Lynn Peters & Lesley Siegel June 2018 Market Report Westside

LA’s Westside Market Intelligence Report Vol. 4 | July 2018 Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate community This Sales Monthly Report monitors Palms/Mar Vista Beverlywood Beverly Hills

Playa Del Rey

Brentwood

Playa Vista

Cheviot Hills

Santa Monica

Culver City

Sherman Oaks

Hollywood

Venice

Marina Del Rey

Westchester

Pacific Palisades

Westwood/Century City

West Hollywood RE/MAX Estate Properties 700+ Local Agents • 16 Offices • Luxury Residential Commercial Investment Division • International

Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071

Market Intelligence Glossary Median Price:

Median Price is the price of the property that falls in the middle of the total number of properties Sold in any given month.

Average Price Per Square Foot:

Found by taking the price of each property and dividing that by its square footage, then finding the average for all properties Sold.

Properties for Sale: The number of properties that are for sale on the market.

Properties Under Contract:

The number of properties with an accepted offer however they have not closed.

Properties Sold: The number of properties that SOLD and transfered ownership.

DAYS On Market (Closed Sales):

The average number of days that properties were on ACTIVE on the market.

Months Supply Of Inventory:

This is calculated by dividing the total number of homes for sale in a particular month by the number of homes that sold in that month.

Properties Pending sale:

The number of properties placed in escrow during any given month.

Absorption rate (closed sales):

This is the rate at which properties sell. It is the number of properties sold divided by the total number of properties for sale.

Report Notes:

Reports published in July 2018 are based on data available at the end of June 2018. All reports presented are based on data supplied by the CRMLS or TheMLS and Trendgraphix. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Information deemed reliable but not guaranteed

Westside Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the Los Angeles’ Westside.

Beverly Hills...................................................................... 4 Beverlywood..................................................................... 5 Brentwood........................................................................ 6 Cheviot Hills...................................................................... 7 Culver City......................................................................... 8 Hollywood........................................................................ 9 Inglewood....................................................................... 10 Marina del Rey................................................................ 11 Pacific Palisades............................................................. 12 Palms / Mar Vista............................................................ 13 Playa del Rey.................................................................. 14 Playa Vista...................................................................... 15 Santa Monica.................................................................. 16 Sherman Oaks................................................................ 17 Venice.............................................................................. 18 West Hollywood............................................................. 19 West Los Angeles............................................................ 20 Westchester.................................................................... 21 Westwood/Century City................................................. 22

Beverly Hills junE Stats Key Facts:

$1,943,000

Median Sold Price

$3,708,000

Average Sold Price

138

JUNE JUNE % 2017 2018 Change

Median Price

$2,400

$1,943

-19%

Average Price Per Sq. Foot

$1,203

$1,273

6%

Properties for Sale

127 138 9%

Properties Pending Sales

19

19 0%

Properties Sold

19

16 -16%

Days on Market (Sold Homes)

60

45 -25%

Monthly Supply of Inventory

6.7

8.6 28%

Absorption Rate (closed sales)

15

11.6 -23%

Listings for Sale

19

Listings Pending

Average & Median Price $7,000

$3,500 $6,000

$3,000

16

Listings Sold

$2,593

$5,000

$2,500 $3,708

$4,000

$2,000 $1,655

45

Days On Market

$3,000 $1,500 $1,943

$1,000 $2,000

$500 $1,000 $-

$-

June 2017

July 2017

Aug. 2017

Sept.

