Family)

3rd Quarter Ending 2010 $2,214,068

3rd Quarter Ending 2011 $2,422,138

Percent Change

$600

$609

1.50

Properties Sold

36

31

-13.89

Properties Pending Sale

32

33

3.13

Properties For Sale

942

865

-8.17

Sold Average Days on Market

146

163

11.64

Month’s Supply of Inventory

26.6

23.5

-11.65

Percent Under Contract

3.37%

3.77%

11.87

Sold Price / Original List Price %

77.70%

77.97%

0.35

3,756

3,916

4.26

3rd Quarter Ending 2010 $508,500

3rd Quarter Ending 2011 $692,500

Percent Change

$347

$451

29.97

Properties Sold

5

4

-20.00

Properties Pending Sale

4

4

0.00

Properties For Sale

49

41

-16.33

Sold Average Days on Market

39

144

269.23

31.0

21.5

-30.65

Percent Under Contract

8.20%

9.80%

19.51

Sold Price / Original List Price %

87.80%

83.20%

-5.24

1,464

1,536

4.92

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Malibu (Condominium) Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

9.40

36.18

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Malibu Beach Malibu Beach is perhaps the premier beach community in the United States. Malibu Beach beachfront property is glamorous and highly desired. Malibu Beach Beach is an exclusive community minutes from the bustling city of Los Angeles via the famous and breathtaking Pacific Coast Highway. Malibu Beach is comprised of 22 miles of beaches and 45,000 acres of canyons. This makes Malibu Beach a nature lover's paradise. Homes in the Malibu Beach housing market range upwards into the millions of dollars. In 2011, over the period from January through May, the median sale price for a home was $6,562,500, with the average list price for May 2011 being $6,761,666 and the average sold price for the same month being $6,408,500. Malibu Beach is served by the Santa Monica-Malibu Unified School District. The district operates 22 facilities including 11 elementary schools, 4 middle schools and 3 high schools. For more information, visit the Santa Monica Malibu Unified School District web page at www.smmusd.org.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Malibu Beach (Single Family)

3rd Quarter Ending 2010 $9,610,833

3rd Quarter Ending 2011 $5,117,083

Percent Change

$2,469

$1,538

-37.71

Properties Sold

7

8

14.29

Properties Pending Sale

8

7

-12.50

Properties For Sale

315

350

11.11

Sold Average Days on Market

221

118

-46.61

Month’s Supply of Inventory

36.2

56.0

54.70

Percent Under Contract

2.57%

1.97%

-23.35

Sold Price / Original List Price %

78.30%

84.60%

8.05

3,443

2,955

-14.17

3rd Quarter Ending 2010 $755,833

3rd Quarter Ending 2011 $1,291,250

Percent Change

$616

$1,190

93.18

Properties Sold

3

4

33.33

Properties Pending Sale

2

6

200.00

Properties For Sale

39

33

-15.38

Sold Average Days on Market

126

194

53.97

Month’s Supply of Inventory

18.0

3.9

-78.33

Percent Under Contract

5.10%

18.20%

256.86

Sold Price / Original List Price %

82.20%

74.10%

-9.85

1,227

1,143

-6.85

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Malibu Beach (Condominium) Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

-46.76

70.84

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Marina del Rey Marina Del Rey is an upscale community near the magnificent California beaches. The area is home to the world's largest small craft harbor. Marina Del Rey is known for beaches, dining, and some of the best oceanfront in California. This is all in addition to the fact that it is located only fifteen minutes from the Los Angeles Airport, also known colloquially as "LAX". In May 2011, homes in the Marina Del Rey real estate market had an average list price of $1,350,580 and an average sold price of $1,196,800. The median sold price in the month of May 2011 was $990,000, in contrast to $1,700,000 in May 2010, the year before. Over the entire period from January through May 2011, the median sale price was $1,150,000, which was significantly lower than the $1,550,000 median sale price over the same period in 2010. Marina Del Rey is linked to its sister city, Playa Del Rey, by a pedestrian bridge. These seaside communities offer all amenities within walking distance. Residents claim to need little more than a boat for transportation.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Marina del Rey (Single Family)

3rd Quarter Ending 2010 $1,543,833

3rd Quarter Ending 2011 $1,203,250

Percent Change

$656

$481

-26.68

Properties Sold

11

7

-36.36

Properties Pending Sale

11

12

9.09

Properties For Sale

117

122

4.27

Sold Average Days on Market

59

119

101.69

Month’s Supply of Inventory

9.0

8.7

-3.33

Percent Under Contract

9.33%

9.97%

6.86

Sold Price / Original List Price %

93.30%

87.07%

-6.68

2,558

2,397

-6.29

3rd Quarter Ending 2010 $707,171

3rd Quarter Ending 2011 $766,564

Percent Change

$444

$464

4.50

Properties Sold

57

56

-1.75

Properties Pending Sale

63

61

-3.17

Properties For Sale

303

298

-1.65

Sold Average Days on Market

73

62

-15.07

10.9

8.4

-22.94

Percent Under Contract

20.80%

20.50%

-1.44

Sold Price / Original List Price %

95.20%

94.70%

-0.53

1,623

1,675

3.20

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Marina del Rey (Condominium) Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

