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Vol. III February 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, Bentwood, 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


725 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 WESTCHESTER SILICON BEACH 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

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 February 2017 are based on data available at the end of January 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


Beverlywood December Stats

$1,135,000

Median Sold Price

Year Over Year

Jan. Jan. 2016 2017

Median Price

$1,038

$1,135

9%

$648

$685

6%

Average Price Per Sq. Foot

$1,462,000

Average Sold Price

24 Listings for Sale

Properties for Sale

43

24 -44%

Properties Pending Sales

13

20 54%

Properties Sold

16

19 19%

Days on Market (Sold Homes)

68

56 -18%

Monthly Supply of Inventory

3.3

1.2 -64%

Absorption Rate (closed sales)

37.2

79.2 113%

$1,600

20 Listings Pending

% Change

Avg. & Median Price by Month

$1,462

$3,500

$1,400

$3,000

$1,200

$1,135

$2,593 $2,500

$1,000

19 Listings Sold

56 Days On Market

$2,000 $800

$1,655

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

$200 $500 $-

$-

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average


Brentwood January Stats Year Over Year

Jan. Jan. 2016 2017

Median Price

$1,350

$2,500

85%

Average Price Per Sq. Foot

$724

$1,040

44%

Properties for Sale

117

83 -29%

Properties Pending Sales

27

30 11%

Properties Sold

37

23 -38%

Days on Market (Sold Homes)

78

72 -8%

Monthly Supply of Inventory

4.3

2.8 -35%

Absorption Rate (closed sales)

31.6

27.7 -12%

$3,500

Avg. & Median Price by Month

% Change

$2,500,000

Median Sold Price

$3,128,000

Average Sold Price

83 Listings for Sale

$3,128

30

$3,500 $3,000

$3,000

$2,500

$2,500

$2,593

Listings Pending

$2,500 $2,000

$2,000 $1,655

$1,500

$1,500

23 Listings Sold

$1,000

$1,000

$500

$500

$- $-

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average

72 Days On Market


Cheviot Hills January Stats

$1,930,000

Median Sold Price

Year Over Year

Jan. Jan. 2016 2017

Median Price

$1,503

$1,930

28%

$739

$752

2%

Average Price Per Sq. Foot

$2,294,000

Average Sold Price

21 Listings for Sale

Properties for Sale

19

21 11%

Properties Pending Sales

7

5 -29%

Properties Sold

7

7 0%

Days on Market (Sold Homes)

111

85 -23%

Monthly Supply of Inventory

2.7

3 11%

Absorption Rate (closed sales)

36.8

$3,000

5 Listings Pending

% Change

33.3 -10%

Avg. & Median Price by Month

$3,500

$2,294

$2,500

$3,000 $2,593

$1,930

$2,000 $2,500

7

$2,000

Listings Sold

$1,000

$1,500

$1,655

$1,500

$1,000 $500

85 Days On Market

$500 $$-

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average


Culver City January Stats Year Over Year

Jan. Jan. 2016 2017

% Change

Median Price

$792

$900

14%

Average Price Per Sq. Foot

$545

$607

11%

Properties for Sale

30

34 13%

Properties Pending Sales

19

28 47%

Properties Sold

30

30 0%

Days on Market (Sold Homes)

52

56 8%

Monthly Supply of Inventory

1

1.1 10%

100

88.2 -12%

Absorption Rate (closed sales)

$1,200

$900,000

Median Sold Price

$931,000

Average Sold Price

34 Listings for Sale

Avg. & Median Price by Month

$3,500 $1,000

$931

$3,000

$900

$2,593

$800 $2,500

$2,000

$600

$1,655

$1,500

28 Listings Pending

30 Listings Sold

$400

$1,000 $200

$500 $-$-

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average

56 Days On Market


Hollywood January Stats

$1,100,000

Median Sold Price

$996,000 Average Sold Price

43 Listings for Sale

Year Over Year

Listings Pending

13 Listings Sold

% Change

Median Price

$719

$1,100

53%

Average Price Per Sq. Foot

$543

$624

15%

Properties for Sale

52

43 -17%

Properties Pending Sales

23

20 -13%

Properties Sold

10

13 30%

Days on Market (Sold Homes)

