Market Report - Sample

Market Report Market Report for the Southern California area January 2023

Copyright by KW Advisors 2023

Southern California area

Los Angeles

Culver City

Jump to Los Angeles Report

Jump to Culver City Report

Santa Monica

Sherman Oaks

Jump to Santa Monica Report

Jump to Sherman Oaks Report

Brentwood

Studio City

Jump to Brentwood Report

Jump to Studio City Report

Marina Del Rey

Westlake Village

Jump to Marina Del Rey Report

Jump to Westlake Village Report

Pacific Palisades

Playa Del Rey

Jump to Pacific Palisades Report

Jump to Playa Del Rey Report

Venice Jump to Venice Report

West Hollywood Jump to West Hollywood Report

Beverly Hills Jump to Beverly Hills Report

Riverside County Jump to Riverside County

Encino Jump to Encino Report

San Diego County Jump to San Diego County

What’s your home really worth in today’s market?

That's really the question you should be asking yourself.

Our market is incredibly diverse, and it's changing rapidly.

Values vary not just by neighborhood, but by street. Your home isn't necessarily worth what your neighbors is. At the end of the day, the current market sets the value of your home.

So, do you know what your home is worth in today's market?

I can help...

Contact me for a confidential, no obligation assessment of your home's value.

What Are Your Goals in the Housing Market This Year?

If buying or selling a home is part of your dreams for 2023, it’s essential for you to understand today’s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus.

Los Angeles What's in the Los Angeles data?

Los Angeles' single-family housing market saw a decrease to an $860k median sold price. There were 2,428 units sold out of 12,243 new listings. The condo & townhome market has declined month-over-month, with 3,763 new listings and 811 sales totaling approximately $600k. Buyers have remained aggressive with average offer prices remaining at around 100%. Due to only 6% of homes being completed the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying only continues to increase. This is creating an imbalance between the price range and active options in the marketplace.

SFH

Single Family Homes

12,243 2,428 New Listings

Sold Listings

3.4

$860K

Months of Inventory

Median Sale Price

93.5%

48

Median Sale vs List

Avg Days on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from December 2021 to December 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to Keller Williams Advisors. DRE# 01499010. Copyright Keller Williams Santa Monica | Brentwood | Marina Del Rey | Pacific Palisades 2023. Each Office is independently owned and operated.

CONDO

Condo & Townhomes

3,763

811

New Listings

Sold Listings

3.3

$600K

Months of Inventory

Median Sale Price

95.8%

45

Median Sale vs List

Avg Days on Market

20 22

20 22

20 22

20 21

Condos & Townhomes Last 12 months, year-over-year.

20 22

20 22

20 22

20 22

20 22

20 22

20 21

20 22

20 22

20 22 Au gu st 20 22 Se pt em be r2 02 2 O ct ob er 20 22 N ov em be r2 02 2 De ce m be r2 02 2

Ju ly

Ju ne

M ay

Ap ril 20 22

M ar ch

Fe br ua ry

Ja nu ar y

De ce m be r

L I S T INGS FOR S A L E

Au gu st 20 22 Se pt em be r2 02 2 O ct ob er 20 22 N ov em be r2 02 2 De ce m be r2 02 2

Ju ly

Ju ne

M ay

Ap ril 20 22

M ar ch

Fe br ua ry

Ja nu ar y

De ce m be r

Los Angeles DECEMBER 2021 - DECEMBER 2022

S O L D LISTINGS

25,000

20,000

15,000

10,000

5,000

0

Single Family Homes Last 12 months, year-over-year.

7,000

6,000

5,000

4,000

3,000

2,000

1,000

0

Median Sales Price Single Family Homes

$800,000

$600,000

$400,000

$200,000

$0

The median sales price has slightly decreased from $647k last December 2021 to $600k in December 2022.

20 21 Ja nu ar y 20 Fe 22 br ua ry 20 22 M ar ch 20 22 Ap ril 20 22 M ay 20 22 Ju ne 20 22 Ju ly 20 22 Au gu st Se 20 pt 22 em be r2 02 O 2 ct ob er N 20 ov 22 em be r2 De 02 ce 2 m be r2 02 2

Condos & Townhomes

De ce m be r

The median sales slightly decreased from $910k in December 2021 to $860k in December 2022.

$1,000,000

AVG Days On the Market

50

40

30

Single Family Homes The average days on market is up from 29 days last December 2021 to 48 days by December 2022.

20

10

Condos & Townhomes 20 Fe 22 br ua ry 20 22 M ar ch 20 22 Ap ril 20 22 M ay 20 22 Ju ne 20 22 Ju ly 20 22 Au gu st 20 Se 22 pt em be r2 02 O 2 ct ob er 20 N ov 22 em be r2 De 02 ce 2 m be r2 02 2

Ja nu ar y

100.00% 80.00%

The overbid percentage is down from 99.3% last December 2021 to 93.5% a year later.

60.00%

Condos & Townhomes

20.00% 0.00% 20 21

The overbid percentage has gone down from 100.1% last December 2021 to 95.8% a year later.