-22.06

8.40

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Mid Los Angeles The Mid Los Angeles area lies just west of Downtown L.A., south of the Beverly Center – Miracle Mile, Hancock Park – Wilshire, and Mid Wilshire areas, north of the Park Hills Heights and Los Angeles Southwest areas, and east of the Beverlywood and Culver City areas. It is bordered by Pico Blvd. on the north, Hoover St. on the east, Jefferson Blvd. on the south, and Fairfax Ave. on the west. The median price for the 74 homes that sold between January and May 2011 was $297,000, down from the $315,000 median price over the same period in 2010. Sales volume for the January through May 2011 period totaled $24,663,478, also down from $30,506,199 for the same period in 2010. Median sale price for May 2011 was $301,500 or $299,000?, up from $271,000 in April 2011 and from/and down from $300,000 in May 2010.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Mid LA (Single Family)

3rd Quarter Ending 2010 $329,052

3rd Quarter Ending 2011 $360,216

Percent Change

$201

$201

0.00

Properties Sold

43

54

25.58

Properties Pending Sale

37

52

40.54

Properties For Sale

435

307

-29.43

Sold Average Days on Market

53

59

11.32

10.1

4.7

-53.47

Percent Under Contract

8.60%

16.80%

95.35

Sold Price / Original List Price %

93.13%

90.80%

-2.50

1,631

1,801

10.42

3rd Quarter Ending 2010 $347,000

3rd Quarter Ending 2011 $180,000

Percent Change

$311

$163

-47.59

Properties Sold

1

2

100.00

Properties Pending Sale

0

4

N/A

Properties For Sale

8

9

12.50

Sold Average Days on Market

9

20

122.22

Month’s Supply of Inventory

0

2.2

N/A

N/A

44.40%

N/A

93.90%

85.70%

-8.73

1,116

1,106

-0.90

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

Mid LA (Condominium) Sold Median Price Sold Average Price per Square Foot

Percent Under Contract Sold Price / Original List Price % Sold Avg. Square Footage

9.47

-48.13

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Mid Wilshire The area known as Mid-Wilshire is bounded by Pico Blvd. on the south, by Hoover St. on the east, by Melrose Ave. and the Hollywood Freeway. On the north, and by Western Ave. on the west. It shares its boundaries with Hancock Park-Wilshire, Hollywood, Silver Lake / Echo Park, Downtown L.A., and Mid Los Angeles. In May 2011, 2 single family homes were sold in the Mid-Wilshire area out of the 17 homes that sold during the period from January through May. Sales volume over the same January through May 2011 period totaled $8,135,750, up significantly from $5,403,000 over the same period in 2010.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Mid Wilshire (Single Family)

3rd Quarter Ending 2010 $447,583

3rd Quarter Ending 2011 $410,228

Percent Change

$223

$204

-8.52

Properties Sold

10

14

40.00

Properties Pending Sale

8

12

50.00

Properties For Sale

126

69

-45.24

Sold Average Days on Market

66

44

-33.33

14.0

1.8

-87.14

6.30% 82.33%

24.65% 98.33%

291.27 19.43

2,045

2,006

-1.91

3rd Quarter Ending 2010 $429,077

3rd Quarter Ending 2011 $299,197

Percent Change

$283

$262

-7.42

Properties Sold

75

49

-34.67

Properties Pending Sale

44

53

20.45

Properties For Sale

263

232

-11.79

Sold Average Days on Market

61

61

0.00

16.7

22.8

36.53

Percent Under Contract

10.70%

4.70%

-56.07

Sold Price / Original List Price %

96.00%

94.70%

-1.35

1,227

1,138

-7.25

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory Percent Under Contract Sold Price / Original List Price % Sold Avg. Square Footage

Mid Wilshire (Condominium) Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

-8.35

-30.27

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


North Hollywood North Hollywood is the birthplace of California statehood. In January of 1847 Lt. John C. Fremont of the United States and General Andres Pico of Mexico met at the Camp de Cahuenga, now a historical monument across Lankershim Blvd. and signed the treaty to end the war between their two countries. The NoHo Arts District is growing rapidly. With a new North Hollywood police station and plans for much more growth, development and expansion, including $531 million for the CRA project, a LANI project and the downtown Academy project, to name just a few. Development is under way at the Robinson’s-May Valley Plaza regional shopping center and Campo de Cahuenga Historical Educational Center. Business and theatre owners in the Universal City/North Hollywood Chamber of Commerce formed the idea of establishing a theatre and arts district in 1992 with support from L.A. Department of Cultural Affairs. They chose ―NoHo‖ as it not only reveals its location, but also plays off the well-known ―SoHo‖ Arts District of New York City. Central to the new NoHo Arts District, located near Valley Village in North Hollywood, are contemporary theaters, art galleries, cafes, and shops. The area features more than 20 professional theatres producing new work and classics, diverse art galleries, public art and professional dance studios. The district also features the largest concentration of music recording venues west of the Mississippi.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


North Hollywood (Single Family)

3rd Quarter Ending 2010 $351,521

3rd Quarter Ending 2011 $283,556

Percent Change

$226

$246

8.85

Properties Sold

22

14

-36.36

Properties Pending Sale

15

20

33.33

Properties For Sale

143

92

-35.66

Sold Average Days on Market

65

50

-23.08

Month’s Supply of Inventory

8.3

3.2

-61.45

Percent Under Contract

10.50%

21.77%

107.33

Sold Price / Original List Price %

96.47%

96.23%

-0.25

1,547

1,160

-25.02

3rd Quarter Ending 2010 $317,831

3rd Quarter Ending 2011 $294,500

Percent Change

$232

$239

3.02

Properties Sold

15

4

-73.33

Properties Pending Sale

10

4

-60.00

Properties For Sale

43

32

-25.58

Sold Average Days on Market

34

74

117.65

12.5

10.4

-16.80

Percent Under Contract

23.30%

12.50%

-46.35

Sold Price / Original List Price %

95.10%

94.50%

-0.63

1,370

1,.231

-10.15

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

North Hollywood (Condominium) Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

