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Vol. 6 | July 2020

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 • 12 Offices • Luxury Residential Commercial Investment Division • International DRE #00983568, 01219939, 01879720


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 July 2020 are based on data available at the end of June 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 JUNE STATS Key Facts:

$9,550,000

Median Sold Price

$13,702,000

Average Sold Price

158

JUNE JUNE % 2019 2020 Change

Median Price (in $1,000)

$2,359

$9,550 305%

Average Price Per Sq. Foot

$1,327

$2,093

Properties for Sale

168

158 -6%

Properties Pending Sales

19

18 -5%

Properties Sold

20

12 -40%

Days on Market (Sold Homes)

58

73 26%

Monthly Supply of Inventory

8.4

13.2 57%

Absorption Rate (Closed Sales) 11.9

7.6 -36%

Listings for Sale $16,000

18

Listings Pending

AVERAGE & MEDIAN PRICE

$14,000

$3,500 $13,702

$12,000

$3,000

12

Listings Sold

58%

$9,550

$10,000

$2,593

$2,500 $8,000

$2,000 $1,655

$6,000

73

Days On Market

$1,500 $4,000

$1,000 $2,000

$500 $-

$-

Median

Average


Beverlywood JUNE STATS Key Facts:

Median Price (in $1,000)

$1,300,000 Median Sold Price

$1,429,000

Average Sold Price

41

Average Price Per Sq. Foot

Listings Pending

JUNE 2020

$1,350

$1,300

-4%

$775

$784

1%

% Change

Properties for Sale

52

41 -21%

Properties Pending Sales

11

7 -36%

Properties Sold

14

7 -50%

Days on Market (Sold Homes)

46

6 -87%

Monthly Supply of Inventory

4.7

5.9 26%

Absorption Rate (Closed Sales) 26.9

17.1 -36%

Listings for Sale

7

JUNE 2019

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

7

Listings Sold

$2,593

$2,500 $2,000

$1,429

$2,000 $1,655 $1,300

$1,500

6

Days On Market

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

Median

Average


Brentwood JUNE STATS Key Facts:

$1,900,000

Median Sold Price

$4,300,000

Average Sold Price

171

JUNE JUNE % 2019 2020 Change

Median Price (in $1,000)

$1,699

$1,900

12%

Average Price Per Sq. Foot

$1,045

$1,009

-3%

Properties for Sale

179

171 -4%

Properties Pending Sales

36

23 -36%

Properties Sold

36

21 -42%

Days on Market (Sold Homes)

59

18 -69%

Monthly Supply of Inventory

5

7.4 48%

Absorption Rate (Closed Sales) 20.1

12.3 -39%

Listings for Sale

23

Listings Pending

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

$4,000 $3,000

21

Listings Sold

$4,300 $2,593

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

18

Days On Market

$1,655 $1,900

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

$500 $500 $$-

Median

Average


Cheviot Hills JUNE STATS Key Facts:

Median Price (in $1,000)

$2,500,000 Median Sold Price

$2,386,000

Average Sold Price

14

Average Price Per Sq. Foot

Listings Pending

JUNE 2020

$2,378

$2,500

5%

$953

$860

-10%

15

14 -7%

Properties Pending Sales

5

6 20%

Properties Sold

7

6 -14%

Days on Market (Sold Homes)

31

9 -71%

Monthly Supply of Inventory

2.1

2.3 10%

Absorption Rate (Closed Sales) 46.7 42.9 -8%

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

$2,386 $2,500

$2,500 $3,000

6

% Change

Properties for Sale

Listings for Sale

6

JUNE 2019

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

Listings Sold $2,000 $1,500

9

Days On Market

$1,655

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

$500 $500

$$-

Median

Average


Culver City JUNE STATS Key Facts:

$1,152,000

Median Sold Price

$1,153,000

Average Sold Price

67

Median Price (in $1,000)

$862

$1,152

34%

Average Price Per Sq. Foot

$747

$718

-4%

Properties for Sale

49

67 37%

Properties Pending Sales

47

34 -28%

Properties Sold

39

24 -38%

Days on Market (Sold Homes)