54

67 24%

Monthly Supply of Inventory

2.3

2.2 -4%

Absorption Rate (closed sales)

19.2 30.2 57%

$1,200

20

Jan. Jan. 2016 2017

Avg. & Median Price by Month $1,100 $996

$3,500 $1,000

$3,000 $2,593

$800 $2,500

$2,000

$600

$1,655

$1,500 $400

$1,000 $200

67 Days On Market

$500 $-$-

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average


Inglewood January Stats Year Over Year

Jan. Jan. 2016 2017

% Change

Median Price

$350

$438

25%

Average Price Per Sq. Foot

$282

$343

22%

Properties for Sale

47

34 -28%

Properties Pending Sales

29

38 31%

Properties Sold

34

27 -21%

Days on Market (Sold Homes)

44

32 -27%

Monthly Supply of Inventory

1.4

1.3 -7%

Absorption Rate (closed sales)

72.3

79.4 10%

$500

$438,000

Median Sold Price

$423,000 Average Sold Price

34 Listings for Sale

Avg. & Median Price by Month $423

$3,500 $450

$438

$400

$3,000

$350

$2,593

38 Listings Pending

$2,500 $300

$2,000 $250 $1,655 $200

$1,500

27 Listings Sold

$150

$1,000 $100

$500

$50

$-$-

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average

32 Days On Market


Marina Del Rey January Stats

$849,000

Median Sold Price

$1,208,000 Average Sold Price

72 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$949

$849

-11%

Average Price Per Sq. Foot

$686

$731

7%

Properties for Sale

56

72 29%

Properties Pending Sales

23

36 57%

Properties Sold

18

21 17%

Days on Market (Sold Homes)

89

69 -22%

Monthly Supply of Inventory

3.1

3.4 10%

Absorption Rate (closed sales)

32.1 29.2 -9%

$1,400

36

Jan. Jan. 2016 2017

Avg. & Median Price by Month $1,208

$3,500 $1,200

$3,000 $1,000

$2,593

$2,500

$849

$800

21 Listings Sold

$2,000 $1,655

$600

$1,500 $400

$1,000

$200

69 Days On Market

$500 $$-

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average


Pacific Palisades January Stats Year Over Year

Jan. Jan. 2016 2017

Median Price

% Change

$2,472

$2,956

20%

Average Price Per Sq. Foot

$945

$1,020

8%

Properties for Sale

102

63 -38%

Properties Pending Sales

26

23 -12%

Properties Sold

21

24 14%

Days on Market (Sold Homes)

65

77 18%

Monthly Supply of Inventory

4.9

2.6 -47%

Absorption Rate (closed sales) 20.6

38.1 85%

$4,000

$2,956,000

Median Sold Price

$3,492,000 Average Sold Price

63 Listings for Sale

Avg. & Median Price by Month

$3,500

23

$3,492

$3,500

$3,000

$2,956

$3,000

$2,593

Listings Pending

$2,500

$2,500

$2,000

$2,000

$1,655

$1,500 $1,500

Listings Sold

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

$- $-

24

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average

77 Days On Market


Palms/Mar Vista January Stats

$1,165,000

Median Sold Price

$1,286,000 Average Sold Price

37 Listings for Sale

Year Over Year

Jan. Jan. 2016 2017

% Change

Median Price

$990

$1,165

18%

Average Price Per Sq. Foot

$717

$698

-3%

Properties for Sale

35

37 6%

Properties Pending Sales

27

21 -22%

Properties Sold

29

28 -3%

Days on Market (Sold Homes)

41

59 44%

Monthly Supply of Inventory

1.2 1.3 8%

Absorption Rate (closed sales)