-19.33

-7.34

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Pacific Palisades Flanked by the Santa Monica mountain range and bordered by the Pacific Ocean, this paradise is the ideal location for the discriminating home buyer. For the period from January through May 2011, the median price of the 92 homes sold was $1,703,750 and dollar sales volume totaled a whopping $196,901,025. Over the same period in 2010, the median price was $1,866,250 and the total dollar sales volume was $224,835,292. The average list price during the month of May 2011 for a home in what is commonly known as "the Palisades" was $1,993,408, and the average selling price was just slightly lower at $1,928,129. In contrast, the median sold price for the same month of May 2011 was $1,627,500. Pacific Palisades lies between the beach communities of Malibu and Santa Monica. Homeowners in Pacific Palisades enjoy a small town atmosphere that is prevalent in the community. Very family-oriented, this city is known for several popular family events. The Pacific Palisades area is known for the quality of its public and private schools. A sample of schools to be found in the area is listed below according to zip code:

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Pacific Palisades (Single Family)

3rd Quarter Ending 2010 $2,356,941

3rd Quarter Ending 2011 $2,070,778

Percent Change

$676

$654

-3.25

Properties Sold

64

67

4.69

Properties Pending Sale

54

70

29.63

Properties For Sale

638

575

-9.87

Sold Average Days on Market

81

56

-30.86

10.2

6.3

-38.24

Percent Under Contract

8.47%

12.07%

42.50

Sold Price / Original List Price %

87.43%

93.53%

6.98

3,510

3,011

-14.22

3rd Quarter Ending 2010 $799,456

3rd Quarter Ending 2011 $637,111

Percent Change

$411

$364

-11.44

Properties Sold

9

9

0.00

Properties Pending Sale

6

13

116.67

Properties For Sale

57

63

10.53

Sold Average Days on Market

43

151

251.16

21.2

8.8

-58.49

Percent Under Contract

10.50%

20.60%

96.19

Sold Price / Original List Price %

93.60%

86.30%

-7.80

1,945

1,751

-9.97

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

Pacific Palisades (Condominium) Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

-12.14

-20.31

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Palms + Mar Vista Palms - Mar Vista is the hub of West Los Angeles. Located south of Santa Monica and north of Culver City, it is minutes from the ocean and close to the campus of UCLA. In May 2011, the average list price of a single family home in the area was $797,169 and the average sale price was $782,987, in contrast to the median sale price of $719,000. Homes sold ranged in price from $450,000 to $1,685,000. Palms - Mar Vista is served by the Los Angeles Unified School District.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Palms – Mar Vista (Single Family)

3rd Quarter Ending 2010 $901,773

3rd Quarter Ending 2011 $793,242

Percent Change

$448

$489

9.15

Properties Sold

57

83

45.61

Properties Pending Sale

57

84

47.37

Properties For Sale

451

415

-7.98

Sold Average Days on Market

45

40

-11.11

Month’s Supply of Inventory

6.4

3.4

-46.88

Percent Under Contract

12.60%

20.17%

60.08

Sold Price / Original List Price %

95.03%

95.73%

0.74

2,033

1,630

-19.82

3rd Quarter Ending 2010 $403,789

3rd Quarter Ending 2011 $378,200

Percent Change

$344

$315

-8.43

Properties Sold

9

22

144.44

Properties Pending Sale

10

21

110.00

Properties For Sale

78

84

7.69

Sold Average Days on Market

60

48

-20.00

17.7

5.7

-67.80

Percent Under Contract

12.80%

25.00%

95.31

Sold Price / Original List Price %

92.50%

95.70%

3.46

1,174

1,202

2.39

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Palms + Mar Vista (Condominium) Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

-12.04

-6.34

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Playa del Rey Located near the magnificent California beaches Playa del Rey was once inhabited by the Gabrielino Indians. Playa del Rey is well known for beachfront dining and some of the best oceanfront views in California. This is all in addition to the fact that it is located only fifteen minutes from LAX. Linked to its sister city Marina Del Rey by a pedestrian bridge, this seaside community offers all its amenities within walking distance. Your own means of transportation is entirely optional in this community.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Playa del Rey (Single Family)

3rd Quarter Ending 2010 $1,061,806

3rd Quarter Ending 2011 $1,052,875

Percent Change

$373

$400

7.24

Properties Sold

10

10

0.00

Properties Pending Sale

7

10

42.86

Properties For Sale

102

75

-26.47

Sold Average Days on Market

77

47

-38.96

Month’s Supply of Inventory

5.7

5.6

-1.75

Percent Under Contract

9.70%

13.37%

37.84

Sold Price / Original List Price %

92.80%

91.93%

-0.94

2,841

2,742

-3.48

3rd Quarter Ending 2010 $444,550

3rd Quarter Ending 2011 $408,723

Percent Change

$360

$343

-4.72

Properties Sold

18

23

22.22

Properties Pending Sale

14

23

64.29

Properties For Sale

72

92

27.78

Sold Average Days on Market

59

47

-20.34

10.7

6.7

-37.38

Percent Under Contract

19.40%

25.00%

28.87

Sold Price / Original List Price %

93.90%

93.70%

-0.21

1,234

1,191

-3.48

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Playa del Rey (Condominium) Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