35

14 -60%

Monthly Supply of Inventory

1.3

2.8 115%

Absorption Rate (Closed Sales) 79.6

35.8 -55%

Listings for Sale

34

Listings Pending

JUNE JUNE % 2019 2020 Change

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

$1,153

$1,200

$1,152

$3,000

24

Listings Sold

$1,000

$2,593

$2,500

$800 $2,000 $1,655

$600

14

Days On Market

$1,500

$400

$1,000

$200

$500

$-

$-

Median

Average


Hollywood JUNE STATS Key Facts:

$960,000 Median Sold Price

$1,022,000

Average Sold Price

110

Listings Pending

Listings Sold

% Change

$880

$960

9%

Average Price Per Sq. Foot

$630

$593

-6%

Properties for Sale

79

110 39%

Properties Pending Sales

10

12 20%

Properties Sold

26

4 -85%

Days on Market (Sold Homes)

71

0 -100%

Monthly Supply of Inventory

7.9

9.2 16%

Absorption Rate (Closed Sales) 32.9

3.6 -89%

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

$1,400 $3,000 $1,200

4

JUNE 2020

Median Price (in $1,000)

Listings for Sale

12

JUNE 2019

$1,022 $2,593 $960

$2,500 $1,000 $2,000 $800 $1,655

0

Days On Market

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

Median

Average


Inglewood JUNE STATS Key Facts:

$589,000

Median Sold Price

$627,000

Average Sold Price

53

JUNE JUNE % 2019 2020 Change

Median Price (in $1,000)

$571

$589

3%

Average Price Per Sq. Foot

$465

$419

-10%

Properties for Sale

63

53 -16%

Properties Pending Sales

30

36 20%

Properties Sold

20

17 -15%

Days on Market (Sold Homes)

35

21 -40%

Monthly Supply of Inventory

3.2

3.1 -3%

Absorption Rate (Closed Sales) 31.7 32.1 1%

Listings for Sale

AVERAGE & MEDIAN PRICE $700

36

Listings Pending

$627

$3,500 $600

$589

$3,000 $500

17

Listings Sold

$2,593 $2,500 $400 $2,000

$300

21

Days On Market

$1,655

$1,500

$200 $1,000

$100 $500

$$-

Median

Average


Marina Del Rey JUNE STATS Key Facts:

Median Price (in $1,000)

$1,250,000 Median Sold Price

$1,437,000

Average Sold Price

118

Average Price Per Sq. Foot

Listings Pending

JUNE 2020

$1,035

$1,250

21%

$745

$776

4%

% Change

Properties for Sale

98

118 20%

Properties Pending Sales

32

16 -50%

Properties Sold

35

17 -51%

Days on Market (Sold Homes)

49

36 -27%

Monthly Supply of Inventory

2.8

6.9 146%

Absorption Rate (Closed Sales) 35.7

14.4 -60%

Listings for Sale

16

JUNE 2019

AVERAGE & MEDIAN PRICE $1,800 $1,437

$3,500 $1,600

$1,250

$1,400 $3,000

17

Listings Sold

$2,593

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

36

Days On Market

$1,655

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

Median

Average


Pacific Palisades JUNE STATS Key Facts:

$3,356,000

Median Sold Price

$4,459,000

Average Sold Price

110

JUNE JUNE % 2019 2020 Change

Median Price (in $1,000)

$2,245

$3,356

49%

Average Price Per Sq. Foot

$1,018

$1,138

12%

Properties for Sale

144

110 -24%

Properties Pending Sales

31

30 -3%

Properties Sold

31

22 -29%

Days on Market (Sold Homes)

58

15 -74%

Monthly Supply of Inventory

4.6 5 9%

Absorption Rate (Closed Sales) 21.5 20 -7%

Listings for Sale

30

Listings Pending

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

$4,459

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

22

Listings Sold

$2,593 $3,356

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

15

Days On Market

$1,655

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

$500 $500 $$-

Median

Average


Palms/Mar Vista JUNE STATS Key Facts:

$1,632,000 Median Sold Price

$1,786,000

Average Sold Price

65

JUNE 2019

JUNE 2020

Median Price (in $1,000)

$1,350

$1,632

21%

Average Price Per Sq. Foot

$784

$846

8%

Properties for Sale

57

65 14%

Properties Pending Sales

36

30 -17%

Properties Sold

45

30 -33%

Days on Market (Sold Homes)

51

13 -75%

Monthly Supply of Inventory

1.3

2.2 69%

Absorption Rate (Closed Sales) 78.9

46.2 -41%

Listings for Sale

30

Listings Pending

% Change

AVERAGE & MEDIAN PRICE $2,000

$1,786

$3,500

$1,800

$1,632

$3,000

$1,600

30

Listings Sold

$2,593

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

$1,000

13

Days On Market

$1,655

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

$400

$200 $500 $$-

Median

Average


Playa del Rey JUNE STATS Key Facts:

$942,000

Median Sold Price

$1,326,000

Average Sold Price

31

JUNE JUNE % 2019 2020 Change

Median Price (in $1,000)

$660

$942

43%

Average Price Per Sq. Foot

$661

$711

8%

Properties for Sale

37

31 -16%

Properties Pending Sales

18

12 -33%

Properties Sold

14

9 -36%

Days on Market (Sold Homes)

35

20 -43%

Monthly Supply of Inventory

2.6

3.4 31%

Absorption Rate (Closed Sales) 37.8

29 -23%

Listings for Sale

AVERAGE & MEDIAN PRICE $1,800

12

Listings Pending

$1,600 $3,500

$1,326

$1,400

$3,000

9

Listings Sold

$1,200

$2,593

$2,500

$942

$1,000 $2,000

$800

20

Days On Market

$1,655

$1,500

$600

$400 $1,000 $200

$500

$$-

Median

Average


Playa Vista JUNE STATS Key Facts:

JUNE 2019

JUNE 2020

$1,200

$1,150

-4%

Average Price Per Sq. Foot

$741

$772

4%

Properties for Sale

47

44 -6%

Properties Pending Sales

12

10 -17%

Properties Sold

9

7 -22%

Days on Market (Sold Homes)

41

8 -80%

Monthly Supply of Inventory

5.2

6.3 21%

Absorption Rate (Closed Sales) 19.1

15.9 -17%

Median Price (in $1,000)

$1,150,000 Median Sold Price

$1,213,000

Average Sold Price

44

Listings for Sale

10

Listings Pending

% Change

AVERAGE & MEDIAN PRICE $2,000 $3,500 $1,800

$1,213

$1,600 $3,000

7

Listings Sold

$2,593 $1,150

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

$1,655

8

Days On Market

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

$200 $500 $$-

Median

Average


Santa Monica JUNE STATS Key Facts:

$1,368,000 Median Sold Price

$1,787,000 Average Sold Price

204

Median Price (in $1,000) Average Price Per Sq. Foot

$1,112

Properties for Sale Properties Pending Sales

187 204 9% 46

55 20%

Properties Sold Days on Market (Sold Homes)

53

48 -9%

58

9 -84%

Listings Pending

$1,086

-2%

3.5 4.3 23% Monthly Supply of Inventory Absorption Rate (Closed Sales) 28.3 23.5 -17%

Listings for Sale

55

JUNE JUNE % 2019 2020 Change $1,500 $1,368 -9%

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

$2,500

48 Listings Sold

$2,593 $2,500

$1,787

$2,000

$2,000

$1,500

9 Days On Market

$1,368 $1,655

$1,500

$1,000 $1,000

$500 $500

$$-

Median

Average


Venice JUNE STATS Key Facts:

$1,809,000 Median Sold Price

$1,989,000

Average Sold Price

146

JUNE 2019

JUNE 2020

% Change

Median Price (in $1,000)

$1,735

$1,809

4%

Average Price Per Sq. Foot

$1,168

$1,134

-3%

Properties for Sale

102

146 43%

Properties Pending Sales

12

21 75%

Properties Sold

17

18 6%

Days on Market (Sold Homes)

