Lillian Tirado Market Intelligence Reports Westside

Vol. 5Vol. | September 6 | June 2020 2019

Market Intelligence Report LA’s Westside Edition Delivering the facts and trends of the most relevant market activities as they unfold in LA’s Westside real estate communities

RE/MAX Estate Properties 600+ Local Agents • 13 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720

L i ll i a n e T i r a do RE/MAX Estate Properties 1040 Manhattan Boulevard Manhattan Beach, CA 90266

RE/MAX|Estate Realtor® DRE#Properties 02008313 650+ Local Agents • 14 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720

424.325.8698

LillyE.MBRealty@outlook.com

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

Beverly Hills...................................................................... 3 Beverlywood..................................................................... 4 Brentwood........................................................................ 5 Cheviot Hills...................................................................... 6 Culver City......................................................................... 7 Hollywood........................................................................ 8 Inglewood......................................................................... 9 Marina del Rey................................................................ 10 Pacific Palisades............................................................. 11 Palms / Mar Vista............................................................ 12 Playa del Rey.................................................................. 13 Playa Vista...................................................................... 14 Santa Monica.................................................................. 15 Venice.............................................................................. 16 West Hollywood............................................................. 17 West Los Angeles............................................................ 18 Westchester.................................................................... 19 Westwood/Century City................................................. 20

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 June 2020 are based on data available at the end of May 2020. 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.

Beverly Hills MAY STATS Key Facts:

$3,000,000

Median Sold Price

$5,769,000

Average Sold Price

157

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$2,763

$3,000

9%

Average Price Per Sq. Foot

$1,476

$1,055

-29%

Properties for Sale

158 157 -1%

Properties Pending Sales

26

2 -92%

Properties Sold

26

7 -73%

Days on Market (Sold Homes)

67

102 52%

Monthly Supply of Inventory

6.1

22.4 267%

Absorption Rate (Closed Sales) 16.5

Listings for Sale

2

Listings Pending

AVERAGE & MEDIAN PRICE $8,000 $5,769

$3,500 $7,000

$3,000

7

4.5 -73%

$6,000

$2,593 $2,500

Listings Sold

$5,000 $3,000

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

102

Days On Market

$1,500 $3,000

$1,000

$500

$2,000

$1,000

$-

$-

May Jun Jul Aug Sep 2019 2019 2019 2019 2019

Oct Nov Dec 2019 2019 2019

Median

Jan Feb Mar Apr 2020 2020 2020 2020

Average

May 2020

Beverlywood MAY STATS Key Facts:

MAY 2019

MAY 2020

$1,475

$3,155

114%

Average Price Per Sq. Foot

$771

$810

5%

Properties for Sale

45

42 -7%

Properties Pending Sales

15

6 -60%

Properties Sold

16

2 -88%

Days on Market (Sold Homes)

34

23 -32%

Monthly Supply of Inventory

3

7 133%

Absorption Rate (Closed Sales) 35.6

4.8 -87%

Median Price (in $1,000)

$3,155,000 Median Sold Price

$3,155,000

Average Sold Price

42

Listings for Sale

6

Listings Pending

% Change

AVERAGE & MEDIAN PRICE $3,500

$3,155 $3,155

$3,500 $3,000

$3,000

2

Listings Sold

$2,500

$2,593

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

$1,655

23

Days On Market

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

$500 $500

$-$May Jun Jul Aug Sep 2019 2019 2019 2019 2019

Oct Nov Dec 2019 2019 2019

Median

Jan Feb Mar Apr 2020 2020 2020 2020

Average

May 2020

Brentwood MAY STATS Key Facts:

$1,733,000

Median Sold Price

$2,427,000

Average Sold Price

150

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$2,151

$1,733

-19%

Average Price Per Sq. Foot

$980

$822

-16%

Properties for Sale

165

150 -9%

Properties Pending Sales

35

13 -63%

Properties Sold

47

20 -57%

Days on Market (Sold Homes)

65

53 -18%

Monthly Supply of Inventory

4.7

11.5 145%

Absorption Rate (Closed Sales) 28.5

13.3 -53%

Listings for Sale

13

Listings Pending

AVERAGE & MEDIAN PRICE $5,000 $3,500 $4,500 $4,000 $3,000

20

Listings Sold

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

$2,593 $2,427

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

53

Days On Market

$2,000 $1,500

$1,733

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

Median

Average

Cheviot Hills MAY STATS Key Facts:

Median Price (in $1,000)

$2,236,000 Median Sold Price

$2,236,000

Average Sold Price

15

Average Price Per Sq. Foot

Listings Pending

MAY 2020

$2,505

$2,236

-11%

$809

$693

-14%

16

15 -6%

Properties Pending Sales

7

3 -57%

Properties Sold

10

1 -90%

Days on Market (Sold Homes)

