Page 1

Vol. III Nov 2017

Select Westside+ Market Intelligence Report

Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the Los Angeles real estate market. This report covers Santa Monica, Culver City, Palms/Mar Vista, Marina Del Rey, Playa Del Rey, Playa Vista, Westchester, Venice, West Hollywood, Inglewood, Sherman Oaks, Pacific Palisades, Westwood/ Century City, Brentwood, Hollywood, Cheviot Hills, West Los Angeles, and Beverlywood.

Gloria Benveniste Wertlieb Certified Negotiation Expert (CNEÂŽ) Licensed Broker

(310) 822-4974 | Cell (310) 710-4750 EMAIL: gloriabenveniste@gmail.com www.gloriabenveniste.com BRE# 00630263


700+ Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International Children’s Miracle Network of Hospitals Supporter #27 RIS Media Top 500 Power Broker BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212 Phone: 310.205.0050 WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 Phone: 310.202.8141 SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401 Phone: 310.264.2225 MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 Phone: 310.577.5300 EL SEGUNDO 402 Main Street El Segundo, CA 90245 Phone: 310.322.1425 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 Phone: 310.376.2225 MANHATTAN BEACH DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 Phone: 310.937.5700 HERMOSA BEACH 2601 Pacific Coast Hwy. #101 Hermosa Beach, CA 90254 Phone: 310.937.3200

SOUTH BAY 23740 Hawthorne Blvd. 2nd Floor Torrance, CA 90505 Phone: 310.378.9889 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 Phone: 310.378.7747 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Phone: 310.378.9494 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732 Phone: 310.831.0150 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Phone: 310.831.0222 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 Phone: 310.544.9999 Silicon BEACH WESTCHESTER 7131 W. Manchester Ave. Los Angeles, CA 90045 Phone: 310.802.6000

Photography courtesy of Brian Holm | AvenueEye.com | 424.262.7723


ESTATE PROPERTIES ESTATE PROPERTIES


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

Beverly Hills Beverlywood Brentwood Cheviot Hills Culver City Hollywood Inglewood Marina del Rey Pacific Palisades Palms / Mar Vista Playa del Rey Playa Vista Santa Monica Sherman Oaks Venice West Hollywood West Los Angeles Westchester Westwood/Century City

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.

Report Notes:

Reports published in November 2017 are based on data available at the end of October 2017. All reports presented are based on data supplied by the CRMLS or CLAW and Trendgraphix. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Information deemed reliable but not guaranteed.

Photography courtesy of Brian Holm, AvenueEye.com


Beverly Hills October Stats Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$2,126

$2,600

22%

Average Price Per Sq. Foot

$1,056

$1,277

21%

Properties for Sale

124

118 -5%

Properties Pending Sales

25

22 -12%

Properties Sold

35

21 -40%

Days on Market (Sold Homes)

64

72 13%

Monthly Supply of Inventory

3.5

5.6 60%

Absorption Rate (closed sales)

28.2

17.8 -37%

$7,000

$2,600,000

Median Sold Price

$5,349,000 Average Sold Price

118 Listings for Sale

Avg. & Median Price by Month

22

$3,500

$6,000

$5,349

$3,000

$5,000

$2,593

Listings Pending

$2,500

$4,000 $2,000 $1,655

$3,000 $1,500

$2,600

21 Listings Sold

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

72

$- $-

Days On Market Median

Average


Beverlywood October Stats

$1,498,000

Median Sold Price

$1,550,000

Average Sold Price

39 Listings for Sale

Year Over Year

Oct. Oct. 2016 2017

Median Price

$915

$1,498

64%

Average Price Per Sq. Foot

$632

$736

16%

Properties for Sale

45

39 -13%

Properties Pending Sales

20

18 -10%

Properties Sold

17

13 -24%

Days on Market (Sold Homes)

45

51 13%

Monthly Supply of Inventory

2.3

2.2 -4%

Absorption Rate (closed sales)