45

18 -60%

Monthly Supply of Inventory

6

8.1 35%

Absorption Rate (Closed Sales) 16.7

12.3 -26%

Listings for Sale

21

Listings Pending

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

$1,989

$2,500

$3,000

18

$1,809 $2,593

$2,000 $2,500

Listings Sold $2,000 $1,500 $1,655

18

Days On Market

$1,500

$1,000

$1,000

$500 $500

$$-

Median

Average


West Hollywood JUNE STATS Key Facts:

$1,000,000

Median Sold Price

$1,375,000

Average Sold Price

165

Median Price (in $1,000)

$870

$1,000

15%

Average Price Per Sq. Foot

$866

$824

-5%

Properties for Sale

137

165 20%

Properties Pending Sales

39

29 -26%

Properties Sold

26

21 -19%

Days on Market (Sold Homes)

46

19 -59%

Monthly Supply of Inventory

5.3

7.9 49%

Absorption Rate (Closed Sales) 19

Listings for Sale

29

Listings Pending

JUNE JUNE % 2019 2020 Change

12.7 -33%

AVERAGE & MEDIAN PRICE $1,800

$3,500

$1,375

$1,600 $3,000

$1,400

21

Listings Sold

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

$1,000

$1,000 $2,000

$1,655

$800

19

Days On Market

$1,500

$600

$1,000 $400

$200

$500

$$-

Median

Average


West Los Angeles JUNE STATS Key Facts:

$993,000 Median Sold Price

$965,000

Average Sold Price

45

JUNE 2019

JUNE 2020

% Change

Median Price (in $1,000)

$1,115

$993

-11%

Average Price Per Sq. Foot

$721

$665

-8%

Properties for Sale

35

45 29%

Properties Pending Sales

29

12 -59%

Properties Sold

25

8 -68%

Days on Market (Sold Homes)

50

33 -34%

Monthly Supply of Inventory

1.4

5.6 300%

Absorption Rate (Closed Sales) 71.4

Listings for Sale

17.8 -75%

AVERAGE & MEDIAN PRICE $1,600

12

Listings Pending

$3,500 $1,400 $3,000 $1,200

8

Listings Sold

$965 $2,593 $993

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

$1,655

33

Days On Market

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

Median

Average


Westchester JUNE STATS Key Facts:

$1,320,000

Median Sold Price

$1,424,000

Average Sold Price

45

JUNE JUNE % 2019 2020 Change

Median Price (in $1,000)

$1,255

$1,320

5%

Average Price Per Sq. Foot

$652

$722

11%

Properties for Sale

73

45 -38%

Properties Pending Sales

39

29 -26%

Properties Sold

29

23 -21%

Days on Market (Sold Homes)

49

10 -80%

Monthly Supply of Inventory

2.5

2 -20%

Absorption Rate (Closed Sales) 39.7 51.1 29%

Listings for Sale

29

Listings Pending

AVERAGE & MEDIAN PRICE $1,424

$1,600 $3,500

$1,320

$1,400 $3,000

$1,200

23

Listings Sold

$2,593

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

10

Days On Market

$1,655

$1,500 $600

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

Median

Average


Westwood/Century City JUNE STATS Key Facts:

$985,000 Median Sold Price

$1,291,000

Average Sold Price

234

Listings Pending

JUNE 2020

% Change

Median Price (in $1,000)

$1,725

$985

-4%

Average Price Per Sq. Foot

$1,094

$735

-5%

Properties for Sale

224 234 111%

Properties Pending Sales

49

35 -12%

Properties Sold

55

25 -34%

Days on Market (Sold Homes)

52

17 -5%

Monthly Supply of Inventory

4.1

9.4 209%

Absorption Rate (Closed Sales) 24.6

Listings for Sale

35

JUNE 2019

10.7 -69%

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

$2,500

$3,000

25

$2,593

$2,000 $2,500

Listings Sold

$1,291

$2,000 $1,500

17

Days On Market

$1,655

$1,500

$985

$1,000

$1,000

$500 $500

$-

$-

Median

Average


RE/MAX Estate Properties • 600+ Local Agents • 12 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 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266


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