69

124 80%

Monthly Supply of Inventory

1.6

15 838%

Absorption Rate (Closed Sales) 62.5

6.7 -89%

AVERAGE & MEDIAN PRICE $3,000 $3,500 $2,236

$2,500 $3,000

1

% Change

Properties for Sale

Listings for Sale

3

MAY 2019

$2,236 $2,593

$2,500 $2,000

Listings Sold $2,000 $1,500

124

Days On Market

$1,655

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

Median

Average

Culver City MAY STATS Key Facts:

$725,000

Median Sold Price

$908,000

Average Sold Price

68

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$1,146

$725

-37%

Average Price Per Sq. Foot

$765

$725

-5%

Properties for Sale

58

68 17%

Properties Pending Sales

50

18 -64%

Properties Sold

50

20 -60%

Days on Market (Sold Homes)

53

11 -79%

Monthly Supply of Inventory

1.2

3.4 183%

Absorption Rate (Closed Sales) 86.2

29.4 -66%

Listings for Sale

18

Listings Pending

20

Listings Sold

11

Days On Market

AVERAGE & MEDIAN PRICE $1,400 $3,500 $1,200 $3,000

$908 $2,593

$1,000 $2,500

$725

$800 $2,000

$1,655

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

Median

Average

Hollywood MAY STATS Key Facts:

$925,000 Median Sold Price

$929,000

Average Sold Price

96

Listings Pending

MAY 2020

% Change

Median Price (in $1,000)

$825

$925

12%

Average Price Per Sq. Foot

$716

$655

-9%

Properties for Sale

73

96 32%

Properties Pending Sales

30

6 -80%

Properties Sold

15

9 -40%

Days on Market (Sold Homes)

42

12 -71%

Monthly Supply of Inventory

2.4

16 567%

Absorption Rate (Closed Sales) 20.5

9.4 -54%

Listings for Sale

6

MAY 2019

AVERAGE & MEDIAN PRICE $1,600 $3,500 $1,400 $3,000 $1,200

9

Listings Sold

$2,593 $929

$2,500 $1,000

$925

$2,000 $800

12

Days On Market

$1,655

$1,500 $600 $1,000 $400 $500 $200 $-$May Jun Jul Aug Sep 2019 2019 2019 2019 2019

Oct Nov Dec 2019 2019 2019

Median

Average

Jan Feb Mar Apr 2020 2020 2020 2020

May 2020

Inglewood MAY STATS Key Facts:

$635,000

Median Sold Price

$634,000

Average Sold Price

60

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$533

$635

19%

Average Price Per Sq. Foot

$443

$412

-7%

Properties for Sale

55

60 9%

Properties Pending Sales

33

15 -55%

Properties Sold

32

11 -66%

Days on Market (Sold Homes)

50

18 -64%

Monthly Supply of Inventory

1.7

5.5 224%

Absorption Rate (Closed Sales) 58.2

18.3 -69%

Listings for Sale

AVERAGE & MEDIAN PRICE $700

15

Listings Pending

$634

$635

$3,500 $600 $3,000 $500

11

Listings Sold

$2,593 $2,500 $400 $2,000 $1,655

$300

18

Days On Market

$1,500 $200 $1,000 $100 $500 $$-

Median

Average

Marina Del Rey MAY STATS Key Facts:

$965,000 Median Sold Price

$996,000

Average Sold Price

102

MAY 2019

MAY 2020

Median Price (in $1,000)

$970

$965

-1%

Average Price Per Sq. Foot

$748

$750

0%

% Change

Properties for Sale

93

102 10%

Properties Pending Sales

33

9 -73%

Properties Sold

35

6 -83%

Days on Market (Sold Homes)

57

34 -40%

Monthly Supply of Inventory

2.7

17 530%

Absorption Rate (Closed Sales) 37.6

5.9 -84%

Listings for Sale

AVERAGE & MEDIAN PRICE $1,800

9

Listings Pending

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

6

Listings Sold

$996 $2,593 $965

$1,200 $2,500 $1,000 $2,000 $800

34

Days On Market

$1,655

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

Median

Average

Pacific Palisades MAY STATS Key Facts:

$2,900,000

Median Sold Price

$3,286,000

Average Sold Price

120

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$2,363

$2,900

23%

Average Price Per Sq. Foot

$967

$872

-10%

Properties for Sale

134

120 -10%

Properties Pending Sales

30

7 -77%

Properties Sold

20

15 -25%

Days on Market (Sold Homes)

