Report for
Copyright by KW Advisors 2023
MarketReport Market
the Southern California area January 2023
Southern California area
Los Angeles
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Santa Monica
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Brentwood
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Marina Del Rey
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Pacific Palisades
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Culver City
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Sherman Oaks
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Studio
City
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Westlake Village
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Playa Del Rey
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Venice
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West Hollywood
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Beverly Hills
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Riverside County
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Encino
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San Diego County
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What’syourhome reallyworthin today’smarket?
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?
Icanhelp...
Contact me for a confidential, no obligation assessment of your home's value.
WhatAreYourGoals intheHousingMarket ThisYear?
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.
rice
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.
0K
8
3,763
New Listings
811
Sold Listings
3.3
Months of Inventory $600K
95.8%
Median Sale vs List
Median Sale Price
45 Avg Days on Market
CONDO Condo & Townhomes
DECEMBER 2021 - DECEMBER 2022
Single Family Homes
Last 12 months, year-over-year
Condos & Townhomes
Last 12 months, year-over-year
0 5000 10000 15,000 20,000 25,000 December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022November2022December2022 0 1,000 2,000 3000 4000 5000 6,000 7,000 December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022November2022December2022
LosAngeles
LISTINGS FOR SALE SOLD LISTINGS
Median SalesPrice
Single Family Homes
The median sales slightly decreased from $910k in December 2021 to $860k in December 2022.
Condos & Townhomes
The median sales price has slightly decreased from $647k last December 2021 to $600k in December 2022.
Single Family Homes
The average days on market is up from 29 days last December 2021 to 48 days by December 2022
Condos & Townhomes
The average time spent on market is up from 31 days last December 2021 to 45 days in December 2022
Overbids
Single Family Homes
The overbid percentage is down from 99 3% last December 2021 to 93 5% a year later
Condos & Townhomes
The overbid percentage has gone down from 100.1% last December 2021 to 95.8% a year later.
$0 $200,000 $400,000 $600,000 $800,000 $1,000,000 December2021January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022November2022December2022 0 10 20 30 40 50 December2021January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022November2022December2022 000% 2000% 4000% 6000% 8000% 10000% 12000% December2021January2022February2022March2022April2022May2022June2022 July2022August2022September2022October2022November2022December2022
AVGDays OntheMarket
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.
Del Rey | Pacific Palisades 2023. Each Office is independently owned and operated.
Listings Sold Listings
$1.1M
77
CONDO Condo & Townhomes
137 5.5
Months of Inventory Median Sale Price 93.9%
Median Sale vs List Avg Days on Market 24 New
SantaMonica
DECEMBER 2021 - DECEMBER 2022 LISTINGS FOR SALE
Single Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
0 50 100 150 200 December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022November2022December2022 0 50 100 150 200 250 300 350 December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022November2022December2022
SOLD LISTINGS
Median SalesPrice
Single Family Homes
The median sales price remain almost the same at around $3m from December 2021 to December 2022
Condos & Townhomes
The median sales price has slightly increased from $ 1.199m last December 2021, to $1.117m in December 2022
Single Family Homes
The average days on the market is down from 41 days last December 2021 to 40 days by December 2022
Condos & Townhomes
The average time spent on market is up from 50 days last December 2021 to 77 days in December 2022
Overbids
Single Family Homes
The overbid percentage has decreased from 97.6% last December 2021 to 92% a year later
Condos & Townhomes
The overbid percentage has decreased from 97.8% last December 2021, to 93.9% a year later.
$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 December2021January2022February2022March2022April2022May2022June2022July2022August2022September2022
0 20 40 60 80 December2021January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022November2022December2022 000% 2000% 4000% 6000% 8000% 10000% 12000% December2021January2022February2022March2022April2022May2022June2022 July2022August2022September2022October2022
October2022November2022December2022
November2022December2022
AVGDays OntheMarket
2701 Ocean Park Blvd #140, Santa Monica, CA 90405,
11812 San Vicente Blvd Ste 100, Los Angeles, CA 90049, United States
444 Washington Blvd Marina Del Rey, CA 90292, United States
845 Vía De La Paz, Pacific Palisades, CA 90272, United States
:
KellerWilliamsSantaMonica
United States
KellerWilliamsBrentwood
KellerWilliamsMarinaDelRey
KellerWilliamsPacificPalisades