-0.84

-8.06

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Playa Vista Housing in Playa Vista, the first new community to be established on the Westside of Los Angeles in fifty years, is comprised primarily of condominiums, but there are also a number of single family homes. The area lies below the bluffs of Westchester, adjacent to Playa Del Rey, Marina Del Rey, and, on its easternmost border, to Culver City. Median sale price for single family homes during the period from January through May 2011 was $1,975,500, down from $2,015,300 for the same period in 2010. Because condominiums are the predominant form of housing in Playa Vista, only 1 single family home sold during the month of May 2011, and only 2 in total sold for the period from January through May 2011.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Playa Vista (Single Family)

3rd Quarter Ending 2010 $1,050,000

3rd Quarter Ending 2011 $1,028,833

Percent Change

$276

$322

16.67

Properties Sold

1

3

200.00

Properties Pending Sale

2

5

150.00

Properties For Sale

9

9

0.00

Sold Average Days on Market

56

37

-33.93

Month’s Supply of Inventory

2

2

0.00

Percent Under Contract

22.20%

55.60%

150.45

Sold Price / Original List Price %

92.10%

93.00%

0.98

Sold Avg. Square Footage

3,800

3,193

-15.97

Playa Vista (Condominium)

3rd Quarter Ending 2010 $564,253

3rd Quarter Ending 2011 $511,991

Percent Change

$347

$354

2.02

Properties Sold

15

16

6.67

Properties Pending Sale

19

16

-15.79

Properties For Sale

57

51

-10.53

Sold Average Days on Market

56

59

5.36

Month’s Supply of Inventory

5.3

4.0

-24.53

Percent Under Contract

33.30%

31.40%

-5.71

Sold Price / Original List Price %

96.60%

95.50%

-1.14

1,585

1,445

-8.83

Sold Median Price Sold Average Price per Square Foot

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

-2.01

-9.26

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Santa Monica Charming Santa Monica is the premier beach community in the Los Angeles area. Known for its ocean pier and art community, Santa Monica real estate is highly desired. The area has a reputation as being quiet and restful with less smog and traffic, making it a desirable location for those seeking an outdoor lifestyle. The city has 23 parks and 2 swimming pool facilities. In the highlycompetitive Santa Monica real estate market homes for sale are hot commodities. For the period from January through May 2011, the median sale price was $1,385,000, down significantly from $1,638,000 over the same period in 2010. In May 2011, the median sale price was $1,589,375 or $1,623,750?, and the average list price was $2,541,041 compared to the average selling price of $2,442,937. Santa Monica has an estimated population of 89,736, according to the 2010 census. The city is served by the Santa MonicaMalibu Unified School District. The district operates 22 facilities including 11 elementary schools, 4 middle schools, and 3 high schools. For more information, visit the Santa Monica-Malibu Unified School District web page at www.smmusd.org.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Santa Monica (Single Family)

3rd Quarter Ending 2010 $1,949,766

3rd Quarter Ending 2011 $1,840,817

Percent Change

$765

$709

-7.32

Properties Sold

67

71

5.97

Properties Pending Sale

71

56

-21.13

Properties For Sale

239

210

-12.13

Sold Average Days on Market

55

52

-5.45

Month’s Supply of Inventory

5.6

5.7

1.79

Percent Under Contract

29.70%

26.70%

-10.10

Sold Price / Original List Price %

91.60%

94.00%

2.62

2,592

2,417

-6.75

3rd Quarter Ending 2010 $780,870

3rd Quarter Ending 2011 $774,018

Percent Change

Sold Average Price per Square Foot

$559

$558

-0.18

Properties Sold

101

82

-18.81

Properties Pending Sale

83

82

-1.20

Properties For Sale

423

321

-24.11

Sold Average Days on Market

64

89

39.06

Month’s Supply of Inventory

8.7

5.7

-34.48

Percent Under Contract

19.60%

25.50%

30.10

Sold Price / Original List Price %

94.10%

90.30%

-4.04

1,390

1,394

0.29

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Santa Monica (Condominium) Sold Median Price

Sold Avg. Square Footage

-5.59

-0.88

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Sherman Oaks Sherman Oaks is an affluent 8.1-square-mile district in the San Fernando Valley area of Los Angeles. In contrast to much of the Valley, the area is relatively urbanized, with commercial skyscrapers along Ventura Boulevard as well as scattered throughout. In addition, residential densities are highly mixed, with apartment and condominium neighborhoods alongside singlestory residential ones. The area is a local hub for regional transportation, business, and shopping. The neighborhood is roughly bounded by Studio City to the east, Van Nuys to the north, Encino to the west, Bel Air and Beverly Hills Post Office to the south. Sherman Oaks' primary and secondary public schools are part of the Los Angeles Unified School District.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Sherman Oaks (Single Family)

3rd Quarter Ending 2010 $911,083

3rd Quarter Ending 2011 $884,765

Percent Change

$394

$354

-10.15

Properties Sold

36

51

41.67

Properties Pending Sale

37

48

29.73

Properties For Sale

169

131

-22.49

Sold Average Days on Market

57

49

-14.04

Month’s Supply of Inventory

8.0

3.5

-56.25

Percent Under Contract

21.90%

36.60%

67.12

Sold Price / Original List Price %

92.80%

90.40%

-2.59

2,311

2,492

7.83

3rd Quarter Ending 2010 $424,018

3rd Quarter Ending 2011 $300,182

Percent Change

$282

$235

-16.67

Properties Sold

16

11

-31.25

Properties Pending Sale

9

10

11.11

Properties For Sale

50

51

2.00

Sold Average Days on Market

68

82

20.59

11.4

4.3

-62.28

Percent Under Contract

18.00%

19.60%

8.89

Sold Price / Original List Price %

96.60%

91.40%

-5.38

1,503

1,278

-14.97

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Sherman Oaks (Condominium) Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