37.8

33.3 -12%

$2,000

18 Listings Pending

% Change

Avg. & Median Price by Month

$3,500 $1,800

$1,550

$1,600 $3,000

$1,498 $2,593

$1,400 $2,500 $1,200

13 Listings Sold

$2,000 $1,000

$1,655

$800 $1,500 $600 $1,000 $400

51

$500 $200 $- $-

Days On Market Median

Average


Brentwood October Stats Year Over Year

Oct. Oct. 2016 2017

Median Price

$1,410

$1,600

13%

Average Price Per Sq. Foot

$929

$908

-2%

Properties for Sale

135

116 -14%

Properties Pending Sales

41

46 12%

Properties Sold

37

37 0%

Days on Market (Sold Homes)

72

59 -18%

Monthly Supply of Inventory

3.3

2.5 -24%

Absorption Rate (closed sales)

27.4

31.9 16%

$4,000

% Change

$1,600,000

Median Sold Price

$2,708,000

Average Sold Price

116 Listings for Sale

Avg. & Median Price by Month

46

$3,500 $3,500

$2,708

$3,000 $3,000

$2,593

Listings Pending

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

$1,655 $1,600

$1,500 $1,500

37 Listings Sold

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

59

$- $-

Days On Market Median

Average


Cheviot Hills October Stats

$2,755,000

Median Sold Price

Year Over Year

Oct. Oct. 2016 2017

Median Price

$1,160

$2,755

138%

$718

$732

2%

Average Price Per Sq. Foot

$2,755,000

Average Sold Price

15 Listings for Sale

% Change

Properties for Sale

22

15 -32%

Properties Pending Sales

8

6 -25%

Properties Sold

3

2 -33%

Days on Market (Sold Homes)

68

100 47%

Monthly Supply of Inventory

7.3 7.5 3%

Absorption Rate (closed sales)

13.6 13.3 -2%

Avg. & Median Price by Month

6 Listings Pending

$2,755

$3,500 $3,000

$2,755

$3,000 $2,500 $2,593 $2,500 $2,000

2 Listings Sold

100

$2,000 $1,655

$1,500 $1,500

$1,000 $1,000

$500 $500 $$-

Days On Market Median

Average


Culver City October Stats Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$846

$946

12%

Average Price Per Sq. Foot

$584

$754

29%

Properties for Sale

34

52 53%

Properties Pending Sales

37

33 -11%

Properties Sold

29

31 7%

Days on Market (Sold Homes)

40

34 -15%

Monthly Supply of Inventory

1.2

1.7 42%

Absorption Rate (closed sales)

85.3

59.6 -30%

$946,000

Median Sold Price

$974,000

Average Sold Price

52 Listings for Sale

Avg. & Median Price by Month $1,200 $3,500 $974

$1,000 $3,000

$946 $2,593

33 Listings Pending

$2,500 $800 $2,000 $600

$1,655

$1,500

31 Listings Sold

$400 $1,000

$200 $500

34

$- $-

Days On Market Median

Average


Hollywood October Stats

$825,000

Median Sold Price

$937,000 Average Sold Price

56 Listings for Sale

Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$831

$825

-1%

Average Price Per Sq. Foot

$629

$589

-6%

Properties for Sale

52

56 8%

Properties Pending Sales

25

22 -12%

Properties Sold

17

17 0%

Days on Market (Sold Homes)

32

45 41%

Monthly Supply of Inventory

2.1

2.5 19%

Absorption Rate (closed sales)

32.7 30.4 -7%

Avg. & Median Price by Month

22 Listings Pending

$1,200 $3,500 $937 $3,000 $1,000 $2,593 $825

$2,500 $800

17 Listings Sold

45

$2,000 $600

$1,655

$1,500

$400 $1,000

$200 $500 $$-

Days On Market Median

Average


Inglewood October Stats Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$448

$475

6%

Average Price Per Sq. Foot

$333

$380

14%

Properties for Sale

43

51 19%

Properties Pending Sales

26

32 23%

Properties Sold

24

39 63%

Days on Market (Sold Homes)