82.9 75.7 -9%

$1,600

21

$3,500

Listings Pending

$1,200

Avg. & Median Price by Month $1,286

$1,400

$3,000

$1,165

$2,593 $2,500

$1,000

28 Listings Sold

59 Days On Market

$2,000 $800 $1,655 $1,500 $600 $400 $1,000 $200 $500 $-

$-

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average


Playa del Rey January Stats Year Over Year

Jan. Jan. 2016 2017

% Change

Median Price

$575

$644

12%

Average Price Per Sq. Foot

$611

$524

-14%

Properties for Sale

25

32 28%

Properties Pending Sales

10

13 30%

Properties Sold

8

10 25%

Days on Market (Sold Homes)

49

80 63%

Monthly Supply of Inventory

3.1

3.2 3%

Absorption Rate (closed sales)

32

31.3 -2%

$1,000

$644,000

Median Sold Price

$790,000 Average Sold Price

32 Listings for Sale

Avg. & Median Price by Month

$3,500$900

$790

$800

$3,000

$700

$2,593 $644

$2,500

13 Listings Pending

$600

$2,000$500 $1,655 $400

$1,500

10 Listings Sold

$300

$1,000 $200

$500$100 $-

$Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average

80 Days On Market


Playa Vista January Stats

$950,000

Median Sold Price

Year Over Year

Jan. Jan. 2016 2017

Median Price Average Price Per Sq. Foot

$1,288,000 Average Sold Price

22 Listings for Sale

Listings Pending

$1,458

$950

-35%

$800

$694

-13%

Properties for Sale

14

22 57%

Properties Pending Sales

9

16 78%

Properties Sold

4

9 125%

Days on Market (Sold Homes)

29

52 79%

Monthly Supply of Inventory

3.5

2.4 -31%

Absorption Rate (closed sales)

28.6 40.9 43%

$1,600

16

Avg. & Median Price by Month

$3,500

$1,400

$1,288

$3,000

$1,200

$2,593 $2,500

$1,000

9 Listings Sold

52 Days On Market

% Change

$950

$2,000 $800 $1,655 $1,500 $600 $400 $1,000 $200 $500

$-

$Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average


Santa Monica January Stats Year Over Year

Jan. Jan. 2016 2017

Median Price

% Change

$1,000

$1,595

60%

Average Price Per Sq. Foot

$893

$1,027

15%

Properties for Sale

103

92 -11%

Properties Pending Sales

36

39 8%

Properties Sold

43

37 -14%

Days on Market (Sold Homes)

52

62 19%

Monthly Supply of Inventory

2.4

2.5 4%

Absorption Rate (closed sales) 41.7

40.2 -4%

$2,500

$1,595,000

Median Sold Price

$2,032,000

Average Sold Price

92 Listings for Sale

Avg. & Median Price by Month

$3,500

$2,032

$2,000

$3,000

$2,593

$1,595

$2,500

39 Listings Pending

$1,500

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

$1,500

37 Listings Sold

$1,000 $500

$500

$-

$Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average

62 Days On Market


Sherman Oaks January Stats

$790,000

Median Sold Price

$954,000

Average Sold Price

142

Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$795

$790

-1%

Average Price Per Sq. Foot

$433

$470

9%

Properties for Sale

134 142 6%

Properties Pending Sales

54

92 70%

Properties Sold

53

61 15%

Days on Market (Sold Homes)

61

57 -7%

Monthly Supply of Inventory

2.5

2.3 -8%

Absorption Rate (closed sales)

39.6 43 9%

$1,400

92

Jan. Jan. 2016 2017

Avg. & Median Price by Month

$3,500 $1,200

$3,000 $1,000

$954

$2,593

$2,500 $790

$800

61 Listings Sold

$2,000 $1,655

$600

$1,500 $400

$1,000

$200

$500

57 Days On Market

$-

$-

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average


Venice January Stats Year Over Year

Jan. Jan. 2016 2017

Median Price

$2,022

$1,512

-25%

Average Price Per Sq. Foot

$1,089

$1,025

-6%

% Change

Properties for Sale

61

61 0%

Properties Pending Sales

11

21 91%

Properties Sold

14

10 -29%

Days on Market (Sold Homes)