-2.89

-29.21

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Silverlake + Echo Park This is one of the oldest sections of the city with an energetic mix of gay and Latino cultures reflected in the eclectic shops along Sunset Blvd just east of where Santa Monica Blvd terminates at Sunset. There is certainly nothing cookie-cutter about Silver Lake, CA — it’s as diverse as the people living in it. Silver Lake is home to many artists, writers and musicians, like Beck and the late Elliot Smith, just to name a few. Thanks to its neighborhood feel, Silver Lake is the perfect area for young people looking for an eclectic spot, diverse families seeking out good schools and a community vibe, and gay couples who were some of the first to gentrify the area. Silver Lake is continually growing — with an ever-increasing mix of stylish boutiques, restaurants, bars, coffee shops and everything in-between. But it’s managed to hold on to its unique charm.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Silverlake + Echo Park (Single Family)

3rd Quarter Ending 2010 $611,229

3rd Quarter Ending 2011 $713,642

Percent Change

$430

$403

-6.28

Properties Sold

40

53

32.50

Properties Pending Sale

48

58

20.83

Properties For Sale

149

163

9.40

Sold Average Days on Market

24

37

54.17

Month’s Supply of Inventory

4.8

3.7

-22.92

Percent Under Contract

32.20%

35.60%

10.56

Sold Price / Original List Price %

98.60%

95.00%

-3.65

1,441

1,777

23.32

3rd Quarter Ending 2010 $475,225

3rd Quarter Ending 2011 $319,475

Percent Change

$337

$276

-18.10

Properties Sold

10

8

-20.00

Properties Pending Sale

6

8

33.33

Properties For Sale

25

31

24.00

Sold Average Days on Market

46

57

23.91

Month’s Supply of Inventory

3.1

9.7

212.90

Percent Under Contract

24.00%

25.80%

7.50

Sold Price / Original List Price %

93.60%

94.00%

0.43

1,375

1,157

-15.85

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Silverlake + Echo Park (Condominium) Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

16.76

-32.77

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Studio City Once the home of the Motion Picture industry, it is now an up and coming area for hipsters looking to escape the crowds of Hollywood. You can find nice restaurants, bars, and excellent shopping. The Studio City Recreation Center (also known as Beeman Park) is in Studio City. It has an auditorium, barbecue pits, a lighted baseball diamond, lighted outdoor basketball courts, a children’s play area, picnic tables, unlighted tennis courts, and many programs and classes including the second-largest youth baseball program in the public parks. Moorpark Park, an unstaffed pocket park in Studio City, has a children’s play area and picnic tables. Woodbridge Park on the eastern border of Studio City with a children and toddler’s play area. Wilacre Park, an unstaffed park, is in Studio City. In addition, Studio City has the Studio City Mini-Park, an unstaffed pocket park.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Studio City (Single Family)

3rd Quarter Ending 2010 $1,033,022

3rd Quarter Ending 2011 $1,226,591

Percent Change

$405

$451

11.36

Properties Sold

23

24

4.35

Properties Pending Sale

15

18

20.00

Properties For Sale

110

103

-6.36

Sold Average Days on Market

61

51

-16.39

17.1

10.4

-39.18

Percent Under Contract

13.60%

17.50%

28.68

Sold Price / Original List Price %

92.10%

93.70%

1.74

Sold Avg. Square Footage

2,553

2,721

6.58

Studio City (Condominium)

3rd Quarter Ending 2010 $498,038

3rd Quarter Ending 2011 $407,625

Percent Change

$318

$290

-8.81

Properties Sold

13

8

-38.46

Properties Pending Sale

12

13

-8.33

Properties For Sale

62

51

-17.74

Sold Average Days on Market

100

88

-12.00

Month’s Supply of Inventory

16.2

5.7

-64.81

Percent Under Contract

19.40%

25.50%

31.44

Sold Price / Original List Price %

97.10%

84.70%

-12.77

1,568

1,408

-10.20

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

18.74

-18.15

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Sunset Strip + Hollywood Hills West The Sunset Strip - Hollywood Hills West area is perhaps the most famous neighborhood in Los Angeles. Home to both active nightlife and lovely residential neighborhoods, the Sunset Strip Hollywood Hills West area evokes the old glamour of Hollywood. A home to art deco hotels and celebrity hangouts, all the amenities are close at hand. Over the period from January through May 2011, the median sale price was $1,207,500, and the sales volume for this area was a huge $221,617,300, up just slightly from $220,543,821 in 2010. Considered part of the arty West Hollywood area, the home buyer will find unique and historical architecture and beautiful houses. The zip code that serves the area is 90046. The area is served by the Los Angeles Unified School District. Some of the schools that serve Sunset Strip are Wonderland Gifted, Gardner Elementary, and Fairfax Magnet.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Sunset Strip / HH West (Single Family)

3rd Quarter Ending 2010 $1,537,453

3rd Quarter Ending 2011 $1,498,102

Percent Change

$601

$576

-4.16

Properties Sold

68

71

4.41

Properties Pending Sale

81

75

-7.41

Properties For Sale

538

409

-23.98

Sold Average Days on Market

64

74

15.63

12.6

9.7

-23.02

Percent Under Contract

15.10%

18.30%

21.19

Sold Price / Original List Price %

87.10%

89.80%

3.10

2,385

2,640

10.69

3rd Quarter Ending 2010 $648,309

3rd Quarter Ending 2011 $742,144

Percent Change

$509

$615

20.83

Properties Sold

11

19

72.73

Properties Pending Sale

16

18

12.50

Properties For Sale

95

62

-34.74

Sold Average Days on Market

60

123

105.00

12.3

5.9

-52.03

Percent Under Contract

16.80%

29.00%

72.62

Sold Price / Original List Price %

87.30%

86.20%

-1.26

1,274

1,207

-5.26

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

Sunset Strip / HH West (Condominium) Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