2017

Oct. 2017

Nov. 2017

Median

Dec. 2017

Jan. 2018

Average

Feb. 2018

Mar. 2018

Apr. 2018

May 2018

June 2018

Beverlywood JUNE Stats Key Facts:

$1,308,000 Median Sold Price

$1,338,000

Average Sold Price

41

JUNE JUNE 2017 2018

Median Price

$1,215

$1,308

8%

Average Price Per Sq. Foot

$721

$790

10%

Properties for Sale

25

41 64%

Properties Pending Sales

12

31 158%

Properties Sold

27

23 -15%

Days on Market (Sold Homes) 58

43 -26%

Monthly Supply of Inventory

2.1

1.3 -38%

Absorption Rate (closed sales) 108

56.1 -48%

Listings for Sale

31

Listings Pending

% Change

Average & Median Price $2,000

$3,500

$1,800

$3,000

$1,600

23

Listings Sold

$1,338

$2,593

$1,400 $2,500

$1,308

$1,200

$2,000

$1,655

$1,000

43

Days On Market

$1,500

$800

$600 $1,000 $400

$500

$200

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Brentwood junE Stats Key Facts:

$2,413,000

Median Sold Price

$3,235,000

Average Sold Price

138

JUNE JUNE % 2017 2018 Change

Median Price

$2,300

$2,413

5%

Average Price Per Sq. Foot

$966

$1,026

6%

Properties for Sale

120 138 15%

Properties Pending Sales

41

48 17%

Properties Sold

57

34 -40%

Days on Market (Sold Homes)

55

57 4%

Monthly Supply of Inventory

2.9 2.9 0%

Absorption Rate (closed sales) 47.5

Listings for Sale

48

Listings Pending

24.6 -48%

Average & Median Price $4,000

$3,500

$3,235 $3,500

$3,000

34

Listings Sold

$2,593

$3,000

$2,500 $2,413

$2,500

$2,000 $1,655

$2,000

57

Days On Market

$1,500 $1,500

$1,000 $1,000

$500 $500

$$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Cheviot Hills JUNE Stats Key Facts:

$2,600,000 Median Sold Price

$2,612,000

Average Sold Price

19

JUNE JUNE 2017 2018

Median Price

$2,220

$2,600

17%

$783

$882

13%

Average Price Per Sq. Foot

Properties for Sale

14

19 36%

Properties Pending Sales

11

13 18%

Properties Sold

10

11 10%

Days on Market (Sold Homes) 56

36 -36%

Monthly Supply of Inventory

1.4

1.7 21%

Absorption Rate (closed sales) 71.4

57.9 -19%

Listings for Sale

13

Listings Pending

% Change

Average & Median Price $3,000 $3,500

$2,612 $2,600

$3,000 $2,500

11

Listings Sold

$2,593 $2,500 $2,000

$2,000 $1,655

$1,500

36

Days On Market

$1,500 $1,000

$1,000

$500 $500

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Culver City junE Stats Key Facts:

$1,160,000

Median Sold Price

$1,160,000

Average Sold Price

50

Median Price

$884

$1,160

31%

Average Price Per Sq. Foot

$775

$790

2%

Properties for Sale

41

Properties Pending Sales

44 47 7%

Properties Sold

30

34 13%

Days on Market (Sold Homes)

42

40 -5%

Monthly Supply of Inventory

1.4 1.5 7%

Listings Pending

Average & Median Price $3,500 $1,400

$3,000 $1,200

34

50 22%

Absorption Rate (closed sales) 73.2 68 -7%

Listings for Sale

47

JUNE JUNE % 2017 2018 Change

$1,160

$1,160

$2,593 $2,500 $1,000

Listings Sold $2,000 $800 $1,655

40

Days On Market

$1,500 $600 $1,000 $400 $500 $200

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Hollywood JUNE Stats Key Facts:

$830,000 Median Sold Price

$895,000

Average Sold Price

62

Listings Pending

$690

$830

20%

Average Price Per Sq. Foot

$688

$594

-14%

Properties for Sale

62

62 0%

Properties Pending Sales

23

18 -22%

Properties Sold

27

25 -7%

Days on Market (Sold Homes) 62

48 -23%

Monthly Supply of Inventory

3.4 26%

2.7

Absorption Rate (closed sales) 43.5 40.3 -7%

Average & Median Price $1,200

$3,500

$895

$3,000 $1,000

25

Listings Sold

% Change

Median Price

Listings for Sale

18

JUNE JUNE 2017 2018

$2,593

$830

$2,500

$800

$2,000 $1,655

$600

48

Days On Market

$1,500 $400

$1,000

$200 $500

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Inglewood junE Stats Key Facts:

$476,000

Median Sold Price

$486,000

Average Sold Price

46

Median Price

$502

$476

-5%

Average Price Per Sq. Foot

$386

$457

18%

Properties for Sale

39

46 18%

Properties Pending Sales

28

42 50%

Properties Sold

34

27 -21%

Days on Market (Sold Homes)

24

25 4%

Monthly Supply of Inventory

1.1

1.7 55%

Absorption Rate (closed sales) 87.2

58.7 -33%

Listings for Sale

42

Listings Pending

JUNE JUNE % 2017 2018 Change

Average & Median Price $700

$3,500 $600

$3,000 $486

27

Listings Sold

$500

$2,500

$476$2,593

$400

$2,000

$1,655

25

Days On Market

$300 $1,500

$200 $1,000

$500 $100 $-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Marina Del Rey JUNE Stats Key Facts:

$1,038,000 Median Sold Price

$1,265,000

Average Sold Price

87

Listings Pending

$939

$1,038

11%

Average Price Per Sq. Foot

$694

$735

6%

Properties for Sale

92

87 -5%

Properties Pending Sales

36

32 -11%

Properties Sold

34

36 6%

Days on Market (Sold Homes) 48

36 -25%

Monthly Supply of Inventory

2.7

2.4 -11%

Absorption Rate (closed sales) 37

41.4 12%

Average & Median Price $1,600

$3,500 $1,400

$3,000

36

Listings Sold

% Change

Median Price

Listings for Sale

32

JUNE JUNE 2017 2018

$1,265

$1,200

$2,593

$2,500

$1,038

$1,000

$2,000 $800

36

Days On Market

$1,655

$1,500 $600

$1,000

$400

$500

$200

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Pacific Palisades junE Stats Key Facts:

$2,778,000

Median Sold Price

$3,252,000

Average Sold Price

89

JUNE JUNE % 2017 2018 Change

Median Price

$2,700

$2,778

3%

Average Price Per Sq. Foot

$1,039

$1,020

-2%

Properties for Sale

95

89 -6%

Properties Pending Sales

27

28 4%

Properties Sold

33

23 -30%

Days on Market (Sold Homes)

42

51 21%

Monthly Supply of Inventory

2.9

3.9 34%

Absorption Rate (closed sales) 34.7

25.8 -26%

Listings for Sale

28

Listings Pending

Average & Median Price $3,500 $5,000 $4,500

$3,000

$4,000

23

Listings Sold

$2,593

$2,500

$3,500

$3,252

$3,000 $2,000

$2,778

$1,655

$2,500

51

Days On Market

$1,500 $2,000

$1,000 $1,500 $1,000

$500

$500

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Palms/Mar Vista JUNE Stats Key Facts:

$1,400,000 Median Sold Price

$1,566,000

Average Sold Price

61

JUNE JUNE 2017 2018

Median Price

$1,497

$1,400

-6%

Average Price Per Sq. Foot

$759

$899

18%

Properties for Sale

48

61 27%

Properties Pending Sales

50

42 -16%

Properties Sold

56

32 -43%

Days on Market (Sold Homes) 39

33 -15%

Monthly Supply of Inventory

1.9 111%

Listings Pending

0.9

Absorption Rate (closed sales) 116.7

Listings for Sale

42

% Change

52.5 -55%

Average & Median Price $3,500

$1,800 $1,566

$1,600 $3,000

32

Listings Sold

$1,400

$2,593

$1,400

$2,500

$1,200

$2,000

$1,000

33

Days On Market

$1,655

$1,500 $800 $600

$1,000

$400

$500 $200

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Playa del Rey junE Stats Key Facts:

$782,000

Median Sold Price

$1,266,000

Average Sold Price

JUNE JUNE % 2017 2018 Change

Median Price

$676

$782

16%

Average Price Per Sq. Foot

$668

$663

-1%

Properties for Sale

28

31 11%

Properties Pending Sales

24

21 -13%

Properties Sold

29

24 -17%

Days on Market (Sold Homes)

24

53 121%

1

1.3 30%

Monthly Supply of Inventory

31

Absorption Rate (closed sales) 103.6 77.4 -25%

Listings for Sale

21

Listings Pending

Average & Median Price $1,800

$3,500 $1,600 $1,266

$3,000

$1,400

24

Listings Sold

$2,593 $2,500 $1,200 $1,000 $2,000

$1,655

53

Days On Market

$782

$800

$1,500

$600

$1,000 $400

$500 $200

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Playa Vista JUNE Stats Key Facts:

$1,190,000 Median Sold Price

$1,596,000

Average Sold Price

21

JUNE JUNE 2017 2018

Median Price

$1,377

$1,190

-14%

Average Price Per Sq. Foot

$679

$750

10%

Properties for Sale

19

21 11%

Properties Pending Sales

18

13 -28%

Properties Sold

19

13 -32%

Days on Market (Sold Homes) 40

35 -13%

Monthly Supply of Inventory

1

1.6 60%

Absorption Rate (closed sales) 100

61.9 -38%

Listings for Sale

13

Listings Pending

% Change

Average & Median Price $2,500

$3,500

$3,000 $2,000

13

Listings Sold

$2,593 $2,500

$1,596

$1,500

$2,000

$1,190

$1,655

35

Days On Market

$1,500 $1,000 $1,000 $500

$500

$$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Santa Monica junE Stats Key Facts:

$1,588,000

Median Sold Price

$2,179,000

Average Sold Price

138

JUNE JUNE % 2017 2018 Change

Median Price

$1,540

$1,588

3%

Average Price Per Sq. Foot

$1,058

$1,099

4%

Properties for Sale

97

138 42%

Properties Pending Sales

58

63 9%

Properties Sold

78

64 -18%

Days on Market (Sold Homes)

43

43 0%

Monthly Supply of Inventory

1.2

2.2 83%

Absorption Rate (closed sales) 80.4

46.4 -42%

Listings for Sale

63

Listings Pending

Average & Median Price $3,500

$2,500 $2,179

$3,000

64

Listings Sold

$2,000

$2,593

$2,500 $1,588 $1,500 $2,000

$1,655

43

Days On Market

$1,500 $1,000

$1,000 $500

$500

$$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Sherman Oaks JUNE Stats Key Facts:

$850,000 Median Sold Price

$1,034,000

Average Sold Price

170

Listings Pending

% Change

Median Price

$875

$850

-3%

Average Price Per Sq. Foot

$507

$531

5%

Properties for Sale

195

170 -13%

Properties Pending Sales

91

97 7%

Properties Sold

126

104 -17%

Days on Market (Sold Homes) 47

41 -13%

Monthly Supply of Inventory

1.6 7%

1.5

Absorption Rate (closed sales) 64.6 61.2 -5%

Listings for Sale

97

JUNE JUNE 2017 2018

Average & Median Price $1,600 $3,500 $1,400

$3,000

104

Listings Sold

$2,593

$1,200

$2,500

$1,034

$1,000

$2,000

$850

$1,655

$800

41

Days On Market

$1,500 $600

$1,000 $400

$500

$200

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Venice junE Stats Key Facts:

$2,318,000

Median Sold Price

$2,300,000

Average Sold Price

72

JUNE JUNE % 2017 2018 Change

Median Price

$2,000

$2,318

16%

$1,136

$1,242

9%

Average Price Per Sq. Foot

Properties for Sale

68

72 6%

Properties Pending Sales

24

28 17%

Properties Sold

21

30 43%

Days on Market (Sold Homes)

