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