-2.56

14.47

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Tarzana Tarzana is a district in the San Fernando Valley region of Los Angeles. The neighborhood is located on the site of a former ranch owned by author Edgar Rice Burroughs, who named it Tarzana after his jungle hero character Tarzan. Tarzana is surrounded by Reseda to the north, Woodland Hills to the west, Encino to the east, and the Santa Monica Mountains (also a part of Los Angeles) to the south. Most of Tarzana's inhabitants live in the foothills of the Santa Monica Mountains south of Ventura Boulevard. South of Ventura Boulevard also contains two golf courses: El Caballero Country Club and Braemar Country Club. North of the Ventura Boulevard, where a smaller portion of the population lives, there are fewer houses and more apartment buildings. Tarzana extends north to Victory Boulevard, encompassing a wide swath of medium-density housing.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Tarzana (Single Family)

3rd Quarter Ending 2010 $675,267

3rd Quarter Ending 2011 $970,824

Percent Change

$345

$280

-18.84

Properties Sold

6

17

183.33

Properties Pending Sale

6

18

200.00

Properties For Sale

55

69

25.45

Sold Average Days on Market

30

109

263.33

32.1

5.5

-82.87

Percent Under Contract

10.90%

26.10%

139.45

Sold Price / Original List Price %

99.90%

87.10%

-12.81

1,956

3,472

77.51

3rd Quarter Ending 2010 $450,000

3rd Quarter Ending 2011 $160,000

Percent Change

$181

$170

-6.08

Properties Sold

1

3

200.00

Properties Pending Sale

1

5

400.00

Properties For Sale

19

22

15.79

Sold Average Days on Market

13

90

592.31

Month’s Supply of Inventory

4.3

7.8

81.40

5.30%

22.70%

328.30

100.20%

90.90%

-9.28

2,492

940

-62.28

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

Tarzana (Condominium) Sold Median Price Sold Average Price per Square Foot

Percent Under Contract Sold Price / Original List Price % Sold Avg. Square Footage

43.77

-64.44

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Toluca Lake Toluca Lake is a district north of downtown Los Angeles and a "community within two communities, North Hollywood and Burbank". Toluca Lake started out as Forman Toluca Ranch, a ranch known for its crops of peaches, apples and walnuts, but after development is currently home to affluent residents, many of whom work as part of nearby Hollywood's film industry.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Toluca Lake (Single Family)

3rd Quarter Ending 2010 $1,097,500

3rd Quarter Ending 2011 $775,000

Percent Change

$501

$376

-24.95

Properties Sold

4

1

-75.00

Properties Pending Sale

3

5

66.67

Properties For Sale

23

26

13.04

Sold Average Days on Market

30

36

20.00

Month’s Supply of Inventory

7.0

5.5

-21.43

Percent Under Contract

13.00%

19.20%

47.69

Sold Price / Original List Price %

95.50%

90.20%

-5.55

2,189

2,062

-5.80

3rd Quarter Ending 2010 N/A

3rd Quarter Ending 2011 $379,780

Percent Change

N/A

$257

N/A

Properties Sold

0

5

N/A

Properties Pending Sale

1

7

600.00

Properties For Sale

5

17

240.00

N/A

46

N/A

1

2.6

160.00

20.00%

41.20%

106.00

Sold Price / Original List Price %

N/A

94.10%

N/A

Sold Avg. Square Footage

N/A

1,475

N/A

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Toluca Lake (Condominium) Sold Median Price Sold Average Price per Square Foot

Sold Average Days on Market Month’s Supply of Inventory Percent Under Contract

-29.38

N/A

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Valley Village Valley Village is a district located in the San Fernando Valley region of Los Angeles, north of Studio City, west and south of North Hollywood, and east of Sherman Oaks. Approximately 22,000 residents live within the boundaries of Valley Village, which consists mostly of single family homes and small shops and businesses. Valley Village is bordered by the Ventura Freeway to the south, the Hollywood Freeway to the east, the Tujunga Wash to the west, and Burbank Boulevard to the north. Residents of the neighborhood attend school in the Los Angeles Unified School District

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Valley Village (Single Family)

3rd Quarter Ending 2010 $524,000

3rd Quarter Ending 2011 $496,667

Percent Change

$251

$253

0.80

Properties Sold

1

6

500.00

Properties Pending Sale

3

8

166.67

Properties For Sale

25

31

24.00

Sold Average Days on Market

36

39

8.33

13.3

4.3

-67.67

Percent Under Contract

12.00%

25.80%

115.00

Sold Price / Original List Price %

95.30%

88.70%

-6.93

2,084

1,962

-5.85

3rd Quarter Ending 2010 $380,000

3rd Quarter Ending 2011 $307,500

Percent Change

$272

$224

-17.65

Properties Sold

1

2

100.00

Properties Pending Sale

0

4

N/A

Properties For Sale

14

17

21.43

Sold Average Days on Market

6

101

1583.33

Month’s Supply of Inventory

0

7.2

N/A

N/A

23.50%

N/A

103.00%

87.20%

-15.34

1,399

1,372

-1.93

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

Valley Village (Condominium) Sold Median Price Sold Average Price per Square Foot

Percent Under Contract Sold Price / Original List Price % Sold Avg. Square Footage

-5.22

-19.08

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Venice The real estate scene in the beach community of Venice, California offers a wide and diverse range of living opportunities from 1920s beach bungalows to contemporary homes, 50s ranch styles, and loft-style residential studios. Land is in short supply, so there is a movement toward renovation. In May 2011, the average list price of a single family home was $1,366,846 and the average sale price was $1,309,461. The median sale price for the same month was $1,030,000, up significantly from $740,000 in April 2011 and down from $1,100,000 in May 2010. Venice, California was recently named one of the funkiest towns in America. The city is home to canals and colonnades, artists and visionaries, musicians, entertainers and others. Adjacent to neighboring communities of Santa Monica and Marina Del Rey, Venice is obviously a beach town with opportunities for a wide variety of outdoor and water activities. It is conveniently located, only 15 minutes to Los Angeles International Airport, 20 minutes to Beverly Hills, and 30 minutes to the downtown financial district.