49

43 -12%

Monthly Supply of Inventory

6.7

8 19%

Absorption Rate (Closed Sales) 14.9

Listings for Sale

7

Listings Pending

AVERAGE & MEDIAN PRICE $4,500 $3,500 $4,000 $3,286

$3,000 $3,500

15

Listings Sold

$2,593 $2,900

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

$1,655

$2,000

43

Days On Market

12.5 -16%

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

Median

Average

Palms/Mar Vista MAY STATS Key Facts:

$1,472,000 Median Sold Price

$1,593,000

Average Sold Price

49

MAY 2019

MAY 2020

Median Price (in $1,000)

$1,416

$1,472

4%

Average Price Per Sq. Foot

$859

$877

2%

Properties for Sale

63

49 -22%

Properties Pending Sales

52

7 -87%

Properties Sold

34

17 -50%

Days on Market (Sold Homes)

46

14 -70%

Monthly Supply of Inventory

1.9

2.9 53%

Absorption Rate (Closed Sales) 54

Listings for Sale

7

Listings Pending

Listings Sold

$2,000 $3,500 $1,800

$1,593 $1,472 $2,593

$1,400 $2,500 $1,200 $2,000 $1,000

14

Days On Market

34.7 -36%

AVERAGE & MEDIAN PRICE

$3,000 $1,600

17

% Change

$1,655

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

Median

Average

Playa del Rey MAY STATS Key Facts:

$1,088,000

Median Sold Price

$1,121,000

Average Sold Price

31

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$731

$1,088

49%

Average Price Per Sq. Foot

$570

$686

20%

Properties for Sale

36

31 -14%

Properties Pending Sales

17

4 -76%

Properties Sold

13

8 -38%

Days on Market (Sold Homes)

70

14 -80%

Monthly Supply of Inventory

2.8

3.9 39%

Absorption Rate (Closed Sales) 36.1

25.8 -29%

Listings for Sale

AVERAGE & MEDIAN PRICE $1,800

4

Listings Pending

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

8

Listings Sold

$1,121 $1,088 $2,593

$1,200 $2,500 $1,000 $2,000 $800

14

Days On Market

$1,655

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

Median

Average

Playa Vista MAY STATS Key Facts:

$1,626,000 Median Sold Price

$1,649,000

Average Sold Price

44

Listings Pending

MAY 2020

% Change

Median Price (in $1,000)

$951

$1,626

71%

Average Price Per Sq. Foot

$731

$872

19%

Properties for Sale

45

44 -2%

Properties Pending Sales

13

4 -69%

Properties Sold

19

4 -79%

Days on Market (Sold Homes)

65

57 -12%

Monthly Supply of Inventory

2.4

11 358%

Absorption Rate (Closed Sales) 42.2

9.1 -78%

Listings for Sale

4

MAY 2019

AVERAGE & MEDIAN PRICE $1,649

$2,000 $3,500 $1,800

$1,626 $1,600 $3,000

4

Listings Sold

$2,593

$1,400 $2,500 $1,200 $2,000 $1,000

$1,655

57

Days On Market

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

Median

Average

Santa Monica MAY STATS Key Facts:

$1,333,000 Median Sold Price

$1,866,000 Average Sold Price

173

Median Price (in $1,000)

MAY MAY % 2019 2020 Change $1,350 $1,333 -1%

Average Price Per Sq. Foot

$1,197

Listings Pending

-16%

Properties for Sale

Properties Pending Sales

182

173 -5%

54

18 -67%

Properties Sold

Days on Market (Sold Homes)

41

24 -41%

54

17 -69%

4.4 7.2 64% Monthly Supply of Inventory

Absorption Rate (Closed Sales) 22.5 13.9 -38%

Listings for Sale

18

$1,002

AVERAGE & MEDIAN PRICE $3,500 $3,000 $3,000 $2,500

24 Listings Sold

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

$1,866

$2,000 $1,500

17 Days On Market

$1,655 $1,333

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

Median

Average

Venice MAY STATS Key Facts:

$2,135,000 Median Sold Price

$2,266,000

Average Sold Price

120

MAY 2019

MAY 2020

% Change

Median Price (in $1,000)

$1,910

$2,135

12%

Average Price Per Sq. Foot

$1,080

$970

-10%

Properties for Sale

100

120 20%

Properties Pending Sales

19

9 -53%

Properties Sold

21

9 -57%

Days on Market (Sold Homes)

64

39 -39%

Monthly Supply of Inventory

4.8

13.3 177%

Absorption Rate (Closed Sales) 21

7.5 -64%

Listings for Sale

9

Listings Pending

AVERAGE & MEDIAN PRICE $3,000 $3,500 $2,500 $3,000

9

$2,266

$2,135

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

Listings Sold $2,000 $1,500

39

Days On Market

$1,655

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

$-$May Jun Jul Aug Sep 2019 2019 2019 2019 2019

Oct Nov Dec 2019 2019 2019

Median

Average

Jan Feb Mar Apr 2020 2020 2020 2020

May 2020

West Hollywood MAY STATS Key Facts:

$825,000

Median Sold Price

$1,177,000

Average Sold Price

152

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$943

$825

-13%

Average Price Per Sq. Foot

$847

$732

-14%

Properties for Sale

138

152 10%

Properties Pending Sales

35

16 -54%

Properties Sold

53

19 -64%

Days on Market (Sold Homes)

51

12 -76%

Monthly Supply of Inventory

2.6

8 208%

Absorption Rate (Closed Sales) 38.4

12.5 -67%

Listings for Sale

16

Listings Pending

AVERAGE & MEDIAN PRICE $1,800 $3,500 $1,600 $3,000 $1,400

19

Listings Sold

$1,177 $2,593

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

$825 $1,655

$800

12

Days On Market

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

Median

Average

West Los Angeles MAY STATS Key Facts:

$1,065,000 Median Sold Price

$1,213,000

Average Sold Price

36

MAY 2019

MAY 2020

Median Price (in $1,000)

$1,025

$1,065

4%

Average Price Per Sq. Foot

$693

$739

7%

% Change

Properties for Sale

33

36 9%

Properties Pending Sales

33

6 -82%

Properties Sold

19

7 -63%

Days on Market (Sold Homes)

51

3 -94%

Monthly Supply of Inventory

1.7

5.1 200%

Absorption Rate (Closed Sales) 57.6

19.4 -66%

Listings for Sale

AVERAGE & MEDIAN PRICE $1,600

6

Listings Pending

$3,500 $1,400

$1,213

$3,000 $1,200

7

Listings Sold

$1,065 $2,593 $2,500 $1,000 $2,000 $800

3

Days On Market

$1,655

$1,500 $600 $1,000 $400 $500 $200 $-$May Jun Jul Aug Sep 2019 2019 2019 2019 2019

Oct Nov Dec 2019 2019 2019

Median

Average

Jan Feb Mar Apr 2020 2020 2020 2020

May 2020

Westchester MAY STATS Key Facts:

$1,100,000

Median Sold Price

$1,250,000

Average Sold Price

46

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$1,200

$1,100

-8%

$659

$742

13%

Average Price Per Sq. Foot

Properties for Sale

78

46 -41%

Properties Pending Sales

35

18 -49%

Properties Sold

23

19 -17%

Days on Market (Sold Homes)

39

9 -77%

Monthly Supply of Inventory

3.4

2.4 -29%

Absorption Rate (Closed Sales) 29.5 41.3 40%

Listings for Sale

18

Listings Pending

AVERAGE & MEDIAN PRICE $1,600 $3,500 $1,250

$1,400

$1,100

$3,000 $1,200

19

Listings Sold

$2,593

$2,500 $1,000 $2,000 $800

9

Days On Market

$1,655

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

Median

Average

Westwood/Century City MAY STATS Key Facts:

MAY 2019

MAY 2020

$1,205

$1,038

-4%

Average Price Per Sq. Foot

$817

$752

-5%

Properties for Sale

206 210 111%

Properties Pending Sales

68

13 -12%

Properties Sold

63

20 -34%

Days on Market (Sold Homes)

45

37 -5%

Monthly Supply of Inventory

3.3

Median Price (in $1,000)

$1,038,000 Median Sold Price

$1,312,000

Average Sold Price

210

Absorption Rate (Closed Sales) 30.6

Listings for Sale

13

Listings Pending

% Change

10.5 209% 9.5 -69%

AVERAGE & MEDIAN PRICE $3,000 $3,500 $2,500 $3,000

20

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

Listings Sold

$1,312

$2,000 $1,500

37

Days On Market

$1,655

$1,500

$1,038

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

$-$May Jun Jul Aug Sep 2019 2019 2019 2019 2019

Oct Nov Dec 2019 2019 2019

Median

Average

Jan Feb Mar Apr 2020 2020 2020 2020

May 2020

RE/MAX Estate Properties • 600+ Local Agents • 13 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212

SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505

WEST LOS ANGELES 10931 W. Pico Blvd.

Los Angeles, CA 90064

REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277

MARINA DEL REY / VENICE 124 Washington Blvd.

Marina Del Rey, CA 90292

MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274

SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045

SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274

EL SEGUNDO 402 Main Street El Segundo, CA 90245

MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275

MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266

SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732

MANHATTAN BEACH 1040 Manhattan Beach Blvd.

Manhattan Beach, CA 90266

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L i ll i a n e T i r a do RealtorÂŽ | DRE# 02008313 RE/MAX Estate Properties 1040 Manhattan Boulevard Manhattan Beach, CA 90266

424.325.8698 LillyE.MBRealty@outlook.com