40.00%

20 Fe 22 br ua ry 20 22 M ar ch 20 22 Ap ril 20 22 M ay 20 22 Ju ne 20 22 Ju ly 20 22 Au gu st 20 Se 22 pt em be r2 02 O 2 ct ob er 20 N ov 22 em be r2 De 02 ce 2 m be r2 02 2

Single Family Homes

The average time spent on market is up from 31 days last December 2021 to 45 days in December 2022.

120.00%

Ja nu ar y

Overbids

De ce m be r

De ce m be r

20 21

0

Santa Monica What's in the Santa Monica data?

Santa Monica's single-family housing market saw a decrease to a $3 million median sold price. There were 11 units sold out of 122 new listings. The condo & townhome market declined month-over-month with 137 new listings, and 24 sales totaling approximately $1.1 million. Buyers have remained aggressive with average offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with th surging demand, and the cost of buying only continues to increase. This is creating an imbalance between the price range and active options in the marketplace.

SFH

Single Family Homes

122

11

New Listings

Sold Listings

12.6

$3M

Months of Inventory

Median Sale Price

92%

40

Median Sale vs List

Avg Days on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from December 2021 to December 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to Keller Williams Advisors. DRE# 01499010. Copyright Keller Williams Santa Monica | Brentwood | Marina Del Rey | Pacific Palisades 2023. Each Office is independently owned and operated.

CONDO

Condo & Townhomes

137

24

New Listings

Sold Listings

5.5

$1.1M

Months of Inventory

Median Sale Price

93.9%

77

Median Sale vs List

Avg Days on Market

20 22

20 22

20 22

20 21

Condos & Townhomes Last 12 months, year-over-year.

20 22

20 22

20 22

20 22

20 22

20 21

20 22

20 22

20 22 Au gu st 20 22 Se pt em be r2 02 2 O ct ob er 20 22 N ov em be r2 02 2 De ce m be r2 02 2

Ju ly

Ju ne

M ay

Ap ril 20 22

M ar ch

Fe br ua ry

Ja nu ar y

De ce m be r

L I S T INGS FOR S A L E

20 22 Au gu st 20 22 Se pt em be r2 02 2 O ct ob er 20 22 N ov em be r2 02 2 De ce m be r2 02 2

Ju ly

Ju ne

M ay

Ap ril 20 22

M ar ch

Fe br ua ry

Ja nu ar y

De ce m be r

Santa Monica DECEMBER 2021 - DECEMBER 2022

S O L D LISTINGS

200

150

100

50

0

Single Family Homes Last 12 months, year-over-year.

350

300

250

200

150

100

50

0

Median Sales Price

$6,000,000 $5,000,000 $4,000,000

Single Family Homes The median sales price remain almost the same at around $3m from December 2021 to December 2022.

$3,000,000 $2,000,000 $1,000,000

Condos & Townhomes

20 21 Ja nu ar y 20 Fe 22 br ua ry 20 22 M ar ch 20 22 Ap ril 20 22 M ay 20 22 Ju ne 20 22 Ju ly 20 22 Au gu st Se 20 pt 22 em be r2 02 O 2 ct ob er N 20 ov 22 em be r2 De 02 ce 2 m be r2 02 2

De ce m be r

The median sales price has slightly increased from $ 1.199m last December 2021, to $1.117m in December 2022.

$0

AVG Days On the Market

80

60

Single Family Homes

40

The average days on the market is down from 41 days last December 2021 to 40 days

by December 2022.

20

Condos & Townhomes 20 Fe 22 br ua ry 20 22 M ar ch 20 22 Ap ril 20 22 M ay 20 22 Ju ne 20 22 Ju ly 20 22 Au gu st 20 Se 22 pt em be r2 02 O 2 ct ob er 20 N ov 22 em be r2 De 02 ce 2 m be r2 02 2

Ja nu ar y

Condos & Townhomes The overbid percentage has decreased from 97.8% last December 2021, to 93.9% a year later.

80.00% 60.00% 40.00% 20.00% 0.00% 20 Fe 22 br ua ry 20 22 M ar ch 20 22 Ap ril 20 22 M ay 20 22 Ju ne 20 22 Ju ly 20 22 Au gu st 20 Se 22 pt em be r2 02 O 2 ct ob er 20 N ov 22 em be r2 De 02 ce 2 m be r2 02 2

The overbid percentage has decreased from 97.6% last December 2021 to 92% a year later.

100.00%

Ja nu ar y

Single Family Homes

The average time spent on market is up from 50 days last December 2021 to 77 days in December 2022.

120.00%

20 21

Overbids

De ce m be r

De ce m be r

20 21

0

Keller Williams Santa Monica 2701 Ocean Park Blvd #140, Santa Monica, CA 90405, United States

Keller Williams Brentwood 11812 San Vicente Blvd Ste 100, Los Angeles, CA 90049, United States

Keller Williams Marina Del Rey 444 Washington Blvd Marina Del Rey, CA 90292, United States

Keller Williams Pacific Palisades 845 Vía De La Paz, Pacific Palisades, CA 90272, United States

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