55

32 -42%

Monthly Supply of Inventory

1.8

1.3 -28%

Absorption Rate (closed sales)

55.8

76.5 37%

$600

$475,000

Median Sold Price

$506,000 Average Sold Price

51 Listings for Sale

Avg. & Median Price by Month

$3,500

$506

$500 $3,000

$475 $2,593

$400 $2,500

$2,000 $300

$1,655

$1,500 $200

32 Listings Pending

39 Listings Sold

$1,000

$100 $500

32

$- $-

Days On Market Median

Average


Marina Del Rey October Stats

$982,000

Median Sold Price

Year Over Year

Oct. Oct. 2016 2017

Median Price Average Price Per Sq. Foot

$1,275,000 Average Sold Price

74 Listings for Sale

Listings Pending

$1,075

$982

-9%

$647

$715

11%

Properties for Sale

79

74 -6%

Properties Pending Sales

33

44 33%

Properties Sold

39

38 -3%

Days on Market (Sold Homes)

53

45 -15%

Monthly Supply of Inventory

2

1.9 -5%

Absorption Rate (closed sales)

$1,400

44

% Change

49.4 51.4 4%

Avg. & Median Price by Month

$3,500

$1,275

$1,200 $3,000

$982

$1,000

$2,593

$2,500

$800

38 Listings Sold

45

$2,000 $1,655

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

Days On Market Median

Average


Pacific Palisades October Stats Year Over Year

Oct. Oct. 2016 2017

Median Price

% Change

$1,798

$2,775

54%

Average Price Per Sq. Foot

$955

$889

-7%

Properties for Sale

104

74 -29%

Properties Pending Sales

38

30 -21%

Properties Sold

30

33 10%

Days on Market (Sold Homes)

70

71 1%

Monthly Supply of Inventory

3.5

2.2 -37%

Absorption Rate (closed sales) 28.8

44.6 55%

$2,775,000

Median Sold Price

$3,092,000 Average Sold Price

74 Listings for Sale

Avg. & Median Price by Month

30

$3,500 $5,000

$4,500 $3,000 $4,000

$2,593

Listings Pending

$2,500 $3,500

$3,092 $3,000 $2,000

$2,775 $1,655

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

33 Listings Sold

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

71

$- $-

Days On Market Median

Average


Palms/Mar Vista October Stats

$1,378,000

Median Sold Price

Year Over Year

Oct. Oct. 2016 2017

Median Price Average Price Per Sq. Foot

$1,525,000 Average Sold Price

54 Listings for Sale

% Change

$1,166

$1,378

18%

$733

$771

5%

Properties for Sale

56

54 -4%

Properties Pending Sales

41

41 0%

Properties Sold

30

46 53%

Days on Market (Sold Homes)

42

50 19%

Monthly Supply of Inventory

1.9

1.2 -37%

Absorption Rate (closed sales)

53.6 85.2 59%

Avg. & Median Price by Month

41 Listings Pending

$3,500 $1,800

$1,525

$1,600 $3,000

$1,378$2,593

$1,400 $2,500 $1,200

46 Listings Sold

$2,000 $1,000

$1,655

$800 $1,500 $600 $1,000 $400

50

$500 $200 $- $-

Days On Market Median

Average


Playa del Rey October Stats Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$635

$633

0%

Average Price Per Sq. Foot

$520

$607

17%

Properties for Sale

27

23 -15%

Properties Pending Sales

20

18 -10%

Properties Sold

18

14 -22%

Days on Market (Sold Homes)

43

28 -35%

Monthly Supply of Inventory

1.5

1.6 7%

Absorption Rate (closed sales)