811 Amoroso Place

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Venice (Single Family)

3rd Quarter Ending 2010 $951,775

3rd Quarter Ending 2011 $1,184,744

Percent Change

$566

$698

23.32

Properties Sold

36

47

30.56

Properties Pending Sale

30

46

53.33

Properties For Sale

197

178

-9.64

Sold Average Days on Market

73

57

-21.92

13.1

5.4

-58.78

Percent Under Contract

15.20%

25.80%

69.74

Sold Price / Original List Price %

89.70%

94.30%

5.13

1,685

1,719

2.02

3rd Quarter Ending 2010 $987,387

3rd Quarter Ending 2011 $987,625

Percent Change

$550

$541

-1.64

Properties Sold

13

8

-38.46

Properties Pending Sale

9

7

-22.22

Properties For Sale

71

49

-30.99

Sold Average Days on Market

58

43

-25.86

27.9

16.3

-41.58

Percent Under Contract

12.70%

14.30%

12.60

Sold Price / Original List Price %

93.50%

92.90%

-0.64

1,811

1,824

0.72

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

Venice (Condominium) Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

24.48

0.02

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

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West Hollywood Located between Beverly Hills and the main area of Hollywood, West Hollywood is close to the bustle of shops along the famous Melrose Avenue and home to some of the finest restaurants in the city. West Hollywood homes boast the fact that art galleries and a wide array of entertainment are a stone's throw away from the neighborhood. In May 2011, the average list price of homes in the area was $1,343,277 and the average selling price was just slightly less at $1,314,444. The median sale price for the same period, May 2011, was $1,327,500, and sale prices ranged from $645,000 to $2,150,000! The West Hollywood area zip codes include 90038, 90046, 90048, and 90069, and it is served by West Hollywood Elementary School and the Los Angeles Unified School District.

720 Vista Street

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


West Hollywood (Single Family)

3rd Quarter Ending 2010 $726,370

3rd Quarter Ending 2011 $969,150

Percent Change

$518

$562

8.49

Properties Sold

15

22

46.67

Properties Pending Sale

13

26

100.00

Properties For Sale

99

113

14.14

Sold Average Days on Market

35

62

77.14

28.8

7.1

-75.35

Percent Under Contract

13.10%

23.00%

75.57

Sold Price / Original List Price %

88.00%

91.40%

3.86

1,421

1,430

0.63

3rd Quarter Ending 2010 $584,489

3rd Quarter Ending 2011 $494,929

Percent Change

$443

$400

-9.71

Properties Sold

71

79

11.27

Properties Pending Sale

75

91

21.33

Properties For Sale

406

359

-11.58

Sold Average Days on Market

82

95

15.85

Month’s Supply of Inventory

9.8

6.0

-38.78

Percent Under Contract

18.50%

25.30%

36.76

Sold Price / Original List Price %

90.30%

90.60%

0.33

1,317

1,240

-5.85

Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

West Hollywood (Condominium) Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

33.42

-15.32

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


West Los Angeles West Los Angeles includes a varied mix of neighborhoods with single family homes in widely varying price ranges. The MLS area known as "West L.A." is encircled by such varied areas as Brentwood, Bel Air – Holmby Hills, Westwood – Century City, Cheviot Hills – Rancho Park, Beverlywood, Palms – Mar Vista, and Santa Monica. This location is just minutes from the famous beaches of Southern California and offers mountain views. Median sale price in the West Los Angeles area was $530,000 in May 2011, compared to $801,550 in April 2011 and to $713,000 in May 2010. From January through May 2011, 19 homes sold in the area, and the total sales volume was $10,950,100. Sales volume in May 2011 alone for the 7 homes that sold was $4,113,500, up substantially from $1,603,100 in April 2011.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


West Los Angeles (Single Family)

3rd Quarter Ending 2010 $683,062

3rd Quarter Ending 2011 $678,570

Percent Change

$505

$456

-9.70

Properties Sold

16

27

68.75

Properties Pending Sale

12

18

50.00

Properties For Sale

61

50

-18.03

Sold Average Days on Market

36

53

47.22

Month’s Supply of Inventory

9.2

5.7

-38.04

Percent Under Contract

19.70%

36.00%

82.74

Sold Price / Original List Price %

94.50%

93.50%

-1.06

1,352

1,487

9.99

3rd Quarter Ending 2010 $545,906

3rd Quarter Ending 2011 $507,056

Percent Change

$404

$359

-11.14

Properties Sold

31

36

16.13

Properties Pending Sale

29

43

48.28

Properties For Sale

157

156

-0.64

Sold Average Days on Market

45

38

-15.56

Month’s Supply of Inventory

9.7

5.6

-42.27

Percent Under Contract

18.50%

27.60%

49.19

Sold Price / Original List Price %

95.90%

95.30%

-0.63

1,341

1,413

5.37

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

West Los Angeles (Condominium) Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