39

60 54%

Monthly Supply of Inventory

3.2

2.4 -25%

Absorption Rate (closed sales) 30.9 41.7 35%

Listings for Sale

28

Listings Pending

Average & Median Price $3,000 $3,500

$3,000

$2,300 $2,318

$2,500

30

Listings Sold

$2,593

$2,500 $2,000

$2,000 $1,655

$1,500

60

Days On Market

$1,500 $1,000

$1,000

$500 $500

$-

$-

June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

West Hollywood JUNE Stats Key Facts:

$971,000 Median Sold Price

$1,070,000

Average Sold Price

111

Listings Pending

% Change

Median Price

$812

$971

20%

Average Price Per Sq. Foot

$746

$802

8%

Properties for Sale

86

111 29%

Properties Pending Sales

42

48 14%

Properties Sold

50

38 -24%

Days on Market (Sold Homes) 44

42 -5%

Monthly Supply of Inventory

1.7

2.9 71%

Absorption Rate (closed sales) 58.1

34.2 -41%

Listings for Sale

48

JUNE JUNE 2017 2018

Average & Median Price $3,500 $1,600 $1,400 $3,000

38

Listings Sold

$2,593

$1,200

$1,070

$2,500

$971

$1,000

$2,000

$1,655

$800

42

Days On Market

$1,500 $600

$1,000 $400

$500

$200

$- $June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

West Los Angeles junE Stats Key Facts:

$1,018,000

Median Sold Price

$1,083,000

Average Sold Price

43

Median Price

$936

$1,018

9%

Average Price Per Sq. Foot

$676

$720

7%

Properties for Sale

26

43 65%

Properties Pending Sales

37

25 -32%

Properties Sold

32

22 -31%

Days on Market (Sold Homes)

38

42 11%

Monthly Supply of Inventory

0.8

2 150%

Absorption Rate (closed sales) 123.1

51.2 -58%

Listings for Sale

25

Listings Pending

JUNE JUNE % 2017 2018 Change

Average & Median Price $1,600

$3,500

$1,400 $1,083

$3,000

$1,200

22

Listings Sold

$2,593

$1,018

$2,500

$1,000

$2,000 $800

42

Days On Market

$1,655

$1,500 $600 $1,000 $400 $500 $200

$-$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Westchester JUNE Stats Key Facts:

$1,308,000 Median Sold Price

$1,362,000

Average Sold Price

49

JUNE JUNE 2017 2018

Median Price

$1,080

$1,308

21%

$659

$670

2%

Average Price Per Sq. Foot

Properties for Sale

59

49 -17%

Properties Pending Sales

41

30 -27%

Properties Sold

41

38 -7%

Days on Market (Sold Homes) 31

35 13%

Monthly Supply of Inventory

1.3 -7%

Listings Pending

1.4

Absorption Rate (closed sales) 69.5 77.6 12%

Listings for Sale

30

Average & Median Price $3,500

$1,600 $1,362

$3,000 $1,400

38

Listings Sold

% Change

$1,308

$2,593 $1,200 $2,500 $1,000

$2,000

$1,655 $800

35

Days On Market

$1,500

$600

$1,000 $400

$500 $200

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Westwood/Century City junE Stats Key Facts:

$1,275,000

Median Sold Price

$1,765,000

Average Sold Price

154

JUNE JUNE % 2017 2018 Change

Median Price

$1,035

$1,275

23%

Average Price Per Sq. Foot

$771

$869

13%

Properties for Sale

161

154 -4%

Properties Pending Sales

71

57 -20%

Properties Sold

94

63 -33%

Days on Market (Sold Homes)

55

54 -2%

Monthly Supply of Inventory

1.7

2.4 41%

Absorption Rate (closed sales) 58.4

Listings for Sale

57

Listings Pending

40.9 -30%

Average & Median Price $2,000 $3,500 $1,765

$1,800

$3,000 $1,600

63

Listings Sold

$2,593

$2,500 $1,400

$1,275

$1,200

$2,000 $1,655

$1,000

54

Days On Market

$1,500 $800

$1,000 $600 $400

$500

$200

$-

$-

June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

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