66.7

60.9 -9%

$1,400

Median Sold Price

$803,000 Average Sold Price

23 Listings for Sale

Avg. & Median Price by Month

18

$3,500

$1,200 $3,000

$1,000

$803 $2,593

$2,500

$800 $2,000

$633 $1,655

$600 $1,500

Listings Pending

14 Listings Sold

$400 $1,000 $200 $500

$-

$633,000

28

$-

Days On Market Median

Average


Playa Vista October Stats

$1,125,000

Median Sold Price

$1,379,000 Average Sold Price

14 Listings for Sale

Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$984

$1,125

14%

Average Price Per Sq. Foot

$567

$686

21%

Properties for Sale

31

14 -55%

Properties Pending Sales

12

14 17%

Properties Sold

11

14 27%

Days on Market (Sold Homes)

56

33 -41%

Monthly Supply of Inventory

2.8

1 -64%

Absorption Rate (closed sales)

35.5

100 182%

Avg. & Median Price by Month

14 Listings Pending

$1,600 $3,500 $1,400 $3,000

$1,379

$1,200

$1,125$2,593

$2,500

$1,000

14 Listings Sold

33

$2,000 $800

$1,655

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

Days On Market Median

Average


Santa Monica October Stats Year Over Year

Oct. Oct. 2016 2017

Median Price

% Change

$1,300

$1,686

30%

Average Price Per Sq. Foot

$953

$1,141

20%

Properties for Sale

130

113 -13%

Properties Pending Sales

59

56 -5%

Properties Sold

42

44 5%

Days on Market (Sold Homes)

50

47 -6%

Monthly Supply of Inventory

3.1

2.6 -16%

Absorption Rate (closed sales) 32.3

38.9 20%

$1,686,000

Median Sold Price

$2,221,000

Average Sold Price

113 Listings for Sale

Avg. & Median Price by Month $3,500 $2,500

56

$2,221

$3,000

$2,000

$2,593

$2,500

Listings Pending

$1,686

$1,500 $2,000 $1,655 $1,500 $1,000

44 Listings Sold

$1,000

$500 $500

47

$- $-

Days On Market Median

Average


Sherman Oaks October Stats

$915,000

Median Sold Price

$1,097,000

Average Sold Price

136

Listings for Sale

Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$850

$915

8%

Average Price Per Sq. Foot

$479

$517

8%

Properties for Sale

221

136 -38%

Properties Pending Sales

72

91 26%

Properties Sold

98

80 -18%

Days on Market (Sold Homes)

64

49 -23%

Monthly Supply of Inventory

2.3

1.7 -26%

Absorption Rate (closed sales)

44.3 58.8 33%

Avg. & Median Price by Month

91

Listings Pending

$3,500 $1,200

$1,097 $3,000 $1,000

$915

$2,593

$2,500 $800

80 Listings Sold

$2,000 $1,655

$600 $1,500

$400 $1,000

$200 $500

49

$-

$-

Days On Market Median

Average


Venice October Stats Year Over Year

Oct. Oct. 2016 2017

Median Price

$1,618

$1,921

19%

Average Price Per Sq. Foot

$1,028

$1,209

18%

% Change

Properties for Sale

86

73 -15%

Properties Pending Sales

28

32 14%

Properties Sold

24

17 -29%

Days on Market (Sold Homes)

60

63 5%

Monthly Supply of Inventory

3.6

4.3 19%

Absorption Rate (closed sales)

27.9

23.3 -16%

$1,921,000

Median Sold Price

$1,927,000

Average Sold Price

73

Listings for Sale

Avg. & Median Price by Month $3,000 $3,500

32

$2,500 $3,000 $2,593 $1,927 $1,921

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

$1,655

$1,500

Listings Pending

17 Listings Sold

$1,000 $1,000

$500 $500

$-

63

$-

Days On Market Median

Average


West Hollywood October Stats

$870,000

Median Sold Price

$1,125,000 Average Sold Price

114 Listings for Sale

Year Over Year

Oct. Oct. 2016 2017

Median Price

% Change

$1,020

$870

-15%

Average Price Per Sq. Foot

$774

$761

-2%

Properties for Sale

121 114 -6%

Properties Pending Sales

39

44 13%

Properties Sold

47

51 9%

Days on Market (Sold Homes)