-0.66

-7.12

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Westchester Westchester is a family community that is convenient to the Los Angeles airport and Loyola Marymount University. Westchester mixes the best of both worlds, being near the sunny Southern California beaches and the mountains. Home buyers will find a nice mix of new and established houses in the area. In May 2011, the average list price for this area was $690,000 and the median sale price was $679,000. Single family home sale prices ranged from $395,000 to $915,000 for 18 homes that were sold in May 2011. Sales volume for May 2011 alone was $11,442,000, with total sales volume for the period from January through May 2011 at $45,574,100. Sales volume for the same January through May period of the prior year 2010 was almost exactly the same at $45,511,788. Some of the schools that serve the Westchester area are Westchester Senior High, Loyola Village Performing Arts and Open Charter Magnet School. The zip code that serves the area is 90045.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Westchester (Single Family)

3rd Quarter Ending 2010 $722,099

3rd Quarter Ending 2011 $672,064

Percent Change

$441

$414

-6.12

Properties Sold

60

47

-21.67

Properties Pending Sale

49

49

0.00

Properties For Sale

162

130

-19.75

Sold Average Days on Market

29

40

37.93

Month’s Supply of Inventory

5.0

3.8

-24.00

Percent Under Contract

30.20%

37.70%

24.83

Sold Price / Original List Price %

97.10%

95.00%

-2.16

1,647

1,625

-1.34

3rd Quarter Ending 2010 $296,000

3rd Quarter Ending 2011 $504,817

Percent Change

$325

$307

-5.54

Properties Sold

3

18

500.00

Properties Pending Sale

9

6

-33.33

Properties For Sale

30

34

13.33

Sold Average Days on Market

64

62

-3.13

Month’s Supply of Inventory

2.6

13.6

423.08

Percent Under Contract

30.00%

17.60%

-41.33

Sold Price / Original List Price %

96.40%

98.80%

2.49

994

1,645

65.49

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Westchester (Condominium) Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

-6.93

70.55

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


Westwood + Century City Westwood is home to UCLA, one of the most renowned universities in the world. The famed Wilshire Corridor, with its condominium buildings stretching for blocks and blocks, is situated within Westwood. Many beautiful homes also grace the streets of Westwood. Century City, with its skyscraper office buildings, is one of the primary business centers of Los Angeles. A myriad of condominium complexes and some single family homes can be found in Century City. In May 2011, sales volume for single family homes was $10,875,500, compared to a mere $4,724,400 the month before and to a whopping $22,120,000 in May 2010. Obviously, home prices vary greatly in the Westwood – Century City area, with sale prices of the 10 homes that sold in May 2011 ranging from $718,000 to $3,350,000. 46 homes sold during the period from January through May 2011 with total dollar sales volume of $65,972,717, compared to only $56,413,000 for the same period in 2010.

L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Westwood + Century City (Single Family)

3rd Quarter Ending 2010 $1,434,962

3rd Quarter Ending 2011 $1,340,800

Percent Change

$581

$512

-11.88

Properties Sold

46

41

-10.87

Properties Pending Sale

36

34

-5.56

Properties For Sale

155

126

-18.71

Sold Average Days on Market

44

43

-2.27

Month’s Supply of Inventory

8.2

5.5

-32.93

Percent Under Contract

23.20%

27.00%

16.38

Sold Price / Original List Price %

93.30%

93.40%

0.11

2,446

2,609

6.66

3rd Quarter Ending 2010 $637,743

3rd Quarter Ending 2011 $904,431

Percent Change

$440

$516

17.27

Properties Sold

69

100

44.93

Properties Pending Sale

71

116

63.38

Properties For Sale

582

560

-3.78

Sold Average Days on Market

76

76

0.00

16.5

8.6

-47.88

Percent Under Contract

12.20%

20.70%

69.67

Sold Price / Original List Price %

91.20%

88.00%

-3.51

1,451

1,761

21.36

Sold Median Price Sold Average Price per Square Foot

Sold Avg. Square Footage

Westwood + Century City (Condominium) Sold Median Price Sold Average Price per Square Foot

Month’s Supply of Inventory

Sold Avg. Square Footage

-6.56

41.82

Source: Combined Los Angeles/Westside Multiple Listing Service

live architecture

TM


architecture L o s A n g e l e s Ma r k e t R e p o r t I S e p t e m b e r 2 0 1 1


Our focus and our passion in real estate motivates people to respond, bond and commit to extraordinary lifestyles influenced by architecture.

architecture 8, a full service real estate brokerage, focuses on architectural and significant properties where inspired design invites you home. With an unparalleled commitment to service, and where the client’s needs come first, architecture 8 utilizes the most current technology to manage, list, market and sell properties. Whether it’s a first time home buyer being guided through the purchase process or an experienced investor looking to enhance its real estate portfolio, architecture 8 will aid in realizing the client’s desires by using its expanded network of local, national and international brokerages to provide access to extraordinary properties. architecture 8’s philosophy of ―live architecture‖ embodies more than just recognizing the aesthetic and functional value of a property. To ―live architecture‖ is to appreciate the unique elements and subtle details of each property and to allow the same to affect and influence one’s life. Le Corbusier wrote: "You employ stone, wood, and concrete, and with these materials you build houses and palaces: that is construction… But suddenly you touch my heart, you do me good. I am happy and I say: This is beautiful. That is Architecture." be inspired. live architecture.

live architecture

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architecture8.com 888.442.7248 architecture 8, inc. Š 2011


Los Angeles Market Report September 2011  

Los Angeles Market Report for September 2011

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