76

66 -13%

Monthly Supply of Inventory

4.4

6.1 39%

Absorption Rate (closed sales)

23

16.4 -29%

$2,500

$1,512,000

Median Sold Price

$1,629,000

Average Sold Price

61

Listings for Sale

Avg. & Median Price by Month

$3,500

21

$2,000

$3,000

$1,629

$2,593 $2,500

Listings Pending

$1,512

$1,500

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

$1,500

10 Listings Sold

$1,000 $500

$500

$-

$Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average

66 Days On Market


West Hollywood January Stats

$714,000

Median Sold Price

$968,000 Average Sold Price

97 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$800

$714

-11%

Average Price Per Sq. Foot

$701

$671

-4%

Properties for Sale

94

97 3%

Properties Pending Sales

29

44 52%

Properties Sold

34

30 -12%

Days on Market (Sold Homes)

62

52 -16%

Monthly Supply of Inventory

2.8

3.2 14%

Absorption Rate (closed sales)

36.2

30.9 -15%

$1,400

44

Jan. Jan. 2016 2017

Avg. & Median Price by Month

$3,500 $1,200

$3,000

$968

$1,000

$2,593

$2,500 $800

30 Listings Sold

$714

$2,000

$1,655

$600

$1,500 $400

$1,000

$200

52 Days On Market

$500 $$-

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average


West Los Angeles January Stats Year Over Year

Jan. Jan. 2016 2017

% Change

Median Price

$690

$868

26%

Average Price Per Sq. Foot

$559

$614

10%

Properties for Sale

29

23 -21%

Properties Pending Sales

19

16 -16%

Properties Sold

25

22 -12%

Days on Market (Sold Homes)

42

55 31%

Monthly Supply of Inventory

1.2

1 -17%

Absorption Rate (closed sales) 86.2

95.7 11%

$1,200

$868,000

Median Sold Price

$897,000 Average Sold Price

23 Listings for Sale

Avg. & Median Price by Month

$3,500 $897

$1,000

$3,000

$868

$2,593

$800

16 Listings Pending

$2,500

$2,000$600 $1,655 $1,500 $400

22 Listings Sold

$1,000 $200

$500

$-

$Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average

55 Days On Market


Westchester January Stats

$960,000

Median Sold Price

$1,006,000

Average Sold Price

23 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$876

$960

10%

Average Price Per Sq. Foot

$536

$554

3%

Properties for Sale

31

23 -26%

Properties Pending Sales

25

25 0%

Properties Sold

22

22 0%

Days on Market (Sold Homes)

51

71 39%

Monthly Supply of Inventory

1.4

1 -29%

Absorption Rate (closed sales)

71

$1,400

25

Jan. Jan. 2016 2017

95.7 35%

Avg. & Median Price by Month

$3,500 $1,200

$3,000

$1,006

$1,000

$960

$2,593

$2,500 $800

22 Listings Sold

$2,000 $1,655

$600

$1,500 $400

$1,000

$200

71 Days On Market

$500 $$-

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average


Westwood/Century City January Stats Year Over Year

Jan. Jan. 2016 2017

% Change

Median Price

$945

$1,250

32%

Average Price Per Sq. Foot

$658

$719

9%

Properties for Sale

167

134 -20%

Properties Pending Sales

48

61 27%

Properties Sold

47

41 -13%

Days on Market (Sold Homes)

88

61 -31%

Monthly Supply of Inventory

3.6

3.3 -8%

Absorption Rate (closed sales)

28.1 30.6 9%

$1,800

$1,250,000 Median Sold Price

$1,416,000 Average Sold Price

134 Listings for Sale

Avg. & Median Price by Month

61

$3,500

$1,600 $1,416

$3,000 $1,400

$1,250

Listings Pending

$1,655

41

$2,593

$1,200

$2,500

$1,000

$2,000

$800

$1,500

Listings Sold

$600

$1,000

$400

$500 $200 $- $-

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017

Median

Average

61 Days On Market


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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