50

63 26%

Monthly Supply of Inventory

2.6

2.2 -15%

Absorption Rate (closed sales)

38.8 44.7 15%

Avg. & Median Price by Month

44 Listings Pending

51 Listings Sold

63

$3,500 $1,600

$1,400 $3,000 $1,125

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

$870 $1,655

$800 $1,500 $600 $1,000 $400 $500 $200

$-

$2,593

$-

Days On Market Median

Average


West Los Angeles October Stats Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$890

$877

-1%

Average Price Per Sq. Foot

$581

$689

19%

Properties for Sale

47

32 -32%

Properties Pending Sales

24

24 0%

Properties Sold

23

26 13%

Days on Market (Sold Homes)

32

37 16%

Monthly Supply of Inventory

2

1.2 -40%

Absorption Rate (closed sales) 48.9

$1,400

81.3 66%

$877,000

Median Sold Price

$1,022,000 Average Sold Price

32 Listings for Sale

Avg. & Median Price by Month

$3,500

$1,200

$1,022

$3,000

$1,000

$2,593 $877

$2,500

24 Listings Pending

$800 $2,000 $1,655

$600 $1,500

$1,000

$500

$-

26 Listings Sold

$400

$200

37

$-

Days On Market Median

Average


Westchester October Stats

$1,089,000

Median Sold Price

Year Over Year

Oct. Oct. 2016 2017

Median Price Average Price Per Sq. Foot

$1,231,000

Average Sold Price

33 Listings for Sale

% Change

$1,045

$1,089

4%

$618

$628

2%

Properties for Sale

57

33 -42%

Properties Pending Sales

32

41 28%

Properties Sold

29

38 31%

Days on Market (Sold Homes)

49

50 2%

Monthly Supply of Inventory

2

0.9 -55%

50.9

115.2 126%

Absorption Rate (closed sales)

Avg. & Median Price by Month

41 Listings Pending

$3,500 $1,400

$1,231 $3,000 $1,200

$1,089 $2,593

$2,500 $1,000

38 Listings Sold

50

$800 $2,000 $1,655

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

Days On Market Median

Average


Westwood/Century City October Stats Year Over Year

Oct. Oct. 2016 2017

Median Price

% Change

$1,036

$1,090

5%

Average Price Per Sq. Foot

$748

$726

-3%

Properties for Sale

159 153 -4%

Properties Pending Sales

56

62 11%

Properties Sold

76

43 -43%

Days on Market (Sold Homes)

64

40 -38%

Monthly Supply of Inventory

2.1

3.6 71%

Absorption Rate (closed sales)

47.8

28.1 -41%

$1,090,000 Median Sold Price

$1,272,000 Average Sold Price

153 Listings for Sale

Avg. & Median Price by Month $3,500

$1,800

62

$1,600 $3,000

$1,400

$1,272

$2,500 $1,200

$2,593

$1,090

$2,000 $1,000

$1,500

$1,655

$800

$400

$500 $200 $-

43 Listings Sold

$600 $1,000

Listings Pending

40

$-

Days On Market Median

Average


ESTATE PROPERTIES

CONNECT WITH US f RE/MAXEstateProperties z EPLAHomes t@remaxepla i RE/MAX Estate Properties c@REMAXEPLA

+ REMAXEstateProperties

premaxepla

© 2015-17 RE/MAX Estate Properties


Notes:


Gloria Benveniste Wertlieb Certified Negotiation Expert (CNEÂŽ) Licensed Broker

(310) 822-4974 | Cell (310) 710-4750 EMAIL: gloriabenveniste@gmail.com www.gloriabenveniste.com BRE# 00630263

Gloria Benveniste Wertlieb Market Intelligence Report Westside  

Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the Los Angeles real estate market...